Benzinga | May 26, 2021 04:04PM EDT

Okta Sees Q2 Adj. EPS $(0.36)-$(0.35) vs $(0.11) Est., Sales $295M-$297M vs $258.08M Est.; Sees FY22 Adj. EPS $(1.16)-$(1.13) May Not Compare To $(0.44) Est., Sales $1.215B-$1.225B vs $1.09B Est.

Financial Outlook:

Okta's financial outlook for the second quarter and full year fiscal 2022 includes the expected contribution from the acquisition of Auth0, net of purchase accounting adjustments. The acquisition closed on May 3, 2021.

For the second quarter of fiscal 2022, the Company expects:

* Total revenue of $295 million to $297 million, representing a growth rate of 47% to 48% year-over-year;

* Non-GAAP operating loss of $55 million to $53 million; and

* Non-GAAP net loss per share of $0.36 to $0.35, assuming weighted-average shares outstanding of approximately 154 million.

For the full year fiscal 2022, the Company now expects:

* Total revenue of $1.215 billion to $1.225 billion, representing a growth rate of 45% to 47% year-over-year;

* Non-GAAP operating loss of $172 million to $167 million; and

* Non-GAAP net loss per share of $1.16 to $1.13, assuming weighted-average shares outstanding of approximately 150 million.