On August 28, 2024, Okta, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol OKTA, reported its financial results for the fiscal quarter ending July 31, 2024. The company announced a 16% year-over-year increase in total revenue, reaching $646 million, with subscription revenue growing by 17% to $632 million. Okta achieved record profitability, including GAAP profitability for the first time, and reported operating cash flow of $86 million and free cash flow of $78 million. The company's current remaining performance obligations (cRPO) grew by 13% year-over-year to $1.995 billion. Okta's GAAP net income stood at $29 million, marking a significant improvement from a GAAP net loss of $111 million in the same quarter of the previous fiscal year. Non-GAAP net income was...Show More

On August 28, 2024, Okta, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol OKTA, reported its financial results for the fiscal quarter ending July 31, 2024. The company announced a 16% year-over-year increase in total revenue, reaching $646 million, with subscription revenue growing by 17% to $632 million. Okta achieved record profitability, including GAAP profitability for the first time, and reported operating cash flow of $86 million and free cash flow of $78 million. The company's current remaining performance obligations (cRPO) grew by 13% year-over-year to $1.995 billion. Okta's GAAP net income stood at $29 million, marking a significant improvement from a GAAP net loss of $111 million in the same quarter of the previous fiscal year. Non-GAAP net income was $131 million, up from $56 million in the prior year. The company also provided a financial outlook for the third quarter and full fiscal year of 2025, factoring in a challenging macro environment and incorporating conservatism due to the potential impacts related to the October 2023 security incident. For Q3, Okta expects total revenue between $648 million to $650 million and a non-GAAP operating income of $118 million to $120 million. For the full fiscal year, the company now anticipates total revenue of $2.555 billion to $2.565 billion and a non-GAAP operating income of $535 million to $545 million. Okta hosted a live video webcast to discuss these results and its outlook.