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Registered number: 11375501
















RUBRIK UK LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026


































img0b6a.png


RUBRIK UK LIMITED

 
COMPANY INFORMATION


DIRECTORS
Yan Zhang 
Phyllis Siwah Liu 




REGISTERED NUMBER
11375501



REGISTERED OFFICE
C/O Citco London Limited
7 Albemarle Street

Mayfair

London

United Kingdom

W1S 4HQ




INDEPENDENT AUDITORS
Bishop Fleming Audit Limited
Chartered Accountants & Statutory Auditors

10 Temple Back

Bristol

BS1 6FL






RUBRIK UK LIMITED


CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Directors' Responsibility statement
 
5
Independent Auditors' Report
 
6 - 9
Statement of Comprehensive Income
 
10
Statement of Financial Position
 
11
Statement of Changes in Equity
 
12
Notes to the financial statements
 
13 - 25



RUBRIK UK LIMITED

 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2026

INTRODUCTION
 
Rubrik UK Limited (the "Company") is a private company limited by shares, incorporated and domiciled in England and Wales under the Companies Act 2006. The Company is wholly owned indirectly by Rubrik Inc. (“Rubrik”), a public company incorporated in the United States, and provides marketing, pre-sales solicitation and post customer support services to Rubrik Inc. Rubrik is a market leader in Cloud Data Management and delivers automated backup, recovery, archival, search, compliance, analytics, and copy data management in a simple scale-out platform built for hybrid cloud. The Company began operations on January 1, 2019.

BUSINESS REVIEW
 
The Company provides marketing, pre-sales solicitation and post-sale customer support services to its ultimate parent company, Rubrik Inc., and is remunerated on a cost-plus basis. Turnover for the year was £58.2m (2025: £58.8m), broadly in line with the prior year and consistent with the overall vision of the Group and the plan for the Company.
Operating profit for the year was £1.3m (2025: £16.0m). The decrease is mainly due to higher employee-related expenses. Average headcount grew from 132 to 158 to support the Group's growth, and staff costs rose to £47.8m (2025: £36.5m).

PRINCIPAL RISKS AND UNCERTAINTIES
 
All of the Company's turnover is earned from services provided to its ultimate parent company, Rubrik Inc., so the Company's results depend on the financial condition and strategic direction of the Group. A material adverse change affecting the Group, such as a decline in its revenue or profitability or a reduced need for local sales and marketing support, could reduce the volume of services the Group requires from the Company and, in turn, the Company's results. Adverse economic or geopolitical conditions in the UK, Europe or globally could also reduce technology spending among prospective customers in the Company's territory.

FINANCIAL KEY PERFORMANCE INDICATORS
 
The Directors consider the key financial performance indicators of the Company to be turnover, operating profit and staff costs. Turnover was £58.2m (2025: £58.8m), operating profit was £1.3m (2025: £16.0m) and staff costs were £47.8m (2025: £36.5m), as discussed in the Business Review. Net assets increased to £35.8m (2025: £27.2m).

OTHER KEY PERFORMANCE INDICATORS
 
The Directors monitor average headcount as the principal non-financial indicator, as headcount drives the Company's cost base and its capacity to provide services to the Group. Average headcount increased to 158 (2025: 132), mainly in sales and marketing.

Page 1


RUBRIK UK LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026

DIRECTORS' STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY
 
As required under Section 172(1) of the Companies Act 2006, the Directors of the Company have a duty to act in a way they consider, in good faith, would be most likely to promote the success of the Company & for the benefit of its members as a whole, while having regard to various matters as set out in the Act.

The Company is a wholly owned subsidiary of Rubrik International Inc., with Rubrik Inc. as its ultimate parent company. Its primary activity is to provide services to the ultimate parent company. Strategic direction and key decisions regarding policies, operations, and business conduct are principally determined at the Group level. The Company operates in alignment with Group strategies, policies, and processes, and its board primarily implements the decisions taken by the Group.

In fulfilling their duties, the directors of the Company have had regard to:
∙The long-term objectives and sustainability of the Group, which inform decision-making at the UK entity level;
∙The interests and wellbeing of the Company’s employees, as set out in Group policies and procedures;
∙The Company’s business relationships, which predominantly involve other Group entities;
∙The impact of operations on the broader community and the environment, with guidance provided from the Group’s standards on corporate responsibility and sustainability;
∙The maintenance of high standards of business conduct, in accordance with Group codes of conduct and compliance requirements; and

The strategic decisions are taken at the Group head office, and the Directors seek to ensure that the implementation of such decisions at the UK company level reflects the factors set out in Section 172(1) and is consistent with applicable UK regulations and the interests of the Company as a whole.


