Okta shares jump 18% after beating earnings and raising fiscal 2027 outlook

Okta Inc reported fiscal Q2 revenue of $805 million, beating estimates and up 11% year-over-year, with subscription revenue rising 12%. Non-GAAP earnings per share were $1.05, surpassing expectations, and GAAP net income nearly doubled to $116 million. The company raised its full-year 2027 revenue forecast to $3.216-$3.226 billion and non-GAAP EPS to $3.90-$3.94. CEO Todd McKinnon highlighted Okta's role in securing AI agent identities as a growth driver. The stock is set to open about 18% higher following these strong results and outlook upgrade.