Okta's (OKTA) Q2 Earnings And Revenues Surpass Estimates
Zacks Investment Research | Aug 28, 2019 10:52PM ET
Okta, Inc. (NASDAQ:OKTA) reported second-quarter fiscal 2020 adjusted loss of 5 cents per share that was narrower than the Zacks Consensus Estimate of a loss of 10 cents and the year-ago quarter loss of 15 cents.
Total revenues surged 48.5% from the year-ago quarter to $140.5 million and surpassed the consensus mark of $131 million. The growth was driven by higher subscription revenues.
Quarter Details
Subscription revenues (94.3% of total revenues) surged 50.8% year over year to $132.5 million. Moreover, professional services and other revenues (5.7% of total revenues) increased 18.6% year over year to approximately $7.9 million.
Location wise, revenues from the United States (84.4% of total revenues) in second-quarter 2020 were $118.6 million, up 49.2% year over year. Non-U.S. Revenues (15.6% of total revenues) increased 45% year over year to $21.9 million.
Notably, on May 30, Okta announced opening of the cloud infrastructure provided by Amazon (NASDAQ:AMZN) Web Services in Asia Pacific and an office in Germany to expand its international footprint.
Total calculated billings during the quarter were $155.8 million, up 42.4% year over year driven by new and existing commercial and enterprise customers and increased bookings.
Dollar-based retention rate in the trailing 12 months was 118%.
Okta, Inc. Price, Consensus and EPS Surprise
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