This report was approved by the board on 23 October 2026 and signed on its behalf.



Yan Zhang
Director

Page 2


RUBRIK UK LIMITED

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2026

The Directors present their report and the financial statements for the year ended 31 January 2026.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £277,435 (2025: £17,113,485).

DIRECTORS

The Directors who served during the year were:

Yan Zhang 
Phyllis Siwah Liu 

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Supplier and customer engagement, including procurement, relationship management, and feedback mechanisms, are governed by comprehensive policies and procedures established at group level. These group-wide policies are designed to ensure consistency, compliance with applicable laws and regulations, and adherence to ethical standards across all subsidiaries. The Company adheres strictly to these policies. 

The Company operates as a wholly owned subsidiary of Rubrik International Inc. Its ultimate parent company, Rubrik Inc, based in the United States, is the Company’s sole customer. All sales and operational transactions with the ultimate parent are conducted under approved transfer pricing arrangements and established contractual terms. The Company does not engage with external customers. Similarly, the majority of the suppliers providing goods and services are chosen in accordance with group-wide supplier policies.

QUALIFYING THIRD-PARTY INDEMNITY PROVISIONS

The Company has granted an indemnity to one or more of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in section 234 of the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the Directors' Report.

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY ACTION

The Company has disclosed information in respect of greenhouse gas emissions and energy consumption as its energy consumption in the United Kingdom for the year is more than 40,000kWh. The Company's greenhouse gas emissions and energy consumption are as follows:


MTCO2e
MwH

Combustion of natural gas (scope 1)
12.9
70.5

Electricity purchased for own use (scope 2)
14.5
82.0

Total (scope 1 and 2)
27.4
152.5

The Company's energy consumption calculations are based on Greenhouse Gas (GHG) Protocol Accounting and Reporting Standard.

The emission intensity (scope 1 and 2) - MT CO2e/Revenue £m is 0.5.


MATTERS COVERED IN THE STRATEGIC REPORT

The Company has included mandatory Directors’ Report disclosures within the Strategic Report as they are considered by the Directors to be of strategic importance, as permitted by the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013.

Page 3


RUBRIK UK LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end. 

AUDITORS

The directors will consider the appointment of auditors for the next financial year in accordance with the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 






Yan Zhang
Director

Date: 23 October 2026

C/O Citco London Limited
7 Albemarle Street
Mayfair
London
United Kingdom
W1S 4HQ

Page 4


RUBRIK UK LIMITED

 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2026

The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5


RUBRIK UK LIMITED

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBRIK UK LIMITED
OPINION


We have audited the financial statements of Rubrik UK Limited (the 'Company') for the year ended 31 January 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


∙give a true and fair view of the state of the Company's affairs as at 31 January 2026 and of its profit for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 6


RUBRIK UK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBRIK UK LIMITED (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' responsibilities statement set out on page 5, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 7


RUBRIK UK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBRIK UK LIMITED (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
 
∙We have considered the nature of the industry and sector, control environment and business performance.
∙We have considered the results of our enquiries of management, including the Directors, about their own identification and assessment of the risk of irregularities.
∙For any matters identified we have obtained and reviewed the Company’s documentation of their policies and procedures relating to: 
°Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°Detecting and responding to the risk of fraud and whether they have knowledge of actual, suspected, or alleged fraud; and,
°The internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations.
∙We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
 
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, and incorrect recognition of revenue was identified as the greatest potential area for fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included health and safety.

Audit response to risks identified:
We identified recognition of revenue as a key audit matter related to the potential risk of fraud, our procedures to respond to risks identified included the following:

∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Enquiring of management concerning actual and potential litigation claims;
∙Performing various substantive tests of detail related to the recognition of revenue;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
Page 8


RUBRIK UK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBRIK UK LIMITED (CONTINUED)

of material misstatement or fraud; and, 
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


USE OF OUR REPORT
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.






