Release Date: March 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
Negative Points
Q & A Highlights
Q : How do you feel about the Total Addressable Market (TAM) for data protection, especially with the shift to cloud and GenAI? A : Bipul Sinha, CEO, explained that Rubrik has transformed the traditional data protection market by integrating DSPM and cyber recovery, expanding their TAM to over $50 billion. The shift to cloud and GenAI increases the need for cyber resilience, further expanding their market opportunity.
Q : What are your leading-edge customers telling you about their evolving requirements for the next 2-3 years? A : Bipul Sinha highlighted that customers are focusing on cyber resilience, assuming breaches will happen. Rubrik is doubling down on data security, identity security, and cyber recovery. They are also exploring opportunities with their Annapurna platform to leverage customer data for AI applications.
Q : Can you provide more details on the substantial improvement in subscription ARR contribution margin? A : Kiran Choudary, CFO, noted that the improvement was driven by sales and marketing efficiencies, increased sales productivity, and leveraging a global talent pool. Larger transactions and strategic partnerships with customers also contributed to the margin improvement.
Q : Why is there a divergence between revenue growth and ARR growth in your guidance? A : Kiran Choudary explained that the divergence is due to the ongoing cloud transformation, which initially lagged ARR growth but is now benefiting revenue growth. Nonrecurring upfront revenue from material rights also adds tailwinds to revenue growth.
Q : How is Rubrik's strategic partnership with Microsoft evolving, and what impact does it have on your position in the market? A : Bipul Sinha emphasized the strong partnership with Microsoft, focusing on complementary offerings in cloud and data security. Rubrik's solutions for Azure and M365 have led to significant wins, and the partnership continues to strengthen with co-engineered products and recognition as a key partner.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
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