You might also like
Rubrik, Inc. is a data security company that develops and sells cloud-based solutions to protect against cybersecurity threats, including ransomware. The company’s primary focus is its data security platform, which addresses customer needs for data protection and security. Rubrik generates revenue through subscription-based services, maintenance, and other products, aligning with its strategy to transition customers to cloud-based offerings.
- Subscription - Provides access to Rubrik's data security platform, including Rubrik Security Cloud (RSC), enabling customers to protect and manage their data against cybersecurity threats.
- Maintenance - Offers support and updates for customers with legacy perpetual licenses, though this segment is being phased out as customers transition to subscription services.
- Other Products - Includes sales of Rubrik-branded appliances and professional services, supporting the deployment and operation of its data security solutions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Arvind Nithrakashyap ExecutiveBoard | Chief Technology Officer (CTO) | Arvind Nithrakashyap is a co-founder of RBRK who currently serves as its Chief Technology Officer and has been on its board of directors since January 2014. | ||
Bipul Sinha ExecutiveBoard | Chief Executive Officer | Venture Partner at Lightspeed Venture Partners | Bipul Sinha has been the CEO of Rubrik since January 2014 and the Chairman of the Board since July 2016. He also brings external experience as a Venture Partner at Lightspeed Venture Partners and previously served on the board of Nutanix, Inc.. | View Report → |
Kiran Choudary Executive | Chief Financial Officer | Kiran Choudary has been serving as Rubrik, Inc.'s Chief Financial Officer since November 2020, and previously held the role of Senior Vice President of Finance and Strategy from August 2018 to November 2020. His earlier career includes roles at Atlassian Corporation PLC and The Goldman Sachs Group, Inc.. | ||
Asheem Chandna Board | Member of the Board of Directors | Partner at Greylock Partners | Asheem Chandna has served as a board member at RBRK since March 2015. He is widely recognized for his extensive background in cybersecurity, cloud products, and enterprise IT markets. | |
Enrique Salem Board | Director | Managing Director at Bain Capital Ventures; Board Member at Mandiant; Board Member at Atlassian Corporation PLC; Board Member at DocuSign, Inc. | Enrique Salem has served as a Director at RBRK since August 2019. He brings extensive leadership experience from his current role as Managing Director at Bain Capital Ventures since July 2014 and board memberships at Mandiant, Atlassian Corporation PLC, and DocuSign, Inc. | |
John W. Thompson Board | Lead Independent Director | Venture Partner at Lightspeed Venture Partners | John W. Thompson has served as the Lead Independent Director at RBRK since January 2018, providing strategic oversight as part of the board. He has extensive leadership experience in technology, including his current role as Venture Partner at Lightspeed Venture Partners since May 2018. | |
Mark D. McLaughlin Board | Member of the Board of Directors | Director at Snowflake Inc. ; Chairperson of the Board of Directors at QUALCOMM Incorporated | Mark D. McLaughlin has served as a member of the board of directors at RBRK since November 2022 and is also a member of the compensation committee, bringing extensive leadership experience from various technology companies. | |
R. Scott Herren Board | Member of the Board of Directors | Executive Vice President and Chief Financial Officer at Cisco Systems, Inc. | R. Scott Herren has served as a board member at RBRK since November 2021. He also currently holds the role of Executive Vice President and Chief Financial Officer at Cisco Systems, Inc. since December 2020, contributing extensive expertise in financial management and operations. | |
Ravi Mhatre Board | Director | Co-founder and Managing Director at Lightspeed Venture Partners | Ravi Mhatre has served as a Director at RBRK since January 2014 and brings extensive venture capital and technology experience from his role as Co-founder and Managing Director at Lightspeed Venture Partners. | |
Yvonne Wassenaar Board | Member of the Board of Directors | Member of the Board at Arista Networks, Inc. ; Member of the Board at Forrester Research, Inc. ; Member of the Board at JFrog Ltd. | Yvonne Wassenaar has served as a board member and audit committee member at RBRK since November 2021. She brings extensive leadership experience from her prior roles as CEO of Puppet, Inc. (January 2019 to May 2022) and Airware (June 2017 to September 2018) as well as senior roles at New Relic, Inc. and VMware. |
-
Despite strong performance in fiscal 2025, your guidance suggests net new subscription ARR will be lower year-over-year in fiscal 2026; what are the specific factors contributing to this expected decline, especially considering the tailwinds from DSPM and increased sales capacity?
