Investing.com -- Cybersecurity software company Rubrik raised its fiscal 2027 guidance after reporting first-quarter results that exceeded all of its own targets, driven by strong growth in subscription revenue and annual recurring revenue (ARR).

The company said subscription ARR rose 32% year over year to $1.57 billion as of April 30, while total revenue increased 39% to $387.1 million. Subscription revenue climbed 41% to $374.2 million.

Rubrik reported adjuested earnngs per share of 16 cents per diluted share, compared with a loss of 15 cents per share in the prior-year period.

Operating cash flow nearly doubled to $81.7 million, while free cash flow rose to $73.6 million from $33.3 million a year earlier, resulting in a free cash flow margin of 19%.

Chief Executive Officer Bipul Sinha said Rubrik is becoming an increasingly strategic platform for “agentic cyber resilience,” combining data, identity and AI capabilities, and that the company remains in the early stages of benefiting from AI adoption.

During the quarter, Rubrik expanded its AI and cybersecurity offerings, including partnerships involving Anthropic's AI research tools, new protection for Google Workspace, and the launch of Rubrik Agent Cloud for Google Cloud's Gemini Enterprise Agent Platform.

For the second quarter, Rubrik forecast revenue of $395 million to $397 million and an adjusted earnings per share of 3 cents to 5 cents per share.

The company also raised its full-year fiscal 2027 outlook, projecting subscription ARR of $1.854 billion to $1.862 billion, revenue of $1.638 billion to $1.648 billion, adjuested earnings of 25 cents to 35 cents per share, and free cash flow of $293 million to $303 million.