Rubrik shares drop on raised outlook as SentinelOne slides on profit guide
Shares of Rubrik Inc. and SentinelOne Inc. both fell in late trading today despite the two cybersecurity companies posting fiscal second-quarter beats on revenue and earnings.
Rubrik dropped about 8%, a reaction that came even as the security and AI operations company lifted its outlook for the full year. A soft annual profit forecast saw SentinelOne shares drop nearly 4%.
For the quarter that ended on July 31, Rubrik reported adjusted earnings of 20 cents per share, reversing a loss of three cents per share in the same quarter a year earlier, on revenue of $427.3 million, up 38% year-over-year. Analysts were expecting four cents per share on revenue of $396.3 million.
Subscription revenue came in at $407.2 million, up 37% year-over-year, and subscription annual recurring revenue reached $1.66 billion as of July 31, up 33% from a year earlier. Cloud grew faster still, at 39%, to $1.48 billion. Rubrik ended the quarter with 3,084 customers on subscription plans worth $100,000 or more, up 23%.
