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PaymentsToAcquirePropertyPlantAndEquipment","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"cash":{"value":429397000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"CashAndCashEquivalentsAtCarryingValue","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"capex":{"value":4277000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"PaymentsToAcquirePropertyPlantAndEquipment","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"revenue":{"value":387068000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"RevenueFromContractWithCustomerExcludingAssessedTax","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"net_income":{"value":-41853000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"NetIncomeLoss","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"period_end":"2026-04-30","eps_diluted":{"value":-0.21,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"EarningsPerShareDiluted","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"fiscal_label":"2027Q1","gross_profit":{"value":311783000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"GrossProfit","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"debt_long_term":null,"shares_diluted":{"value":203668000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"WeightedAverageNumberOfDilutedSharesOutstanding","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"operating_income":{"value":-52634000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-06-05","concept":"OperatingIncomeLoss","accession":"0001943896-26-000047","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}}},{"cfo":{"value":76846000.0,"provenance":{"form":"10-Q","class":"derived","filed":"2026-09-01","concept":"NetCashProvidedByUsedInOperatingActivities","accession":"0001943896-26-000060","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0001943896.json","retrieved_at":"2026-09-19T19:41:03+00:00","reviewed_through":null}},"fcf":{"value":71247000.0,"provenance":{"form":"10-Q","class":"derived","filed":"2026-09-01","concept":"NetCashProvidedByUsedInOperatingActivities - 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Not a forecast; no side."},"schema":"company_file.v1","thesis":{"view":"Subscription ARR reached $1,660.903M and revenue rose 38%, supporting a higher annual outlook. The model still distinguishes ARR from earned revenue and from cash. The reported 14% ARR contribution margin combines an ending ARR stock with trailing-year adjusted costs; it is not a quarterly profit margin. H1 company FCF was $139.285M, but cash after financing-classified award withholding was $86.007M before acquisitions.","scenario_ranges":"Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.","what_changes_it":"Track ARR additions, conversion timing, material-right revenue, deferred-revenue funding and the cash cost of capitalized software. Require clear monetization evidence before assigning incremental revenue to newly announced AI products."},"no_side":true,"sources":[{"url":"https://www.sec.gov/Archives/edgar/data/1943896/000194389626000055/rubrikinc-991pressrelease7.htm","title":"August 27 fiscal Q2 results, ARR and full-year outlook","retrieved":"2026-09-19"},{"url":"https://www.sec.gov/Archives/edgar/data/1943896/000194389626000060/rbrk-20260731.htm","title":"September 1 Form 10-Q: revenue recognition, cash, software and notes","retrieved":"2026-09-19"}],"business":{"drivers":["Subscription ARR growth and conversion into recognized sales","Hosting costs, sales efficiency and material-right runoff","Advance collections, capitalized software and share withholding"],"description":"Rubrik sells subscriptions for cyber recovery, data protection and related security products. It serves customers through channel partners and increasingly hosted services, with newer identity and AI-agent security offerings. ARR measures annualized active contracts; recognized revenue follows contract and delivery terms. Advance billing, capitalized sales commissions, software development and equity compensation all affect the cash produced by growth."