Palo Alto-based cybersecurity firm Rubrik (RBRK) will report its Q2 2024 earnings today (09/09), the second time the company has reported since going public earlier this year.
In recent weeks, the average Wall Street analysts' consensus estimates for Rubrik's Q2 revenues were revised higher to approximately $195 million — in line with the official guidance — following the CrowdStrike outages earlier this summer. The stock is currently rated a ‘strong buy' across the board, which, in practice, means market expectations are already high. Rubrik's Q2 revenues will almost certainly beat analysts' expectations (that's usually how it works); the question is by how much. And will it be enough to lift the stock?
The short interest on Rubrik shares is around 7% of the free float — the equivalent of 6 days of average trading volume to cover. The employee lockup period expires in two days, on September 11. Therefore, some volatility in the stock price is likely in the coming days.
Rubrik is also expected to provide guidance on 2025 revenues, which may be more important than the Q2 earnings — i.e., the story told by management will matter as much as the reported numbers.
What is Rubrik?
Rubrik, Inc. is a cloud data management and cybersecurity company specializing in data protection, backup, recovery, and cloud management solutions for enterprises. Founded in 2014, Rubrik has positioned itself as a leader in providing a unified platform that simplifies data management across hybrid and multi-cloud environments. The company's flagship product, the Rubrik Cloud Data Management (CDM) platform, integrates backup, disaster recovery, archival, and compliance into a single, easy-to-manage, and scalable software fabric. Rubrik leverages artificial intelligence and machine learning to deliver automated protection and insights, helping organizations secure their data against cyber threats like ransomware and comply with various regulatory requirements. Headquartered in Palo Alto, California, Rubrik serves a wide range of industries, including healthcare, finance, government, and technology, and continues to expand its offerings in data security and cloud management.
