Okta Q2 FY27: Revenue Beats, cRPO Accelerates, Full-Year Guidance Raised
OKTA has more than doubled off its 52-week low of $62.66.
Summary
Okta beat Q2 estimates with 11% revenue growth and accelerating cRPO, raised full-year guidance, and settled its remaining convertible notes in cash.
Key Events · Earnings and Guidance · OKTA
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Q2 Revenue and EPS Beat
Total revenue of $805 million grew 11% year-over-year; non-GAAP diluted EPS of $1.05 exceeded the prior-year $0.91.
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cRPO Growth Accelerates
Current remaining performance obligations rose 14% year-over-year to $2.585 billion, an acceleration from recent quarters and a leading indicator of demand.
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Full-Year Guidance Raised
FY27 revenue guidance increased to $3.216–$3.226 billion and non-GAAP diluted EPS to $3.90–$3.94, with free cash flow of $910–$930 million.
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Convertible Notes Settled in Cash
Okta paid $350 million in cash to settle the remaining principal of its 2026 Notes, eliminating that debt from the balance sheet.
Analysis · OKTA · Technology
Okta delivered a strong Q2 with revenue of $805 million, up 11% year-over-year, and non-GAAP diluted EPS of $1.05, both ahead of expectations. The more important signal is cRPO growth accelerating to 14% year-over-year, which points to improving demand momentum. Management also raised full-year revenue guidance to $3.216–$3.226 billion and non-GAAP EPS to $3.90–$3.94, while generating $227 million in free cash flow. The company settled its remaining $350 million of 2026 Notes in cash, removing a debt overhang. The only soft spot is a deliberate shift of professional services work to partners, which trims about one percentage point from revenue growth.
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At the time of this filing, OKTA was trading at $130.21 on NASDAQ in the Technology sector, with a market capitalization of approximately $22.7B. The 52-week trading range was $62.66 to $157.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.