Matthew Haskell ACA (Senior statutory auditor)
for and on behalf of
Bishop Fleming Audit Limited
Chartered Accountants
Statutory Auditors
10 Temple Back
Bristol
BS1 6FL

28 October 2026
Page 9


RUBRIK UK LIMITED

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2026

2026
2025
Note
£
£

  

Turnover
 4 
58,201,337
58,765,456

GROSS PROFIT
  
58,201,337
58,765,456

Operating expenses
  
(48,094,216)
(36,753,184)

Administrative expenses
  
(8,778,626)
(6,009,350)

Other operating income
  
-
6,335

OPERATING PROFIT
 5 
1,328,495
16,009,257

Interest receivable and similar income
  
24,753
44

PROFIT BEFORE TAX
  
1,353,248
16,009,301

Tax on profit/(loss)
 9 
(1,075,813)
1,104,184

PROFIT FOR THE FINANCIAL YEAR
  
277,435
17,113,485

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of comprehensive income.

The notes on pages 13 to 25 form part of these financial statements.

Page 10


RUBRIK UK LIMITED
REGISTERED NUMBER:11375501

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2026

2026
2025
Note
£
£

FIXED ASSETS
  

Tangible assets
 11 
343,833
321,661

  
343,833
321,661

CURRENT ASSETS
  

Debtors
 12 
41,823,842
30,724,036

Cash at bank and in hand
 13 
5,430,935
4,152,832

  
47,254,777
34,876,868

Creditors: amounts falling due within one year
 14 
(11,850,750)
(7,949,162)

NET CURRENT ASSETS
  
 
 
35,404,027
 
 
26,927,706

TOTAL ASSETS LESS CURRENT LIABILITIES
  
35,747,860
27,249,367

  

NET ASSETS
  
35,747,860
27,249,367


CAPITAL AND RESERVES
  

Called up share capital 
 15 
1
1

Profit and loss account
 16 
35,747,859
27,249,366

  
35,747,860
27,249,367


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2026.




Yan Zhang
Director

The notes on pages 13 to 25 form part of these financial statements.

Page 11


RUBRIK UK LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2026


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2024
1
4,298,499
4,298,500


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
17,113,485
17,113,485

Share based payment charge
-
5,837,382
5,837,382



At 1 February 2025
1
27,249,366
27,249,367


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
277,435
277,435

Share based payment charge
-
8,221,058
8,221,058


AT 31 JANUARY 2026
1
35,747,859
35,747,860


The notes on pages 13 to 25 form part of these financial statements.
Page 12


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

1.


GENERAL INFORMATION

Rubrik UK Limited (the "Company") is a private company limited by shares, incorporated and domiciled in England and Wales under the Companies Act 2006. The address of the registered office is given on the Company Information page at the beginning of these financial statements.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Rubrik Inc as at 31 January 2026 and these financial statements may be obtained from United States Securities and Exchange Commission, Washington, D.C. 20549.

 
2.3

GOING CONCERN

The Company made a profit before tax during the year of £1,353,248 (2025 - £16,009,301), with net current assets of £35,404,027 (2025 - £26,927,706) and net assets of £35,747,860 (2025 - £27,249,367).

Based on forecasts for the next twelve months, the Directors have concluded that the Company will be able to pay its debts as they fall due and possesses adequate resources to continue in operational existence for the foreseeable future.

Furthermore, Rubrik, Inc., the ultimate parent undertaking, has undertaken to provide such financial assistance as is necessary for a period of at least twelve months from the date of approval of these financial statements to ensure that the Company is able to meet its liabilities as they fall due.

On the basis of this review, the Directors deem it appropriate to prepare the financial statements on a going concern basis.

  
2.4

TURNOVER

Turnover represents amounts receivable for services from its ultimate parent company and relates to services provided in the UK. Turnover is calculated based on a mark up of certain costs incurred by Rubrik UK Limited.

Page 13


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

All foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

 
2.6

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

  
2.7

INTEREST INCOME

Interest income is recognised in the profit or loss using the effective interest method. 

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

SHARE-BASED PAYMENTS

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Page 14


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
Shorter of useful life of leasehold improvements or remaining lease term
Fixtures and fittings
-
5 years
Office equipment
-
3 years
Other fixed assets
-
Construction in progress not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 15


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

CASH AND CASH EQUIVALENTS

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.



3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, the directors are required to make judgements estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


4.


TURNOVER

The whole turnover of £58,201,337 (2025 - £58,765,456) is attributable to amounts receivable for services from its ultimate parent company and relates to services provided in the UK. Turnover is calculated based on a mark up of certain costs incurred by Rubrik UK Limited.

All turnover arose within the United Kingdom.

Page 16


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

5.


