Rubrik Inc Q2 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Saket Kalia - Barclays Capital Inc. - Analyst : Okay. Great. Hey, guys. Thanks for taking my questions here and nice results. Bipul, maybe for you. Can you just talk a little bit about what customers are saying about cyber resilience in the wake of the CrowdStrike outage? I mean, you mentioned some interesting things in your prepared remarks about how well protected your customers were, but -- and I'm sure it's early to see any financial benefit from CrowdStrike. But I'm just kind of curious how this is changing customer thinking about cyber resilience, if at all.

Question: Fatima Boolani - Citi Investment Research - Analyst : Well, good afternoon. Thank you for taking my question. Bipul, just a question for you about the market landscape and a little bit from competitive ones. But just kind of broadly speaking, we've seen a lot of activity in the data security posture management space, both in the private markets from newer companies, but also certainly, customers voting with their wallets in driving better attach rates for you and your products around the RPM. So I'm just wondering if you can sort of comment and maybe give us a little bit more quantitative granularity as to how much better those products are tracking with one year in Laminar. And then relatedly, you know, a large enterprise SaaS company that you do have a partnership with just acquired a backup and recovery company. So I was hoping you could kind of set the record straight on how this doesn't diminish your advantages and your differentiation when there are potentially, call it, embedded options in some of the data stores that you do actively protect. Thank you.

Question: Andrew Nowinski - Wells Fargo Securities, LLC - Analyst : Great. Thank you. Congrats on another great quarter post your IPO. I guess, I want to ask a question about the pending Veritas acquisition, so -- or merger, I should say. Once the deal is closed and merged with Cohesity, it sounds like you'll be able to migrate most of those customers -- those Veritas customers over to the Cohesity platform using an automated tool. So won't it be harder to convince those former Veritas customers to switch to Rubrik and still be on a much better platform than they were previously on?

Question: Howard Ma - Guggenheim Securities LLC - Analyst : Great. Thank you, and good afternoon, everyone. This is Howard Ma on for John. On Rubrik security cloud -- it's either for Bipul or Kiran. You've called out the increased contribution to NRR from adoption of additional security products. That's obviously positive. But can you comment more on the two other pieces, so workload expansion or upsells and additional apps secured by Rubrik? And this is kind of a two parter. The first part is, are you seeing any signs of slowdown in these two other drivers? Or do you still see a lot of white space in both cloud data protection and cyber resilience? And the second part is can you remind us of your product roadmaps related to the first, you know, if there is a lot of whitespaces out there, which additional applications are you adding in your near term? Thank you.

Question: Gregg Moskowitz - Miuho Securities USA, LLC - Analyst : Okay. Thank you very much, and good afternoon, guys. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2024 / 9:00PM, RBRK.N - Q2 2025 Rubrik Inc Earnings Call I had a follow-up to Saket's question just regarding the CrowdStrike IT outage. Bipul, from what you can ascertain -- I was just wondering if the outage has led to an increase in pipeline build or velocity for Rubrik or is that simply too difficult to gauge? And then secondly, curious about how the usage has been looking for Ruby AI, if you could give us an update there as well. Thank you.

Question: Joel Fishbein - Truist Securities - Analyst : Thanks for taking the question and congrats on the strong execution. Karen one for you obviously made some significant progress on the on the margin side of the business. I just would love to drill down a little bit deeper maybe on it, where will we see leverage come from moving forward? I know you've talked about sales and marketing, but if you could give us a little bit more granularity, that would be really helpful. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2024 / 9:00PM, RBRK.N - Q2 2025 Rubrik Inc Earnings Call

Question: Eric Heath - KeyBanc Capital Markets - Analyst : Thanks for taking the question. And a really strong set of results here. So I just wanted to come back to the conversation on data security and DSPM. Bipul, maybe if you could just share how the evolution is going in terms of your engagement with customers, is this driving more conversations and engagement with the CISO or the chief information security officer in that organization? And then maybe just given some of the early proof points with the adoption of 50 customers, what kind of uplift you're seeing with the adoption of the enterprise proactive tier? Thanks.

Question: Yi Fu Lee - Cantor Fitzgerald, L.P. - Analyst : Congrats on a strong back to back fiscal 2Q. Thank you for taking my question. For Bipul or Kiran, my question revolves around the Mandiant threat intelligence collaboration. It does make total sense for us that you're joining first class Mandiant incident response with Rubrik's ransomware response tea m together. So the question about -- my question revolves around the penetration that Google Cloud sector. How do you think about that, Bipul and Kiran? We understand you're very sharp with the Microsoft partnership, Microsoft Azure cloud. And any color on AWS as well (inaudible)?

Question: Todd Coupland - CIBC World Markets Inc. - Analyst : Yes, good evening. I had a two-part question. One, I just will follow up on the Veritas Cohesity question. You talked about how it's opening up a window. Has that started yet? And when would you expect it to ramp up over what time period? And then I have a quick follow-up.

Question: Todd Coupland - CIBC World Markets Inc. - Analyst : Great. Thank you. And then a follow-up is we haven't really talked about the economy and impact on enterprise spending. I understand cyber is a priority and CrowdStrike's incident certainly raises that point as an obvious conclusion, but what impact, if any, is the current economy having on pipeline size, size of deals, time to close, et cetera? Just give us an update on that. Thank you.

Question: Brad Zelnick - Deutsche Bank Securities Inc. - Analyst : Great. Thanks so much for taking my question and congrats on a great first half and raising the full-year guidance. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2024 / 9:00PM, RBRK.N - Q2 2025 Rubrik Inc Earnings Call Kiran, I was just wondering if you can comment on the confidence level that you have and the visibility to the guidance here that we have implied for the back half. And maybe if you can frame it in terms of just the methodology that you've been using thus far, anything that we should know. I know the prior question asked about macro but any factors and key assumptions that we should be thinking about or changes would be helpful.

Question: John Katsingris - Wedbush Securities, Inc. - Analyst : Hi, this is John Katsingris on for Dan Ives. Congrats in the quarter. Given the strong subscription ARR growth seen through the quarter and the addition of new customers, more bird's eye view on strategic initiatives that are in place to sustain or accelerate growth, looking really into the remainder of the year and maybe into 2020 -- clearly, '26. Thank you.

Question: Shrenik Kothari - Robert W. Baird & Co. Incorporated - Analyst : Yes, thanks for taking my question and congrats on a great quarter. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2024 / 9:00PM, RBRK.N - Q2 2025 Rubrik Inc Earnings Call Hey, Bipul. So with Rubrik being named Microsoft Healthcare and Life Science Partner of the Year, and as you are set to host your first health care summit coming up this week, can you just elaborate like how is Rubrik uniquely positioned to first address the unique healthcare challenges? And what is driving the success in the vertical and how the strong relationship with the key partners like Microsoft, as the recognitions seems to suggest,

Question: James Fish - Piper Sandler & Co. - Analyst : And guys, thanks for the questions here. Circling back actually [on the team of] around Salesforce. First of all, I guess, how should we think about Rubrik's exposure to Salesforce today within that expansion driver application? And second, you guys talked about a lot of wins in which you are the consolidated down vendors. I guess what type of TCO benefits our customers seeing on consolidating down to Rubrik and how many backup solutions are typically in these environments that you're replacing? Thanks, guys. Good quarter.