For the three months ended July, Okta incurred an adjusted loss of -$16 million, or -10 cents a share much narrower than the loss of 31 to 32 cents a share it had expected.
The company’s revenue rose +43% year-over-year to $452 million, well above the company’s forecast range of $428 million to $430 million.
Okta had $2.79 billion in remaining performance obligations as of quarter-end, up 25% from a year ago.
For the three months to end in October, Okta expects revenue of $463 million to $465 million, (between +32% and +33%), and an adjusted loss in the range of -24 to -25 cents a share. The Wall Street consensus expectations were $464 million in revenue and a loss of -28 cents a share.
Looking further ahead, Okta now projects revenue of $1.812 billion to $1.820 billion for the January 2023 fiscal year, higher than prior guidance of $1.805 billion to $1.815 billion. It expects non-GAAP loss of 70 to 73 cents a shar, narrower than its previous anticipation of $1.11 to $1.14 a share.