Okta beats by $0.10, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs in-line
- Reports Q1 (Apr) earnings of $0.22 per share, $0.10 better than the FactSet Consensus of $0.12; revenues rose 24.8% year/year to $518 mln vs the $511.02 mln FactSet Consensus.
- RPO, or subscription backlog, was $2.94 billion, an increase of 9% year-over-year. cRPO, which is subscription backlog expected to be recognized over the next 12 months, was $1.70 billion, up 20% compared to the first quarter of fiscal 2023.
- Co issues upside guidance for Q2, sees EPS of $0.21-0.22, excluding non-recurring items, vs. $0.16 FactSet Consensus; sees Q2 revs of $533-535 mln vs. $528.78 mln FactSet Consensus.
- Co issues upside guidance for FY24, sees EPS of $0.88-0.93, excluding non-recurring items, vs. $0.76 FactSet Consensus; sees FY24 revs of $2.171-2.185 bln vs. $2.17 bln FactSet Consensus.
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