Rubrik Q3 NRR Exceeds 120%; Q4 Revenues $341M–$343M with 9% ARR Margin
Rubrik’s cyber resilience and AI operations solutions lifted third-quarter subscription net retention above 120% and its Security Cloud and Identity Resilience platforms are gaining traction through AWS and Microsoft partnerships. Management expects fourth-quarter subscription ARR margin of 9% on revenues of $341M–$343M, while consensus EPS estimates were revised upward.
1. Third-Quarter Performance Highlights
Rubrik’s unified data security platform saw subscription net retention exceed 120% at the end of fiscal Q3 2026, driven by strong uptake of its Security Cloud and Identity Resilience offerings within enterprise, cloud and SaaS environments.
2. Fourth-Quarter Guidance
Management expects fiscal Q4 revenues of $341 million to $343 million (approximately 33% year-over-year growth), forecasts a non-GAAP subscription ARR contribution margin near 9% and anticipates a non-GAAP loss per share between $0.10 and $0.12.
3. Strategic Partnerships Fuel Growth
Collaborations with Amazon Web Services and Microsoft enhance Rubrik’s Security Cloud and Identity Resilience platforms, while the Rubrik Agent Cloud for AI governance strengthens its position in cybersecurity and enterprise AI adoption.
4. Analyst Estimate Revisions and Stock Movement
Consensus EPS estimates for the quarter have been revised upward and shares of Rubrik have gained 11.9% over the past month, reflecting growing investor confidence in its financial outlook and solution portfolio.