Key facts
- Rubrik reported Q1 fiscal 2027 revenue of $387.1 million, up 39% year-over-year.
- Subscription revenue increased 41% to $374.2 million.
- Annual recurring revenue (ARR) reached $1.57 billion, a 32% increase.
- GAAP gross margin rose to 80.5%, and free cash flow was $73.6 million.
- Rubrik raised its full fiscal year 2027 revenue guidance to $1.638-$1.648 billion.
- The company's stock fell after the earnings release and guidance update.
Rubrik, Inc. reported its first-quarter fiscal 2027 results for the period ending April 30, 2026. Total revenue reached $387.1 million, a 39% increase from $278.5 million in the prior year. Subscription revenue grew 41% to $374.2 million, contributing to an annual recurring revenue (ARR) of $1.57 billion, up 32% year-over-year. The company improved profitability with GAAP gross margin rising to 80.5% and free cash flow reaching $73.6 million, up from $33.3 million a year ago. Rubrik is expanding its AI-driven cybersecurity offerings, including integrations with Anthropic and Google Cloud's Gemini Enterprise Agent Platform, and launching its AI governance engine, SAGE. Despite these strong results and an increased full-year revenue outlook of $1.638 billion to $1.648 billion, the company's stock (RBRK) fell after hours, closing at $77.00 and then dropping to $75.61. Rubrik guided for second-quarter fiscal 2027 revenue between $395 million and $397 million. For the full fiscal year, it forecasts subscription ARR between $1.854 billion and $1.862 billion, and free cash flow between $293 million and $303 million. The company ended the quarter with $1.75 billion in cash and investments and serves 2,946 customers with at least $100,000 in ARR. Following the results, Stephens raised its stock price target for Rubrik.