Okta Q2 Fiscal 2027: 11% Revenue Growth and a Larger Contracted Backlog

Okta reported $805 million of revenue for the quarter ended July 31, 2026, up 11% from $728 million. Subscription revenue was $793 million, or roughly 99% of the total, versus $711 million a year earlier. GAAP net income increased to $116 million from $67 million.

Quarter in context

Metric	Q2 fiscal 2026	Q2 fiscal 2027
Total revenue	$728 million	$805 million
Subscription revenue	$711 million	$793 million
GAAP net income	$67 million	$116 million
Diluted EPS	$0.37	$0.65

Remaining performance obligations were $4.858 billion at quarter end. Okta expected to recognize $2.585 billion, or 53%, over the following 12 months. RPO is contracted revenue not yet recognized; it is useful for visibility but is not current-period revenue or cash flow.

What to verify next

The next filing should show whether subscription growth remains near the current rate, whether the contracted backlog converts as expected, and whether improved spending efficiency continues. Share-based awards and capital allocation should also be considered when comparing per-share growth with net-income growth.

The earlier automated article centered on an analyst price target and trading volume. Those items, along with forward valuation multiples, macro overlays, and mechanical trade levels, were removed in favor of filed operating data.

Source

• Okta Q2 fiscal 2027 Form 10-Q

This article is informational and is not investment advice.