PALO ALTO, California, June 4, 2026, 14:02 PDT
- Rubrik lifted its full-year fiscal 2027 forecast after posting a 39% gain in first-quarter revenue.
- Subscription annual recurring revenue rose 32% to $1.57 billion.
- Shares dropped after the report, with valuation staying in focus as investors look at Rubrik alongside bigger cybersecurity stocks.
Rubrik on Thursday lifted its outlook for fiscal 2027 revenue and cash flow, following a stronger-than-expected first quarter. The company credited demand for its data recovery and risk software, especially for cyberattack recovery and risk tied to AI tools.
Rubrik posted a 39% jump in revenue to $387.1 million for the quarter ended April 30. Subscription ARR hit $1.57 billion. CEO Bipul Sinha said Rubrik is still in the “early innings” of an AI demand cycle. CFO Kiran Choudary called out “durable growth” in the quarter and improved operating leverage. Business Wire
Rubrik’s adjusted profit hit 16 cents per share, swinging past expectations for a 3-cent loss, and revenue came in ahead of the $366.3 million forecast, Investor’s Business Daily said. Cybersecurity investors are focused on these results now, watching for AI-related data protection to start showing up in budgets instead of just making headlines.
Rubrik stock chopped around and ended the regular session near $77, off about 3%. Shares dipped more after hours, MarketBeat data shows. Different market data estimated Rubrik’s market cap at around $15.3 billion.
Rubrik is guiding for fiscal 2027 revenue between $1.638 billion and $1.648 billion, and free cash flow of $293 million to $303 million. The company put out an adjusted EPS target of 25 to 35 cents, above the FactSet figure of 18 cents, according to MarketScreener.
Rubrik is calling for second-quarter revenue between $395 million and $397 million, ahead of the analyst average of about $383.5 million, according to IBD. The company said it expects non-GAAP earnings of 3 to 5 cents per share, which leaves out some costs like stock compensation.
Rubrik is facing questions about whether its valuation will catch up to bigger cybersecurity names. The Information compared Rubrik with CrowdStrike and Palo Alto Networks, pointing out both stocks are up at least 50% this year helped by talk of AI-fueled cyber threats, while Rubrik shares have added just 1%.
Rubrik is pitching investors on more than just backup tools. In its latest quarter, the company pointed to its involvement with Anthropic’s Mythos research preview, data protection for Google Workspace, a new Rubrik Agent Cloud product for Google Cloud’s Gemini Enterprise Agent Platform, and an integration with Microsoft Defender meant to speed up identity rollback and recovery.
That wording isn’t clear. Agentic AI here means software that acts with little human help. Rubrik says it has new tools to watch those actions, put up guardrails, and roll back anything harmful. The company is also talking up “cyber resilience,” or being able to keep running and get data back after a hack, not just blocking attacks.
But Rubrik posted a GAAP net loss of $41.9 million for the quarter. That’s less than the $102.1 million loss from a year ago, but still in the red. Management also flagged risk in its markets, saying they’re young, competitive, and tough to predict. Demand for its data-security and AI products may not play out as planned.
Rubrik pointed to tough competition in its annual filing, calling data security “intensely competitive.” The company listed data-management and protection players as rivals. It also said product coverage, scale, price, support, and how firms blend data security with management are major areas of the fight. SEC
Rubrik posted another quarter of strong subscription gains, but the pace now sets a tougher hurdle for the rest of the year. Shares showed that investors are still waiting to see if AI-security demand will deliver real profit, not just higher sales.
