Okta's second quarter 2027 revenue of $805M and 14% cRPO growth both beat estimates

Okta reported strong second quarter fiscal 2027 results, surpassing expectations on headline figures and backlog metrics. Subscription revenue grew 12% year-over-year, while non-GAAP operating margins held steady as the company leverages core identity workforce momentum and new product contributions.

Key Highlights

• Total revenue reached $805 million, an 11% increase year-over-year, beating the analyst consensus of $793 million.
• Current remaining performance obligations (cRPO) grew 14% to $2.585 billion, notably exceeding the guided 11% growth rate.
• Non-GAAP diluted EPS of $1.05 outperformed the $0.97 estimate, supported by a $227 million free cash flow generation for the quarter.