Rubrik (RBRK) 5 Dec 242025 Q3 Earnings call transcript

Good afternoon, everyone. Welcome to the Rubrik Third Quarter Fiscal Year 2025 Results Conference Call. [Operator Instructions] Also, today's call is being recorded.

[Operator Instructions] Now at this time, I'll turn things over to Melissa Franchi, Vice President, Head of Investor Relations at Rubrik. ma'am. ahead, go Please

to Call. Quarter Welcome Financial Year Results Conference Rubrik's everyone. Fiscal Third XXXX Hello,

call me Choudary, the Co-Founder On with of Chairman Sinha, Rubrik; and CEO, and Kiran Chief Officer. today Financial are Bipul

financial earnings able financial and results. be reconciliation or that, at non-GAAP along to slide closed financial www.ir.rubrik.com. find of Our the on release, this Relations be with accordance not a the may our as in release GAAP. a with for from today downloaded These with was after highlights press GAAP page, market Investor Also considered earnings from page issued you'll deck includes substitute information isolation should prepared measures to in be a

statements, for XXXX, financial strategy, to regarding with initiatives, motions. forward-looking and During trends, generative including regarding statements the our expectations including go-to-market growth regarding quarter year fiscal this market outlook call, our full expectations our respect AI, and market our will opportunities, fourth and initiatives we position, product those make

I'll results, could the SEC. forward-looking financial obligation that, are filings based to believe to results today's our on actual and call discussed statements on detail These update what over Bipul. we with differ statements which hand we Rubrik factors in early With our call. any and are materially. today, other in that statements and performance to the may are predictions risks forward-looking subject we assumes These affect no may that make

for us thank everyone, you, Thank and joining you, Melissa, today.

positive this achieved Rubrik scale, outstanding very at growth not free started. We flow. another only get let's delivered cash Now but also generated strong quarter.

And growing this milestone for $X subscription ARR, have we XX Rubrik just us. was incredibly billion over big are XX% proud to a since years surpassed did founded, We in in year-over-year.

more the metrics. outlook This all again, line fiscal rest for the of quarter, are And and profitability have our we we 'XX. importantly, top once guided exceeded raising

numbers highlight quarter that for key the are yet Rubrik. positive X There another

a First, that million we are the a ARR, winning added indication clear and subscription market. new is we $XX resilience this record, in net cyber

subscription our growing Second, was revenue $XXX year-over-year. XX% million, over

ARR And growing strong profitability, $XXX,XXX subscription on subscription with customers again we in year-over-year. in X,XXX, XX% up ARR year-over-year. material once Third, above contribution XXX%. remained finally, reached or ARR basis improvement X,XXX our subscription Fourth, margin, points more made

these the cash over the we to because $XX winning happy flow we in only is market. possible cash front, very free again, are had On results generation Rubrik million this quarter. report are resilience cyber Once

are broad a #X we resilience is There This organizations topic cyber is be market powering And the therefore, unique attacks. solution and such resilience. to cyber breaches momentum. and attacks architecture Rubrik recovery cybersecurity. has are why and at for Cyber winning. look is our inevitable. is have let's against in growth a Now what realization resilient that and

data resilience. way applications. with recovery enterprise, believe fast combines or plus Let DSPM. parts. the Data that or Rubrik me only Security customers. we are Management, vendor for unique across differentiated cloud deliver and unpack fastest We And platform single AI-powered the to recovery SaaS complete our market Trust two, Number one, only Rubrik automated delivers RSC, workloads cyber security across This Security is all the this and a management cyber in to X recovery Number offers the Cloud, is Zero for number due architecture. our Posture in three, cyber DSPM control cyber

we resilience cyber meet Rubrik can partner In as their their or RTO. confidently because summary, recovery are cyber objective, enterprises trusted time turning to

long results in value run. our and the even over in enabling focus customers how greater drove Let's to cyber talk about investments quarter our deliver us how resilience our are the strong on innovation to third these

data, quarantine. functionalities that We provide can metadata machine the combines with so and architecture data At integrations. AI times. clean ability architecture to our impacted from architecture Zero recovery business the directly all infection, us cyber applications. scope to learning points the This business and uniquely time the with to do third-party and of not deliver the the outset, Rubrik sensitivity data customers the security malware the natively, This allows or apply us to fastest built of enables hunting visibility and these the recovery tools that differentiated Trust bolt-on unique attack, deliver to customers of the a into pre-calculate

simple minimal and cyber to transforms efficient majority disruption This This from the competitive with to win recovery why with a and business in significant continue vast is of loss impact. a recovery situations. operations fair deals long drawn-out we

few a you give me Let examples.

