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Rubrik Inc. Class A (RBRK-8.35%) has filed its annual report on Form 10-K for the fiscal year ended January 31, 2025 filing.
The filing includes financial statements showing total revenue of $886.5 million, an increase from $627.9 million in the previous year. Subscription revenue, which comprises the majority of Rubrik's revenue, grew significantly to $828.7 million from $537.9 million.
The company reported a net loss of $1,154.8 million, compared to a net loss of $354.2 million in the previous year. This increase in net loss is attributed to a substantial rise in stock-based compensation expenses following the company's initial public offering.
Rubrik's Subscription Annual Recurring Revenue (ARR) reached $1,092.6 million, representing a 39% increase from the previous year. The company also reported a Cloud ARR of $875.6 million, a 67% increase year-over-year.
The company highlighted its transition to Rubrik Security Cloud (RSC), a cloud-native SaaS platform, as a key strategic focus. This transition is expected to continue influencing revenue recognition patterns as more customers adopt RSC.
Rubrik's cash, cash equivalents, and short-term investments totaled $705.1 million as of January 31, 2025. The company believes its existing cash resources will be sufficient to fund its operations for at least the next 12 months.
The filing also details Rubrik's acquisition of Laminar, a data security posture management platform, for $104.9 million. This acquisition is intended to enhance Rubrik's cyber posture offerings.
Rubrik continues to focus on expanding its customer base and increasing sales to existing customers. The company reported having 2,246 customers with $100,000 or more in Subscription ARR, up from 1,742 in the previous year.
The company identified several risk factors, including the competitive nature of the data security market, reliance on third-party cloud providers, and potential fluctuations in foreign currency exchange rates.
Rubrik's board of directors oversees the company's cybersecurity risk management, with regular reports from the Chief Information Security Officer and related teams on significant cybersecurity threats and mitigation processes.
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 annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.