Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

A highly collaborative investment professional and research analyst with 10+ years of international experience in equity research, treasury operations, and trading positions across multiple asset classes at leading multinational banks Citibank and Morgan Stanley, UHNWI-backed family office and European independent equity research firm. A respectable background in equity capital markets, corporate treasury, investment banking operations, equity research analysis and portfolio management.

Rubrik 2Q’FY26 Wrap: Subscription NRR, Cash Flow Metrics Remain Robust. Growth Is Slowing Into FY27

Rubrik 4QFY25 Earnings Recap: Sizable Beat and Cash Flow Growth Acceleration in FY26

Rubrik 3QFY25 Wrap: Solid Outlook, Improving FCF and $1B+ In Subscription ARR

Rubrik: Long Path To Profitability, Massive Stock-Based Comp in Q1 FY25, PT Reduced To $46.00

Equity Bottom-Up

<ul>
<li>Rubrik reported a solid 1QFY26. There were plenty of positives, including revenue upside, competitive wins and increased FY26 revenue guidance.  </li>
<li>I maintain a bullish view on the data security company and a pioneer in cyber resilience. Management sees a huge opportunity in securing identity.</li>
<li>Rubrik added 135 customers with subscription ARR ˃$100K to total 2,381, +28% y/y, and the subscription net retention rate remains ˃120%.  </li>
</ul>


Rubrik reported a solid 1QFY26. There were plenty of positives, including revenue upside, competitive wins and increased FY26 revenue guidance.  
I maintain a bullish view on the data security company and a pioneer in cyber resilience. Management sees a huge opportunity in securing identity.
Rubrik added 135 customers with subscription ARR ˃$100K to total 2,381, +28% y/y, and the subscription net retention rate remains ˃120%.  


Rubrik 1QFY26 Update: Huge Opportunity In Identity Resilience Will Drive Growth In The Future