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Live: Will Rubrik Crush Q1 Earnings Tonight and Continue Its 33% 1-Month Rally?
Okta

OKTA Q1 2027 Earnings

Reported May 28, 2026 at 4:03 PM ET · SEC Source

Q1 27 EPS

$0.91

Q1 27 Revenue

$765.0M

BEAT +1.76%

Est. $751.8M

vs S&P Since Q1 27

+34.2%

BEATING MARKET

OKTA +34.3% vs S&P +0.1%

Market Reaction

Did OKTA Beat Earnings? Q1 2027 Results

Okta, Inc. Delivered a clean beat on both lines in its fiscal first quarter of 2027, extending its EPS consensus beat streak to five consecutive quarters as the identity security company demonstrated durable momentum in a competitive market. Revenue … Read more Okta, Inc. Delivered a clean beat on both lines in its fiscal first quarter of 2027, extending its EPS consensus beat streak to five consecutive quarters as the identity security company demonstrated durable momentum in a competitive market. Revenue rose 11.2% year-over-year to $765.00 million, edging past the $751.79 million consensus estimate by 1.76%, while non-GAAP diluted EPS of $0.91 topped the $0.85 estimate by 6.69%, supported by subscription revenue of $750.00 million that accounted for 98% of the total. The quarter's most compelling signal may have been remaining performance obligations of $4.72 billion, up 16% year-over-year, which management tied directly to go-to-market specialization initiatives driving stronger large enterprise traction. Recent recognition as a leader in a major analyst evaluation of workforce identity platforms adds further credibility to that competitive positioning. Looking ahead, Okta guided Q2 revenue of $790 to $794 million and raised full-year fiscal 2027 revenue guidance to $3.19 to $3.21 billion, reflecting 9-10% growth, with full-year free cash flow expected between $855 and $885 million.

Key Takeaways

  • • Subscription revenue growth of 11% YoY driven by platform adoption
  • • RPO grew 16% YoY to $4.719 billion, indicating strong backlog
  • • cRPO grew 12% YoY to $2.499 billion
  • • Go-to-market specialization driving continued strength with large enterprises and increased sales productivity
  • • Strong free cash flow of $271 million representing 35% margin

OKTA Forward Guidance & Outlook

For Q2 FY27, Okta expects total revenue of $790–$794 million (9% YoY growth), cRPO of $2.505–$2.515 billion (11% YoY growth), non-GAAP operating income of $204–$208 million (26% margin), non-GAAP diluted EPS of $0.95–$0.97, and free cash flow of $155–$165 million (20–21% margin). For full-year FY27, the company now expects total revenue of $3.185–$3.205 billion (9–10% growth), non-GAAP operating income of $806–$826 million (25–26% margin), non-GAAP diluted EPS of $3.79–$3.87, and free cash flow of $855–$885 million (27–28% margin). Revenue guidance reflects approximately one percentage point headwind from accelerating the shift of professional services to partners. Free cash flow guidance reflects approximately one percentage point impact from lower interest income due to share repurchases and intent to settle the remainder of the 2026 convertible notes in cash. The company adopted a lower 21% long-term non-GAAP tax rate (reduced from 26%) primarily due to the enactment of the One Big Beautiful Bill Act.

24/7 Wall St

OKTA YoY Financials

Q1 2027 vs Q1 2026, source: SEC Filings

24/7 Wall St

OKTA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q1 27

“AI agents are rapidly becoming a new workforce inside every organization, creating a wave of identities that must be secured and governed alongside human users. We're expanding our opportunity as the world's leading independent and neutral identity provider and helping customers make identity the unified control plane for their secure agentic enterprise.”

— Todd McKinnon, Q1 2027 Earnings Press Release

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