Rubrik Inc. (RBRK) reported its fiscal second-quarter results after Thursday's closing bell, and the numbers looked pretty good on paper. The company beat analyst expectations on both the top and bottom lines. But Wall Street didn't seem impressed, sending the stock down in extended trading. Let's dig into the details.
Rubrik's Stock Drops Despite Beating Expectations: Here's What Happened
MarketDash
Rubrik's Q2 results were strong, but investors sent the stock lower. We break down the numbers and what's next.
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Rubrik's Q2 Numbers
Rubrik posted quarterly earnings of 22 cents per share, easily surpassing the analyst consensus estimate of four cents. Revenue came in at $427.26 million, beating the expected $396.278 million. Subscription revenue was a bright spot, hitting $407.2 million, a 37% jump from $297 million in the same quarter last year.
The company's subscription annual recurring revenue (ARR) grew 33% year-over-year to $1.66 billion as of July 31, 2026, with net new subscription ARR up 35% year-over-year. Cloud ARR also performed well, growing 39% to $1.48 billion, and adjusted net new cloud ARR rose 20% in the quarter.
CEO Bipul Sinha highlighted the changing cybersecurity landscape, saying, "Mythos and frontier AI models have fundamentally changed the cybersecurity landscape. This new reality demands not only machine-speed cyber recovery but also autonomous runtime AI agent security." He added, "Rubrik's Agentic Cyber Resilience delivers on both to enable trusted AI transformation. We are more confident than ever that we are in the early innings of the AI acceleration opportunity."
What's Next for Rubrik?
Looking ahead, Rubrik raised its fiscal 2027 adjusted EPS guidance to 47 cents to 53 cents, compared to the 31 cent analyst estimate. The company also lifted its revenue outlook to $1.685 billion to $1.693 billion, versus the $1.65 billion estimate.
Despite the strong results and raised guidance, Rubrik stock was down 9.73% to $97 in Thursday's extended trading, according to market data. Sometimes good news just isn't enough.
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