Rubrik Surpasses $1 Billion in Subscription Annual Recurring Revenue
December 5, 2024
IPO: Apr 25, 24
Industry:
PREPACKAGED SOFTWARE
Palo Alto, California – Rubrik (NYSE: RBRK), the Zero Trust Data Security™ company, announced strong financial results for the third quarter of fiscal year 2025.
Subscription annual recurring revenue (ARR) grew 38% year-over-year to $1.002 billion. Total revenue increased 43% to $236.2 million. Rubrik now has 2,085 customers with a subscription ARR of $100,000 or more, up 32% year-over-year.
“We are incredibly proud to have surpassed $1 billion in subscription ARR,” said Bipul Sinha, CEO of Rubrik. “This strong growth demonstrates that we are winning the cyber resilience market.”
Kiran Choudary, CFO of Rubrik, added: “We had another strong quarter, exceeding expectations across all metrics. In addition to strong growth, our subscription ARR contribution margin was up over 1,100 basis points year-over-year, and we generated positive free cash flow.”
Rubrik raised its full-year guidance and now expects subscription ARR between $1.057 billion and $1.061 billion and revenue between $860 million and $862 million.
Aduro Clean Technologies Announces Partial Exercise of Over-Allotment Option
December 3, 2024
IPO: Nov 07, 24
Industry:
CHEMICALS & ALLIED PRODUCTS
London, Ontario – Aduro Clean Technologies (Nasdaq: ADUR), a clean technology company that transforms waste plastics, heavy bitumen, and renewable oils into valuable resources, announced that the underwriters of its U.S. initial public offering have partially exercised their over-allotment option.
The underwriters purchased an additional 100,000 common shares at a price of $4.25 per share. A total of 1,041,177 common shares were sold for gross proceeds of approximately $4.43 million. The shares began trading on The Nasdaq Capital Market on November 7, 2024, under the ticker symbol “ADUR.”
The proceeds from this financing will support NANO Nuclear in accelerating its microreactor technologies, developing auxiliary businesses, pursuing potential acquisitions, and driving growth towards revenue generation.
Aduro intends to use the net proceeds from the offering for ongoing research and development costs, expenditures related to the construction of its “Next Generation Process” unit, and the remainder for general corporate purposes and working capital.