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Rubrik (RBRK) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 1, 2026 · Rubrik (RBRK) Q2 FY27 earnings results →

Q2 FY27 Revenue up 38% year over year to $427M · 14¢ of every $1 of revenue lost · operating margin -16.8%

Rubrik made $427M in Q2 FY27 (+38% Y/Y): Subscription $407M, Other $20.1M. Operating margin -16.8%, net loss $61.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 1, 2026.

Revenue$427M
Year over year+38%
Operating margin-16.8%
Net earnings−$61.8M
Operating cash flow$76.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $427.3M in Q2 FY27, up 38% year over year and up 10% from the previous quarter. Subscription was the largest line at 95% of revenue. Subscription added $110.2M year over year (up 37%), 94% of the total change.

Gross margin was 78.4%, down 1.1 points from Q2 FY26. Operating costs exceeded revenue by $71.9M, an operating margin of -16.8%. Operating expenses grew 19% against revenue growth of 38%. The fastest-growing cost line was Research & development (+38%). The quarter ended with a net loss of $61.8M, wider than the previous quarter's $41.9M loss. Non-operating items added $15.6M, -28% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $76.8M (up 19% year over year). Non-cash charges added back $12.5M of depreciation and amortization and $101.0M of share-based compensation. Working capital and other items added $25.1M. After purchases of property and equipment ($5.6M) and capitalized internal-use software ($5.6M), free cash flow as the company reports it was $65.7M.

Quarterly history

Rubrik revenue by quarterRubrik revenue by quarter$258MQ4 FY25$278MQ1 FY26$310MQ2 FY26$350MQ3 FY26$378MQ4 FY26$387MQ1 FY27$427MQ2 FY27
Rubrik net earnings by quarterRubrik net earnings by quarter−$115MQ4 FY25−$102MQ1 FY26−$95.9MQ2 FY26−$63.8MQ3 FY26−$87.0MQ4 FY26−$41.9MQ1 FY27−$61.8MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 1, 2026$427M+38%-16.8%−$61.8M$76.8M
Q1 FY2710-QJun 5, 2026$387M+39%-13.6%−$41.9M$81.7M
Q4 FY2610-KMar 19, 2026$378M+46%-21.8%−$87.0M$93.0M
Q3 FY2610-QDec 8, 2025$350M+48%-21.6%−$63.8M$85.5M
Q2 FY2610-QSep 10, 2025$310M+51%-30.5%−$95.9M$64.7M
Q1 FY2610-QJun 9, 2025$278M+49%-33.4%−$102M$39.7M
Q4 FY2510-KMar 20, 2025$258M+48%-45.0%−$115M$83.6M

Charts

Rubrik: revenue growth, year over year and quarter over quarterRubrik: revenue growth, year over year and quarter over quarterY/YQ/Q+48%Q4 FY25+49%+8%Q1 FY26+51%+11%Q2 FY26+48%+13%Q3 FY26+46%+8%Q4 FY26+39%+2%Q1 FY27+38%+10%Q2 FY27
Latest (Q2 FY27): Y/Y +38%, Q/Q +10%.
Rubrik: where the cash came from (+) and went (−), TTM to Q2 FY27Rubrik: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$337MOther investing−$144MCash drawn (+) / kept (−)−$91.9MTaxes on employees’ shares−$59.6MAcquisitions−$35.3MCapital spending−$33.2MOther financing$31.3MExchange rates−$7.2MShares issued$2.5M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Rubrik: profit against cash, quarter by quarterRubrik: profit against cash, quarter by quarterNet incomeOperating cash flow−$131M$23.1MQ3 FY25−$115M$83.6MQ4 FY25−$102M$39.7MQ1 FY26−$95.9M$64.7MQ2 FY26−$63.8M$85.5MQ3 FY26−$87.0M$93.0MQ4 FY26−$41.9M$81.7MQ1 FY27−$61.8M$76.8MQ2 FY27
Latest (Q2 FY27): Net income −$61.8M, Operating cash flow $76.8M.
Rubrik: diluted shares by fiscal yearRubrik: diluted shares by fiscal year60MFY2361MFY24154MFY25196MFY26
+229.7% since FY23: more shares outstanding (issuance, stock pay).
Rubrik in its industry: growth against margin (192 companies, SIC 7372)Rubrik in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETAACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYRBRK (+38%, -17%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Rubrik

Organizations are facing new challenges. Cyberattacks are inevitable. Prevention and detection are not enough. Realizing that cyberattacks ultimately target data, we created Zero Trust Data Security to deliver cyber resilience so that organizations can secure their data across the cloud and recover from cyberattacks. As enterprises embrace the forthcoming AI transformation, they are grappling with a threat landscape that is now amplified at an AI-scale. We believe that cyber resilience will result in AI resilience and that the future of cybersecurity is data security—if your data is secure, your business is resilient.

In its own words, from its 10-K, filed Mar 19, 2026.

Rubrik against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +38% against the peers' median +19%. Operating margin: -16.8% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
RBRK RubrikQ2 FY27$427M+38%-16.8%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Rubrik 10-Q on SEC EDGAR · CIK 1943896 · Services-Prepackaged Software

Guidance and outlook

Rubrik Revenue: guidance against what was reportedRubrik Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 FY26$310MQ3 FY26$350MFY26$1.3BQ4 FY26$378MFY27Q1 FY27$387MQ2 FY27$427MQ3 FY27
Met or beat 9 of 9 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns RBRK and who is buying

Largest holders of RBRK (13F)Largest holders of RBRK (13F)Vanguard Group$1.1BBlackRock$802MAQR Capital Management LLC$780MFMR LLC$739MVanguard Portfolio Management LLC$666MVanguard Capital Management LLC$553MFirst Trust Advisors LP$480MVoya Investment Management LLC$322MGeode Capital Management, LLC$231MState Street$230M
Funds' net buying of RBRK by quarter (13F)Funds' net buying of RBRK by quarter (13F)$41.2M2024-09$110M2024-12$1.1B2025-03$1.6B2025-06$546M2025-09$567M2025-12$97.6M2026-03$776M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RBRK

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Rubrik（RBRK）财报

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