SAN FRANCISCO – Rubrik Inc. (NYSE:RBRK) shares jumped 6% following the release of its first-quarter financial results, which revealed a significant beat on revenue estimates and an optimistic revenue outlook that exceeded analysts' expectations.
For the first quarter of fiscal 2025, Rubrik reported a revenue of $187.3 million, surpassing the analyst consensus of $171.6 million. This represents a 38% increase compared to $135.7 million in the same quarter last year.
Subscription revenue was particularly strong, showing a 59% surge to $172.2 million. The company's subscription annual recurring revenue (ARR) also saw a notable rise, up 46% to $856.1 million YoY.
Despite the revenue beat, Rubrik posted a non-GAAP net loss per share of -$1.58, which was slightly worse than the -$1.48 loss per share in the first quarter of the previous fiscal year but better than the estimated loss of -$1.084.
The company's GAAP gross margin declined to 48.8% from 73.6% in the previous year, largely due to a substantial $630.3 million in stock-based compensation expense related to its recent initial public offering.
Looking ahead, Rubrik provided a second-quarter revenue forecast range of $195 million to $197 million, with the midpoint above the consensus estimate of $195.9 million. The company also projected a non-GAAP EPS of between -$0.50 and -$0.48, aligning with the consensus estimate of -$0.50.
For the full fiscal year 2025, Rubrik anticipates revenues between $810 million and $824 million, which is above the analyst consensus of $806.7 million, and a non-GAAP EPS loss of between -$2.25 and -$2.35, more favorable than the consensus estimate of -$2.41.
Rubrik's CEO, Bipul Sinha, expressed confidence in the company's trajectory, stating, "While we are excited and proud of all the team has done to date, we are in the very early innings of data security and look forward to continuing to build an enduring company."
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