Okta Inc.
Okta Reports Strong Second Quarter Fiscal 2025 Results
Summary
Okta, Inc. reported significant financial improvements for the second quarter of fiscal 2025, ending July 31, 2024. The company achieved a 16% year-over-year revenue growth, reaching $646 million, with subscription revenue growing 17% to $632 million. Current remaining performance obligations (cRPO) grew 13% year-over-year to $1.995 billion. Okta also reported record profitability with GAAP profitability for the first time, generating operating cash flow of $86 million and free cash flow of $78 million. Non-GAAP operating income was $148 million, or 23% of total revenue, compared to $59 million, or 11% of total revenue, in the same period last year. For the third quarter of fiscal 2025, Okta expects total revenue of $648 million to $650 million, representing a growth rate of 11% year-over-year. Current RPO is expected to be $1.985 billion to $1.990 billion, representing a growth rate of 9% year-over-year. Non-GAAP operating income is expected to be $118 million to $120 million, yielding a non-GAAP operating margin of 18%.
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About Okta Inc.
Okta Inc. is a leading provider of identity and access management solutions, enabling organizations to securely connect the right people to the right technologies at the right time. Founded in 2009, Okta serves a wide range of industries including healthcare, financial services, technology, and government, providing seamless and secure interactions between users and their increasingly complex IT environments. One of Okta's core offerings is its cloud-based platform, which helps manage and secure user authentication and access across applications, integrating with numerous enterprise systems and services. The platform's versatility supports single sign-on, multi-factor authentication, and API security, enhancing productivity and security simultaneously. Based in San Francisco, California, Okta plays a significant role in the growing cybersecurity and tech ecosystem by addressing the critical need for robust identity management solutions in a digitally evolving world. Its innovative products and services meet the demands of digital transformation, offering organizations the ability to optimize workforce efficiency while ensuring rigorous security measures.
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