Rubrik, Inc.
Rubrik, Inc. provides a data security platform used to secure, monitor, and recover enterprise data across on-premises, cloud, and SaaS environments. The company sells software subscriptions, related support, and certain appliance-based offerings, with operations and engineering centered in the United States and additional development presence in Israel and India.
Fiscal year 2026 · change from previous year
Development 2023–2026
Business
Share of revenueRSC editions, SaaS offerings, and term-based licenses for data security.
Support and software update fees tied to perpetual licenses and appliances.
Commodity-server-based appliances loaded with Rubrik software for enterprise deployment.
Implementation and related services delivered alongside the platform.
Products
Reported · share of revenue- Subscription and Circulation96.0 %
- Other4.0 %
Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Rubrik sells primarily to enterprises that need to secure large and growing pools of data across applications, clouds, and SaaS environments. It also serves public sector organizations and works through channel partners, systems integrators, managed service providers, and cloud marketplaces to reach customers. Buyers typically start with one workload or application and expand usage as they add more data sources and security products.
Buy RSC subscriptions and appliances to secure multiple data domains and expand over time.
Federal, state, and local agencies use the platform for data protection and recovery.
Purchase through indirect fulfillment to deliver, implement, and expand customer deployments.
Acquire SaaS products via AWS, Azure, and GCP marketplaces for simpler procurement.
Strategy
Rubrik’s strategy centers on landing customers with one or more protected workloads and then expanding across additional applications, data types, and security products. The company also emphasizes partner-led distribution, cloud marketplaces, and acquisitions to broaden product capability and accelerate adoption of its data security platform.
Expansion across more workloads and products increases customer stickiness and platform value.
Partners and marketplaces extend reach and reduce reliance on direct selling alone.
New capabilities help address evolving cyber threats and widen the platform's use cases.
Geography
Q2/2026Rubrik is headquartered in the United States and its engineering and research leadership is split across Palo Alto, Tel Aviv, and Bangalore. The business sells globally through direct sales and partners, but the filings provided do not disclose a country revenue split. Geography matters because the company depends on distributed development talent and a global partner network to support enterprise deployments.
Share of the revenue the company reports by geography.
Risks
Rubrik faces execution risk if its platform fails to perform as intended, because its value proposition depends on protecting customer data reliably. It also has meaningful supply-chain exposure through Supermicro for Rubrik-branded Appliances, while broader software risks include competition, customer expansion dependence, and revenue timing tied to multi-year contracts and SaaS adoption.
- Platform failure, defects, or vulnerabilitiesImpact: HighLikelihood: Medium
The business sells data security; any failure undermines customer trust and adoption.
Exposure: Core product reliability and brand reputation
- Single-source or concentrated appliance manufacturing dependenceImpact: HighLikelihood: Medium
Rubrik-branded Appliances rely on Supermicro for assembly and server supply.
Exposure - Customer expansion and retention riskImpact: MediumLikelihood: Medium
The land-and-expand model depends on customers adding workloads and products over time.
Exposure: Subscription ARR growth and renewal durability
- Competitive pressure in data security softwareImpact: MediumLikelihood: Medium
Large software vendors and niche security players compete for the same budgets.
Exposure - Seasonality and contract timingImpact: MediumLikelihood: Low
Billings are concentrated in the fourth quarter and many contracts are multi-year.
Exposure: Quarterly comparability and near-term revenue visibility
Accounting
Judgemental itemsDifferent timing for subscriptions, appliances, maintenance, and services affects reported revenue mix.
Impact: Can move revenue between periods and alter growth rates
Customer options can defer or accelerate recognition depending on exercise behavior.
Impact: Affects deferred revenue and near-term revenue timing
Fourth-quarter billings are substantially higher than other quarters.
Impact: Creates uneven cash collection and quarterly comparability
Recent acquisitions add purchase accounting, intangible assets, and fair value estimates.
Impact: Can affect amortization, goodwill, and future impairment risk
Similar listed companies
Publicly listed companies with a comparable business focus.
SentinelOne, Inc.
S · Services-Prepackaged Software
SentinelOne is a U.S.-based cybersecurity software company built around its Singularity platform for endpoint, cloud, identity, and data protection.
Rekor Systems, Inc.
REKR · Communications Equipment, NEC
Safe Pro Group Inc.
SPAI · Orthopedic, Prosthetic & Surgical Appliances & Supplies
Check Point Software Technologies Ltd
CHKP · Services-Prepackaged Software
Netskope Inc
NTSK · Services-Prepackaged Software
JFrog Ltd
FROG · Services-Prepackaged Software
JFrog Ltd builds a software supply chain platform that helps enterprises store, secure, govern, and continuously deliver software artifacts from code to production.
Last updated: 24/09/2026