new-gen quarter, other the board mandate seeking and Rubrik hours their a RTO to protection providers recovery was less In service SaaS Microsoft protect cyber beat data proof construction that vendor their selected backup its of of including to than engineering a a was X improve provider Rubrik ecosystem, for This This and entire global only for concept required multiple driven applications. XXX. providers, with data by backup mission-critical times. consolidate

were in was a company resilience provider XX meet resilience the could only the both on-premises Fortune cloud. win health cyber with the only RTO, that partner. After as thorough care well their a as evaluation, that immutable as logo selected Another Rubrik organization's we cyber

allowed adoption addition, cybersecurity and customer superior RSC functionality. delivering rip replace new-gen and disparate Enterprise Edition of vendors, backup this In while to legacy X

death the can met to combat in remarked, recovery to a matter "Downtime met commitment U.S. our strong technology and care Rubrik selected in win and and that the provides we standards, symplr's our cybersecurity life of vendors due care new-gen Rubrik be and this and security our to capabilities. adversaries." cyber legacy systems objectives demonstrated vendor lastly, CEO across with to business, other continued to that health quarter backup access And symplr, a a was critical over resilience networks care for had was hospitals patient company health industry. a modern only the innovations X,XXX

workloads. expand share Rubrik platform. recently are of our drive hybrid This growing expands PostgreSQL enterprises OpenShift to transforming We that Cloud within Virtualization cloud Security reach Red our portfolio continue added solutions. hybrid wallet cloud to and their the Hat innovation of We to

Turning simplified now for and drive seeing protection we to management adopting times, cloud to across multiple fast are policy and our in protecting Rubrik and public savings. workloads, cloud applications. SaaS are recovery our success the ability our Enterprises immediate cost cloud SaaS

public protection of infrastructure stack. more more an cloud adopt businesses SaaS Rubrik component move applications, to enterprise As cloud more becomes even essential workloads and security

wins well me Let highlight few expansion as with protection. a new logos as cloud of examples

compared estate giant legacy the backup for AWS, single platform. This and and AWS XX% resulted cybersecurity This total multiple solution data deployments cost for to times of a ownership This backup while prior new-gen Rubrik's into quarter, customer their pharmaceutical in after its a evaluating selected superior to providing features. Rubrik disparate faster providers. cloud-native consolidated protect all savings backup customer and cloud legacy recovery

Another in cloud-native XX% is logo This new their drove landscape Native selected its QX. company an backup to Cloud for Indian hard savings multiple vendor Azure that company environment Rubrik providers. with deployments. simplified Protection their and legacy prior compared This cost replacing multinational Rubrik,

against large and and security ease a top security the Japanese This to selected provider. for and use deal, IT their Rubrik Rubrik customer expansion automaker after of for legacy its notable features evaluating teams. a critical put backup Rubrik our MXXX environment In selected superior

Posture of provides DSPM. Management into to to attack moving risk and Data or Now on surface DSPM minimize sensitive exfiltration. exposure area Security visibility of data the data

us This recovery We allows an attack. plus in DSPM to the during deliver resilience an before, only cyber are the integrated in and vendor market platform. cyber offer complete to after

is displaced to quarter. value care purchased quarter-on-quarter QX. their organization large superior managing a demonstrated Enterprise which to existing of Cloud customers of well solutions vendor which last as for recovery sensitive Security Rubrik risk offered added resilience Rubrik with a deliver customer cyber Our volume as fast was of ability example in DSPM win, attack. just a we enterprise resonating as DSPM DSPM around DSPM in as and health an by case capabilities their Edition growing existing complete the proposition cyber footprint, workload nearly with data deals, a doubled This Rubrik One

applications Copilot MXXX makes content In addition, leverage ability provide adoption. the tool and relevant its is such to DSPM an to to across AI adoption powerful company urgency of the a accurate What insight. gen brings such as Copilot

ensure However, companies place data need remains such to to when have sensitive secure as using in AI tools the right security data controls Copilot.

and This enterprises sensitive This only quarter, we Copilot. new also adoption data risk but for helps Copilot. of MXXX exfiltration, set announced of DSPM the them secure not Rubrik exposure reduce capabilities of the accelerate helps

is customers platform. allows to This permissions. access Copilot within Rubrik engine and classification of to from while of all at ensure exposure, DSPM a designed classify right ensuring and data while leverage MXXX powerful segmented, and known risk autonomously designed discover and sensitive is continuously data labeled very safeguarding sensitive power rapid is rate. classified, comprehensive unknown for data our correctly the cyber resilience the to all Copilot Rubrik's

an absolutely innovation to is Next, company. enduring critical building

about working talk let's big the some that So ideas we on. of are

and on long-term in And pioneering our Rubrik have create our of As commercialize read frontier you ability our might prospectus, products. continuously perpetually design of IPO the some by to lives upon success innovation. depends

