Okta, Inc. earnings

Okta reported $805 million of total revenue for the second quarter of fiscal 2027, up 11% from the prior-year quarter. Backlog tells a better story than the headline. RPO reached $4.858 billion, up 17%, and cRPO, the portion of that backlog expected to convert within the next 12 months, was $2.585 billion, up 14%.

Okta's first quarter of fiscal 2027 showed steady top-line growth and wider profitability. Total revenue was $765 million, up 11.2% from the prior-year quarter. Gross profit was $595 million, up 11.6%, and gross margin was 77.8%, up 0.3 percentage points.

Okta closed fiscal 2026 with steady top-line growth and a sharp improvement in GAAP profitability. Fourth-quarter revenue was $761 million, up 11.6% from the prior-year quarter, and full-year revenue was $2.919 billion, up 11.8%.

Okta's fiscal 2026 third quarter revenue rose 12% year over year to $742 million. RPO, the company's subscription backlog, grew 17% to $4.292 billion, while current RPO reached $2.328 billion, up 13%. Current deferred revenue was $1.557 billion, up 10%.

Okta closed FY2026 Q2 with total revenue of $728.0 million, up 12.7% from $646.0 million in the prior-year quarter. Gross profit rose 14.1% to $560.0 million, and gross margin improved to 76.9% from 76.0%, up 0.9 percentage points. RPO ended the quarter at $4.152 billion, up 18.5% year over year.

Okta started fiscal 2026 with GAAP revenue of $688 million, up 11.5% from the prior-year quarter. Gross profit rose to $533 million, up 13.6%, and gross margin reached 77.5%, up 1.5 percentage points. The company swung to a GAAP operating profit of $39 million, up 183% and a sharp reversal from the prior-year loss.

Okta closed fiscal 2025 with a stronger fourth quarter than a year earlier. Revenue for the three months ended January 31, 2025 was $682.0 million, up 12.7%. Gross profit rose 13.9% to $524.0 million, and gross margin improved to 76.8%.

Okta's fiscal 2025 third quarter, ended October 31, 2024, produced total revenue of $665 million, up 13.9% from the prior-year quarter. Year-to-date revenue was $1.93 billion, up 16.3%, with subscription revenue at 98% of the nine-month total.

Okta reported total revenue of $646 million for FY2025 Q2, up 16.2% from the prior-year quarter. GAAP gross profit was $491 million, up 20.6%, and gross margin reached 76.0%, up 2.8 percentage points. The GAAP operating loss was $19 million, up 88.3% from the prior-year quarter as the loss narrowed.

Okta closed FY2025 Q1 with total revenue of $617 million, up 19.1% from $518 million in the prior-year quarter. Gross profit rose 24.7% to $469 million from $376 million. Gross margin expanded to 76.0% from 72.6%, and operating margin improved to negative 7.6% from negative 30.9%.

Okta closed fiscal 2024 with a stronger fourth quarter. Revenue for the quarter ended January 31, 2024, rose 18.6% to $605.0 million. Full year revenue increased 21.8% to $2.26 billion. The quarter's growth was slower than the full year pace. Gross profit for the quarter was $460.0 million, up 24.0%.

Okta's fiscal 2024 third quarter revenue was $584 million, up 21.4% from the prior-year quarter. Gross profit was $439 million, up 28.0%, and gross margin rose 3.9 percentage points to 75.2%.

Okta closed FY2024 Q2 with total revenue of $556 million, up 23.0% year over year. Gross profit was $407 million, up 29.6%, and gross margin reached 73.2%, an improvement of 3.7 percentage points.

Okta reported total revenue of $518 million for FY2024 Q1, up 24.8% year over year. Subscription revenue grew 26% year over year and represented 97% of total revenue. Gross profit was $376 million, and gross margin was 72.6%, up 4.2 percentage points.

Okta's fiscal 2023 fourth quarter total revenue was $510.21 million, up 33.3% from the prior-year quarter. Full-year revenue reached $1.86 billion, up 42.9% from the prior fiscal year. Gross profit in the quarter was $370.72 million, up 40.6%, and gross margin was 72.7%, up 3.8 percentage points.

Okta reported third quarter fiscal 2023 revenue of $481.0 million, up 37.2% from the prior-year quarter. Gross profit was $343.4 million, up 42.5%. Gross margin rose to 71.4% from 68.7%, a 2.7 percentage point improvement.

Okta's second quarter of fiscal 2023 showed strong top-line growth but continued GAAP losses. Revenue was $451.81 million, up 43.2% from the prior-year quarter. Year to date, revenue reached $866.75 million, up 53.0%.

Okta's first quarter of fiscal 2023 showed rapid top-line growth and a much larger loss. Revenue rose 65.3% year over year to $414.9 million. Gross profit increased 53.5% to $283.8 million, but gross margin fell 5.3 percentage points to 68.4%.

Okta ended fiscal 2022 with rapid top-line expansion and a much larger loss base. Fourth quarter revenue rose 63.2% to $383.02 million, and fiscal year revenue rose 55.6% to $1.30 billion. RPO increased 49.9% to $2.69 billion, while current RPO rose 60% to $1.35 billion.

Okta closed FY2022 Q3 with total revenue of $350.68 million, up 61.3% from $217.38 million in FY2021 Q3. The quarter included $46 million of revenue from Auth0, the acquisition that closed on May 3, 2021. Strip that out and Okta standalone revenue grew 40%. Subscription revenue grew 63% year over year.

Okta closed its fiscal 2022 second quarter with revenue of $315.5 million, up 57.4% from the prior-year quarter, according to the reported figures. Gross profit rose 43.6% to $214.4 million. The top line benefited from demand for workforce and customer identity, and from Auth0, which closed on May 3, 2021.

Okta's FY2022 Q1 revenue rose 37.3% year over year to $251.0 million. Gross profit rose 37.6% to $184.9 million, and gross margin was 73.7%, up 0.2 percentage points. The top line grew quickly, but operating loss widened to $90.7 million and net loss widened to $109.2 million.

Okta closed fiscal 2021 with strong top-line growth. Fourth quarter revenue was $234.7 million, up 40.3% from the prior-year quarter. Full-year revenue was $835.4 million, up 42.5%. RPO, or subscription backlog, reached $1.80 billion, up 48.5% from the prior-year quarter.

Okta reported fiscal 2021 third-quarter results on December 2, 2020. Revenue for the quarter ended October 31, 2020 rose 42.0% to $217.38 million from $153.04 million in the prior-year quarter. Year-to-date revenue was $600.68 million, up 43.5%.

Okta posted $200.4 million of revenue in its FY2021 second quarter, up 42.7% from the prior-year quarter. Gross profit was $149.3 million, and gross margin reached 74.5%, up 2.1 percentage points. The GAAP picture is still loss-making.

Okta reported first-quarter fiscal 2021 revenue of $182.9 million, up 46.0% from the prior-year quarter. Subscription revenue was $173.8 million, up 48%, and professional services and other revenue was $9.1 million, up 13%. Remaining performance obligations reached $1.24 billion, up 56.6% year over year.