Rubrik, Inc. · RBRK · FY2027 Q2 · Calendar Q3 2026

Rubrik raises FY2027 outlook as agentic cyber resilience gains traction

Rubrik’s current results support the view that resilient demand and earnings growth can persist over the next year: subscription ARR growth remained strong, free cash flow and contribution margin improved, and management raised its FY2027 outlook. The thesis is not yet risk-free because cloud net-new ARR growth trails total growth, newer products are still scaling, and competition and execution could affect the trajectory.

Reported After market closeNYSETechnology $21.96B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.20 Consensus $0.04
EPS surprise +411.8% Reported versus consensus
Reported revenue $427.3M Consensus $396.3M
Revenue surprise +7.8% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -13.1% Event window
SPY move -0.2% Same window
Abnormal move -12.8% Stock minus SPY
Volume 2.7× Versus trailing sessions
Subsequent drift +14.7% Up to 20 sessions
RBRKSPY benchmark

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Why did RBRK fall 13.1% after beating EPS estimates in FY2027 Q2?What changed in RBRK's guidance and outlook in FY2027 Q2?Give me the bull and bear case for RBRK after FY2027 Q2 earnings.

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Transcript intelligence

What changed

Relative to the prior quarter, subscription ARR growth increased from 32% to 33% year over year and management again raised the full-year outlook. The company added that Strata Identity contributed zero ARR this quarter, while Identity Resilience and Rubrik Agent Cloud were highlighted as emerging growth engines. Net retention was above 119%, versus 120% in the prior quarter.

Guidance delta

Raised: FY2027 outlook now targets approximately 29% ARR growth and 15.5% non-GAAP ARR contribution margin.

Key takeaways

  • Subscription ARR reached $1.66 billion, up 33% year over year, with net-new ARR of $96 million and net retention above 119%.
  • Free cash flow was $66 million, while subscription ARR contribution margin improved by 460 basis points.
  • Management linked demand to AI-driven cyber threats and emphasized Identity Resilience and Rubrik Agent Cloud as emerging growth engines.
  • Strata Identity contributed zero ARR this quarter and is excluded from guidance.
  • The prior quarter featured 32% ARR growth, 120% net retention and 89% of subscription ARR from the cloud, so the current quarter shows continued growth with a modestly lower retention figure.

Management priorities

  • Continue R&D investment in AI, data security and identity.
  • Scale go-to-market efforts in regions and verticals with high return potential.
  • Expand Rubrik Flex adoption in large strategic accounts.
  • Accelerate Identity Resilience and Rubrik Agent Cloud rollout.
  • Pursue complementary acquisitions in areas such as orchestration and AI governance.

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Company context

Snapshot as of publication

Rubrik, Inc. operates as a global provider of advanced data security solutions, catering to a wide range of individuals and businesses. The company's comprehensive suite of offerings addresses various aspects of data protection, including securing enterprise data, unstructured data, cloud environments, and Software-as-a-Service (SaaS) applications. Beyond foundational protection, Rubrik also furnishes tools for data threat analytics, assessing an organization's security posture, and critical cyber recovery capabilities to aid in post-incident remediation. Rubrik serves an extensive array of sectors, counting financial services, retail, trade, transportation, energy, industrial, healthcare, life sciences, education, technology, media, communications, and government entities among its clientele. Established in 2013, the company was initially known as Scaledata, Inc., rebranding to Rubrik, Inc. in October 2014. Its corporate headquarters are situated in Palo Alto, California.

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
ADBE Adobe Inc. FY2026 Q3 · Calendar Q3 2026 +0.8% +1.4% Adobe raises FY26 outlook as AI strategy broadens
ORCL Oracle Corporation FY2027 Q1 · Calendar Q3 2026 +10.3% -1.7% Oracle raises FY27 outlook as AI demand accelerates cloud growth
SAIL SailPoint, Inc. FY2027 Q2 · Calendar Q3 2026 +13.8% -1.2% SailPoint pairs 25% ARR growth with accelerating AI-driven adoption
CIEN Ciena Corporation FY2026 Q3 · Calendar Q3 2026 +22.0% -10.4% Ciena raises outlook as AI networking demand lifts backlog
DOCU DocuSign, Inc. FY2027 Q2 · Calendar Q3 2026 +6.4% +3.7% DocuSign Q2 FY27: IAM momentum supports a raised outlook
IOT Samsara Inc. FY2027 Q2 · Calendar Q3 2026 +25.0% +3.7% Samsara: AI adoption expands as FY27 guidance holds

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-28T13:23:32.777763+00:00
  2. FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
  3. Polygon adjusted daily market bars · 2026-09-21T02:40:49.203210+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T02:40:49.200444+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.