OPERATING PROFIT

The operating profit is stated after charging:

2026
2025
£
£

Exchange differences
5,246
1,651

Other operating lease rentals
588,000
442,473

Depreciation charge
(197,349)
(135,378)


6.


AUDITORS' REMUNERATION

During the year, the Company obtained the following services from the Company's auditors:


2026
2025
£
£

Fees payable to the Company's auditor and its associates for the audit of the Company's Annual Financial Statements
25,750
24,675

Fees payable to the company's auditor and its associates in respect of:

All other services
2,725
2,625


7.


EMPLOYEES

Staff costs were as follows:


2026
2025
£
£

Wages and salaries
42,106,530
32,222,072

Social security costs
5,126,866
3,764,309

Cost of defined contribution scheme
612,401
522,243

47,845,797
36,508,624


The average monthly number of employees, including the Directors, during the year was as follows:


        2026
        2025
            No.
            No.







Sales & Marketing
146
122



Customer Support
2
2



Others
10
8

158
132

Page 17


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

8.


DIRECTORS' REMUNERATION



The Directors are not employed by Rubrik UK Limited and do not receive any remuneration directly from the Company.


9.


TAXATION


2026
2025
£
£

CORPORATION TAX


Current tax on profits for the year
-
19,412


-
19,412


TOTAL CURRENT TAX
-
19,412

DEFERRED TAX


Origination and reversal of timing differences
1,075,813
(1,123,596)

TOTAL DEFERRED TAX
1,075,813
(1,123,596)


1,075,813
(1,104,184)
Page 18


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
 
9.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2025: lower than) the standard rate of corporation tax in the UK of 25% (2025: 25%). The differences are explained below:

2026
2025
£
£


Profit on ordinary activities before tax
1,353,248
16,009,301


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025: 25%)
338,312
4,002,325

EFFECTS OF:


Expenses not deductible, including the shared-based payment charge
2,103,939
1,567,988

Fixed asset difference
(2,692)
(36,890)

Hybrid and other mismatches adjustment
2,261,451
-

Tax deduction on exercise of employee share awards
(4,696,616)
(6,623,475)

Other differences
(4,394)
(14,132)

Drecognition of deferred tax asset
1,075,813
-

TOTAL TAX CHARGE FOR THE YEAR
1,075,813
(1,104,184)

A deferred tax asset of £2,261,515 (2025: £Nil) in respect of unused tax losses and other timing differences has not been recognised. Under the UK hybrid and other mismatches rules and the statutory deductions available on employee share awards, it is not probable that sufficient taxable profits will be available in the foreseeable future against which the asset could be utilised. The deferred tax asset of £1,075,814 recognised at 31 January 2025 has been derecognised in the year. This change in accounting estimate has been accounted for prospectively. Unused tax losses are available to carry forward against future taxable profits, subject to the UK loss restriction rules.


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 19


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

10.


DEFERRED TAXATION




2026


£






At the beginning of the year
1,075,814


Charged to profit or loss
(1,075,814)



AT END OF YEAR
-

The deferred tax asset is made up as follows:

2026
2025
£
£


Origination and reversal of timing differences
-
(48,311)

Tax losses carried forward
-
1,121,324

Pension surplus
-
2,801

-
1,075,814


11.


TANGIBLE FIXED ASSETS


Leasehold improvements
Fixtures and fittings
Office equipment
Construction in progress
Total

£
£
£
£
£



COST


At 1 February 2025
13,500
18,278
626,171
3,080
661,029


Additions
30,516
7,950
184,135
-
222,601


Disposals
-
-
-
(3,080)
(3,080)



At 31 January 2026

44,016
26,228
810,306
-
880,550



DEPRECIATION


At 1 February 2025
1,858
9,746
327,764
-
339,368


Charge for the year
15,989
3,454
177,906
-
197,349



At 31 January 2026

17,847
13,200
505,670
-
536,717



NET BOOK VALUE



At 31 January 2026
26,169
13,028
304,636
-
343,833



At 31 January 2025
11,642
8,532
298,407
3,080
321,661

Page 20


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

12.


DEBTORS

2026
2025
£
£

DUE MORE THAN ONE YEAR

Other debtors
124,079
110,685

124,079
110,685

DUE WITHIN ONE YEAR

Amounts owed by group undertakings
37,698,698
25,917,445

Other debtors
3,163,730
3,203,761

Prepayments and accrued income
837,335
416,331

Deferred taxation
-
1,075,814

41,823,842
30,724,036



13.


