MillerKnoll Earnings Release and Conference Call Details

Rubrik, Inc. reported its first quarter fiscal year 2027 financial results on June 4, 2026, exceeding all guided metrics. According to the company’s financial release, subscription Annual Recurring Revenue grew 32% year-over-year to reach $1.57 billion as of April 30, 2026. Total revenue for the quarter ending April 30, 2026, climbed 39% year-over-year to $387.1 million, driven by expansion in subscription services and security operations.

First Quarter Financial Highlights and Revenue Growth

Subscription revenue reached $374.2 million during the quarter, marking a 41% increase compared to $265.7 million reported in the first quarter of fiscal year 2026, according to company disclosures. Total revenue of $387.1 million included $8.5 million in revenue from material rights, down from $13.4 million in the same period of the prior year. When excluding material rights, Rubrik’s revenue increased by 43% year-over-year. Profitability metrics also showed marked improvement during the quarter. GAAP gross margin rose to 80.5%, compared to 78.3% in the first quarter of fiscal year 2026, while non-GAAP gross margin expanded to 82.9% from 80.5%. The subscription ARR contribution margin climbed to 13.2%, up from 8.0% a year earlier. GAAP net loss per share narrowed to $(0.21), compared to $(0.53) in the first quarter of fiscal year 2026. On a non-GAAP diluted basis, net income per share reached $0.16, shifting upward from a non-GAAP net loss per share of $(0.15) during the corresponding period last year.

Cash Flow and Balance Sheet Strength

Rubrik reported strong operational cash generation for the period ending April 30, 2026. Cash flow from operations was $81.7 million, compared to $39.7 million in the first quarter of fiscal 2026. Free cash flow similarly advanced to $73.6 million, up from $33.3 million in the prior year’s first quarter. As of April 30, 2026, Rubrik held $1.75 billion in cash, cash equivalents, and short-term investments. Customer adoption also expanded, with Rubrik recording 2,946 customers holding Subscription ARR of $100,000 or more, representing a 24% increase year-over-year. Bipul Sinha

Product Expansion and Executive Commentary

Leadership attributed the quarterly outperformance to disciplined execution and rising demand for integrated security and artificial intelligence tools. Kiran Choudary stated in the earnings release that the results demonstrate the firm’s ability to drive durable growth and meaningful operating leverage at scale.

“We are pleased with our strong start to fiscal year 2027, exceeding all guided metrics with subscription ARR of $1.57 billion growing 32% year-over-year and free cash flow margin of 19%. This demonstrates our ability to drive durable growth and meaningful operating leverage at scale.”

Kiran Choudary Alongside its financial disclosures, Rubrik highlighted several recent product developments. The company announced access to Anthropic’s Mythos Research Preview through Project Glasswing, testing frontier artificial intelligence to address cyber breaches. Additionally, Rubrik launched data protection capabilities for Google Workspace to provide immutable, air-gapped backups for Gmail and Google Drive, and introduced the Rubrik Agent Cloud for Google Cloud’s Gemini Enterprise Agent Platform to facilitate automated discovery and intent-based guardrails for AI agents.