Rubrik Reports 41% Revenue Growth to $886.5 Million for Fiscal Year Ending January 31, 2025

Rubrik, Inc. reported significant financial performance for the fiscal year ending January 31, 2025, with total revenue reaching $886.5 million, a 41% increase from $627.9 million in the previous fiscal year. Subscription revenue, which constitutes the majority of total revenue, grew by 54% to $828.7 million, driven by a substantial increase in Subscription Annual Recurring Revenue (ARR), which rose to $1.1 billion, marking a 39% increase year-over-year. However, the company continued to experience net losses, reporting a net loss of $1.15 billion compared to a loss of $354.2 million in the prior year, primarily due to increased operating expenses associated with stock-based compensation and investments in research and development.

The company has made strategic advancements, including the acquisition of Laminar Technologies, a data security posture management platform, for $104.9 million in August 2023. This acquisition is expected to enhance Rubrik's offerings in the data security space. Additionally, Rubrik launched its Rubrik Security Cloud (RSC) platform, which integrates data security across enterprise, cloud, and SaaS applications, and has been transitioning customers from its legacy Cloud Data Management (CDM) capabilities to this new platform. The transition is anticipated to be largely completed by the end of fiscal 2026.

Operationally, Rubrik reported a customer base of 2,246 clients with Subscription ARR exceeding $100,000, a 29% increase from the previous year. The company also noted a strong average subscription dollar-based net retention rate of over 120%, indicating effective customer retention and expansion strategies. International revenue grew significantly, with sales from the EMEA and APAC regions contributing to a total of $250.4 million, up from $186.4 million in the previous fiscal year. The company’s employee headcount increased to approximately 3,200 as of January 31, 2025, reflecting its growth strategy.

Looking ahead, Rubrik anticipates continued growth in its subscription revenue as it expands its customer base and enhances its product offerings. The company plans to invest further in research and development to innovate its platform and maintain its competitive edge in the rapidly evolving data security market. However, the company also cautioned that its future growth may be impacted by macroeconomic conditions, including inflation and changes in technology spending, which could affect customer budgets and purchasing decisions.