Rubrik's Growth Amid Rising Ransomware Threats

Rubrik is transforming cybersecurity by helping businesses maintain operations despite inevitable attacks.

### Rubrik's Resilience Amidst Rising Cyber Threats and Ransomware Challenges
* 📈 Analysts have praised Rubrik's impressive growth, highlighting their unique position in the cyber and data security market, stating, "**You're the only game in town**."
* 💼 The company reported another outstanding quarter, showcasing **strong top-line growth**, **improved profitability**, and **significant free cash flow**, marking an exciting time for Rubrik.
* 🔒 Demand for Rubrik's services is driven by the understanding that businesses must **invest heavily in defending against cyberattacks**, as "**you can't stop the unstoppable**," emphasizing the need for a **resilient strategy**.
* 🚨 With ransomware attacks surging by **70% in 2023**, the focus has shifted to protecting vulnerable sectors such as **local governments, schools, and healthcare institutions**, which are often targeted due to **inadequate defenses**.
* 🏥 The healthcare sector, in particular, faces significant risks due to the **vast amounts of sensitive data it holds**, making it **three times more vulnerable** than the average enterprise amidst ongoing digital transformation.
* 🔍 Looking ahead to 2025, the anticipated "America First" administration is expected to **escalate industrial espionage and cyber warfare**, presenting a **grim outlook for cybersecurity** as businesses digitize rapidly.
* 📊 Rubrik aims to **empower businesses to undergo digital transformations confidently**, ensuring operational continuity even in the face of **increasing cyber threats**.
* 💻 Additionally, the JennAir applications play a crucial role in Rubrik's strategy, **centralizing data to prevent unauthorized access**, particularly in sensitive environments like healthcare, where **data security is paramount**.

Congratulations on the numbers.
Analysts are really liking what you've been able to show in terms of cross-selling
here; many are saying, 'Look, you're the only game in town when it comes to cyber
and data security.' How are you seeing your clients pick up?
Thanks, Caroline.

We had another outstanding quarter, and
we are very pleased to not only have strong growth at the top line, but
we also improved profitability and generated free cash flow.
So, exciting time. Exciting time for us.
What is fueling Rubik's demand is really

this realization that folks have to
spend a lot of dollars stopping attacks across network and point cloud.
But you can't stop the unstoppable. You need a resilient strategy to
ensure that when the inevitable breach happens, you can still run your
business; that groups can go to school

because the schools are open, the
hospitals can admit patients. And that's what we are focused on.
And we are helping businesses ensure continued operation even when
confronted with a cyberattack. And that's what is fueling our demand.
It's interesting; today, a really well-

written story on Bloomberg by Ryan Gallagher
is all about ransomware gangs targeting not just large
institutions, but small and medium-sized enterprises.
And with ransomware attacks up 70% in 2023, what is the outlook for
everyone having to adopt some sort of

protection here, Rubik?
Ransomware continues to be a huge problem because it's a monetizable way
for cyber gangs and criminals to profit from cyberattacks.
So the issue is, who are they targeting?
And they are targeting the weakest link,

which is are local governments, local schools; they are targeting hospitals and other health care institutions because these organizations are not properly protected. If you just think about health care, there's so much sensitive data in health care—three times more sensitive data

than the average enterprise. The amount of digital transformation happening in the health care space to reduce the cost of health care and deliver better services is creating more surface area of attack. As we are focused on protecting the unprotected, we're going to break some news.

Hold on for a minute. But we have news from our own Mark Gurman regarding Apple, with breaking news that Apple is preparing to finally bring one of its most ambitious projects to market: the cellular modem chips we've been hearing about that will

replace components for its partners and, basically, its adversary, Qualcomm. Qualcomm is off by a percentage point; Apple is up 3/10 of a percent. For more than five years, they've been focused on this in-house modem system.

And it's going to debut next spring, according to people familiar with the matter. We will bring you more on that story. But let's get back to Rubrik, because we were just talking about the expansive nature of ransomware attacks. Can you paint a picture of what it

looks like going into the next administration in 2025? Are we likely to see a change in the narrative around data protection and data security?

cybersecurity? The next administration will be an America First administration, and that will actually spur more industrial espionage, more cyber warfare, more cyber activities, more insider attacks, and more cyberattacks. And so we believe that as we are digitizing faster, and the next administration will be quite business-

focused, the outlook for cybersecurity is obviously grim, and we are ready and prepared to help businesses protect themselves as they expand internationally, as they expand their business, and as they create more digital transformation. Our goal is to help every business confidently transform digitally without worrying about how they can keep their services up and running.

We haven't mentioned JennAir yet. How much are you having to reference it to your clients? Look, JennAir is a big driver for our business because JennAir applications

are actually data-hungry, and they are pulling data from all the nooks and crannies of business applications into a centralized place and ensuring that that data doesn't fall into the wrong hands. Who uses these JennAir applications? You don't want salespeople in a hospital to have access to patient records.

And this is where we are focused on really delivering data security, ensuring that the JennAir applications are trusted and responsible.

Rubrik CEO Says 'America First' to Spur Cyber Warfare

Welcome to the Bloomberg Technology YouTube channel. Subscribe for original series and mini-docs on game-changing technologies, profiles on innovators, live conversations with experts, and breaking technology news & analysis from Bloomberg TV.

Bloomberg Technology

Rubrik's Strong Financial Performance and Market Position

Analysts praise Rubrik's success in cross-selling and its leading position in cyber and data security.

Rubrik reports another outstanding quarter with strong top-line growth, improved profitability, and free cash flow generation.

Rubrik's demand is driven by the need for resilient strategies to ensure business continuity during cyberattacks.

Rubrik focuses on helping businesses maintain operations even after cyberattacks.

The Rise of Ransomware Attacks and Rubrik's Response

Ransomware attacks are increasing, targeting small and medium-sized enterprises (SMEs).

Ransomware is a monetizable crime targeting vulnerable organizations like local governments, schools, and hospitals.

Healthcare is particularly vulnerable due to high volumes of sensitive data and increased digital transformation.

Apple's Upcoming Cellular Modem Chip and its Impact on Qualcomm

Apple is preparing to launch its own cellular modem chips, replacing components from Qualcomm.

Future Outlook for Cybersecurity and Data Protection

The future administration's 'America First' approach is expected to increase cyber threats.

Increased digitalization and a business-focused administration will worsen the cybersecurity outlook.

Rubrik aims to help businesses confidently undergo digital transformation without compromising service uptime.

The Role of JennAir Applications in Data Security

JennAir applications are data-hungry, centralizing data and ensuring its protection.

JennAir focuses on data security, preventing unauthorized access to sensitive information.

Rubrik emphasizes the importance of trusted and responsible JennAir applications.