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Okta shares jump 29% after Q2 results and raised guidance

Okta reported Q2 revenue of $805 million, up 10.6%, and posted adjusted EPS of $1.05 above expectations as it lifted its full-year outlook.

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Okta shares surged 29% after the company released Q2 results and updated its guidance, signaling stronger momentum tied to demand for identity security and access management.

According to MarketBeat Ratings, Okta grew Q2 revenue 10.6% to $805 million, about 150 basis points ahead of expectations, with subscriptions up 12%. The company also said its remaining performance obligation increased 17%, while the portion expected to be recognized in the next 12 months rose 14%.

Margin and profitability improved as Okta controlled costs while investing in growth, with adjusted operating margin flat and GAAP margins up. MarketBeat Ratings also noted adjusted EPS of $1.05, which was more than 1,500 basis points higher year over year and about 800 basis points above expectations.

The guidance update was a key catalyst, with management forecasting Q3 revenue above consensus and raising the full-year outlook to include a low-end target for revenue and earnings above forecast, MarketBeat Ratings said.

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