Latest quarter
Rubrik reported Q2 FY2027 revenue of $427.3 million, up 37.9% from $309.9 million a year earlier and above the consensus of $396.4 million. The company’s diluted loss per share narrowed to −$0.30 from −$0.49.
In its filing, Rubrik attributed subscription revenue growth to higher subscription annual recurring revenue and more upfront revenue from term-based licenses for its RSC-Private suite. The company said subscription annual recurring revenue rose to $1.66 billion as of July 31, 2026, from $1.25 billion a year earlier. It also attributed growth in other revenue primarily to higher hardware sales in international regions, including APAC.
Rubrik reported gross margin of 78.4%, compared with 79.5% a year earlier. The filing said subscription gross margin increased as revenue expanded faster than associated costs, while other gross margin declined because hardware costs rose. Operating margin improved to −16.8% from −30.5%, and free cash flow increased to $65.7 million from $57.5 million.
| Q2 FY2027 | Q2 FY2026 | Change | |
|---|---|---|---|
| Revenue | $427.3 million | $309.9 million | 37.9% |
| Diluted EPS | −$0.30 | −$0.49 | — |
| Gross margin | 78.4% | 79.5% | −1.1 percentage points |
| Operating margin | −16.8% | −30.5% | 13.7 percentage points |
| Free cash flow | $65.7 million | $57.5 million | 14.1% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Revenue | $427.3 million | $396.4 million | Beat by 7.78% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Rubrik’s latest earnings call was unavailable for review, so its call commentary and analysts’ questions cannot be reported.
Guidance
Rubrik’s current outlook covers revenue and non-GAAP net income per share for Q3 FY2027. For FY2027, its outlook covers revenue, free cash flow and non-GAAP net income per share.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Free cash flow | FY2027 | $323.0 million–$333.0 million | — | New |
| EPS, non-GAAP | FY2027 | $0.47–$0.53 | — | New |
| Revenue | FY2027 | $1.7 billion–$1.7 billion | — | New |
| EPS, non-GAAP | Q3 FY2027 | $0.07–$0.09 | — | New |
| Revenue | Q3 FY2027 | $429.0 million–$431.0 million | — | New |