business in will to Number will this of for parts with access manage all groundbreaking applications. AI trusted number applications. customers to Number to allow with data build more metadata and Annapurna RSC. along are Annapurna just exciting X have two, AI RSC at trusted three, powered we applications. will development API an AI easily quickly And week this Rubrik In Rubrik accelerate deliver Annapurna gen one, to data re:Invent, access this set and partnership service vein, leverages secure which, and the data all Rubrik enterprise AWS Annapurna innovation. new data AWS, by ready-to-go powerful controls gen embedding There announced to

we secure priority enterprises. manner, top adoption a We enable to for in uniquely are positioned which a gen and AI is believe compliant

brave and we excited real Rubrik because are secures important new extracts, do business data. the We estate with AI, about the most of manages Annapurna in gen what world can

note early in AI road However, for a as to like infrastructure that We strategy map innings this advances very providing on look more color of applications. for forward several the the years. multiyear gen I Rubrik secure be data the are we to next platform would in to it

updates the across discuss and partnerships our of motion. a key go-to-market component our landscape, few let's notable a to security Now data

creating for product through more foremost, focus, first so equals X value Our for on our our partnerships plus than integrations X customers joint that more and X strategic customers.

QX. from examples few A

Identity became for first Okta's platform visibility access data sensitive This data to response Okta integration access with vendor monitors data data The identity-based provides RSC, tailored the sensitive integrate threat to to helps assess on to automatically from attacks changes security effectively. quarter, and access permission with from combined policy Threat levels. and Protection. data. and manage RSC threats to risk to context more Rubrik user context configuration respond This based other faster and tools, and orchestrate risk companies security allows user around into

partnership Pure approach to protection RSC cyber We needs. This long-term the complete FlashArray also to a short-term to a strength deliver Storage Pure a Storage, secure new joining partnership forces announced deliver of FlashBlade resilience combines and and storage with solution. data across with

Rubrik from FlashArray As hours plus customers hunt And to can minutes. and an threats to windows Pure's backup FlashBlade reduce sensitive their Pure production for example, data and in environment. find allows discover anomalies, Rubrik

me business discuss Lastly, efficiency profitability. let and

leverage focused our quarter, model. and last discussed As we profitability business delivering on are in

this demonstrate year-on-year. up contribution by QX ARR subscription basis over points results Our X,XXX margin commitment with

our efficiency improvements in on scale, forward on investment focus to for disciplined look growth. continued We and our based the go-to-market, increasing our

relentless We have innovation Rubrikans and more this horizon you and Rubrik. the in improving milestone billion level are next and, profitability. for importantly, with much creating $X growth this helping very of focus proud Thank all ARR for to your achieve to subscription on for incredibly surpassed

partners for We are to customers, support. our grateful and also their continued very investors

the But clear, it still of is early me let days very very be story. Rubrik

Kiran new a for for at over on pleased pass Choudary. am today creating based I'm our our for Financial than ahead With Chief it are excited cybersecurity more Rubrik. I the cyber personally industry founding resilience. vision We XXXX to Officer, to that, was what's I even in

top and for outstanding thank us resilience, customer you strong at and the all line base, the growing continued and in existing results due Thank metrics. within cyber improvement growth Good and leadership exceeded our highlighted was afternoon, you, for profitability. QX quarter, significant across scale our Bipul. posted expansions we guidance strong today. We to in by everyone, joining market our third

quarter and a fiscal are then and Let me start otherwise on by I'll and third briefly our guidance noted, results recapping key metrics, year-over-year basis. XXXX. financial full the fiscal All provide for fourth XXXX year unless comparisons, operating quarter

business, our $XX billion We of new best added growing million we have the illustrates QX, net in ARR Subscription $X to and surpassed are momentum subscription ARR. incredibly XX%. proud in

Cloud, in of $XXX Rubrik ARR, to XX%. drive cloud up million which Security adoption of We our continue resulted

X our percentage from Our to subscription approximately ARR base transitioning points growth benefited declining subscription. maintenance

differentiated their initial through We secured, secured we of where have expansion multiple through footprint have new after applications more of contract. our functionalities. can Rubrik, growth addition of avenues the to the customers data applications a expand our and customers expand by the and/or relationship and model of land-and-expand acquire by security already with We

As a we to vectors highlighting are continue our third net base. retention deeply which rate, the quarter. result, net meaningful strong in All a more to rate, of to runway our over penetrate subscription see have XXX% we healthy customer retention the expansion remained contributors

subscription with from an our customers approximately more, in from approximately XX%. stable of strategic contribute partner last enterprise in year the the up third the at increasingly our our as XX% remains customers Adoption $XXX,XXX now XX% ARR, ago to net period. rate, period, subscription quarter ARR X/X a or quarter up larger we year X,XXX become customers. These but ago of of of security retention We from ended with quarter, subscription up additional functionality

to For up nonrecurring QX upfront The quarter to $XXX in growth ARR our guidance revenue outperformance million, XX%. Security higher-than-expected higher-than-expected some verticals as of customers and revenue our of renewals XXXX, fiscal strong is as their Rubrik extension relative due and subscription of million, This licenses through as adoption regulated and new $XXX Total was revenue our third QX was revenue. transition our reflects up Cloud. to XX%. the progress and of RSC-Private government from in they well sales

