Rubrik, Inc. · NYSE:RBRK

Rubrik — Q1 2027 Earnings Presentation

28 slides from Rubrik's earnings presentation, Jun 4, 2026

Slide 2: Important Notice and Disclaimers
Important Notice and Disclaimers Forward-Looking Statements This presentation and the related conference call contain express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Rubrik’s financial outlook
Slide 5: Our Platform Delivers Exceptional Customer Outcomes
Our Platform Delivers Exceptional Customer Outcomes Cyber Resilience True Platform Multi-Product Offerings One platform to manage Fast cyber recovery with Data + Security + AI = Enterprise, Cloud, Unstructured Data, Preemptive Recovery Engine Critical commercial solutions SaaS, and Identity Provider
Slide 6: Cyber Resilience Across Data + Identity
Enterprise On-premises Cyber Resilience Across Data + Identity CYBER INTEGRATIONS Windows Palo Alto Networks Cloud Cloud Zscaler Enterprise DSPM SaaS Anomaly Detection Threat Containment SaaS Unstructured Threat Monitoring Identity Resilience Orchestrated Recovery Identity Provider Turbo Threat Hunt
Slide 8: High Growth Subscription Business at Scale
High Growth Subscription Business at Scale $1,565 $1,394 120% Subscription ARR Cloud ARR Average Subscription 32% YoY 43% YoY Dollar-Based NRR 2,946 83% >80 Customers with $100K+ Non-GAAP Gross Margin2 Net Promoter Score1 in Subscription ARR Note: Numbers are round ed for pr ese nta tion pu rposes.
Slide 9: Our Business Model
ARR Revenue Profitability Metrics Gross Margin Our Free Cash Flow Subscription Business Subscription ARR Revenue Subscription ARR Model Contribution Margin Copyright © Rubrik 2026 Note: Plea se see Appen dix for descr iptio ns of Fre e Cash Flow, Su bscription ARR, and Sub scription ARR Contribution
Slide 10: Rapid Subscription ARR Growth at Scale
Rapid Subscription ARR Growth at Scale 32% YoY Growth $1,565 $1,462 $1,347 $1,252 $1,181 $1,093 $1,002 $919 $856 $784 $725 $655 $587 Subscription ARR Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Q4 Q1 2027 Copyright © Rubrik 2026 Note: Fiscal Qua rte r E nd April 30. Data as of April 30, 2026. Pl
Slide 11: Drivers of ARR Growth: Landing…
Drivers of ARR Growth: Landing… Rubrik Security Cloud Enterprise Cloud SaaS Unstructured Data Identity Providers New Customers CONFIDENTIAL Copyright © Copyright © Rubrik Rubrik 2026 2023 11 11
Slide 12: …Expanding and Extending…
…Expanding and Extending… Rubrik Security Cloud Enterprise Cloud SaaS Unstructured Data Identity Providers New Customers CONFIDENTIAL Copyright © Copyright © Rubrik Rubrik 2026 2023 12 12
Slide 13: …Expanding and Extending…
…Expanding and Extending… 120% Average Subscription Dollar-Based NRR Rubrik Security Cloud Enterprise Cloud SaaS Unstructured Data Identity Providers New Customers CONFIDENTIAL Copyright © Copyright © Rubrik Rubrik 2026 2023 Note: FYE Ja nuary 31. Fiscal Qu arter End April 30. Data as o f April 30,
Slide 14: Strong Customer Growth and Expansion
Strong Customer Growth and Expansion Subscription ARR Cohort Analysis Customers with $100k or More in Subscription ARR 2,946 2,805 2,381 2,246 Subscription ARR 1,742 1,204 628 309 137 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 Q1 F
Slide 15: Strong Top-Line Growth
Strong Top-Line Growth Subscription ARR, Year-Over-Year Growth Revenue, Year-Over-Year Growth Reported Revenue Normalized Revenue 1 51% 49% 48% 47% 46% 43% 43% 39% 40% 39% 38% 37% 37% 36% 36% 34% 34% 32% Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
Slide 16: Strong Non-GAAP Gross Margin And Positive Free Cash Flow
Strong Non-GAAP Gross Margin And Positive Free Cash Flow Non-GAAP Gross Margin (%) Non-GAAP FCF1 Margin (%) 82% 81% 83% 18% 19% 77% 78% 70% 12% 2% (3)% (4)% FY23 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY23 FY24 FY25 FY26 Q1 FY26 Q1 FY27 CONFIDENTIAL Note: FYE Ja nuary 31. Fiscal Qua rte r E nd April 30. Dat
Slide 17: Operating Leverage Continues to Improve with Scale & Efficiency
Operating Leverage Continues to Improve with Scale & Efficiency Non-GAAP Subscription ARR Contribution Margin (%) Subscription ARR 13% 12% (-) LTM Non-GAAP Subscription 2% Cost of Revenue LTM Non-GAAP (-) Operating Expenses (12)% Subscription ARR Contribution Margin Better indicator of (38)% operati
Slide 18: Q2 FY27 and FY27 Guidance
Q2 FY27 and FY27 Guidance Q2 FY2027 FY2027 Subscription ARR $1,854M – $1,862M Total Revenue $395M - $397M $1,638M - $1,648M Subscription ARR 11-12% ~14% Contribution Margin Non-GAAP EPS $0.03 - $0.05 $0.25 - $0.35 Weighted Average Shares 224M 228M Outstanding Free Cash Flow $293M - $303M LTM ≈ Note:
Slide 19: Additional Modeling Points
Additional Modeling Points Material Rights • Non-recurring revenue related to material rights added ~$8.5 million in revenue in Q1 FY27 compared to ~$13.4 million in Q1 FY26. Revenue • We expect ~$3-4 million in non-recurring revenue related to material rights in Q2 FY27. • We expect ~$17 million in
Slide 20: Material Rights Contribution to Revenue: Last 5 Quarters
Material Rights Contribution to Revenue: Last 5 Quarters Subscription Revenue, $ in Millions Revenue related to Material Rights Revenue related to Subscription Revenue (excl. Material Rights) $9 $18 $25 $14 $13 $366 $347 $312 $283 $252 Q1'26A Q2'26A Q3'26A Q4'26A Q1'27A CONFIDENTIAL Copyright © Copy
Slide 22: Key Business Metrics Glossary
Key Business Metrics Glossary Subscription ARR Subscription ARR is calculated as the annualized value of our active subscriptions as of the measurement date, based on our customers’ total contract value, and assuming any contract that expires during the next 12 months is renewed on existing terms.
Slide 23: Explanation of Non-GAAP Financial Measures
Explanation of Non-GAAP Financial Measures Free Cash Flow Rubrik defines free cash flow as net cash provided by (used in) operating activities less cash used for purchases of property and equipment and capitalized internal-use software. Free cash flow margin is calculated as free cash flow divided b
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Gross Profit ($ in thousands) FY 2023 FY 2024 FY 2025 FY 2026 Q1 FY26 Q1 FY27 GAAP Gross Profit $ 417,805 $ 482,930 $ 620,796 $ 1,054,314 $ 217,998 $311,783 Amortization of Acquired Intangibles 822 1,676 3,673 7,488 960 2,802 Stock-based Compensation Expense 514 216 6
Slide 25: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating Expenses ($ in thousands) FY 2023 FY 2024 FY 2025 FY 2026 Q1 FY26 Q1 FY27 GAAP Research & Development Expense $ 175,057 $ 206,527 $ 531,615 $ 373,682 $ 81,815 $ 114,341 Stock-based Compensation Expense (3,044) (3,590) (297,051) (102,730) (19,812) (33,026) No
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Loss from Operations ($ in thousands) FY 2023 FY 2024 FY 2025 FY 2026 Q1 FY26 Q1 FY27 GAAP Loss from Operations $ (261,548) $ (306,506) $ (1,134,032) $ (345,416) $ (93,091) $ (52,634) Amortization of Acquired Intangibles 822 1,676 3,673 7,488 960 2,802 Stock-based Com
Slide 27: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Subscription ARR Contribution Margin ($ in thousands) FY 2024 FY 2025 FY 2026 LTM Q1 FY27 GAAP Subscription Cost of Revenue $ 97,927 $ 215,036 $ 229,741 $ 244,552 Amortization of Acquired Intangibles (1,676) (3,673) (7,488) (9,330) Stock-based Compensation from Amorti
Slide 28: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Free Cash Flow ($ in thousands) FY 2023 FY 2024 FY 2025 FY 2026 Q1 FY26 Q1 FY27 Net Cash Used in Operating Activities $ 19,287 $ (4,518) $ 48,228 $ 282,908 $ 39,655 $ 81,689 Purchase of Property and Equipment (25,017) (12,333) (16,885) (29,631) (2,850) (4,277) Capital

