Okta (OKTA) Earnings Date & Reports

Key Takeaways

• Okta is scheduled to report second quarter fiscal 2027 results on Wednesday, August 26, 2026, after the U.S. market close.
• The quarter ended July 31, 2026, reflecting Okta's non-standard fiscal year, which closes on January 31.
• Management has guided to revenue of $790 million to $794 million and non-GAAP earnings per share (EPS) of $0.95 to $0.97.
• Consensus estimates call for revenue of roughly $792 million and non-GAAP EPS near $0.96, near the top of guidance.
• Investors will watch current remaining performance obligations (cRPO), a key forward indicator of contracted future revenue.
• Last year's comparable quarter delivered revenue of $728 million and non-GAAP EPS of $0.91, setting a high bar for year-over-year growth.

Earnings Context and Why It Matters

Okta is a leading independent identity and access management provider, and its quarterly earnings serve as a closely watched barometer for enterprise software demand and security spending. After a period of slowing growth in prior years, the company has refocused on profitability and more efficient execution, making this report important for validating its turnaround. The second quarter of fiscal 2027 will show whether Okta can sustain mid-to-high single-digit revenue growth while expanding margins and free cash flow. For investors, the results offer a read on customer retention, new business momentum, and the broader health of cybersecurity budgets heading into the second half of the fiscal year.

Earnings Expectations

For the second quarter of fiscal 2027, Okta's own guidance calls for revenue between $790 million and $794 million, representing roughly 9% year-over-year growth. The company has guided to non-GAAP operating income of $204 million to $208 million, implying a non-GAAP operating margin of about 26%, and non-GAAP EPS of $0.95 to $0.97. Free cash flow is expected to land between $155 million and $165 million, or a 20% to 21% margin.

Wall Street consensus is largely in line with the top of that range, with analysts projecting revenue near $792 million and non-GAAP EPS of approximately $0.96. A key metric to watch is current remaining performance obligations (cRPO), which management expects to reach $2.505 billion to $2.515 billion, up about 11% year over year. cRPO measures contracted revenue expected to be recognized within the next 12 months and is a leading indicator of near-term demand.

For context, in the same quarter last year, Okta reported revenue of $728 million and non-GAAP EPS of $0.91, beating expectations on both lines. That positive surprise helped drive a modest post-earnings gain, and investors will be looking for a similar beat-and-raise dynamic this time.

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Market Reaction and Investor Sentiment

Sentiment heading into Okta's second quarter fiscal 2027 report is cautiously optimistic. Okta delivered a strong first quarter, and the stock rallied sharply following its May 2026 results, reflecting renewed confidence in the company's execution and profitability story. That positive momentum raises the bar for this report, as investors will expect another beat against guidance, particularly on revenue and cRPO growth.

Key risk factors include any sign of deceleration in new customer acquisition, weaker-than-expected cRPO growth, or softer guidance for the third quarter. Because Okta trades at a premium valuation relative to slower-growing peers, the stock can react sharply to even small deviations from expectations. Investors will also parse management commentary on the macro spending environment and enterprise security budgets, which remain sensitive to broader economic conditions.

Forward Outlook and Key Factors to Monitor

Following this earnings report, investors should focus on the trajectory of cRPO growth, which offers the clearest signal of Okta's near-term revenue momentum. Sustained double-digit growth in cRPO would reinforce confidence in the company's ability to return to stronger expansion, while any deceleration could raise questions about demand durability.

Profitability trends remain equally important. Okta has been expanding its non-GAAP operating margin and free cash flow margin, and continued progress toward its longer-term targets will be closely evaluated. The company's ability to balance growth investments with cost discipline is central to its current investment thesis.

Finally, watch management's guidance for the third quarter of fiscal 2027, which will set expectations for the second half of the year. Commentary on enterprise security spending, competitive dynamics in the identity market, and any shifts in customer retention or expansion rates will help shape the outlook. As always, these observations are informational and do not constitute investment advice.

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