Security and AI company Rubrik Inc (NYSE:RBRK) reported on Tuesday second-quarter financial results that beat expectations.
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What Happened: Rubrik reported second-quarter revenue of $309.86 million, up 51% year-over-year. The revenue total beat a Street consensus estimate of $282.22 million according to data from Benzinga Pro.
Subscription revenue was $297 million in the second quarter, up 55% year-over-year.
The company said its second quarter subscription ARR was up 36% year-over-year to $1.25 billion.
Rubrik had 2,505 customers with $100,000 or more in subscription ARR at the end of the quarter, up 27% year-over-year.
The company reported a loss of three cents per share in the quarter, beating a Street consensus estimate of a loss of 34 cents per share.
Chief Financial Officer Kiran Choudary said the strong results were driven by new customer acquisitions, expansions and increased efficiencies.
What's Next: Guidance from the company calls for third-quarter revenue in a range of $319 million to $321 million, ahead of a Street estimate of $301.9 million, according to data from Benzinga Pro.
The company expects to have a third quarter loss of 18 cents to a loss of 16 cents per share, versus a Street estimate of a loss of 26 cents.
Rubrik raised its full-year fiscal 2026 outlook.
The company expects revenue to be in a range of $1.227 billion to $1.237 billion, up from a previous range of $1.179 billion to $1.189 billion. The Street estimate is currently $1.185 billion.
The company expects to post a loss of 50 cents to a loss of 44 cents per share, an improvement over previous guidance of a loss of $1.02 to a loss of 96 cents per share.
"We continue to build towards a highly profitable growth business," Rubrik CEO Bipul Sinha said.
The company closed the acquisition of Predibase in the quarter, which Sinha said will help boost the company's GenAI offerings for customers.
"We look forward to continuing to unlock new frontiers in data, security, and AI as we build a generational company
RBRK Price Action: Rubrik shares were down 2.13% at $96.40 in after-hours trading on Tuesday versus a 52-week trading range of $29.18 to $103.00.
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