Rubrik shares soared 25% on Friday after the data management company posted blowout third-quarter numbers and boosted guidance.
The stock, which debuted on the market in April 2024, headed for its second-best day on record.
Revenue jumped 48% from a year earlier to $350 million, topping the $320 million average analyst estimate, according to LSEG. In its announcement late Thursday, Rubrik reported adjusted earnings of 10 cents per share, while analysts had expected a loss of 17 cents per share.
The company boosted revenue guidance for the fiscal year to a range of $1.28 billion to $1.282 billion, up from a previous high of $1.237 billion.
CEO Bipul Sinha told CNBC’s “Closing Bell: Overtime” on Thursday that the company’s strength in cyber resilience and its recent move into safeguarding artificial intelligence agents is fueling its rapid growth.
“As businesses are taking on agents, their biggest worry is, they don’t know what the hell is going on,” Sinha said. “What are these agents doing? Are they hallucinating? Do they have guardrails? And if they do make mistakes, can we undo those mistakes?”
