By Nicholas G. Miller

Okta posted higher second-quarter earnings and revenue and raised its fiscal-year outlook as it said its subscription backlog saw significant growth.

The identity-security company posted $67 million in net income, or 37 cents a share, up from $29 million, or 15 cents a share.

Adjusted earnings were 91 cents a share. Analysts were expecting 84 cents a share, according to FactSet.

Okta posted $728 million in sales, up 13% from the year prior. Wall Street was expecting $711.2 million. Okta said its remaining performance obligations, or its subscription backlog, increased 18%, to $4.15 billion, while its subscription backlog expected to be recognized over the next 12 months grew 13%, to $2.27 billion.

The San Francisco company raised its fiscal-year revenue forecast to $2.88 billion to $2.89 billion, up from the $2.85 billion to $2.86 billion it projected in May. It increased its full-year adjusted earnings to $3.33 to $3.38 a share, up from $3.23 to $3.28 a share. Wall Street expects full-year sales of $2.86 billion and adjusted earnings of $3.27.

Okta guided for third-quarter revenue between $728 million and $730 million and adjusted earnings of 74 cents to 75 cents a share. Analysts forecast third-quarter sales of $721.3 million and adjusted earnings of 75 cents.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

August 26, 2025 16:04 ET (20:04 GMT)

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