Rubrik shares fall after Q1 beat and outlook raise

Shares of cybersecurity firm Rubrik declined in after-hours trading Wednesday despite the company reporting stronger-than-expected first-quarter results and raising its full-year outlook. The stock closed regular trading at $77.00, down $3.10, and fell further to $75.61 in extended trading.

For the fiscal first quarter ended April 30, 2026, Rubrik reported revenue of $387.1 million, a 39% increase from $278.5 million in the same period last year. The result exceeded analyst expectations. Subscription revenue grew 41% to $374.2 million, while subscription annual recurring revenue reached $1.57 billion, marking 32% year-over-year growth. The company also reported improved profitability, with free cash flow rising to $73.6 million from $33.3 million a year earlier.

CEO Bipul Sinha stated the company is off to an excellent start to the fiscal year, positioning Rubrik as a strategic platform for agentic cyber resilience. The company has been expanding its focus to become a security and AI operations provider, responding to rising enterprise cyber threats.

During the quarter, Rubrik advanced several AI-integrated initiatives. These included gaining access to Anthropic's Mythos research...