10:38 AM EDT, 06/06/2025 (MT Newswires) -- Rubrik's ( RBRK ) non-recurring revenue helped it deliver "solid" fiscal Q1 results, with Q2 guidance also ahead of consensus, Oppenheimer said in a note Thursday.

"Much of the outperformance to the quarter revenue and guide came from non-recurring revenue...without which Rubrik ( RBRK ) would have performed below bullish buy-side expectations," it said.

Still, the report pointed to a strong performance in some key metrics, including revenue growth of over 49% from a year ago and subscription annual recurring revenue growth of over 38%.

"With current valuation at 13x EV/Sales, we believe it fully captures a mid-30s annual growth rate, and maintain our perform rating," Oppenheimer said.

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