RBRKHIGH SIGNALFINANCIAL10-K

RBRK demonstrates substantial revenue growth and meaningful improvement in profitability metrics, though the company remains unprofitable with significantly expanded operations.

The company's revenue grew substantially to $1.3B while losses narrowed considerably, suggesting improving unit economics and operational leverage. The notable expansion in total assets and accounts receivable indicates rapid business scaling, though investors should monitor whether this growth trajectory is sustainable given the company's limited operating history with newer product offerings.

Comparing 2026-03-19 vs 2025-03-20View on EDGAR →
FINANCIAL ANALYSIS

RBRK's financial profile shows a rapidly expanding business with revenue approaching $1.3B and substantially reduced losses, indicating improving operational efficiency. The balance sheet roughly doubled in size with total assets reaching $2.8B, while accounts receivable grew meaningfully to $256.8M, consistent with the revenue expansion. Capital expenditures increased notably to $29.6M, reflecting infrastructure investments to support the company's growth trajectory, though the business remains loss-making despite clear progress toward profitability.

FINANCIAL STATEMENT CHANGES
Total Assets
Balance Sheet
+94.4%
$1.4B→$2.8B

Asset base grew 94.4% — expansion through organic growth, acquisitions, or capital deployment.

Capital Expenditure
Cash Flow
+75.5%
$16.9M→$29.6M

Capital expenditure jumped 75.5% — major investment cycle underway; assess returns on deployment.

Gross Profit
P&L
+69.8%
$620.8M→$1.1B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Net Income
P&L
+69.8%
-$1.2B→-$348.8M

Net income grew 69.8% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+69.5%
-$1.1B→-$345.4M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Total Liabilities
Balance Sheet
+66.2%
$2.0B→$3.3B

Liabilities grew 66.2% — significant increase in debt or obligations, assess impact on financial flexibility.

Revenue
P&L
+48.5%
$886.5M→$1.3B

Strong top-line growth of 48.5% — accelerating demand or successful expansion into new markets.

Accounts Receivable
Balance Sheet
+44.6%
$177.6M→$256.8M

Receivables surged 44.6% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Current Liabilities
Balance Sheet
+38.3%
$950.2M→$1.3B

Current liabilities surged 38.3% — significant near-term obligations; verify ability to meet short-term debt.

Inventory
Balance Sheet
+35.7%
$4.2M→$5.7M

Inventory surged 35.7% — growing faster than typical sales pace; potential demand softening or supply chain overcorrection.

LANGUAGE CHANGES
NEW — 2026-03-19
PRIOR — 2025-03-20
ADDED
had 157,404,648 shares of Class A common stock outstanding, and 44,871,492 shares of Class B common stock outstanding.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 61 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 63 Item 7A.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 116 Item 9A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 118 Item 13.
We have a limited operating history, particularly with respect to our offerings of Rubrik Security Cloud and Rubrik Agent Cloud, which makes it difficult to forecast our future results of operations.
The limited number of contract manufacturers and original equipment manufacturers that produce commodity servers that are compatible with our solutions are susceptible to supply chain disruptions and have recently experienced shortages of key components for their servers, which may adversely affect our ability to accurately forecast demand for these commodity servers or successfully manage the relationship with such manufacturers, and could negatively impact demand for our offerings, and adversely affect our business and financial results.
Our use of generative and other artificial intelligence tools may pose risks to business and operations, including our proprietary software and systems, and may subject us to legal liability.
Business We are on a mission to secure and accelerate the world s AI transformation.
As enterprises embrace the forthcoming AI transformation, they are grappling with a threat landscape that is now amplified at an AI-scale.
REMOVED
had 103,167,994 shares of Class A common stock outstanding, and 86,610,633 shares of Class B common stock outstanding.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 59 I tem 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 61 I tem 7A.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 111 I tem 9A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 113 I tem 13.
Certain Relationships and Related Transactions, and Director Independence 113 I tem 14.
We have a limited operating history, particularly with respect to our offering of Rubrik Security Cloud, which makes it difficult to forecast our future results of operations.
Our use of generative artificial intelligence tools may pose risks to our proprietary software and systems and subject us to legal liability.
We expect our revenue mix and certain business factors to impact the amount of revenue recognized period to period, which could make period-to-period revenue comparisons not meaningful and make revenue difficult to predict.
We believe that the future of cybersecurity is data security-if your data is secure, your business is resilient.
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