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Apr 30
Rubrik Inc Q1 2026 Earnings Report
Rubrik reported strong revenue growth and narrowed its losses in the first quarter of fiscal year 2026.
Key Takeaways
Rubrik delivered a solid Q1 FY26 with strong growth in subscription ARR and total revenue, driven by enterprise demand for cyber resilience. Net losses decreased significantly compared to the previous year, and positive cash flow reflects operational efficiency gains.
Subscription revenue grew to $265.7M, up from $172.2M last year
Total revenue reached $278.5M with strong gross profit of $218M
Net loss narrowed to $102.1M from $732.1M in Q1 FY25
Free cash flow turned positive at $33.3M, versus a loss in the prior year
Rubrik Inc
Rubrik Inc
Rubrik Inc Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance Revenue
CapyFin.comOther Services Revenue
CapyFin.com Forward Guidance
Rubrik guided for modest sequential revenue growth in Q2 FY26, while continuing to improve ARR contribution margin and managing losses.
Positive Outlook
- Revenue expected between $281M and $283M in Q2 FY26
- Non-GAAP Subscription ARR contribution margin projected between 4.5% and 5.5%
- FY26 Subscription ARR expected between $1.38B and $1.388B
- FY26 free cash flow expected between $65M and $75M
- Continued improvement toward profitability
Challenges Ahead
- Non-GAAP EPS for Q2 FY26 still projected to be negative: $(0.35) to $(0.33)
- FY26 Non-GAAP EPS guided at $(1.02) to $(0.96)
- Ongoing net losses despite revenue growth
- Stock-based compensation remains high
- Uncertainty in forward GAAP guidance due to unpredictable expenses
Revenue & Expenses
Visualization of income flow from segment revenue to net income