FORM10-Q (Mark One)xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedApril30, 2025oroTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from_________to ________Commission File Number:001-42028 RUBRIK, INC. (Exact name of registrant as specified in its charter)_________________________ Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filingrequirements for the past 90 days.YesxNoo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. Large accelerated fileroAccelerated fileroNon-accelerated filerxSmaller reporting companyoEmerging growth companyx If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YesoNox As of May31, 2025, Rubrik Inc. had123,563,326shares of Class A common stock outstanding, and69,930,024shares of Class B common stockoutstanding. Rubrik, Inc.FORM 10-QFor the Fiscal Quarter Ended April30, 2025TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1.Financial Statements (unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive LossCondensedConsolidatedStatementsofRedeemableConvertiblePreferredStockandStockholders’DeficitCondensedConsolidatedStatementsofCashFlowsNotes to Condensed Consolidated Financial StatementsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II. OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks anduncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, includingstatements regarding our future financial condition or results of operations, business strategy and plans, and objectives of managementfor future operations are forward-looking statements. In some cases, you can identify forward-looking statements because they containwords such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,”“should,” “target,” “toward,” “will,” “would,” or the negative of these words or other similar terms or expressions. These forward-lookingstatements include, but are not limited to, statements concerning the following: •our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses, and other results ofoperations, including our key metrics;•the growth rate of the market in which we compete;•our business plan and our ability to effectively manage our growth and associated investments;•anticipated trends, growth rates, and challenges in our business and in the markets in which we operate;•our ability to achieve or sustain our profitability;•future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements;•the costs and success of our marketing efforts and our ability to promote our brand;•our ability to increase sales of our products;•our ability to acquire new customers and successfully retain and expand platform usage with existing customers;•our ability and expectations to continue to innovate and enhance our platform;•our ability to operate our business under evolving macroeconomic conditions, such as high inflation, bank failures and relateduncertainties, or rec