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Okta (OKTA) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended July 2023, Okta (OKTA - Free Report) reported revenue of $556 million, up 23.1% over the same period last year. EPS came in at $0.31, compared to -$0.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $534.06 million, representing a surprise of +4.11%. The company delivered an EPS surprise of +47.62%, with the consensus EPS estimate being $0.21.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 77% compared to the 80.99% average estimate based on 11 analysts.
Gross margin- Professional services and other: -49% compared to the -3.82% average estimate based on 10 analysts.
Remaining performance obligations: $3.03 billion compared to the $3 billion average estimate based on seven analysts.
Current remaining performance obligations (cRPO): $1.77 billion compared to the $1.71 billion average estimate based on six analysts.
Total Customers: 18400 versus 18481.25 estimated by four analysts on average.
TTM Dollar Based Net Retention Rate: 115% versus 115.5% estimated by two analysts on average.
Revenue- Subscription: $542 million versus the 12-analyst average estimate of $517.91 million. The reported number represents a year-over-year change of +24.5%.
Revenue- Professional services and other: $14 million versus the 12-analyst average estimate of $16.10 million. The reported number represents a year-over-year change of -14.8%.
Shares of Okta have returned +1.7% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Okta (OKTA) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Okta (OKTA - Free Report) reported revenue of $556 million, up 23.1% over the same period last year. EPS came in at $0.31, compared to -$0.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $534.06 million, representing a surprise of +4.11%. The company delivered an EPS surprise of +47.62%, with the consensus EPS estimate being $0.21.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 77% compared to the 80.99% average estimate based on 11 analysts.
- Gross margin- Professional services and other: -49% compared to the -3.82% average estimate based on 10 analysts.
- Remaining performance obligations: $3.03 billion compared to the $3 billion average estimate based on seven analysts.
- Current remaining performance obligations (cRPO): $1.77 billion compared to the $1.71 billion average estimate based on six analysts.
- Total Customers: 18400 versus 18481.25 estimated by four analysts on average.
- TTM Dollar Based Net Retention Rate: 115% versus 115.5% estimated by two analysts on average.
- Revenue- Subscription: $542 million versus the 12-analyst average estimate of $517.91 million. The reported number represents a year-over-year change of +24.5%.
- Revenue- Professional services and other: $14 million versus the 12-analyst average estimate of $16.10 million. The reported number represents a year-over-year change of -14.8%.
View all Key Company Metrics for Okta here>>>Shares of Okta have returned +1.7% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.