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How Okta (OKTA) makes money

Okta (OKTA) made $805M of revenue in the second quarter fiscal 2027 (Q2 FY27), +11% from a year earlier. Subscription brought in $793M (99%); Professional services and other brought in $12.0M (1%). Of every dollar of revenue, 80¢ was left as gross profit, 13¢ was left as operating profit, 14¢ was left as net earnings.

Drawing the Sankey…

Okta revenue by segment, Q2 FY27Okta revenue by segment, Q2 FY27Subscription$793MProfessional services and other$12.0M
Okta: revenue by line, Q4 FY25 to Q2 FY27Okta: revenue by line, Q4 FY25 to Q2 FY27SubscriptionProfessional services…Subscription: $793M latest$793MProfessional services and other: $12.0M latestQ4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
The mix barely moved between Q4 FY25 and Q2 FY27.
Okta revenue by quarterOkta revenue by quarter$682MQ4 FY25$688MQ1 FY26$728MQ2 FY26$742MQ3 FY26$761MQ4 FY26$765MQ1 FY27$805MQ2 FY27
Okta: where each dollar of revenue goesOkta: where each dollar of revenue goesCost of revenue20¢Gross profit80¢Operating expenses66¢Operating profit13¢Income tax1¢Net earnings14¢Operating cash flow29¢Free cash flow28¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Subscription$793M98.5%+6%+12%
Professional services and other$12.0M1.5%-20%-29%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$805M100.0%
Cost of revenue$164M20.4%
Gross profit$641M79.6%
Operating expenses$534M66.3%
Operating profit$107M13.3%
Income tax$10.0M1.2%
Net earnings$116M14.4%
Operating cash flow$234M29.1%
Free cash flow$227M28.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$805M+11%
Q1 FY27$765M+11%
Q4 FY26$761M+12%
Q3 FY26$742M+12%
Q2 FY26$728M+13%
Q1 FY26$688M+12%
Q4 FY25$682M+13%

From Okta's 10-Q filed Aug 27, 2026 (on EDGAR).

Questions

How does Okta make money?

Okta (OKTA) made $805M of revenue in the second quarter fiscal 2027 (Q2 FY27), +11% from a year earlier. Subscription brought in $793M (99%); Professional services and other brought in $12.0M (1%). Of every dollar of revenue, 80¢ was left as gross profit, 13¢ was left as operating profit, 14¢ was left as net earnings.

What is Okta's biggest business?

Subscription: $793M in the second quarter fiscal 2027, 99% of revenue, +12% from a year earlier.

What is Okta's profit margin?

Net earnings were $116M, 14.4% of revenue, in the second quarter fiscal 2027; the operating margin was 13.3%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.