Americas Revenue Revenue to $XXX Turning XX% to outside million. to grew Americas the from million. of revenue. geographic $XX mix grew XX% from

to will forward. turning expenses I like going discussing would gross non-GAAP and be to that margins, I profitability, Before results note

scale committed growth to strong profitability. balancing We are improving at with

are growing subscription contribution ARR our on We margins, and focused improving delivering flow. strong cash margin, gross free

business. achieving are of well as benefits management this and scale leveraging We the improving across of the efficiencies as costs

in XX% gross Our the margin to non-GAAP the was XX% year-ago quarter third period. in compared

cloud support continue efficiency our in margins to of improved from benefit our hosting continued offset investments gross by organization, Our infrastructure. customer

nonrecurring this outperformance, We quarter, anticipate XX%. the at XXX gross revenue. margin benefit benefits including the credits margin from onetime cloud the of our lower in our of which nature, These gross approximately margins gross end also stay bolstered points. are basis revenue hosting The total by from we long-term benefited higher-than-expected to target nonrecurring to and XX%

a we As as leverage a look operating key of supporting reminder, to contribution at path measure ARR our subscription margin profitability.

We ARR negative in X% to basis margin margin profitability XX the leverage October X,XXX ability over demonstrates to and Subscription the contribution compared improvement in period, ARR our our months scale. points. at operating believe year ended contribution the last XX% improvement negative of subscription in was XX ago drive an

driving In of particular, leverage ARR The percentage sales focus on subscription ARR basis and improvement approximately marketing a scale year-on-year. growing by down points the driven across our margin continued in and as was expense subscription moved our X,XXX contribution organization.

see greater improvements renewal cost expect efficiencies, and marketing base. further We and as we organizational a on in ramping improving sales of acquisition to deliver

higher shorter cash mix million fiscal This compared and $X.X by of and contract improved improvements, payments leverage relative was offset period. Free in working quarter a monthly $XX.X flow to million year the operating was driven consumption scale, to slightly increase capital of by third ago annual and XXXX. terms

variables, We strong these for and offerings. strong growth subscription and strength Revenue Turning the consistent alongside ARR demand drivers or a execution to at will Rubrik number our Cloud resilience our differentiated pace of add our of we about ahead. new deliver growth existing We the confident migrate pace including the outlook. RSC. can remain believe to cyber the and market revenue fluctuate our customers, which RSC, which continue to and to Security due at we customers

of enormous growth us In into we opportunity terms this efficient at ahead scale. plan expenses, of to continue invest to while delivering operating

fourth QX, we XX%. XXXX. revenue Now full up to the and million, turning of to guidance $XXX.X year fiscal $XXX.X quarter for In XX% to million expect

$X.XX of negative EPS non-GAAP weighted to average $X.XX outstanding. on expect XXX approximately We shares negative based million

fiscal full a and range pleased in line billion, raise XX%. to billion ARR year our our $X.XXX the expect the we both year-over-year of growth profitability subscription XXXX, reflecting are top to metrics. We For across $X.XXX of now rate approximately of guidance

We expect total XXXX fiscal to of revenue implying XX% approximately $XXX $XXX for year the the million, growth. full in range million

reflecting X% negative ARR margin negative subscription non-GAAP expect X%, improvement We QX. between from and contribution margins further

We expect the shares based average year. XXX weighted negative approximately for non-GAAP EPS negative $X.XX $X.XX outstanding million of full on to

to cash free million, with $XX $XX negative $XX the onetime of in IPO. flow negative million expect associated excluding $XX to $XX payroll or negative million negative million our We million tax

finally, while for wanted still call to And are points high-level in modeling for our out next I a few year, planning XXXX. we early fiscal

benefit the for subscription moderating, saw we been conversion the in of approximately QX. from and of reminder, a X benefit As maintenance subscription points has growth to ARR

growth expecting from in subscription converting benefit not fiscal are We XXXX. to maintenance to any ARR

historically, addition, of first higher In second we subscription ARR year half net versus in the new the the half. see

As we expect normalized fiscal fiscal quarterly we have exceptional seasonality see to discussed seasonality. offset previously, In which in we start typical more XXXX, ARR. subscription XXXX, to an had

to far strong year, profitability, have on generation. in In stay cash and so flow focused efficiency made progress business we also this terms of free fiscal continue we

stand Based fiscal cash and deliver contribution quarter, QX now, or our on right earnings XXXX fiscal our providing to on the after for year modestly fiscal third ARR outlook We flow completing to where positive we expect margin call. look forward free breakeven XXXX. subscription the we better year XXXX

outlook in our year. performance third the our with full higher quarter In closing, we the are for pleased and

large and opportunity ability to for deliver on innovation we our vision. and we Barclays we'd at positioned believe With our leadership, for and road to the cyber to upcoming on growth to that, of the execute We efficient any including given continue look forward conference. you growing well resilience to the durable Looking forward, in are like up months, seeing the call many the questions. coming open and

Instructions] [Operator

Saket this Kalia to We'll afternoon at go first Barclays.

