실적분석 Okta ($OKTA) Fiscal 2027 Q2 Earnings Analysis — Revenue and Adjusted EPS Both Beat, Full-Year Outlook Raised
Earnings Scorecard
Revenue: $805M (+11% YoY, vs. $793M est.) ✅ Beat
EPS: Adjusted diluted EPS $1.05 (vs. $0.96 est.) ✅ Beat
Guidance: Raised — FY2027 revenue $3.216B–$3.226B (+10–11% YoY), adjusted diluted EPS $3.90–$3.94
Stock Reaction: After-hours +19.22% ($160.26) — as of 08-27 06:08 KST
Positives
Adjusted EPS beat: Adjusted diluted EPS of $1.05 versus the $0.96 estimate, a sizable beat
Short-term subscription backlog: Current remaining performance obligations (cRPO) of $2.585B, +14% YoY
Cash flow: Free cash flow of $227M, a 28% margin of revenue
Contract expansion with large customers and in its workforce and customer identity core business supported revenue, with contributions from new products such as identity governance adding further. GAAP operating income also rose sharply versus the prior-year period, confirming improving profitability.
Negatives
Revenue growth pace: +11% YoY shows growth continued but remained in the low double digits
Q3 outlook: Revenue $813M–$817M (+10%), implying a deceleration in growth
Professional services handoff: The decision to move services to partners represents roughly a 1 percentage point headwind to full-year revenue growth
Management indicated it is setting guidance prudently. Q3 adjusted operating margin guidance of 24–25% also came in below the prior quarter's 28%.
What Management Said
The CFO highlighted accelerating current RPO, large customer performance, and strong margin and cash flow as the Q2 standouts. The CEO emphasized that every AI agent requires a trusted identity and clear controls, underscoring Okta's role as a neutral identity platform.
Market Reaction and Key Things to Watch
The combination of an earnings beat, raised full-year outlook, and accelerating current RPO drew heavy buying interest after the close.
Whether Q3 revenue and current RPO land within the guided range
How much contribution from new products carries overall growth
The net effect of the professional services partner handoff on subscription growth
Disclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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