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Okta Non-GAAP EPS of $0.00 beats by $0.24, revenue of $481.04M beats by $15.67M

  • Okta press release (NASDAQ:OKTA): Q3 Non-GAAP EPS of $0.00 beats by $0.24.
  • Revenue of $481.04M (+37.2% Y/Y) beats by $15.67M.
  • Remaining performance obligations grew 21% year-over-year to $2.85 billion; current remaining performance obligations grew 34% year-over-year to $1.58 billion.
  • Total calculated billings was $532 million, an increase of 37% year-over-year.
  • Non-GAAP operating income was $0.3 million, or 0.1% of total revenue, compared to non-GAAP operating loss of $10 million.
  • Q4 Outlook: Total revenue of $488 million to $490 million vs. consensus of $488.71M, representing a growth rate of 27% to 28% year-over-year;
  • Current RPO of $1.63 billion to $1.64 billion, representing a growth rate of 21% year-over-year;
  • Non-GAAP operating income of $15 million to $17 million; and
  • Non-GAAP diluted net income per share of $0.09 to $0.10 vs. consensus of -$0.07, assuming diluted weighted-average shares outstanding of approximately 175 million.
  • 2023 Outlook: Total revenue of $1.836 billion to $1.838 billion vs. consensus of $1.82B, representing a growth rate of 41% year-over-year;
  • Non-GAAP operating loss of $41 million to $39 million; and
  • Non-GAAP net loss per share of $0.27 to $0.26 vs. consensus of -$0.73, assuming weighted-average shares outstanding of approximately 158 million
  • Shares +8.78%.