RBRK F1Q27 Earnings - Brik by Brik

研报英文原文证据摘录

RBRK F1Q27 Earnings - Brik by Brik

June 5, 2026

Investment Conclusion

RBRK traded down ~2% after hours following the company's F1Q27 earnings print after market close. Prior to the

print, RBRK stock was up +1% YTD versus the IGV -5%, our All Security Index +31%, Scaled Leaders comp group

+13% YTD, and industry peer CVLT -3%. Over the last three months, RBRK shares were up +40% versus the IGV

+17%, our All Security Index +45%, Scaled Leaders comp group +39%, and industry peer CVLT +39%.

RBRK currently trades at ~8x EV/CY27 Revenue, which represents more than a two-turn discount to our Scaled

Leaders comp group (>15% revenue in CY26 & >$500M incremental revenues) that trades at a median multiple of

~10x. Further, if we separate only the Data/Infra and Security names in this group, the median revenue multiple is ~16x

CY27 Revenue, essentially double RBRK's current multiple. While RBRK is not quite at the $500M of incremental

revenue scale yet, our upside model suggests that they will be close, and we believe the most appropriate comps

come from this basket of names. As such, our price target of $95 per share implies an EV/CY27 Revenue multiple of

~10x, which is in line with the median of Scaled Leaders as a whole, but still a significant discount relative to just

Data/Infra and Security names. We continue to view RBRK as one of the best ways to play AI from both a security

and data perspective and believe that multiple does not currently reflect the upside to numbers both this year and

beyond. RBRK remains Out Perform rated.

Results vs. Consensus

Exhibit 1 - RBRK F1Q27 Results & Outlook vs. Prior Consensus Est.

Source: Company Reports, FactSet, Visible Alpha

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