Rubrik, Inc.: Initiation Of Coverage – Strategic Expansion & Technology Partnerships To Widen Market Reach & Offerings!

Rubrik reported strong financial performance in its latest quarter, achieving $1 billion in subscription ARR, representing 38% year-over-year growth. Net new subscription ARR stood at $83 million, while subscription revenue increased by 55% year-over-year to $221 million. The company also recorded free cash flow of $15.6 million, marking an improvement from $3.5 million in the prior year period. Subscription ARR contribution margin improved by 1,100 basis points year-over-year, indicating increased operating leverage. Despite this progress, the company remains unprofitable on a GAAP basis, with a non-GAAP subscription ARR contribution margin of negative 3%.