Author: Max Smith
hapa bapaRubric (New York Stock Exchange:RBRK) was the first major software IPO of the year, and the listing was a huge success, with the stock up 15% at the close of trading. I break down the financial results and explain the confusing difference between revenue and ARR growth.company is not yet profitable, but expects solid returns in the long term. Post-IPO, the company should have plenty of net cash on its balance sheet, but we note that operating cash burn is already quite modest. It's unclear exactly how much sales growth will slow going forward, but the current valuation still…
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Rubrik (NYSE: RBRK), a cybersecurity company specializing in data management and cyber recovery, went public on Thursday, marking a potential turning point for the technology IPO market.The Microsoft-backed company priced its initial public offering at $32 per share, but its shares rose 20% to $38.60 per share upon its debut. Rubrik will sell 23.5 million shares of Class A common stock during the IPO.Rubrik co-founder and CTO Arvind “Nitro” Nithrakashyap told SC Media that the company built its platform, Rubrik Security Cloud, with a mission to “secure the world's data.” Over its 10-year history, the platform has evolved to support…
Net income: The reported value was $8.6 million, lower than the estimated $9.13 million.Earnings per share (EPS): The price was $1.04, lower than the expected $1.12.Revenue: The total amount was $36.28 million, slightly below the estimate of $37.58 million.Loan growth: Loans totaled $60.6 million, up 8.5% annually, demonstrating strong growth across products and geographies.Increase in core deposits: Average core deposits increased to a record $2.346 billion, reflecting an annualized increase of 17.6% sequentially.Net interest margin: It decreased to 3.58%, reflecting the ongoing industry-wide compression.Tangible book value: It grew at an annualized rate of 12.9%, demonstrating strong revenue generation and effective…
Charleston, West Virginia — Officials are saying goodbye to a part of the city of Charleston's past and looking to the future as it moves further into the $40 billion industry of sports tourism. Demolition of the former Macy's store at Charleston Town Center Mall has officially begun to make way for the future Capital Sports Center. The people behind the effort, city officials and the Kanawha County Commission held a press conference Thursday afternoon to discuss next steps and the construction process that will soon begin on the $80 million effort. U.S. Sen. Joe Manchin also attended the event.…
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Written by Greg Bensinger and Akash Sriram(Reuters) – Alphabet announced its first-ever dividend and $70 billion in stock buybacks on Thursday, delighting investors whose stock price soared nearly 16% after the bell.Google's parent company is giving back capital while spending billions on data centers to catch up with rivals in generative artificial intelligence. The dividend will be 20 cents per share.Just three months ago, Alphabet's Big Tech rival Meta Platforms announced its first-ever dividend, boosting the social media company's stock market value by $196 billion the next day. Amazon.com is the lone holdout among big tech companies that don't pay…
Henrico Sports & Event Center and surrounding area. (Photo: Henrico County Facebook) HENRICO COUNTY, Va. (WRIC) — Henrico County officials announced progress on a number of mixed-use developments planned for the Virginia Center Commons area in support. Henrico Sports and Event Center. On Thursday, April 25, Henrico County and other officials, including the Henrico Economic Development Authority and the Henrico Sports and Entertainment Authority, shared an update on redevelopment at the Virginia Center Commons mall site. Fairfield District Supervisor Roscoe Cooper said the county plans to add two hotels and two restaurants to the Virginia Center Commons area to complement…
April 25, 2024Welcome to St. John's University US Senator Kirsten Gillibrand Go on an innovative tour Sanford Family Cybersecurity Lab in queens new york, Campus and wide-ranging discussions about cybersecurity issues and career opportunities for students.“St. He spoke at a gathering of Pastor Brian J. Shanley, OPpresident; Dr. Simon G. Moller, President and Vice President for Academic Affairs.and Luka JandriPh.D., Dean; Leslie H. and William L. Collins Graduate School of Professional Studies.During her visit, Senator Gillibrand told St. John's University students: Cyber Service Academy Scholarship program. It gives students free college tuition in return for serving as government employees. Department…
A video from the Russian hacker group that claimed responsibility for last week's cyberattack on Indiana's Tipton West sewage treatment plant was released on social media Thursday. This is evidence of the latest cyberattack by nation-state cybercriminals targeting water utilities in small towns across the United States. Last Saturday, the Russian People's Cyber Army took responsibility for the incident on the messaging app Telegram. The message accompanying the video read: Today we'll be looking at Indiana. Consider efforts at municipal water treatment facilities. Enjoy watching, friends. ” The group also claimed responsibility for one incident. January cyber attack A tank…