Techzine once again provides an overview of recently presented quarterly figures. This time, it’s the turn of UiPath, HPE, Rubrik, Salesforce, and Snowflake.
UiPath performed significantly better in the third quarter of fiscal year 2026 (ending October 31) than a year earlier. Revenue rose to $411 million, while the company turned from a small loss to a clear profit.
This profit growth is mainly due to a higher gross margin and tight cost control. Importantly, recurring cloud revenue continues to grow. Agent-based automation and broader use of AI features are attracting new customers. Partnerships with Microsoft, Deloitte, and other cloud players are also helping to drive growth. For the current quarter, UiPath expects further revenue growth and slightly higher margins, but remains cautious about the coming years.
HPE focuses on AI servers and networks
HPE saw total revenue in the fourth quarter of fiscal year 2025 increase by 14 percent to approximately $9.7 billion. This growth is mainly due to the acquisition of networking company Juniper. At the same time, revenue from servers and hybrid cloud declined, following an earlier catch-up in hardware.
The company is emphasizing higher margins, strong demand for AI servers, and a faster-growing network division. HPE is positioning itself emphatically as a network group with related services, rather than a traditional hardware company. In the hybrid cloud, recurring revenue is growing primarily through GreenLake. HPE is now adding deeper integrations with backup and data security partner Veeam.
For the new fiscal year, HPE expects solid revenue growth, but with price increases for servers due to rising memory costs. Meanwhile, the company signed a deal with Veeam and, as usual, made a series of announcements around its own HPE Discover. These included updates on networking (based on the acquired Juniper) and the introduction of AMD-powered Helios racks for ambitious AI deployments.
Read more: HPE expands GreenLake with virtualization, AI, and security
Rubrik benefits from cyber resilience
Rubrik had a particularly strong third quarter of fiscal year 2026. Revenue grew by 48 percent to $350 million, the vast majority of which came from subscriptions. That recurring subscription revenue increased by more than half.
The company returned to profitability on an adjusted basis after previously being loss-making. This is partly because the profit contribution from subscriptions turned from negative to positive. Rubrik is benefiting from growing demand for data security and recovery after cyberattacks. It was able to retain more large customers who spend at least $100,000 annually on subscriptions.
In terms of products, the company made progress with Rubrik Agent Cloud and specific solutions for Okta environments, plus more extensive collaboration with CrowdStrike. For the current quarter and full fiscal year, Rubrik expects continued revenue growth, although it will remain slightly loss-making on a consolidated basis.
Salesforce bets on AI services
Salesforce increased both revenue and profit in the third quarter of fiscal year 2026. Revenue came in at around $10.3 billion, about 9 percent more than a year earlier. Profit grew faster due to tight cost control and economies of scale.
Subscription and support activities account for by far the largest share of revenue and showed double-digit growth. In particular, the new AI services under the Agentforce brand and data products are generating additional recurring revenue. Annual revenue from Agentforce has more than tripled in a year and now exceeds half a billion dollars.
Salesforce is also using this trend to reinforce its long-term goal of $60 billion in revenue by 2030. At the same time, the company acknowledges that some of its more traditional marketing and commerce products are struggling.
Snowflake is growing strongly, but investors are disappointed
Finally, Snowflake once again showed strong growth in the third quarter of fiscal year 2026. Total revenue was around $1.21 billion, of which about $1.16 billion came from its own data and analytics platform. That core revenue grew by nearly 30 percent compared to a year earlier. It remains largely recurring through consumption by existing customers.
The number of large customers spending more than $1 million annually is also increasing. Financially, Snowflake is operating with a healthy gross margin and positive cash flows. Nevertheless, the market reacted negatively because the outlook for the coming quarters shows slightly lower growth rates than investors had expected.
At the same time, Snowflake is investing heavily in AI, including through a multi-year contract with Anthropic and deeper integrations with major cloud platforms. This is increasing costs now, but should yield new data-driven use cases in the long term.