# Rubrik, Inc. (RBRK)

> Source: Nexqual · https://nexqual.com/RBRK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Rubrik, Inc. (RBRK), nexqual.com/RBRK" · informational, not investment advice.

**Price:** USD 120.75 (+0.31% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 120.38 · day 117.79–121.5 · 52w 42.25–127.9 · market cap $24.9B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $1.54B, net income -$254M (-16.5% margin), free cash flow $304M (SEC filings).
- 1 of 80 tracked superinvestors hold RBRK (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 24 Form 4 filings, $46.8M; 2 not under a Rule 10b5-1 plan ($615K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.89 on a 1–5 scale) (28 analysts), mean target USD 120.15 (range 110–139).
- Total return with dividends: 1Y +57.1% vs S&P 500 +14.9%; 5Y +217.8% vs S&P 500 +80.3%.
- Next earnings: 2026-08-27, EPS estimate USD 0.08, revenue estimate $430M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|
| Revenue | $600M | $628M | $887M | $1.32B | $1.54B |
| Gross profit | $418M | $483M | $621M | $1.05B | — |
| Operating income | -$262M | -$307M | -$1.13B | -$345M | -$282M |
| Net income | -$278M | -$354M | -$1.15B | -$349M | -$254M |
| EPS (diluted) | -$4.66 | -$5.84 | -$7.48 | -$1.78 | — |
| Free cash flow | -$5.7M | -$16.9M | $31.3M | $253M | $304M |
| Gross margin | 69.7% | 76.9% | 70.0% | 80.1% | — |
| Operating margin | -43.6% | -48.8% | -127.9% | -26.2% | -18.3% |
| Net margin | -46.3% | -56.4% | -130.3% | -26.5% | -16.5% |
| Revenue growth | — | +4.7% | +41.2% | +48.5% | — |
| Cash + short-term investments | $141M | $279M | $705M | $1.68B | — |
| Total debt | — | $287M | $322M | $1.13B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/S 16.1x · EV/Sales 15.7x · P/FCF 81.8x · FCF yield 1.22% · Earnings yield -1.02% · Net cash $615M · EV $24.2B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold RBRK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | <0.01% | $498K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
22 of 24 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-05…2026-10-07 | Nithrakashyap Arvind | Chief Technology Officer | 38,460 | $4.8M | 12.4% | Yes (adopted October 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-05 | Wassenaar Yvonne | Director | 721 | $86K | 19.4% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-01 | Thompson John Wendell | Director | 13,500 | $1.6M | 50.3% | Yes (adopted October 6, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-15…2026-09-17 | Choudary Kiran Kumar | Chief Financial Officer | 10,000 | $1.0M | 1% | Yes (adopted April 15, 2026) | Too little history (no open-market trades in 2023) |
| 2026-09-08…2026-09-10 | Nithrakashyap Arvind | Chief Technology Officer | 38,460 | $3.5M | 11.6% | Yes (adopted October 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-03 | Wassenaar Yvonne | Director | 721 | $65K | 16.3% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-01 | Thompson John Wendell | Director | 13,500 | $1.2M | 46% | Yes (adopted October 6, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-24 | Choudary Kiran Kumar | Chief Financial Officer | 10,000 | $983K | 1% | Yes (adopted April 15, 2026) | Too little history (no open-market trades in 2023) |
| 2026-08-03…2026-08-05 | Nithrakashyap Arvind | Chief Technology Officer | 38,460 | $3.0M | 11.6% | Yes (adopted October 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03 | Thompson John Wendell | Director | 13,500 | $1.0M | 42.4% | Yes (adopted October 6, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03 | Wassenaar Yvonne | Director | 721 | $54K | 15.5% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-15 | Choudary Kiran Kumar | Chief Financial Officer | 28,000 | $2.3M | 2.8% | Yes (adopted April 15, 2026) | Too little history (no open-market trades in 2023) |
| 2026-07-13 | Mhatre Ravi | Director | 3,979 | $331K | 0.5% | No | Too little history (no open-market trades in 2023) |
| 2026-07-06…2026-07-08 | Nithrakashyap Arvind | Chief Technology Officer | 38,460 | $3.3M | 11.2% | Yes (adopted October 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Wassenaar Yvonne | Director | 721 | $59K | 13.5% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Thompson John Wendell | Director | 13,500 | $1.1M | 39.3% | Yes (adopted October 6, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-26 | Mhatre Ravi | Director | 3,979 | $284K | 0.6% | No | Too little history (no open-market trades in 2023) |
| 2026-06-23 | Wassenaar Yvonne | Director | 676 | $51K | 11.2% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-03 | Wassenaar Yvonne | Director | 721 | $58K | 10.7% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-01…2026-06-03 | Nithrakashyap Arvind | Chief Technology Officer | 225,087 | $18.9M | 41.7% | Yes (adopted October 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.89 on a 1–5 scale), 28 analysts; mean target USD 120.15 (low 110, high 139).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-23 | Baird | Target raised | Outperform | $130 → $139 |
| 2026-08-31 | CIBC | Target raised | Outperformer | $115 → $120 |
| 2026-08-28 | Scotiabank | Target raised | Sector Outperform | $114 → $120 |
| 2026-08-28 | Citigroup | Target raised | Buy | $96 → $130 |
| 2026-08-28 | Piper Sandler | Target raised | Overweight | $91 → $114 |
| 2026-08-28 | Barclays | Target raised | Overweight | $110 → $115 |
| 2026-08-28 | DA Davidson | Target raised | Buy | $90 → $115 |
| 2026-08-28 | Rosenblatt | Target raised | Buy | $105 → $115 |
| 2026-08-28 | Guggenheim | Target raised | Buy | $110 → $116 |
| 2026-08-28 | Keybanc | Target raised | Overweight | $112 → $120 |
| 2026-08-28 | BMO Capital | Target raised | Outperform | $98 → $115 |
| 2026-08-28 | Cantor Fitzgerald | Reiterated | Overweight | $120 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-04-22) |
|---|---|---|
| Total return | +57.1% | +217.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +57.4% | +58.8% |
| Volatility (annualized) | 64.9% | 62.7% |
| Max drawdown | -52.0% (Dec 2025→Apr 2026) | -55.3% (Jun 2025→Apr 2026) |

