Filing Flows › Rubrik (RBRK) › Q2 FY27
Rubrik (RBRK) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 1, 2026
Rubrik (RBRK) reported revenue of $427M for the second quarter fiscal 2027 (Q2 FY27), +38% from a year earlier and +10% from the quarter before. Operating margin was -16.8%, net loss $61.8M (14.5% of revenue).
Rubrik, Q2 FY27: revenue $427M (+38% year over year), operating margin -16.8%, net loss $61.8M, operating cash flow $76.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $427M | +10% | +38% |
| Operating profit | −$71.9M | — | — |
| Net earnings | −$61.8M | — | — |
| Operating cash flow | $76.8M | -6% | +19% |
| Free cash flow | $65.7M | — | — |
What changed
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.
Questions
What was Rubrik's revenue in the second quarter fiscal 2027?
Rubrik (RBRK) reported revenue of $427M for the second quarter fiscal 2027 (Q2 FY27), +38% from a year earlier and +10% from the quarter before.
Was Rubrik profitable in the second quarter fiscal 2027?
Operating loss was $71.9M (-16.8% of revenue) and net loss $61.8M.
Source: Rubrik 10-Q on SEC EDGAR.