By Connor Hart
Rubrik increased its full-year outlook as it posted higher-than-expected revenue and earnings in its fiscal third quarter, sending its stock surging in after-hours trading.
Shares jumped 14% to $61.15 in post-market trading. At the end of the regular session, the stock was trading 2% higher, at $53.66. It opened at $38.60 in its initial public offering on April 25.
The computer security firm on Thursday reported a loss of $130.9 million, or 71 cents a share, for its three months ended Oct. 31, compared with a loss of $86.3 million, or $1.41 a share, a year earlier. The Palo Alto, Calif., company currently has about 183.6 million outstanding shares, compared with about 61 million outstanding shares last year.
On an adjusted basis, Rubrik posted a loss of 21 cents a share, compared with the 40 cents a share loss that analysts polled by FactSet projected.
Revenue rose 43% to $236.2 million, beating the $217.5 million that analysts were looking for, according to FactSet.
Subscription revenue jumped 55% to $221.5 million. Annual recurring revenue from subscriptions came in at just over $1 billion, up 38% from a year earlier.
"Our strong growth at scale shows that we're winning the cyber resilience market and we're excited to continue to execute on this new vision to define the future of the cybersecurity industry," Chief Executive Bipul Sinha said.
For its fiscal fourth quarter, Rubrik guided for revenue between $231.5 million and $233.5 million and an adjusted loss between 41 cents and 37 cents a share. Analysts polled by FactSet are looking for revenue of $224.5 million and an adjusted per-share loss of 41 cents.
For the year, the company now expects revenue between $860 million and $862 million, up from a prior outlook between $830 million and $838 million. It guided for an adjusted per-share loss between $1.86 and $1.82, compared with a previous outlook of a loss between $2.12 and $2.06. Analysts forecast revenue of $834.1 million and an adjusted loss of $2.09 a share.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 05, 2024 17:00 ET (22:00 GMT)
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