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Rubrik Data Security Company Files for IPO on the NYSE

Data security company Rubrik has applied to list on the New York Stock Exchange. As part of a potential IPO, the company would list its shares under the ticker symbol “RBRK.” Rubrik has received backing from tech giant Microsoft (MSFT), which also has a small stake in the company, to expand its presence in data security.

Dan Howley, tech editor at Yahoo Finance, breaks down the details and provides insight into the company's financial performance.

For more expert insights and the latest market activity, click here to watch this full episode of Morning Brief.

Editor's Note: This article was written by Angel Smith

Video transcript

Rubrik, another technology company looking to make its stock market debut, has filed to go public on the New York Stock Exchange under the ticker symbol RBRK as an IPO market. It seems to be gaining momentum again. Yahoo Finance's Dan Howley joins us now with more. Rubric, and as far as I know it is a Microsoft partnership or partnership.

AND HOWLEY: Yes, you are a supporter of Rubrik. Essentially, this is a company that is all about data security. There are some elements of cybersecurity. But they really seem to focus on data security. This means that the data is kept safe wherever it moves or rests.

And they say a few things in their S-1 about how generative AI growth needs to be part of this data security discussion and how they're incorporating AI directly into their formula when it comes to overall data security. But last year they saw 47% year-over-year subscription growth, which is annual recurring subscription revenue. Last year, specifically the last quarter, Q4 2024, they recorded $784 million in recurring revenue. But their losses have increased. Last year they recorded losses of 277.7 million. They recorded a net loss of 354.2 million last year.

Clearly they are still growing and expanding. They say a lot of their money currently goes into advertising. A lot of this has to be making sure people know what the company is and why it's important, especially when it comes to data security. Many people think that cybersecurity cannot simply be a one-stop shop. There are many companies that are also moving in this direction.

The story goes on

What form of ownership are we talking about here at Microsoft?

AND HOWLEY: It will regularly be relatively small. It won't be huge. But I think the fact that Microsoft has a role here means that it's all about where Microsoft stands in terms of overall data security and overall cybersecurity. By the way, they are making strong inroads into this area with their own products.

Yes.

AND HOWLEY: So there you have it. But then just make sure they all have their hands in different pots or pies?

Lots of irons in the fire.

AND HOWLEY: Yes, there it is. This is a mixed metaphor. But yeah, I mean the idea – I think I'm just thinking about cake.

Aren't we all?

AND HOWLEY: Always. I think the idea of ​​them trying to get more into security is very important to Microsoft as they are regularly criticized as a weak point in the cybersecurity chain. So I think it's very important for them to continue to push forward with deals like this.

Okay, we have to leave it at that. Thank you for this, Dan Howley.

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