Okay. Great. $X billion on Congrats reaching mark. the ARR

Saket. Thank you,

what Absolutely. main cloud Bipul, applications of the wins look thought to I your prepared with cloud that sort remarks, like you cloud some you. backup workloads seemed start where the great some provides win. like And of native the just of think us had sometimes for examples presumably In wonder maybe for reason since backup. I and cloud backup some customer

So hear does just you workloads about maybe the use lot that there, a was protection their cloud sense? question is, backup you desire There to what data can like versus but on maybe talk customers from Rubrik for third-party their about solution from relying make tools a provider? cloud

has you and fundamental you knobs does. you are turn the if in X clouds, X that the very centers, and that have places you reason because cyber you application recovery huge Rubrik cloud. when bad -- XX your different opportunity the It cyber had breach, question resides. data have a in can't for applications in needed, long a a different time. SaaS methods is have data your you do X be data And to But to down is wherever is resilience and will

all Salesforce and why as in we have cloud the for centers we looking And that's MXXX. deliver are cloud as solution such well control native single as a policy security customers cyber the recovery So as are across winning providers well all SaaS data very for single estates. and actually comprehensive applications because their as data of a to engine

they visibility, of engine recovery across Cloud on us consolidated, controls a data, they the solution can threat inevitable that their the actually data have with able control to their came a and complete in insurance quarter Rubrik to wanted As security company QX, provides an being again, example, cloud Fortune this that cyber Native and Protection attack management cyber replace their platform so policy all because Rubrik to backup native XXX native do happens. confidently when for

that, to makes wrong. the in a of margin? sort of margin contribution do year. maybe And maybe follow-up me income it a That do lag following your can about it. be that that The Got my how for here next was that investments Kiran, year? continues of great correct of improve, breakeven of ton you reported you. to there of about question and sort hear sense. I'm if for terms is, pace you And think going operating contribution sort next think long into you of But how

question. the Sure, Saket, and thanks for

we are made progression the date. we margin in So pleased to with have very

This QX delivered basis and minus quarter year-over-year. margin, X,XXX-plus last subscription XXX X% the almost quarter, than better was points basis points which we

to top But and outperformance been across the really, of R&D gave we and look are further for or work on that we've next our but ARR year. in the twofold. sales of scale based we on where that the breakeven third areas is is finishing up and contribution the drivers efficiency, this QX remarks to the big mention the in line based goal And we on fiscal us. guidance terms better margin the did margin progression investment I subscription prepared for are improve my also marketing today year. in And One doing be quarter, both after

here. thinking build goal that's we The business are a how profitable growth is So to it. about

to comes follow a expect think would that quarters. everybody, it to within after just we when the I we But through margin, operating margin. went follow few that that to Now cloud remind Normally, will transformation. subscription a

our revenue a some top under end the because perspective suppressed ARR the accounting the nearing longer. will but margin leading time. And a that But little that, is of be line of subscription indicator are op for it, lag over margin for We time.

now Boolani Citi. We go next at Fatima to

then about prepared the I to wanted much to sequentially. into some please. for ask shortening volume potentially to how doubling follow-up cycles. contributing in to your drill Kiran, with on is have deals point and/or remarks wanted I DSPM interesting of regards the Kiran, this a And you made pipeline an deal that I

Thanks, Fatima.

a more of add a color, then bit might me Kiran little business details. some Let you give and

like And The combination enterprise generative of traction quarter-over-quarter is we doubled remarks, applications, to to threat strong In of mentioned need visibility. I then data are AI. DSPM. understand number and is And resilience. continuing DSPM customers see the DSPM, since that of as is provides And with pulling data complete and in the issue recovery data the risk a of prepared of sensitivity terms in the the folks AI to from cyber DSPM responsible be cyber able deliver nooks plus crannies content now to QX.

is also of our And Rubrik attempt the in terms that DSPM for Microsoft Copilot.