CASH AND CASH EQUIVALENTS

2026
2025
£
£

Cash at bank
5,430,935
4,152,832

5,430,935
4,152,832



14.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026
2025
£
£

Trade creditors
246,498
140,862

Amounts owed to group undertakings
-
24,439

Other taxation and social security
4,847,294
3,718,459

Other creditors
596,891
492,719

Accruals
6,160,067
3,572,683

11,850,750
7,949,162


Amounts owed to group undertakings are interest free and repayable on demand. 

Other creditors includes ESPP payable and T&E Expenses.

Page 21


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

15.


SHARE CAPITAL

2026
2025
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2025: 1) Ordinary share of £1.00
1
1



16.


RESERVES

Profit and loss account

The profit and loss account represents cumulative profits, losses and total other comprehensive income made by the Company, including capital contributions in respect of the share based payment charge, and distributions to the Company's shareholders. 

Page 22


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

17.


SHARE-BASED PAYMENTS




Rubrik, Inc. completed its initial public offering (IPO) on 25 April 2024 and issued equity awarded restricted stock units (RSUs) and non-qualified stock options (NQs) with performance conditions to employees. Following the IPO, vesting of the awards is contingent on the satisfaction of service conditions. The awards carry a contractual term of four years. No modifications have been made to the terms of the share options during the year.  The Company measures and recognises compensation expense for all RSUs and NQs based on the market value of the award on the grant date.

Restricted stock units

Rubrik, Inc. has opening outstanding RSUs of 684,457 and issued 303,560 RSUs during the year, of which 67,038 RSUs were forfeited by the employees. A total of 283,949 RSUs were released to employees. 637,030 RSUs remained outstanding at 31 January 2026.  Compensation expense is recognised on a straight-line basis over the vesting period.  The vesting period for the Company's awards is four years. 

The number and weighted average exercised price of share options during the year are as follows:

Weighted average exercise price (pence)
2026
Number
2026
Weighted average exercise price
(pence)
2025
Number
2025

Outstanding at the beginning of the year

27.41

684,457

14.78
 
1,086,632
 
Granted during the year

54.16

303,560

33.82
 
493,641
 
Forfeited during the year

36.62

(67,038)

18.26
 
(134,527)
 
Released during the period

24.88

(283,949)

28.57
 
(761,289)
 
OUTSTANDING AT THE END OF THE YEAR
41.04

637,030

27.41
 
684,457
 



Page 23


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

17.SHARE-BASED PAYMENTS (CONTINUED)

Non-qualified stock options (NQ)

Rubrik, Inc. has an opening outstanding NQs of 2,500, of which Nil NQs were forfeited and and Nil NQs exercised during the year and 2,500 NQs remained outstanding at 31 January 2026. Compensation expense is recognised on a straight-line basis over the vesting period. The vesting period for the Company's awards is four years. 2,500 NQs remained exercisable as at 31 January 2026.  

Weighted average exercise price (pence)
2026
Weighted average exercise price (pence) 2025

Outstanding at the beginning of the year


0.6

0.6
 
Exercisable at the end of the year


0.6

0.6
 
Outstanding at the end of the year


0.6

0.6
 

The weighted average remaining contractual life for the awards outstanding at the end of the year is approximately 2.31 years.



18.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £612,401 (2025: £522,243). Contributions totalling £134,814 (2025: £105,740) were payable to the fund at the reporting date and are included in creditors. 


19.


COMMITMENTS UNDER OPERATING LEASES

At 31 January 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2026
2025
£
£


Not later than 1 year
588,000
588,000

Later than 1 year and not later than 5 years
343,000
931,000

931,000
1,519,000


20.


RELATED PARTY TRANSACTIONS

During the period, sales of £58,201,337 (2025: £58,765,456) were made to Rubrik Inc. At the year end balances owed from Rubrik Inc totalled £37,698,698 (2025: £25,917,445).

Page 24


RUBRIK UK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

21.


POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end. 


22.


CONTROLLING PARTY

The Company is a 100% subsidiary of Rubrik International Inc. The ultimate parent undertaking is Rubrik Inc. There is no ultimate controlling party.

Rubrik Inc. heads the smallest and largest groups in which the results of the Company are consolidated. The registered office of Rubrik Inc. is 3495 Deer Creek Road, Palo Alto, California, 94304.
Page 25