Rubrik, Inc. (RBRK) Stock

Rubrik, Inc. (RBRK) is a Technology stock trading at $103.54 (as of 2026-09-15), with a market capitalization of $21.34B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rubrik, Inc. provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors. Rubrik, Inc. was formerly known as Scaledata, Inc. and changed its name to Rubrik, Inc. in October 2014. The company was incorporated in 2013 and is based in Palo Alto, California.

Understand Rubrik, Inc.: how it makes money

Rubrik sells cloud-based data-protection software (backups, cyber recovery, data analytics) to enterprises, collected almost entirely as annual subscriptions. The revenue base is still dominated by core backup, but identity resilience and AI-agent features are building a second growth pillar.

Once an enterprise builds its data-recovery architecture on Rubrik, switching is operationally expensive, and each add-on (identity, AI analytics) rides on an already-locked, 80%-gross-margin subscription base.

Business quality (Weak): Growth and gross margin are strong, but the company is still 14 points below operating breakeven, so the profit model is proven at the revenue line, not yet at the bottom line.

Bull case

  • Record quarterly ARR adds: Q1 net-new subscription ARR hit a record $103 million, confirming that enterprise demand for data security is still accelerating rather than peaking.
  • Identity builds a second pillar: Identity-resilience ARR crossed $50 million on 38% sequential growth, giving Rubrik a faster-growing product line that layers onto the backup base and reduces single-product dependence.
  • Growth at 80% gross margin: Revenue grew 39% year-over-year to $400 million in the quarter while gross margin held at 80%, a combination that should improve operating economics as subscription scale compounds.

Bear case

  • Legacy revenue is fading: Material-rights revenue is expected to fall substantially in the coming period, meaning part of the reported top line is shrinking even as subscriptions grow, and the net growth figure may look cooler than the ARR trend suggests.
  • Losses persist, investment deepens: Operating margin stands at negative 14%, and management plans additional R&D and go-to-market investments that will limit the near-term path to profitability.
  • Agent Cloud still unproven: Agent Cloud is described as an early go-to-market product with execution still developing, so the AI angle adds optionality but cannot yet be counted on to drive meaningful near-term revenue.
Valuation — source: SEC EDGAR (first-party)
Price$103.54
Market Cap$21.34B
Price / Sales13.84
FCF Yield1.4%
DCF Value (model)$30.55
DCF Upside vs Price-70.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.32B
Net Margin-26.5%
Current Ratio1.64
Revenue Growth (YoY)37.9%
EPS Growth (YoY)-38.8%
FCF Growth (YoY)16.4%
Financial Health — source: SEC EDGAR
Altman Z-Score2.56 (grey)
Valuation vs Sector & Industry
Sector P/E (Technology)30.8
Industry P/E (Business Services)25.7
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($1.12B)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOBipul Sinha
Employees3,200
CountryUS
IPO Date2024-04-25

Rubrik, Inc. earnings call transcripts

  • RBRK Q2 FY27 earnings call transcript (reported 2026-08-27) · analysis
  • RBRK Q1 FY27 earnings call transcript (reported 2026-06-04) · analysis
  • RBRK Q4 FY26 earnings call transcript (reported 2026-03-12) · analysis
  • RBRK Q3 FY26 earnings call transcript (reported 2025-12-04) · analysis
  • RBRK Q2 FY26 earnings call transcript (reported 2025-09-09) · analysis
  • RBRK Q1 FY25 earnings call transcript (reported 2024-06-11) · analysis

All RBRK earnings calls

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RBRK earnings history · RBRK institutional & insider holders · RBRK KPIs & operating metrics · RBRK financials · RBRK filings, presentations & press releases · RBRK investor presentations & press releases · RBRK SEC filings · RBRK peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-15.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.