Rubrik Reports Q2 Earnings: Subscription ARR Reaches $1.66 Billion
In its second-quarter earnings call for fiscal year 2027, Rubrik reported strong financial performance driven by growth in subscription Annual Recurring Revenue (ARR). The company achieved a total subscription ARR of $1.66 billion, reflecting 33% annual growth and fueled by robust net new subscriptions. Cloud-based ARR accounted for the majority at $1.48 billion or 89%, growing 39% year over year. Rubrik's revenue reached $427.3 million in Q2, up 38% from last year when normalized for material rights revenue. The company also reported a non-GAAP EPS of $0.20 and improved free cash flow to $65.7 million compared to the prior year period. Management highlighted strong customer growth with over 3,000 high-ARR customers and noted that large enterprise clients now contribute 88% of total subscription ARR. Looking ahead, Rubrik provided guidance for Q3 revenue between $429–$431 million and expects fiscal year 2027 subscription ARR to reach up to $1.885 billion. However, CFO Kiran Choudary warned that reduced material rights revenue will pose a headwind in the coming quarters.
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Topics: cloud_services revenue_performance subscription_growth