Rubrik Inc. came in ahead of expectations for its fiscal 2026 first quarter today, but its stock rose less than a point in after-hours trading.

For the quarter ended April 30, the data security provider reported an adjusted earnings per share loss of 15 cents, down from a loss of $1.58 per share in the same quarter of the previous fiscal year, on revenue of $278.5 million, up 49% year-over-year. Both figures were ahead of the 32-cents-per-share loss and revenue of $260.4 million expected by analysts.

Rubrik’s strong headline revenue growth was driven by subscription revenue, which was up 54% year-over-year, to $266.8 million. As of the end of the quarter, the company’s annual recurring revenue was sitting at $1.181 billion, up 38%, and cloud ARR jumped 60%, to $972 million. Rubrik also had 2,391 customers with subscription ARR of $100,000 or more.

Business highlights in the quarter included Rubrik’s expansion of cyber resilience capabilities in early March. The update introduced enhanced protection across cloud and enterprise environments, including new identity recovery features for Active Directory Forests and artificial intelligence-driven anomaly detection for Azure and Amazon Web Services Inc.

The same month, Rubrik also rolled out support for Oracle Cloud Infrastructure, extending its Security Cloud to cover Oracle Cloud VMware Solution and self-managed Oracle databases.

In April, the company launched new identity resilience features to protect against the growing threat of credential-based attacks. The offering provides broader identity coverage across hybrid environments and faster restoration capabilities, allowing organizations to better withstand and recover from identity-related breaches.

To close the quarter, on April 30 Rubrik announced a strategic collaboration with Rackspace Technology Inc. to launch the Rackspace Cyber Recovery Cloud. The fully managed, isolated recovery platform helps customers in regulated industries rapidly restore mission-critical systems after cyber incidents.

“Our outstanding first-quarter results not only surpassed all guided metrics but also underscore the power of our focused innovation and execution,” co-founder and Chief Executive Bipul Sinha said in the company’s earnings release. “We are winning the cyber resilience market, and I believe that our opportunity is bigger than ever.”

For its fiscal 2026 second quarter, Rubrik expects an adjusted earnings per share loss of 33 to 35 cents on revenue of $281 million to $283 million. Both outlooks were ahead of the 36-cent loss and revenue of $273 million expected by analysts.

For the full year, the company expects and adjusted earnings per share loss of 98 cents to $1.02 on revenue of $1.179 billion to $1.388 billion.

Photo: Rubrik