In organization fact, replaced able about fast to ability in Information added DSPM superior be Chief footprint understand their deliver DSPM capability recovery. Digital to risk, a was data QX and care because and data existing they existing health be to cyber cyber Officer And resilience Rubrik to able their be quickly. to their actually concerned threat able the and their to offer to vendor recover

been our And it's this business, relatively think our just influencing question, part which not of stable to cycles add, on year. is overall still so smaller sales a have I DSPM sales your cycles,

that And the looking are think outlook next But peak preliminary did give of potentially could year. consumption of some to sort if product will, how just more of quick 'XX, this are a consumption-related much the the as refresher for outlook, the portfolio tethered headwinds fiscal headwind color about? you that can year modality, an the maybe you that into out. wondering you much a have what starting on if the sum impact to appreciate for pricing? of of profile to you parts very I'm shared on talk And free about us cash flow

Fatima. Sure,

So cycles some SaaS to invoicing term shorter and shorter out I'll consumption It our not related of cloud more the point it's for that products. and is specifically.

of more some line the progress core with of buy into SaaS they prefer cloud Microsoft products how or customers those purchase selling from the to products, like some portion, it, in us we security As our data XXX.

to as headwinds the seen And cycles a past referred have what modest this through several on well we cycles. I flow or we're But after quarters to year, we cash is some that a as positive, free regards as We'll bit to as well. further cash we invoice would guidance yet. in point, over on well. do compression that year our as next about an contract think shortening as of So not And giving flow modest QX comment call. outlook expect as the modeling

to now to We'll at Goldman next Rangan Kash go Sachs.

question My one Rubrik Bipul, I Congratulations to to you, the -- Kiran is for well. have as and team.

You've always a your improvement legacy business? you new Congratulations Kiran. for is And forward? that to this that in the on participate for also this participation to evidence able a could you TAM efficiency the that pipeline helping that cycle that cybersecurity, sustainable the how which not TAM the if but How budget is Rubrik going maintained bigger make in operating improvement. truly any budgets? and the you see would right? legacy company. technology, point wondering cybersecurity, view available the quarter replacement in in spending one is you it in that we broader the Are than mean I just to business, vast of the those and pool of in is evidence more a growth sustainable I'm the pool saw of

Thanks, Kash.

that the be and you backup cyber you fundamentally illegal that you or if to resilience. how do and disaster recovery you into inevitable. are this cyber And how running? So do applications call backup resilience, assume really because to deliver do from recovery cyber you then TAM be expanded faster has to activity attacks to recovery time, cyber if platform. the And Rubrik about did legal able We disaster to assess are recovery, what and if happened, actual this are market for it up finally, natural your you recovery the think to breach threat? we able the attacks industry, about for deliver And run assess keep market cyber the and recovery risk? human happens? has then So what a think transformed recovery Then have inevitable, during how you attack doing before a error

is into not a you built that's can was or unique Cloud, single created resilience is And solution recovery market solution. a something it which did single DSPM looking pivot pieces, looking combines that architecture. architecture plus in Rubrik Rubrik unique cyber what all for that And recovery X. is we not the is our inherent a the This on platform. platform, solution, market And day Rubrik Security that to platform these for legacy cyber where from backup into. bolt-on is And the X

Edition, our data look in recovery So our And about Rubrik we the of first X/X comes Enterprise NRR, attach which our on at product security purchase. platform. if their if Cloud the cyber look doing are half new our at solutions, customers that adopt you our from NRR about transactions, is cyber Security of full you

this folks have digital essentially, legacy platform, an confidently when transformation even recovery this data then and platform confronted resilience keep running, a So from approach make cyber security their a sure and up to services can cloud we that backup and transformed to market transformation do with attack.

And just answer you the question on efficiency. Kash, to had operating second

we ARR the past both in over cash as terms margin contribution had well subscription the we've progress the pleased So quarters, with are margins. several really of as

as higher the these focus R&D, the acquisition and the them ability we and more investment big of at sales from go-to-market lowering targeted the drivers the to expect sales areas, and well partner of look drive drivers marketing continue, multiple our you as marketing of cost terms leverage. with teams, including to many If and enabling in for products, on productivity

center, talent we've well. we particular continue And with to hired to a our past minority On continue our grow of that in well. expect over And expect with to still and that, India that contribution. on renewals leverage we the hire are as and business, we we great globally where talent natural a years, that focus R&D, get I'll say as

So many of continuing. see. drivers, of course, see we'll terms improvements the moderate these we in it of time But they over will

next at Wells go We'll to now Nowinski Andrew Fargo.

question. And in another I out. great the wanted Congrats improvement I just think, to contribution stood margin, a really on quarter. particularly, ask

on seeing for in too. gen this, many to inflection coming seeing is organizations. rollouts. an as inflection the think, the of cyber that I this mean, So one of could recovery really strong if really demand top takeaway. for protection, clear DSPM Fargo And is what's ARR, mean cyber wondering something you're to us like resilience, in and, maybe I it I'm was Wells else? Just in week, this wondering from Based key it That related looks Or cloud and mind out growth I this inflection. TMT stood like were AI you your the data conference driving you're if course, pinpoint it DSPM back

Thank you, Andrew.

