Rubrik Reports Strong Q2 2026 Revenue and Reduced Net Loss

Rubrik (RBRK.US) reported robust financial results for the second quarter of fiscal year 2026, exceeding analyst expectations for revenue and significantly reducing its net loss. The company posted total revenue of $309.9 million, marking a 51% increase year-over-year. The non-GAAP net loss per share was $(0.03), a substantial improvement compared to $(0.40) in the prior year quarter, and better than the analyst estimate of $(0.33).

Subscription Business Growth

The strong performance was primarily driven by growth in subscription revenue and Annual Recurring Revenue (ARR). Subscription revenue surged to $297.0 million, up 55% from $191.3 million in the second quarter of fiscal 2025. This growth reflects the continued success and expansion of Rubrik's subscription-based offerings.

Subscription ARR increased 36% year-over-year to $1.25 billion as of July 31, 2025. The company also reported an increase in high-value customers, with 2,505 customers contributing $100,000 or more in Subscription ARR, representing a 27% year-over-year rise.

Strategic Acquisitions and Product Innovation

Rubrik bolstered its capabilities through the acquisition of Predibase, aiming to accelerate agentic AI adoption for customers. This acquisition is expected to enhance the delivery of secure, efficient, and accelerated Generative AI solutions. The company also launched Agent Rewind, powered by Predibase’s AI infrastructure, designed to enable organizations to undo AI-driven mistakes by tracking agent actions.

In addition to these strategic moves, Rubrik expanded its immutability for Amazon RDS for PostgreSQL and comprehensive protection for Amazon DynamoDB. These developments reinforce Rubrik’s leadership in cloud data protection. The company was also recognized as a Leader in the 2025 Gartner® Magic Quadrant™ for Enterprise Backup and Recovery Software Solutions for the sixth consecutive year.

Positive Financial Outlook

Management provided a positive outlook for the third quarter and full fiscal year 2026, raising its guidance based on the solid Q2 results. For the full fiscal year 2026, Rubrik anticipates subscription ARR to be between $1,408 million and $1,416 million, and total revenue to range from $1,227 million to $1,237 million. Non-GAAP net loss per share is projected to be between $(0.50) and $(0.44), with free cash flow expected to be between $145 million and $155 million.