Filing Flows › Okta (OKTA) › Q2 FY27 › vs Q2 FY26
Okta (OKTA) Q2 FY27 vs Q2 FY26 (year over year)
Okta's revenue rose $77.0M (+11%) from $728M in Q2 FY26 to $805M in Q2 FY27. The biggest changes: Subscription +$82.0M (+12%); Professional services and other −$5.0M (-29%). Gross margin 79.6% against 76.9% (+2.7 pts).
Okta, Q2 FY27: revenue $805M (+11% year over year), operating margin 13.3%, net earnings $116M, operating cash flow $234M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 79.6% | 76.9% | +2.7 pts |
| Operating margin | 13.3% | 5.6% | +7.7 pts |
| Net margin | 14.4% | 9.2% | +5.2 pts |
| Free cash flow margin | 28.2% | 22.3% | +5.9 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Subscription | $793M | $711M | $82.0M | +12% |
| Professional services and other | $12.0M | $17.0M | −$5.0M | -29% |
| Revenue | $805M | $728M | $77.0M | +11% |
| Gross profit | $641M | $560M | $81.0M | +14% |
| Cost of revenue | $164M | $168M | −$4.0M | -2% |
| Other income, net | $19.0M | $26.0M | −$7.0M | -27% |
| Operating profit | $107M | $41.0M | $66.0M | +161% |
| Operating expenses | $534M | $519M | $15.0M | +3% |
| Pre-tax earnings | $126M | $67.0M | $59.0M | +88% |
| Research & development | $163M | $160M | $3.0M | +2% |
| Sales & marketing | $273M | $246M | $27.0M | +11% |
| General & admin | $98.0M | $113M | −$15.0M | -13% |
| Net earnings | $116M | $67.0M | $49.0M | +73% |
| Income tax | $10.0M | $0 | $10.0M | — |
| Share-based compensation | $114M | $144M | −$30.0M | -21% |
| Working capital & other | $4.0M | −$44.0M | $48.0M | — |
| Operating cash flow | $234M | $167M | $67.0M | +40% |
| Free cash flow (company-reported) | $227M | $162M | $65.0M | +40% |
| Capitalized software | $6.0M | $3.0M | $3.0M | +100% |
| Purchases of property and equipment | $1.0M | $2.0M | −$1.0M | -50% |
Questions
How much did Okta's revenue grow year over year in Q2 FY27?
Okta's revenue rose $77.0M (+11%) from $728M in Q2 FY26 to $805M in Q2 FY27.
What drove Okta's revenue change in Q2 FY27?
Subscription +$82.0M (+12%); Professional services and other −$5.0M (-29%).