Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Rubrik, Inc. (NYSE:RBRK) reported a year-over-year increase in first-quarter sales results and issued second-quarter revenue guidance above estimates.
Rubrik reported a quarterly loss of $1.58 per share, versus a year-ago loss of $1.48 per share. The company reported $187.31 million in sales this quarter, up from $135.74 million in the year-ago period, according to data from Benzinga Pro.
Kiran Choudary, Rubrik’s Chief Financial Officer, added, “We are pleased by the strong start to the year in Q1 with strength in large transactions driving net new Subscription ARR of $72 million, up 32% year over year and Subscription ARR Contribution Margin up over 2,100 basis points year over year. We are confident in our ability to deliver strong growth in Subscription ARR and continued operating leverage towards our long-term financial model.”
Rubrik said it sees second-quarter loss of 50 cents to 48 cents per share, versus market estimates of 50 cents per share. The company expects revenue of $195 million to $197 million versus estimates of $194.89 million.
Rubrik shares fell 1.4% to close at $35.26 on Tuesday.
These analysts made changes to their price targets on Rubrik after the company reported quarterly results.
- Barclays increased the price target on Rubrik from $41 to $42. Barclays analyst Saket Kalia maintained an Overweight rating.
- Keybanc raised Rubrik price target from $46 to $48. UB Keybanc analyst Eric Heath maintained an Overweight rating.
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