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Rubrik aims to go public in transition to SaaS (pending: RBRK)

SmileStudioAP

Rubrik is transforming into a SaaS company

Rubric, Inc. (RBRK) has filed to raise $100 million in an initial public offering of its Class A common stock, according to an SEC S-1 registration statement.

Rubrik helps companies protect their data

Sales and Marketing

Expenses vs. Income

Period

percentage

FYE January 31, 2024

76.8%

FYE January 31, 2023

69.6%

click to enlarge

Rule of 40

calculation

Recent Sales Growth %

5%

Operating margin

-49%

In total

-44%

click to enlarge

Grand View Research

Total sales

Period

Total sales

% Variance vs. Previous

FYE January 31, 2024

$627,892,000

4.7%

FYE January 31, 2023

$599,819,000

Gross profit (loss)

Period

Gross profit (loss)

% Variance vs. Previous

FYE January 31, 2024

$482,930,000

15.6%

FYE January 31, 2023

$417,805,000

Gross margin

Period

Gross margin

% Variance vs. Before

FYE January 31, 2024

76.91%

10.4%

FYE January 31, 2023

69.66%

Operating profit (loss)

Period

Operating profit (loss)

Operating margin

FYE January 31, 2024

$(306,506,000)

-48.8%

FYE January 31, 2023

$(261,548,000)

-43.6%

Total income (loss)

Period

Total income (loss)

Net margin

FYE January 31, 2024

$(355,096,000)

-56.6%

FYE January 31, 2023

$(278,959,000)

-46.5%

Cash flow from operating business

Period

Cash flow from operating business

FYE January 31, 2024

$(4,518,000)

FYE January 31, 2023

$19,287,000

(Glossary of terms)

click to enlarge

We intend to use the net proceeds we receive from this offering, together with existing cash, cash equivalents and short-term investments as necessary, to satisfy all of our anticipated tax withholding and remittance obligations in connection with the settlement of certain outstanding RSUs. Net billing and the additional RSU net billing.

We intend to use the remaining net proceeds received from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures. We cannot indicate with certainty all of the specific uses for the remaining net proceeds from this offering. We may also use a portion of the remaining net proceeds to acquire or strategically invest in complementary businesses, products, services or technologies. However, there are currently no agreements or commitments to make significant acquisitions or investments.

(Source – SEC)

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