Rubrik, Inc. Files Q1 Fiscal 2025 10-Q

TL;DR

Rubrik's Q1 FY25 10-Q is in. Check financials for latest performance.

AI Summary

Rubrik, Inc. filed its 10-Q for the period ending April 30, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and operational details for this period are presented, including comparisons to the prior year's first quarter. The company is based in Palo Alto, California.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Rubrik, Inc., crucial for understanding the company's trajectory in the cybersecurity and data management sector.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and forward-looking statements that inherently carry investment risk.

Key Numbers

• Q1 FY25 — Fiscal Quarter (Reporting period for this 10-Q filing)
• 2024-04-30 — End of Period (The date through which financial information is reported)

Key Players & Entities

• Rubrik, Inc. (company) — Filer of the 10-Q
• 20240430 (date) — End of reporting period
• 20240613 (date) — Filing date
• Palo Alto, CA (location) — Company headquarters

FAQ

Key Financial Figures

• $0.000025 — which registered Class A Common Stock, $0.000025 par value RBRK New York Stock Exchange

Filing Documents

• rbrk-20240430.htm (10-Q) — 1589KB
• rubrik10q4302024exhibit311.htm (EX-31.1) — 10KB
• rubrik10q4302024exhibit312.htm (EX-31.2) — 10KB
• rubrik10q4302024exhibit321.htm (EX-32.1) — 6KB
• rubrik10q4302024exhibit322.htm (EX-32.2) — 6KB
• 0001943896-24-000009.txt ( ) — 7389KB
• rbrk-20240430.xsd (EX-101.SCH) — 49KB
• rbrk-20240430_cal.xml (EX-101.CAL) — 59KB
• rbrk-20240430_def.xml (EX-101.DEF) — 336KB
• rbrk-20240430_lab.xml (EX-101.LAB) — 599KB
• rbrk-20240430_pre.xml (EX-101.PRE) — 446KB
• rbrk-20240430_htm.xml (XML) — 822KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements ( u naudited)

Financial Statements ( u naudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Loss 7 Condensed Consolidated Statements of Redeemable Convertible P referred Stock and Stockholders' Deficit 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 82 Item 3. Defaults Upon Senior Securities 83 Item 4. Mine Safety Disclosures 83 Item 5. Other Information 83 Item 6. Exhibits 84

Signatures

Signatures 85 Rubrik, Inc. Q1 2025 Form 10-Q 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future financial condition or results of operations, business strategy and plans, and objectives of management for future operations are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "toward," "will," "would," or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following: our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses, and other results of operations, including our key metrics; the growth rate of the market in which we compete; our business plan and our ability to effectively manage our growth and associated investments; anticipated trends, growth rates, and challenges in our business and in the markets in which we operate; our ability to achieve or sustain our profitability; future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements; the costs and success of our marketing efforts and our ability to promote our brand; our ability to increase sales of our products; our ability to acquire new customers and successfully retain and expand platform usage with existing customers; our ability and expectations to continue to innovate and enhance our platform; our ability to operate our business under evolvin

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Rubrik, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and par value amounts) (unaudited) April 30, January 31, 2024 2024 Assets Current assets Cash and cash equivalents $ 502,614 $ 130,031 Short-term investments 103,706 149,220 Accounts receivable, net of allowances of $ 529 and $ 247 97,369 133,544 Deferred commissions 74,529 72,057 Prepaid expenses and other current assets 74,724 63,861 Total current assets 852,942 548,713 Property and equipment, net 45,983 47,873 Deferred commissions, noncurrent 114,166 113,814 Goodwill 100,343 100,343 Other assets, noncurrent 52,938 62,867 Total assets $ 1,166,372 $ 873,610 Liabilities, redeemable convertible preferred stock and stockholders' deficit Current liabilities Accounts payable $ 8,552 $ 6,867 Accrued expenses and other current liabilities 160,334 122,934 Deferred revenue 569,159 526,480 Total current liabilities 738,045 656,281 Deferred revenue, noncurrent 590,595 579,781 Other liabilities, noncurrent 55,226 55,050 Debt, noncurrent 297,104 287,042 Total liabilities 1,680,970 1,578,154 Commitments and contingencies (Note 8) Redeemable convertible preferred stock, $ 0.000025 par value – zero and 74,182,559 shares authorized as of April 30, 2024 and January 31, 2024, respectively; zero and 74,182,559 shares issued and outstanding as of April 30, 2024 and January 31, 2024, respectively; liquidation preference of zero and $ 715,100 as of April 30, 2024 and January 31, 2024, respectively — 714,713 Stockholders' deficit Preferred stock, $ 0.000025 par value – 20,000,000 and zero shares authorized as of April 30, 2024 and January 31, 2024, respectively; zero shares issued and outstanding as of April 30, 2024 and January 31, 2024, respectively — — Common stock, $ 0.000025 par value – zero and 203,935,682 shares authorized as of April 30, 2024 and January 31, 2024, respectively; zero and 55,862,729 shares issued and outstandi

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View this 10-Q filing on SEC EDGAR