Curious about Rubrik net worth in 2024? Rubrik has made significant strides in data security, leading to substantial revenue growth.
In this analysis, we’ll dive deep into Rubrik’s financial performance, including how their subscription ARR continues to soar, contributing to the company’s overall growth.
I’m Ando Money, and together, we’ll explore the key factors driving Rubrik’s success. Let’s get started!
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Rubrik |
| Full Name | Rubrik, Inc. |
| Website | rubrik.com |
| Industry | Data Security and Cloud Management |
| Traded as | NYSE: RBRK |
| ISIN | N/A |
| Founded | 2014 |
| Founders | Bipul Sinha, Arvind Nithrakashyap, Soham Mazumdar, Arvind Jain |
| Country/Territory | United States |
| Headquarters | Palo Alto, California |
| Chief Executive Officer | Bipul Sinha |
| Number of Employees | 3,100 (2024) |
| Market Cap | $7.18 billion (as of October 2024) |
| Total Assets | $1.218 billion (July 2024) |
| Total Equity | $(499.3) million (negative equity) |
| Revenue | $205 million (Q2 FY 2025) |
| Net Income | $(176.9) million (Q2 FY 2025) |
What is the Net Worth/Market Cap Of Rubrik in 2024?
Rubrik’s market cap as of October 2024 stands at $7.18 billion, reflecting its significant standing in the cloud data management and security industry.
Despite experiencing some financial challenges, the company’s valuation remains strong.
In comparison to other companies in its sector, Rubrik’s market cap ranks well, but there’s still growth potential. Here are some related companies that either partner with or compete against Rubrik:
- Microsoft
- Google Cloud
- Palo Alto Networks
- ServiceNow
- Snowflake
- CrowdStrike
- Mandiant
- Assured Data Protection
- IBM
- Amazon Web Services
For more on top-valued firms, check out this list of successful businesses at Ando Money’s list of top companies.
Rubrik Financial Performance Overview
How Revenue Has Grown Over the Years
Rubrik has seen substantial revenue growth over the last year. For Q2 fiscal year 2025, Rubrik generated $205 million in total revenue, marking a 35% increase compared to the same period in the previous year.
This growth was largely driven by an increase in subscription revenue, which rose by 50%, reaching $191.3 million.
The company’s subscription-based model has been crucial in driving consistent revenue increases.
With the rise in demand for cloud-based data security solutions, Rubrik’s ability to maintain such a high growth rate is impressive.
The increasing recognition of cybersecurity threats also means Rubrik’s products remain in high demand, ensuring further revenue growth.
Key Contributors to Subscription ARR Growth
One of Rubrik’s most significant financial achievements in recent years has been its 40% year-over-year growth in subscription ARR (Annual Recurring Revenue), which hit $919.1 million as of July 2024.
This steady increase highlights the company’s strength in securing long-term contracts with businesses seeking cyber resilience solutions.
The company’s focus on products like Anomaly Detection and Sensitive Data Monitoring has played a key role in this growth, helping maintain robust ARR figures.
Customer Base Expansion and Its Impact on Revenue
Rubrik’s customer base has also expanded significantly, particularly in terms of high-value clients.
By July 2024, the company reported 1,969 customers with subscription ARR of $100,000 or more, marking a 35% increase from the previous year.
This growing customer base includes enterprises from a wide range of industries, which boosts Rubrik’s financial performance.
The company’s partnerships, especially with Microsoft, further enhance its appeal, helping Rubrik secure high-value contracts.
Operational Efficiency and Its Role in Financial Performance
Rubrik’s improvements in operational efficiency have also contributed to its solid financial performance.
The company’s GAAP gross margin stood at 73.1%, and its non-GAAP gross margin was 77.0% for Q2 of fiscal 2025.
These improvements reflect Rubrik’s ability to scale operations efficiently while minimizing costs.
The company’s operational leverage is evident in its improving Subscription ARR Contribution Margin, which saw a notable rise from (22)% to (8)% in just one year.
Impact of Cybersecurity Trends on Financial Results
The cybersecurity landscape has shifted dramatically in recent years, and Rubrik has been a key player in offering solutions that address these evolving threats.
The increasing number of cyberattacks and IT outages has driven demand for Rubrik’s Zero Trust Data Security™ solutions.
This trend directly impacts Rubrik’s financial results, as organizations prioritize investments in data protection.
The company’s role in this crucial sector ensures continued demand for its services, fueling financial growth.
Strategic Partnerships and Revenue Impact
Rubrik’s partnerships with global leaders, such as Microsoft and Google Cloud’s Mandiant, have been instrumental in its revenue growth.
These collaborations have helped Rubrik extend its reach into new markets and industries.
Additionally, its partnerships with managed services providers like Assured Data Protection have allowed Rubrik to expand its footprint in Latin America, creating new revenue streams.
These alliances will likely play a key role in the company’s future financial success.
International Expansion and Revenue Opportunities
Rubrik has made efforts to expand its international presence, which has opened up new revenue opportunities.
Its growing presence in Latin America, supported by strategic partnerships, is expected to provide long-term financial benefits.
As Rubrik continues to scale its operations globally, the company is well-positioned to capture a larger share of the global data security market.
Product Innovation and Its Contribution to Financial Success
Rubrik has continuously innovated its product offerings to meet the evolving needs of businesses.
The company’s flagship product, Rubrik Security Cloud, has been critical in driving financial success, with solutions that address both cyber recovery and data security posture management.
These innovative products contribute to Rubrik’s long-term revenue growth, as customers invest in comprehensive solutions to secure their data.
Challenges in Revenue Growth and Profitability
While Rubrik has achieved impressive revenue growth, it still faces challenges when it comes to profitability.
The company reported a net loss of $(176.9) million in Q2 fiscal year 2025.
However, Rubrik’s ability to balance high revenue growth with operational improvements shows that the company is on the right path toward achieving long-term profitability.
FAQs About Rubrik
How does Rubrik generate most of its revenue?
It generates the majority of its revenue through subscription-based services, particularly from its cloud-based security solutions.
What was Rubrik’s total revenue for Q2 fiscal year 2025?
It reported $205 million in total revenue for Q2 fiscal year 2025, representing a 35% year-over-year increase.
What is Rubrik’s gross margin for Q2 fiscal year 2025?
Its GAAP gross margin for Q2 fiscal year 2025 was 73.1%, while its non-GAAP gross margin was 77.0%.
How many high-value customers does Rubrik have?
As of July 2024, the company had 1,969 customers with subscription ARR of $100,000 or more, a 35% increase from the previous year.
What were Rubrik’s total assets as of July 2024?
Its total assets stood at $1.218 billion as of July 31, 2024.
Conclusion
I hope this article provided valuable insights into Rubrik’s financial performance.
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