Rubrik — Q1 2027 Earnings Presentation on 6ix

Rubrik — Q1 2027 Earnings Presentation

Slide 1: Investor Presentation First Quarter Fiscal 2027

Slide 2: Important Notice and Disclaimers

Slide 3: Our Mission

Slide 4: Cyber Resilience = AI Resilience

Slide 5: Our Platform Delivers Exceptional Customer Outcomes

Slide 6: Cyber Resilience Across Data + Identity

Slide 7: Financial Overview

Slide 8: High Growth Subscription Business at Scale

Slide 9: Our Business Model

Slide 10: Rapid Subscription ARR Growth at Scale

Slide 11: Drivers of ARR Growth: Landing…

Slide 12: …Expanding and Extending…

Slide 13: …Expanding and Extending…

Slide 14: Strong Customer Growth and Expansion

Slide 15: Strong Top-Line Growth

Slide 16: Strong Non-GAAP Gross Margin And Positive Free Cash Flow

Slide 17: Operating Leverage Continues to Improve with Scale & Efficiency

Slide 18: Q2 FY27 and FY27 Guidance

Slide 19: Additional Modeling Points

Slide 20: Material Rights Contribution to Revenue: Last 5 Quarters

Slide 21: Appendix

Slide 22: Key Business Metrics Glossary

Slide 23: Explanation of Non-GAAP Financial Measures

Slide 24: GAAP to Non-GAAP Reconciliation

Slide 25: GAAP to Non-GAAP Reconciliation

Slide 26: GAAP to Non-GAAP Reconciliation

Slide 27: GAAP to Non-GAAP Reconciliation

Slide 28: GAAP to Non-GAAP Reconciliation