Rubrik, Inc. - RBRK STOCK NEWS

Rubrik's new research reveals significant financial and operational impacts of cybersecurity regulations on UK financial services. Nearly half (47%) of UK financial organizations spent over €1 million in the past two years implementing regulations like DORA and PRA, while 28% spent between €501,000-€1,000,000.

The study highlights that ransomware remains the primary threat (46%) to financial organizations, followed by third-party compromise (20%) and software supply chain issues (19%). Notably, 79% of CISOs report mental health impacts from these challenges, and 77% feel their IT budget doesn't align with board objectives for meeting regulatory requirements.

The European Digital Operational Resilience Act (DORA), effective from January 17th, 2025, will introduce an enforced universal framework focusing on ICT risk management. Despite implementation challenges, 73% of UK CISOs express confidence in cloud security for sensitive data.

Rubrik (NYSE: RBRK) has announced plans for a new office in Bangalore, India, set to open in mid-2025. The facility will integrate product development, management, customer support, and global recovery operations. The expansion builds on Rubrik's presence in India since 2017, including its R&D centre established in 2019.

The company emphasizes its commitment to recruiting from India's top universities, noting its success in attracting ICPC International Collegiate Programming Contest World Finalists. The new facility will feature modern amenities including metro connectivity, fitness facilities, recreation areas, and culinary services capable of serving 1,500 meals daily.

CEO Bipul Sinha highlighted India's digital transformation and its strategic importance, with the country having over 941 million internet subscribers as of October 2024. The company maintains active sales and presales teams in Delhi, Mumbai, and Bangalore.

Rubrik (NYSE: RBRK) has announced Turbo Threat Hunting, a new feature designed to accelerate cyber recovery by scanning up to 75,000 backups in under 60 seconds. The solution aims to help organizations quickly identify clean recovery points after cyberattacks, addressing a critical concern as 60% of IT and security leaders worry about maintaining business continuity during cyber incidents.

The feature leverages pre-computed hashes stored within Rubrik's metadata, eliminating the need for file-by-file scanning. Key capabilities include pre-computed hashing, malicious file quarantine, multi-cluster scanning, and full estate analysis without disruption. The feature is currently in beta for Rubrik Enterprise Edition and cloud customers, with general availability planned for end of January 2025.

Rubrik (NYSE: RBRK) has achieved Federal Risk and Authorization Management Program (FedRAMP®) authorization at the Moderate Impact Level for its Rubrik Security Cloud – Government platform. The authorization was sponsored by the National Nuclear Security Administration (NNSA), an Office of the U.S. Department of Energy. The platform, built on zero trust architecture, is designed to secure enterprise, cloud, and SaaS data against cyberattacks.

FedRAMP is a government-wide program that standardizes security assessment and monitoring of cloud services. The Moderate Impact Level authorization indicates the platform is suitable for agencies where security breaches would have serious adverse effects on operations, assets, or individuals.

Rubrik announces the integration of Data Security Posture Management (DSPM) into Rubrik Security Cloud, set to launch in early 2025. This integration aims to address sensitive data exposure concerns in generative AI adoption by providing enhanced data visibility and control across cloud, SaaS, and on-premises environments.

The new DSPM feature allows existing Rubrik customers to activate capabilities within their current environment without lengthy deployment processes. The solution utilizes Microsoft MIP labeling to classify data and identify risks, helping organizations proactively reduce data risks and accelerate secure AI adoption.

Key benefits include automated sensitive data classification, risk reduction for Gen AI tools, remediation of excessive permissions, and correction of data classification labels, all while leveraging existing Rubrik Security Cloud infrastructure.

Rubrik (NYSE: RBRK), a Zero Trust Data Security company, has announced its upcoming participation at the Barclays Global Technology Conference in San Francisco. The presentation is scheduled for Wednesday, December 11, 2024, at 4:15 p.m. PT. Interested parties can access the live presentation and its archived version through Rubrik's investor relations website at https://ir.rubrik.com.

Rubrik (NYSE: RBRK) reported strong Q3 FY2025 results, with Subscription ARR growing 38% year-over-year to $1,002.3 million and total revenue increasing 43% to $236.2 million. The company achieved 2,085 customers with $100K+ in Subscription ARR, up 32% year-over-year.

Key financial metrics include subscription revenue of $221.5 million (up 55%), GAAP gross margin of 76.2%, and improved free cash flow of $15.6 million. The company's cash position stands at $632.0 million. Notable developments include new partnerships with Pure Storage and Okta, plus enhanced support for Microsoft 365 Copilot and Red Hat OpenShift.

For Q4 FY2025, Rubrik expects revenue between $231.5-233.5 million, and full-year FY2025 revenue guidance of $860-862 million.

Rubrik (NYSE: RBRK) announces enhanced cyber protection capabilities for AWS cloud data, focusing on improving cyber resilience and reducing downtime risks. The company introduces Rubrik Cloud Vault (RCV), a fully managed, isolated, and immutable backup repository, along with expanded features including Anomaly Detection, Threat Monitoring, Threat Hunting, and Data Discovery & Classification. These services aim to help organizations identify hidden threats, respond faster to cyber incidents, and ensure clean data recovery. While Anomaly Detection is currently available for AWS customers, other features including RCV are planned for early 2025.

Rubrik announces Rubrik Annapurna, a single API service integrating with Amazon Bedrock for building generative AI applications. The service provides secure data embeddings from Rubrik Security Cloud, enabling access to enterprise-wide data across on-premises, cloud, and SaaS platforms.

The integration aims to simplify AI development by providing fast API-first secure data access, out-of-the-box application-aware embedding engine, seamless data mobilization, and a unified datastore. Key use cases include intelligent customer support, smart sales assistance, and creative marketing tools, allowing organizations to leverage their proprietary data for AI applications while maintaining security and compliance.