Rubrik (RBRK) Still remains a buy, last trade alert on 11/25, bought at $68.62, but given the strong rise to $90, I would try and average further purchases down.

Rubrik (RBRK) has an excellent future because its focusing on a niche and growing area of backup and restoration of data breaches. The rise of agentic AI will inevitably lead to breaches, and they've tied up with OKTA (OKTA) and Crowdstrike (CRWD) (both strong cybersecurity companies in their own right) to resolve these issues.

I had posted these excellent results on the group on 12/4 - Here are details:.

Q3 Non-GAAP EPS of $0.10 beats by $0.27 !. Analysts were expecting a loss so this is an important first.

Revenue of $350.17Mn  grew 48.3% YoY and beat estimates by $29.66M, 8.5% higher!

Clearly, the cybersecurity market has strengths that we didn't fully appreciate.

Rubrik guided for the fourth quarter of fiscal year 2026 and the full fiscal year 2026: And given the immense beats last quarter, these could be conservative.

Q4-FY 2026 Outlook: Rubrik has a January year-end.

Revenue of $341Mn to $343Mn V prior consensus of $325.06Mn - $17Mn or 5 higher%

Non-GAAP subscription ARR contribution margin of approximately 9%.

Non-GAAP net loss per share of $(0.12) to $(0.10) vs consensus of ($0.13).

Weighted-average shares outstanding of approximately 201Mn - dilution of 1.5%, the current quarter closed with 198Mn shares. In Q3, SBC was $82Mn, $6Mn lower than the previous quarter. As Rubrik grows and starts to get profitable, analysts will expect this number to come down as Rubrik moves towards GAAP profitability in FY2027-FY2028.

Full Year 2026 Outlook:

Subscription ARR between $1,439Mn and $1,443Mn.

Revenue of $1,280Mn to $1,282Mn vs consensus of $1,23o Mn - that's a higher guidance of 4% for the year.

Non-GAAP subscription ARR contribution margin of approximately 9%.

Non-GAAP net loss per share of $(0.20) to $(0.16) vs consensus of ($0.49.) That, again is a substantial improvement.

Weighted-average shares outstanding of approximately 197 million.

Free cash flow of $194Mn to $202Mn.  That gives it an impressive, and more importantly growing FCF margin of 16%.

Rubrik spiked 8% post earnings.

I had posted on Rubrik in June highlighting the following:

• Agentic AI proliferation biggest catalyst for the stock
• 8x machine identities for every human in an organization suggesting drastic adoption of Agentic AI - the need to secure and ensure data resiliency will remain a growth catalyst.
• Likely  TAM with a CAGR of 44% from 2024-2030, playing heavily into Rubrik’s data resiliency and identity recovery solutions. Complexity should add more growth
• Capex from hyperscalers will also be spent on cybersecurity.
• ARR growth remains strong at 39%
• Rubrik's platform approach with several products for different use cases will be a major differentiator, somewhat emulating the success of Crowdstrike,

Rubrik focuses on resilience - which is how businesses can get back on their feet after their data has been breached. This makes Rubrik a category leader in an area of cybersecurity with fewer competitors.