Okta

Q2 FY2027 EarningsQ2 FY27 beat consensus across top and bottom-line metrics: total revenue of $805M vs. $793M expected, and GAAP EPS of $0.65 vs. $0.40 expected. Subscription revenue grew 12% YoY, while the non-GAAP operating margin expansion was driven by a significant reduction in stock-based compensation and improved spend efficiency. Despite the beat, the Dollar-Based Net Retention Rate of 107% remains under pressure compared to historical highs, and management noted potential headwinds from longer sales cycles and macroeconomic uncertainty.