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Rubrik Inc. Class A (RBRK-0.63%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing total revenue of $236.2 million, up from $165.6 million in the same quarter the previous year. Subscription revenue increased to $221.5 million from $143.4 million, while maintenance and other revenue decreased.
Cost of revenue for the quarter was $56.1 million, compared to $33.7 million in the same quarter of the previous year. This increase is attributed to higher hosting costs and stock-based compensation expenses.
The company reported a gross profit of $180.0 million for the quarter, compared to $131.9 million in the previous year. Gross margin decreased to 76% from 80% due to increased costs.
Research and development expenses rose to $80.1 million from $51.4 million, driven by increased headcount and stock-based compensation.
Sales and marketing expenses increased to $158.9 million from $120.8 million, primarily due to higher employee compensation.
General and administrative expenses rose to $65.9 million from $25.0 million, largely due to stock-based compensation and increased headcount.
The company reported a net loss of $130.9 million for the quarter, compared to a net loss of $86.3 million in the previous year. This was influenced by increased operating expenses and interest expenses.
Cash used in operating activities was $35.4 million, while cash used in investing activities was $387.6 million, primarily due to purchases of investments.
Rubrik had a working capital of $943.7 million as of October 31, 2024. The company continues to focus on expanding its customer base and enhancing its platform capabilities.
The filing also discusses various risks, including competition, market growth, and reliance on third-party cloud providers.
Rubrik does not anticipate cash dividend payments to stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rubrik Inc. Class A quarterly 10-Q report dated December 12, 2024. To report an error, please email earnings@qz.com.