Country Brick (RBRK) is playing because another software hasn’t seen the business slowdown at the hands of market volatility in March.
“I think we’re continuing strong demand,” Rubrik co-founder and CEO Bipul Sinha told me on Yahoo Finance on Friday. Sinha’s comments repeat Docusign CEO Allan Thygesen’s comments to Yahoo Finance early this morning.
Sinha added: “We are confident in providing year-round goals.”
The cybersecurity company’s shares surpassed the high-end expected range at the pricing of its IPO in April 2024. The shares were opened for trading at $38.60.
The winged IPO was transported at $752 million for Rubrik’s expansion plans, initially valued the company at $5.6 billion.
The stock currently trades at $69, and the company has a market capitalization of $13 billion after today’s 25% revenue pop.
Rubrik’s fourth quarter showed that cybersecurity play will get bigger spending from the tech sector, which is trying to protect data in the age of AI. The company increased sales at a heartfelt pace compared to the previous year, significantly reducing losses.
“Overall, this was another large quarter of Rubrik Growth Story, which we believe is still in the early innings in the cyberresilience market, which is estimated to have reached $53 billion by 2027.”
Ives repeated outperforming stock assessments.
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Fourth quarter net sales: +Estimated from 47% to $258.1 million and $233 million from the previous year
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Recurring subscription annual revenue: Estimates from +39% to $1.09 billion and $106 billion
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Diluted earnings per share: Loss per share was estimated to be $0.39 against a loss of $1.52 a year ago, compared to a loss of $0.18.
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First Quarter:
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Year-round:
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sale: Estimates between $1.16 billion and $1.16 billion vs $3.15 billion vs $1.1 billion
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Diluted earnings per share: Losses between $1.13 and $1.23 against a $1.25 loss estimate
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Rubrik has 2,246 customers and has recurring revenues from subscriptions of over $100,000 per year, up 29% year-on-year.
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Free cash flow ended positively that year.
Brian Sotzi I’m the executive editor of Yahoo Finance. Follow sozzi with x @Briansozzi, Instagramand LinkedIn. A hint for the story? Please email brian.sozzi@yahoofinance.com.
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