Business
Okta Announces Second Quarter Fiscal Year 2025 Financial Results
Q2 revenue grew 16% year-over-year; subscription revenue grew 17% year-over-year Current remaining performance obligations (cRPO) grew 13% year-over-year to
About this update from Okta, Inc.
[{"type":"text","content":"\n\nQ2 revenue grew 16% year-over-year; subscription revenue grew 17% year-over-year \n\n\n\nCurrent remaining performance obligations (cRPO) grew 13% year-over-year to $1.995 billion\n\n\n\nRecord profitability including GAAP profitability for the first time\n\n\n\nOperating cash flow of $86 million and free cash flow of $78 million\n\n\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOkta, Inc. (Nasdaq: OKTA), the leading independent Identity partner, today announced financial results for its second quarter ended July 31, 2024.\n\n\n“Okta is setting the standard for identity security by focusing on relentless innovation and expanding our product offerings within the Workforce Identity Cloud and Customer Identity Cloud,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “We’re delivering all of this product innovation while achieving record profitability and maintaining strong cash flow. In today's dynamic cybersecurity landscape, identity is security, and Okta is dedicated to providing our customers with modern solutions to meet their evolving needs.”\n\n\nSecond Quarter Fiscal 2025 Financial Highlights:\n\n\n\nRevenue: Total revenue was $646 million, an increase of 16% year-over-year. Subscription revenue was $632 million, an increase of 17% year-over-year.\n\n\n\nRPO: RPO, or subscription backlog, was $3.505 billion, an increase of 16% year-over-year. cRPO, which represents subscription backlog expected to be recognized over the next 12 months, was $1.995 billion, up 13% compared to the second quarter of fiscal 2024.\n\n\n\nGAAP Operating Loss: GAAP operating loss was $19 million, or (3)% of total revenue, compared to a GAAP operating loss of $162 million, or (29)% of total revenue, in the second quarter of fiscal 2024.\n\n\n\nNon-GAAP Operating Income: Non-GAAP operating income was $148 million, or 23% of total revenue, compared to a non-GAAP operating income of $59 million, or 11% of total revenue, in the second quarter of fiscal 2024.\n\n\n\nGAAP Net Income (Loss): GAAP net income was $29 million, compared to a GAAP net loss of $111 million in the second quarter of fiscal 2024. GAAP basic and diluted net income per share were $0.18 and $0.15, respectively, compared to a GAAP basic and diluted net loss per share of $0.68 in the second quarter of fiscal 2024.\n\n\n\nNon-GAAP Net Income: Non-GAAP net income was $131 m...