of lot data, with certainly integrity of In right understand AI, enterprise now people gen for a focus because AI AI terms data, of they understand on to data, do can what forcing to of driver the sensitivity activities has who data, gen and access gen to potential is the to the understand risk to data. what is of a the understand the to data

and was So platform, recovery, -- data platform we at security Rubrik the at look outset, was data cyber deliver into We which where to backup you is legacy if our transform play, the to goal resilience. a platform. a -- and security

understanding data so together our cyber of an DSPM delivers availability. and and recovery risk customers integrity And data plus delivers our

market. And initiatives focus so the AI that the this tailwind truly, for and a into bring definitely is data, gen back

Having said the and is that transformation, digital SaaS cloud is that, contributing. accelerating -- application obviously, adoption application everything year throughout transformation, also

set tailwind driving drivers market of broad capabilities this for secular So set broad a of the and market. it's

that, you changed if And there. and a the gets on maybe Foundation uplift since wondering what over maybe months just to of the IPO, how update your the give the seeing think as you're Edition maybe last over follow-up your us a X I could rate I'm Enterprise that's Enterprise XX% Edition. Edition about adoption an

also continues are Edition our platform for actually be to -- continuing recovery NRR we flagship recovery, offerings adoption of adopt of product, and Edition we of half lot see And a adoption a security the plus About are is coming cyber the our DSPM from before, cyber X/X Enterprise Enterprise and includes the of as strong bring threat have. Enterprise to which And Enterprise the I adopt continue that we DSPM Edition. Edition outset. data attaching perspective of into it. nearly at So customers to to new security mentioned

Deutsche now Zelnick next to Brad go Bank. at We'll

to in the Bipul, proud talk vision of. expect other cloud Can strong should across and wanted to I this we And the week's evolution of The availability platforms? be so about about leading on up Annapurna, nourishment. the explicitly? Congrats or What expect of announcement? something by start you terms is monetize you this price team entire implicitly and to goddess much execution. to has you asking

company goal important build we change and horizon lives out. Rubrik front company, very from This And of frontier an actually but outset, much, real really on successful to to to to a you a our the create profitable company. is we decided company. and long-lasting products do what at long-term, And long-term the companies a our of Look, to And commercially cannot in X prospective is had us. And pioneering Brad. ambitious make X is just and that build Thank long-term years is on innovation. for customers. Rubrik question focus is horizons, want they that them, transformation so

the were XXXX like set recovery. of 'XX, success built then back marketplace and in we past, in today. on finding cyber is And we that Just the working capabilities the in

it. data pull create application a because X industry, is, years common we if we data to security built you think what game enterprise centralized metadata do And So from change platform built Rubrik we the multitude where data we can into market. are it, is multiyear today of important and with do for strategy about into game very data of that about the out Annapurna can format think change always a with security the X Rubrik what a the of data

gen ETL built to is same RAG deliver lake into know, into a kind you be LLM have multiple data apps into they has data security, to to applications. workflow to data model. the powerful it infrastructure as built has with applications. security but recover that AI from use it. It's into forcing back data use into we build And data to we like that this to use are of can And production want LLM We data that whatever responsible businesses the applications extract trusted, a because the fed AI or ready-made reverse lake gen apps, or AI next-gen

powered model, control AWS is by that and embedding Cloud started to but Security is have data secure Rubrik that our in or and access folks an all it's whether gen LLM applications. is whatever own inherent third-party the platform. platform. GCP, Bedrock, your or using of is frameworks, set with are is designed Obviously, build And their AI LangChain to LlamaIndex to applicable it our bring API-first goal we Azure, It of a equally applications,

market experimentation. -- do We we'll will actually

pricing, X product Just as the on We'll fit, we like on and the hard are you products. keep with path area X, And years past this experimentation for next to data in make mean, messaging, value I but it. pricing very creating several sustain, what price again for monetization, will working thing the of a more customer we updated figure we this progress did security market we'll Rubrik, the them. years. really packaging, a the out is in new Annapurna, is exciting ago, we what are long-term

exciting, quick follow-up Maybe Kiran. for a Super Bipul.

in this. share, market terms and share us rates of that more clearly you can like You're the even win where anything seems might a share there in quarter it coming Is taking be so and with from?

question, Let Kiran. me take this

as vendor. and other vast the that before, only combines we of this because, backup a is new-gen legacy in deals DSPM We a majority continue in a the well And vendor marketplace platform. single Zero I are against win unique Trust as has platform and recovery to that cyber recovery mentioned as

data the comes security architecture data it of and to availability understanding applications. recovery. data full risk, So matters we threat when of cyber have and And data and

where up, our And is a architecture different data, is like this can't was sees -- we in on metadata product, customer XX a you reaction, build product be This platform. products or single build cybersecurity And the by day because pivoting this reaction we that that product the X there ground can't of -- bolt a bolting data positive decision when happens. threat into said this and engine made cybersecurity. we

in right we and years of So architecture. bet, are but XX ago, a unique we risky were risky took the a that reaping bet we rewards