## Peers (Software - Infrastructure)
IOT (Samsara Inc.) USD 43.78 +1.25% · FFIV (F5, Inc.) USD 450.08 -1.86% · CPAY (Corpay, Inc.) USD 415.01 +1.83% · VRSN (VeriSign, Inc.) USD 304.59 -0.87% · MDB (MongoDB, Inc.) USD 362.24 -7.30% · NTNX (Nutanix, Inc.) USD 69.55 -0.80%

## More
Full page: https://nexqual.com/RBRK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RBRK's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/1943896/000194389626000013/rbrk-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Super Micro Computer (SMCI) | "Our Original Equipment Manufacturer Agreement with Supermicro expires in November 2026, with the option to terminate upon each automatic annual renewal thereafter, and does not contain minimum purchase requirements that …" |
| Partner | Microsoft (MSFT) | "We also offer SaaS products through the marketplaces of our technology alliance partners, including GCP, Azure, and AWS." |
| Partner | Amazon (AMZN) | "We also offer SaaS products through the marketplaces of our technology alliance partners, including GCP, Azure, and AWS." |
| Partner | Ingram Micro Holding Corp (INGM) | "Our three largest Channel Partners, Arrow Enterprise Computing Solutions, Exclusive Networks, and Ingram Micro Inc., and their respective affiliates collectively generated approximately 68% and 73% of our revenue for fis…" |
| Competitor | Dell Technologies (DELL) | "•Data management and protection vendors, such as Commvault, Dell EMC, IBM, Veeam, and Cohesity;" |
| Competitor | IBM (IBM) | "•Data management and protection vendors, such as Commvault, Dell EMC, IBM, Veeam, and Cohesity;" |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $407.2M | 95.3% | +37.1% |
| Other | $20.1M | 4.7% | +55.8% |
| Total revenue | $427.3M | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $298.6M | 69.9% | +32.5% |
| United States | $287.5M | 67.3% | +32.7% |
| EMEA | $105.8M | 24.8% | +44.9% |
| APAC | $22.9M | 5.4% | +98.4% |
| Total revenue | $427.3M | 100% | — |
The lines above cover 167.3% of total revenue.

## Customer concentration

Period ended 2026-07-31: 28%, 26%, 10%, 10% of revenue from unnamed direct customers (10-Q, filed 2026-09-01).

## Company outlook (8-K filed 2026-08-27)

- "Conference Call Information Rubrik will host a conference call to discuss results for the second quarter of fiscal year 2027, as well as its financial outlook for the third quarter and full fiscal year 2027 today at 2:00 p.m."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.08 | $0.06 | +46.5% | $430.2M | 26 |
| Next quarter (ends 2027-01-31) | $0.06 | $0.06 | +4.7% | $446.2M | 25 |
| Current fiscal year (ends 2027-01-31) | $0.50 | $0.31 | +60.3% | $1.69B | 27 |
| Next fiscal year (ends 2028-01-31) | $0.77 | $0.65 | +18.7% | $2.05B | 27 |