Rubrik Reports 49% Revenue Growth to $278.5 Million, Acquires Laminar for $104.9 Million

Rubrik, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenue reaching $278.5 million for the three months ended April 30, 2025, a 49% increase from $187.3 million in the same period last year. The company's subscription revenue, which constitutes the bulk of its earnings, surged by 54% to $265.7 million, driven by a growing customer base and increased adoption of its Rubrik Security Cloud (RSC) platform. Despite these gains, Rubrik recorded a net loss of $102.1 million, a notable reduction from the $732.1 million loss reported in the prior year, reflecting a substantial decrease in operating expenses.

The company’s operational metrics indicate a strong upward trajectory, with Subscription Annual Recurring Revenue (ARR) climbing to $1.18 billion, marking a 38% year-over-year growth. This growth was supported by an increase in the number of customers with $100,000 or more in Subscription ARR, which rose by 28% to 2,381. Additionally, Rubrik's average subscription dollar-based net retention rate remained robust at over 120%, underscoring the company's ability to retain and expand its existing customer relationships.

Strategically, Rubrik has made significant moves to enhance its market position, including the acquisition of Laminar, a data security posture management platform, for approximately $104.9 million. This acquisition is expected to bolster Rubrik's offerings in the data security space. The company has also transitioned its sales model, moving from perpetual licenses to a subscription-based model, which is anticipated to stabilize revenue recognition and improve cash flow predictability in the long term.

Geographically, Rubrik's revenue distribution shows strong performance in the Americas, which accounted for $202.8 million, or 73% of total revenue, while EMEA and APAC contributed $64.8 million and $11.0 million, respectively. The company continues to expand its global footprint, focusing on increasing its market share in the rapidly evolving data security sector. As of April 30, 2025, Rubrik had cash and cash equivalents totaling $284.0 million, providing a solid foundation for future investments and operational needs.

Looking ahead, Rubrik anticipates continued growth driven by the increasing demand for its RSC platform and ongoing customer transitions from legacy systems. The company expects fluctuations in revenue as customers exercise or forfeit Subscription Credits, but remains optimistic about its long-term growth trajectory. Rubrik's management is committed to investing in research and development to enhance its product offerings and maintain its competitive edge in the data security market.