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Okta (OKTA) Reports Q3 Earnings: What Key Metrics Have to Say
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Okta (OKTA - Free Report) reported $665 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 13.9%. EPS of $0.67 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of +2.40% over the Zacks Consensus Estimate of $649.42 million. With the consensus EPS estimate being $0.57, the EPS surprise was +17.54%.
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:
Remaining performance obligations: $3.66 billion versus the five-analyst average estimate of $3.51 billion.
Current remaining performance obligations (cRPO): $2.06 billion compared to the $1.99 billion average estimate based on five analysts.
Total Customers: 19,450 versus the three-analyst average estimate of 19,608.
TTM Dollar Based Net Retention Rate: 108% compared to the 110% average estimate based on two analysts.
Revenue- Subscription: $651 million versus $634.95 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
Revenue- Professional services and other: $14 million compared to the $14.26 million average estimate based on 10 analysts. The reported number represents a change of -6.7% year over year.
Shares of Okta have returned +10.4% over the past month versus the Zacks S&P 500 composite's +5.8% 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 Q3 Earnings: What Key Metrics Have to Say
Okta (OKTA - Free Report) reported $665 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 13.9%. EPS of $0.67 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of +2.40% over the Zacks Consensus Estimate of $649.42 million. With the consensus EPS estimate being $0.57, the EPS surprise was +17.54%.
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:
- Remaining performance obligations: $3.66 billion versus the five-analyst average estimate of $3.51 billion.
- Current remaining performance obligations (cRPO): $2.06 billion compared to the $1.99 billion average estimate based on five analysts.
- Total Customers: 19,450 versus the three-analyst average estimate of 19,608.
- TTM Dollar Based Net Retention Rate: 108% compared to the 110% average estimate based on two analysts.
- Revenue- Subscription: $651 million versus $634.95 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
- Revenue- Professional services and other: $14 million compared to the $14.26 million average estimate based on 10 analysts. The reported number represents a change of -6.7% year over year.
View all Key Company Metrics for Okta here>>>Shares of Okta have returned +10.4% over the past month versus the Zacks S&P 500 composite's +5.8% 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.