Note 13 – Segment Reporting

The Company has one reportable segment which is software and services. The software and services segment provides unified data security solutions to customers primarily under SaaS arrangements. The Company manages the business activities on a consolidated basis. The technology used in the customer arrangements is primarily based on a single software platform that is deployed to and implemented by customers in a similar manner. The types of software and services from which the Company generates revenue are described under the “Revenue Recognition” policy within the “Note 2, Basis of Presentation and Summary of Significant Accounting Policies”.

The Company’s chief operating decision maker is its chief executive officer. The chief operating decision maker assesses performance for the software and services segment and decides how to allocate resources based on net loss that is also reported on the consolidated statements of operations as consolidated net loss. The chief operating decision maker does not use any segment assets measure to assess performance and decide how to allocate resources.

The chief operating decision maker uses net loss and the functional areas as a percentage of revenue to evaluate and decide where to invest within the software and services segment. Net loss is used to monitor budget versus actual results. The chief operating decision maker also uses net loss in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing the performance of the segment.

The Company does not have intra-entity sales or transfers.

The following table presents the segment information (in thousands):


	Year Ended January 31,
	2026		2025		2024
Total revenue	$	1,316,191	$	886,544	$	627,892
Less:
Adjusted subscription cost of revenue (1)	203,723		161,576		96,053
Remaining cost of revenue	18,664		24,593		40,235
Remaining research and development expenses	262,698		226,235		194,639
Remaining sales and marketing expenses	647,256		531,154		475,687
Remaining general and administrative expenses	159,918		131,462		95,431
Stock-based compensation expense (2)	329,374		913,913		5,715
Depreciation and amortization	32,486		27,970		24,962
Amortization of acquired intangibles	7,488		3,673		1,676
Interest expense	17,227		41,253		30,295
Income tax expense	22,355		6,368		26,689
Other items (3)	15,987		(1,480)		1,884
Plus:
Interest income	52,157		25,353		11,216
Segment net loss	(348,828)		(1,154,820)		(354,158)

Consolidated net loss	$	(348,828)	$	(1,154,820)	$	(354,158)

(1) Adjusted subscription cost of revenue is subscription cost of revenue adjusted for stock-based compensation expense, amortization of acquired intangibles, and stock-based compensation included in amortization of capitalized internal-use software as follows (in thousands):


	Year Ended January 31,
	2026		2025		2024
Subscription cost of revenue	$	229,741	$	215,036	$	97,927
Less:
Stock-based compensation expense	16,374		49,514		45
Amortization of acquired intangibles	7,488		3,673		1,676
Stock-based compensation included in amortization of capitalized internal-use software	2,156		273		153
Adjusted subscription cost of revenue	$	203,723	$	161,576	$	96,053

(2) See Note 10 for stock-based compensation expense by captions.

(3) Other items include foreign currency exchange gains and losses.

The following table presents the Company’s long-lived assets, including property and equipment, net and ROU assets, by geographic region (in thousands):


	January 31,
	2026		2025
United States	$	83,035	$	62,455
India	28,560		10,453
Rest of world	5,143		6,192
Total long-lived assets	$	116,738	$	79,100

Historical Timeline

Fiscal Year	Filed
2026	Mar 19, 2026	Showing above
2025	Mar 20, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Rubrik, Inc. Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures