๐น Revenue: $309.9M (Est. $282M) ๐ข; UP +51% YoY
๐น EPS (Non-GAAP): ($0.03) (Est. ($0.34)) ๐ข
๐น Subscription Revenue: $297.0M; UP +55% YoY
FY26 Guidance:
๐น Revenue: $1.227Bโ$1.237B (Est. $1.19B) ๐ข
๐น EPS (Non-GAAP): ($0.50)โ($0.44) (Est. ($0.97)) ๐ข
๐น Subscription ARR: $1.408Bโ$1.416B
๐น Free Cash Flow: $145Mโ$155M
๐น ARR Contribution Margin: ~7.0%
Q3 Guidance:
๐น Revenue: $319Mโ$321M
๐น Non-GAAP EPS: ($0.18)โ($0.16)
๐น Subscription ARR Contribution Margin: ~6.5%
Q2 Margins & Cash Flow
๐น Subscription ARR: $1.25B; UP +36% YoY
๐น Customers โฅ$100K ARR: 2,505; UP +27% YoY
๐น Adj Gross Margin: 81.6% (vs. 77.0% YoY)
๐น Subscription ARR Contribution Margin: 9.4% (vs. -8.2% YoY)
๐น Cash Flow from Ops: $64.7M (vs. -$27.1M YoY)
๐น Free Cash Flow: $57.5M (vs. -$32.0M YoY)
๐น Cash & Equivalents: $1.52B
CEO Commentary (Bipul Sinha)
๐ธ โWe delivered a strong quarter with exceptional top-line growth and significant cash flow margin. We continue to build towards a highly profitable growth business.โ
๐ธ โThe acquisition of Predibase bolsters our ability to deliver secure, efficient and accelerated GenAI for our customers.โ
CFO Commentary (Kiran Choudary)
๐ธ โ36% growth in subscription ARR and 19% free cash flow margin were driven by new customer acquisition, robust expansion, and efficiencies. Weโre pleased to raise our outlook for FY26.โ
Business Updates
๐น Acquired Predibase to accelerate agentic AI adoption.
๐น Launched Agent Rewind, powered by Predibase AI infrastructure.
๐น Expanded protections for Amazon RDS PostgreSQL & DynamoDB.
๐น Named Leader in Gartner Magic Quadrant for Backup & Recovery (6th year in a row).