Okta Q2 2022 Earnings Report
Key Takeaways
Okta's Q2 revenue grew 57% year-over-year, with subscription revenue growing 59% year-over-year. Remaining performance obligations (RPO) grew 57% year-over-year to $2.24 billion.
Total revenue was $316 million, an increase of 57% year-over-year.
Subscription revenue was $303 million, an increase of 59% year-over-year.
Remaining Performance Obligations (RPO) was $2.24 billion, an increase of 57% year-over-year.
GAAP operating loss was $263 million, or 83% of total revenue, compared to a GAAP operating loss of $45 million in the second quarter of fiscal 2021.
Okta
Okta
Okta Revenue by Segment
Forward Guidance
For the third quarter of fiscal 2022, the Company expects: •Total revenue of $325 million to $327 million, representing a growth rate of 50% year-over-year; •Non-GAAP operating loss of $35 million to $34 million; and •Non-GAAP net loss per share of $0.25 to $0.24, assuming weighted-average shares outstanding of approximately 153 million.
Positive Outlook
- Total revenue of $325 million to $327 million, representing a growth rate of 50% year-over-year
- Full year revenue of $1.243 billion to $1.250 billion, representing a growth rate of 49% to 50% year-over-year
Challenges Ahead
- Non-GAAP operating loss of $35 million to $34 million
- Non-GAAP net loss per share of $0.25 to $0.24, assuming weighted-average shares outstanding of approximately 153 million.
- Non-GAAP operating loss of $119 million to $114 million for the full year
- Non-GAAP net loss per share of $0.77 to $0.74 for the full year, assuming weighted-average shares outstanding of approximately 147 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income