Cybersecurity firm Rubrik CEO: 'We see continued strong demand'

Count Rubrik (RBRK) arsenic different bundle play not seeing a slowdown successful concern astatine the hands of March's marketplace volatility.

"We spot continued beardown demand," Rubrik co-founder and CEO Bipul Sinha told maine connected Yahoo Finance connected Friday. Sinha's comments echo those of DocuSign CEO Allan Thygesen to Yahoo Finance earlier this morning.

Sinha added, "We are assured successful delivering connected our full-year goals."

Shares of the cybersecurity steadfast priced its April 2024 IPO astatine $32, supra the precocious extremity of their expected range. The banal opened for trading astatine $38.60.

The upsized IPO hauled successful $752 cardinal for Rubrik's enlargement plans, initially valuing the institution astatine $5.6 billion.

The banal present trades astatine $69, and the institution sports a marketplace headdress of $13 cardinal aft a 25% post-earnings popular today.

Rubrik's 4th fourth showed a cybersecurity play getting a larger chunk of walk from tech departments seeking to support information successful the property of AI. The institution grew income astatine a hearty gait and chopped its losses importantly versus the anterior year.

"Overall, this was different monolithic 4th for the Rubrik maturation story, which we judge is inactive successful the aboriginal innings with the marketplace for cyber resilience estimated to deed $53 cardinal by 2027," Wedbush tech expert Dan Ives said.

Ives reiterated an Outperform standing connected the stock.

• Fourth 4th nett sales: +47% twelvemonth implicit twelvemonth to $258.1 cardinal vs. estimates for $233 million

• Subscription yearly recurring revenue: +39% to $1.09 cardinal vs. estimates for $106 billion

• Diluted net per share: Loss per stock of $0.18 vs. a nonaccomplishment of $1.52 a twelvemonth agone vs. estimates for a nonaccomplishment of $0.39

• First quarter:

  • Sales: $259 cardinal to $261 cardinal vs. estimates for $243.3 million

  • Diluted net per share: Loss of $0.31 to $0.33 vs. estimates for a $0.50 loss

• Full year:

  • Sales: $1.145 cardinal to $1.16 cardinal vs. estimates for $3.15 cardinal vs. estimates for $1.11 billion

  • Diluted net per share: Loss of $1.13 to $1.23 vs. estimates for a $1.25 loss

• Rubrik had 2,246 customers with subscription yearly recurring gross of $100,000 oregon more, up 29% twelvemonth implicit year.

• Free currency travel finished affirmative for the year.