-
There is a noticeable divergence between your projected revenue growth of approximately 30% and ARR growth of around 24% for fiscal 2026; can you explain what is driving this discrepancy and whether it raises concerns about the sustainability of your revenue growth?
-
Given the significant sequential increase in accounts receivable this quarter, how should we interpret this in relation to your cash flow guidance for fiscal 2026, and are there underlying issues with cash collections or expenses that investors should be aware of?
-
As competitors like Veeam move upstream and Cohesity acquires Veritas, have you observed any changes in the competitive landscape affecting your market share, and how is this impacting your ability to win both greenfield and brownfield opportunities?
-
Why did you decide to shift from six-month to annual sales compensation plans at this time, and how do you expect this change to influence sales behavior, execution, and the seasonality of your net new ARR growth?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
A data management and protection vendor competing in the data security market, which is characterized by rapidly changing technology and evolving standards. | |
Dell EMC | A data management and protection vendor that competes in the data security market, leveraging its substantial resources and broader product solutions. |
A data management and protection vendor with significant financial, technical, and sales resources, competing in the data security market. | |
Veeam | A data management and protection vendor offering products that compete in some of the markets served by the company. |
Cohesity | A data management and protection vendor that recently acquired Veritas' data protection business, increasing its competitive presence in the market. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Partner A | Channel Partner | All | • FY2025: ~$257.1M (29% of $886.5M total revenue) ; ~$58.6M (33% of $177.6M AR) <br>• FY2024: ~$188.4M (30% of $627.9M total revenue) ; ~$58.8M (44% of $133.5M AR) <br>• FY2023: ~$191.9M (32% of $599.8M total revenue) |
Partner B | Channel Partner | All | • FY2025: ~$301.4M (34% of $886.5M total revenue) ; ~$35.5M (20% of $177.6M AR) <br>• FY2024: ~$219.8M (35% of $627.9M total revenue) ; ~$33.4M (25% of $133.5M AR) <br>• FY2023: ~$209.9M (35% of $599.8M total revenue) |
Partner C | Channel Partner | All | • FY2025: ~$88.7M (10% of $886.5M total revenue) ; ~$24.9M (14% of $177.6M AR) <br>• FY2024: ~$69.1M (11% of $627.9M total revenue) ; <10% of $133.5M AR <br>• FY2023: ~$72.0M (12% of $599.8M total revenue) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Laminar Technologies, Inc. | 2023 | Completed acquisition by Rubrik in August 2023 with a total purchase consideration of $104.9 million—primarily executed with $90.8 million in cash, the balance in common stock, and a $23.8 million holdback subject to service-based vesting—to enhance Rubrik’s data security platform and integrate Laminar’s technology, including an acquired developed technology intangible asset and significant goodwill. |
Recent press releases and 8-K filings for RBRK.
- Rubrik achieved subscription ARR of $1.093 billion, marking a 39% YoY growth and record net new subscription ARR of over $90 million, underscoring its leadership in cyber resilience.
- Subscription revenue reached $244 million (+54% YoY), contributing to total revenue growth, driven by strong cloud transformation initiatives.
- The company posted solid profitability with free cash flow of $75 million in Q4 and $22 million for full FY 2025, alongside a 1,400 basis point improvement in subscription ARR contribution margin.
- Fiscal 2026 guidance projects Q1 revenues of $259–261 million and full-year revenues between $1.145–1.161 billion, indicating robust future growth.
- Subscription revenue performance strengthened as FY25 reached $829M in subscription revenue with subscription revenue comprising 94% of total revenue in Q4 FY25.
- Robust customer growth was evidenced by 2,246 customers with over $100K in Subscription ARR by FY25.
- Operational improvements include enhanced non-GAAP free cash flow performance, with Q4 FY25 showing positive free cash flow and improved margins.
- Forward guidance for Q1 FY26 includes subscription ARR of $1,350M–$1,360M and total revenue of $259M–$261M.
- The company reported subscription ARR of $1,092.6 million with 39% YoY growth and total revenue of $258.1 million with a 47% increase compared to Q4 2024.
- Rubrik achieved improved operating leverage and generated positive free cash flow, with Q4 operating cash flow at $83.6 million.
- The report highlighted customer growth, with 2,246 customers attaining $100K+ in subscription ARR—a 29% YoY increase.