Overview
- Okta reported fiscal Q2 results in late August with $805 million in revenue and $1.05 adjusted EPS, both above Wall Street estimates.
- Management raised full‑year fiscal 2027 guidance for revenue and adjusted EPS after record non‑Q4 bookings and a roughly 14% increase in current remaining performance obligations (cRPO), a forward-looking subscription backlog metric.
- New products, led by Okta for AI Agents, made up about 30% of bookings and deals that included a new product had roughly 40% higher average contract value, driving larger deal sizes and cross‑sells.
- Okta completed several small, complementary acquisitions this quarter — including Permiso Security, Spera and Promeso — and secured DoD Impact Level 5 authorization to expand detection and post‑authentication risk capabilities.
- Investors and analysts pushed the stock to multi‑year highs and raised price targets after the report while insiders continued planned 10b5‑1 sales and valuation multiples are now elevated, raising longer‑term risk considerations.