},"earnings":{"source":"estimated from 10-Q filed 2026-09-01 plus 90 days","next_report_date":"2026-11-30"},"identity":{"cik":1943896,"sic":"7372","name":"Rubrik, Inc.","symbol":"RBRK","cluster":"Software & internet","exchange":"NYSE"},"research":{"risks":["ARR assumes renewal on existing terms and is not guaranteed future revenue.","Channel concentration differs from end-customer concentration.","Material-right exercise or forfeiture changes revenue timing.","Hosted services and new products can increase delivery costs.","Upfront collections and deferred commissions make cash seasonal.","Equity compensation, award withholding and convertible notes affect ownership and capital needs."],"title":"Recurring growth with ARR, accounting and cash kept distinct","question":"How much of subscription growth becomes cash after acquisition costs, software investment and equity settlement?","economics":"H1 revenue was $814.328M, GAAP operating loss $124.536M and CFO $158.535M. CFO included $174.386M noncash SBC and $84.475M deferred-revenue funding, while new deferred commissions consumed $69.100M against $59.473M amortization. PP&E of $9.876M and capitalized software of $9.374M produce company FCF of $139.285M; another $53.278M of share withholding reduces cash retained to $86.007M. Q2 material-right revenue was $4.7M versus $14.2M a year earlier, affecting reported growth without matching new demand. July cash and investments totaled $1,747.649M, alongside $1,150M convertible principal due June 2030. The model independently varies ending ARR, revenue conversion, GAAP spending and billing cash; it never treats ARR contribution margin as EBITDA.","change_note":"First sourced ARR conversion model with separate raw/company cash definitions, commissions and equity settlement; no fabricated AI revenue.","checkpoints":[{"event":"Q3 delivery","watch":"Compare $429M-$431M revenue guidance with ARR additions and material-right runoff.","timing":"Quarter ends October 31, 2026; release date unconfirmed","date_status":"estimated"},{"event":"Year-end outlook","watch":"Test $1,880M-$1,885M ARR and $323M-$333M company FCF with consistent definitions.","timing":"FY2027 ends January 31, 2027","date_status":"estimated"},{"event":"Cash and investment","watch":"Deduct both software capitalization and financing-classified withholding before assessing cash retained.","timing":"Each filing","date_status":"estimated"}],"countercase":"Advance billing can support cash while GAAP losses persist, and the benefit may reverse as contract terms or growth change. Competition and hosting costs can absorb expansion, while capitalized software and stock awards create costs that adjusted operating metrics do not fully show.","limitations":["ARR is an annualized stock of active subscriptions assuming renewals on existing terms, not quarterly revenue or guaranteed cash. The average-ARR recognition factor is an analytical proxy for mix and timing, not disclosed cohort economics.","ARR contribution margin uses period-end ARR less trailing-twelve-month non-GAAP subscription costs and operating expenses. It is not a quarterly revenue margin, EBITDA or free-cash-flow margin.","Material-right revenue depends on customer option exercise or forfeiture. Forecast rights and other revenue are desk amounts; no undisclosed product-level or rights allocation is asserted.","CFO and billing changes are simplified. Acquisition spending and the announced UK investment are not modeled as an immediate one-time capital expenditure; future spending phasing remains uncertain.","Historical generic FCF is CFO less PP&E. The separate company-FCF measure additionally deducts capitalized internal-use software. Cash after share withholding additionally subtracts financing-classified taxes on settled awards.","No forward EPS, convertible-note/capped-call dilution model, valuation or full balance sheet. Positive cash flow does not erase stock compensation or the $1.15B note principal due in 2030."],"reviewed_at":"2026-09-19"},"estimates":{"rows":[{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2027Q3","revenue":430000000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2027Q4","revenue":444672000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2028Q1","revenue":476986287.49999994},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2028Q2","revenue":506511024.99999994}],"basis":"Desk base scenario from the operating model; not consensus. Revenue basis: Revenue ($M).","consensus":null,"revisions":[]},"scorecard":{"inside_5d":null,"notes_scored":0,"band_coverage_5d":null},"disclosure":"All positions in the Research Model Portfolio are simulated. No real money is invested in this model. Our research is free and is not tailored to any reader's financial circumstances.","operating_model":{"cells":[{"id":"h1_revenue","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to millions.","label":"H1 revenue","value":814.328,"period":"H1 FY2027","formula":null,"source_url":"https://www.sec.gov/Archives/edgar/data/1943896/000194389626000060/rbrk-20260731.htm","source_date":"2026-09-01"},{"id":"h1_gross_profit","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to millions.","label":"H1 gross profit","value":646.906,"period":"H1 FY2027","formula":null,"source_url":"https://www.sec.gov/Archives/edgar/data/1943896/000194389626000060/rbrk-20260731.htm","source_date":"2026-09-01"},{"id":"h1_operating_income","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to 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