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Jul 31, 2022
Okta Q2 2023 Earnings Report
Reported revenue growth of 43% year-over-year and subscription revenue growth of 44% year-over-year.
Key Takeaways
Okta's Q2 2023 earnings report showed strong revenue growth with total revenue increasing by 43% year-over-year. The company is focusing on refining its go-to-market strategy and improving profitability.
Total revenue was $452 million, an increase of 43% year-over-year.
Subscription revenue was $435 million, an increase of 44% year-over-year.
RPO was $2.79 billion, an increase of 25% year-over-year.
cRPO was $1.50 billion, up 36% compared to the second quarter of fiscal 2022.
Okta
Okta
Okta Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProf. Services & Other Revenue
CapyFin.com Forward Guidance
For the third quarter of fiscal 2023, Okta expects total revenue of $463 million to $465 million, representing a growth rate of 32% to 33% year-over-year.
Positive Outlook
- Total revenue of $463 million to $465 million, representing a growth rate of 32% to 33% year-over-year
- Current RPO of $1.54 billion to $1.55 billion, representing a growth rate of 30% to 31% year-over-year
Challenges Ahead
- Non-GAAP operating loss of $37 million to $36 million
- Non-GAAP net loss per share of $0.25 to $0.24, assuming weighted-average shares outstanding of approximately 158 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income