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Rubrik Reports Second Quarter Fiscal Year 2027 Financial Results
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Results exceeded all guided metrics
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Raising guidance for all guided metrics for fiscal year 2027
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Second quarter subscription ARR grew 33% year-over-year to $1.66 billion
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Second quarter revenue grew 38% year-over-year to $427.3 million
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Operating cash flow margin of 18%; free cash flow margin of 15%
PALO ALTO, Calif., August 27, 2026–(BUSINESS WIRE)–Rubrik, Inc. (NYSE: RBRK), the Security and AI Operations company, today announced financial results for the second quarter of fiscal year 2027, ended July 31, 2026.
“Mythos and frontier AI models have fundamentally changed the cybersecurity landscape. This new reality demands not only machine speed cyber recovery but also autonomous runtime AI agent security. Rubrik’s Agentic Cyber Resilience delivers on both to enable trusted AI transformation. We are more confident than ever that we are in the early innings of the AI acceleration opportunity,” said Bipul Sinha, Rubrik’s Chief Executive Officer, Chairman, and Co-Founder.
Commenting on the company’s financial results, Kiran Choudary, Rubrik’s Chief Financial Officer, added, “Subscription ARR growth of 33%, expanding Subscription ARR contribution margins, and a raised outlook are a testament to our confidence in our solid execution at scale. We are pleased to enter the second half of fiscal year 2027 from a position of strength.”
Second Quarter Fiscal 2027 Financial Highlights
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Subscription Annual Recurring Revenue (ARR):Subscription ARR grew 33% year-over-year to $1.66 billion as of July 31, 2026 with net new Subscription ARR up 35% year-over-year. Cloud ARR grew 39% year-over-year to $1.48 billion as of July 31, 2026. Adjusted net new Cloud ARR grew 20% year-over-year in the second quarter of fiscal 20271.
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Revenue: Subscription revenue was $407.2 million, a 37% increase compared to $297.0 million in the second quarter of fiscal 2026. Total revenue was $427.3 million, a 38% increase compared to $309.9 million in the second quarter of fiscal 2026. This includes $4.7 million in revenue from material rights in the second quarter of fiscal 2027 and $14.2 million in revenue from material rights in the second quarter of fiscal 2026. Revenue normalized for material rights increased 43% year-over-year in the second quarter of fiscal 2027.
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Gross Margin: GAAP gross margin was 78.4%, compared to 79.5% in the second quarter of fiscal 2026. Non-GAAP gross margin was 81.0%, compared to 81.6% in the second quarter of fiscal 2026.
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Subscription ARR Contribution Margin: Subscription ARR contribution margin was 14.0% compared to 9.4% in the second quarter of fiscal 2026, reflecting the strong net new subscription ARR in the quarter and an improvement in operating leverage in the business.
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Net Income/Loss per Share: GAAP net loss per share was $(0.30), compared to $(0.49) in the second quarter of fiscal 2026. Non-GAAP net income per share, diluted, was $0.20, compared to non-GAAP net loss per share, diluted, of $(0.03) in the second quarter of fiscal 2026.
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Cash Flow from Operations: Cash flow from operations was $76.8 million, compared to $64.7 million in the second quarter of fiscal 2026. Free cash flow was $65.7 million, compared to $57.5 million in the second quarter of fiscal 2026.
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Cash, Cash Equivalents, and Short-Term Investments: Cash, cash equivalents, and short-term investments were $1.75 billion as of July 31, 2026.
