For the quarter ended October 2023, Okta (OKTA - Free Report) reported revenue of $584 million, up 21.4% over the same period last year. EPS came in at $0.44, compared to $0.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $559.76 million, representing a surprise of +4.33%. The company delivered an EPS surprise of +46.67%, with the consensus EPS estimate being $0.30.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Okta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross margin- Subscription: 78% versus the 10-analyst average estimate of 81.4%.
- Gross margin- Professional services and other: -25% compared to the -8.2% average estimate based on nine analysts.
- Remaining performance obligations: $3.07 billion versus $3.10 billion estimated by seven analysts on average.
- Current remaining performance obligations (cRPO): $1.83 billion compared to the $1.78 billion average estimate based on six analysts.
- Total Customers: 18,800 versus the four-analyst average estimate of 18,778.
- TTM Dollar Based Net Retention Rate: 115% versus the two-analyst average estimate of 113.5%.
- Revenue- Subscription: $569 million compared to the $544.99 million average estimate based on 12 analysts. The reported number represents a change of +22.1% year over year.
- Revenue- Professional services and other: $15 million compared to the $14.33 million average estimate based on 12 analysts. The reported number represents a change of -1.2% year over year.
View all Key Company Metrics for Okta here>>>Shares of Okta have returned +5.4% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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For the quarter ended October 2023, Okta (OKTA - Free Report) reported revenue of $584 million, up 21.4% over the same period last year. EPS came in at $0.44, compared to $0.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $559.76 million, representing a surprise of +4.33%. The company delivered an EPS surprise of +46.67%, with the consensus EPS estimate being $0.30.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Okta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross margin- Subscription: 78% versus the 10-analyst average estimate of 81.4%.
- Gross margin- Professional services and other: -25% compared to the -8.2% average estimate based on nine analysts.
- Remaining performance obligations: $3.07 billion versus $3.10 billion estimated by seven analysts on average.
- Current remaining performance obligations (cRPO): $1.83 billion compared to the $1.78 billion average estimate based on six analysts.
- Total Customers: 18,800 versus the four-analyst average estimate of 18,778.
- TTM Dollar Based Net Retention Rate: 115% versus the two-analyst average estimate of 113.5%.
- Revenue- Subscription: $569 million compared to the $544.99 million average estimate based on 12 analysts. The reported number represents a change of +22.1% year over year.
- Revenue- Professional services and other: $15 million compared to the $14.33 million average estimate based on 12 analysts. The reported number represents a change of -1.2% year over year.
View all Key Company Metrics for Okta here>>>Shares of Okta have returned +5.4% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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