We'll go John now to Guggenheim at next Securities. DiFucci

along by and the really that not time on question. ones, but why the is going to XXXX we Bipul, know, why that the question your always investors. by from as whatever. But in -- my to Veritas Bipul, get helpful. this is ] this way, partnerships. answer really [ or XXXX, to last? Kash's don't good all why clear asks That I He was here to really was this came appreciate, helpful -- was that Q&A, And is you're Ruby Like going be

-- is been technology you're by about thing The spoke and one go-to-market. about. you have You everything but the hasn't to partnerships, there's here that way, talking hit need on really

VARs you have that really but more work just go-to-market team, hearing can more So more know you our that partnerships? talk a field We're strong you a about go-to-market We VARs. little reseller on enterprise way bit indicates they're to all focus more This is already is traction. that And early that the security, that and see partnerships, you. sold. and partner security and they want traditional starting those to with sign

right? -- hearing there? talk what we're you your little And can about that go-to-market forward? we about contribution So efforts think is should And partnerships, going what a bit how

you, Really Thank John. your appreciate comments.

a with strategy, is a long-term routes If have you platform. way and our think the then us are go-to-market about products multiproduct it for We a platform to success. the that critical the company technology to this around we global sell sold and market product. is world, a And -- actually on Rubrik's all is

about think go-to-market market multiple we in routes So ways. to

work are some and their trusted take our take XXX% customers. as VARs. of us we you with we to services it VARs and is, Because mentioned, the VARs indirect to Number product their one attach to business,

one motion. that's So

regional SIs or they The again trusted do second SIs, motion Whether global they customer. is for it's -- GSI their partners. Rubrik operationalize

Cisco. we alliance at Pure these it technology to Zscaler threat see with, over solution customers bigger where third a with We visibility product Storage to the that data X look to with into end plus than example, so more co-engineered is Zscaler a X network. from customers have our we X, value passing CrowdStrike Zscaler you the the is If actually full partners to work way, them take to all our of market. from And Rubrik of for the where provide partners, technology partnership

value again, is, comprehensively this where go-to-market are around the resilience actually we strategy deliver. products that adviser have. And alone one can't this solution our multifaceted that whatever trusted cyber creating product partner is customers across And deliver to world

think and partnerships VARs I than know, and or GSIs, more attention, VARs has is greater last Or don't you it's Bipul. more said been? those are in come -- the in the it been is more? I sense, but And I there partnerships, pay look we're they're announcements. more over are But are what that just noticing like But and and just just quarter maybe and about GSIs? you is trying at more they big something with and -- the mentioned, am didn't hear Or Like -- signing there first to we interesting happening? X are -- field. makes technology engagement Are with more? And we that them happening all I I out it -- it's and -- happening X the

up do my keep this thinking I and complete resilience how It has I And services and is take been for and protect that even running last many school cyber what definitely and in I'm are solution recovery. kids breached? customers? keep it cyber How when is about when breached? VARs quarters. from has up does how when hear how school Because but to a hospitals happened backup they're and is saying couple when solutions, do resilience They our Even last customers are for cyber happening demanding then the of is GSIs not do question, the patients breached? happening bring the the go They asking it resiliency. more, years, my even are I

One things discussion broadens is strategic a X having it that with thing their actually infrastructure then from and the enterprise They And having infrastructure a second cybersecurity. the mitigation. per And to around risk not VARs the and doing risk are dialogue they infrastructure dollar it terabyte. are scope just around into the GSIs. customer plus is and is in

and it, to signing right? you large are resiliency. and because success cyber mini folks noticed And are their that's depends drive more with Rubrik. So GSIs, mini Large why taking you ability their end more are customer VARs Rubrik noticing VARs to with market their GSIs up upon really and

saw Got tonight know what it. Well, keep we it up you this, rare. is guys because

turn is you. we this ladies for comments. time, gentlemen, things that and to Thank back And any questions all I time At the closing today. Mr. for would have like over do Sinha to

to all all the and just And so large decade secure continued the to because entered as to would closing, finished you long-term for keep In and Rubrik like your still continue our can digital market forward next customers they do These in years. business, build support. build to we partners, and want do company's not moving, decade. I much. a very sure we Thank is working We you, the Rubrik understand early all our confidently. market-defining where learn we our Rubrikans our products investors all and of customers, how profitable thank our you, have as with closely to transformation first well that from life in to days of to make are is decades, look

Results XXXX your for of so Again, you the a Call. you, Goodbye. conclude we Mr. remainder Fiscal us, Thank joining wish day. much Third thanks Sinha. great Rubrik ladies and that and all everyone, will gentlemen, Quarter Again,