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Okta, Inc. (OKTA) SEC Filing 10-K Annual Report for the fiscal year ending Monday, January 31, 2022

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Okta, Inc.

HISTORY TOOLS
CIK: 1660134 Ticker: OKTA

Okta Announces Strong Fourth Quarter And Fiscal Year 2022 Results
•Q4 revenue grew 63% year-over-year; subscription revenue grew 64% year-over-year
•Fiscal year 2022 revenue totaled $1.30 billion and grew 56% year-over-year; subscription revenue grew 57% year-over-year
•Remaining performance obligations (RPO) grew 50% year-over-year to $2.69 billion; current remaining performance obligations (cRPO) grew 60% year-over-year to $1.35 billion


SAN FRANCISCO – March 2, 2022
 – Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced financial results for its fourth quarter and fiscal year ended January 31, 2022.


"Identity management is at the forefront of today's rapidly evolving security environment," said Todd McKinnon, Chief Executive Officer and co-founder of Okta. "Today, C-level executives and developers are increasingly turning to Okta to help provide their employees and customers the freedom to safely use any technology. We exited FY22 with accelerating top-line metrics driven by strong execution and robust demand across our workforce solutions and both Okta and Auth0 customer identity solutions. Okta brings an unparalleled platform of cloud native identity management solutions to a massive market that continues to move towards us, propelled by the three mega-trends of cloud and hybrid IT, digital transformation, and zero trust security.”

Fourth Quarter Fiscal 2022 Financial Highlights:
•Revenue: Total revenue was $383 million, an increase of 63% year-over-year. Subscription revenue was $369 million, an increase of 64% year-over-year. On an Okta standalone basis (excluding $56 million attributable to Auth0), total revenue grew 39%.
•Remaining Performance Obligations (RPO): RPO, or subscription backlog, was $2.69 billion, an increase of 50% year-over-year. Current RPO, which is contracted subscription revenue expected to be recognized over the next 12 months, was $1.35 billion, up 60% compared to the fourth quarter of fiscal 2021.
•Calculated Billings: Total calculated billings, net of acquired deferred revenue, was $603 million, an increase of 91% year-over-year. Calculated billings includes the effect of billings process improvements that were enacted at the end of the first quarter of fiscal 2022. Excluding these changes, calculated billings would have been $540 million, an increase of 71% year-over-year.
•GAAP Operating Loss: GAAP operating loss was $214 million, or 56% of total revenue, compared to a GAAP operating loss of $55 million, or 23% of total revenue, in the fourth quarter of fiscal 2021.
•Non-GAAP Operating Income/Loss: Non-GAAP operating loss was $24 million, or 6% of total revenue, compared to non-GAAP operating income of $8 million, or 3% of total revenue, in the fourth quarter of fiscal 2021.
•GAAP Net Loss: GAAP net loss was $241 million, compared to a GAAP net loss of $76 million in the fourth quarter of fiscal 2021. GAAP net loss per share was $1.56, compared to a GAAP net loss per
1
The following information was filed by Okta, Inc. (OKTA) on Wednesday, March 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Okta, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity (Deficit)
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Property And Equipment, Net (Details)
Balance Sheet Components - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Balance Sheet Components - Schedule Of Allowances (Details)
Balance Sheet Components - Schedule Of Other Liabilities, Noncurrent (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Business Combinations - Schedule Of Business Acquisition Consideration (Details)
Business Combinations - Schedule Of Finite-Lived Intangible Assets Acquired (Details)
Business Combinations - Schedule Of Pro Forma Information (Details)
Business Combinations - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (Details)
Cash Equivalents And Investments
Cash Equivalents And Investments (Tables)
Cash Equivalents And Investments - Narrative (Details)
Cash Equivalents And Investments - Schedule Of Cash Equivalents And Short-Term Investments (Details)
Cash Equivalents And Investments - Schedule Of Contractual Maturities Of Short-Term Investments (Details)
Cash Equivalents And Investments - Schedule Of Unrealized Loss Position And Fair Value Of Debt Securities (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Summary Of Future Commitment Maturity Schedules (Details)
Common Stock And Stockholders' Equity
Common Stock And Stockholders' Equity (Tables)
Common Stock And Stockholders' Equity - Narrative (Details)
Common Stock And Stockholders' Equity - Schedule Of Common Stock Reserved For Future Issuance (Details)
Convertible Senior Notes, Net
Convertible Senior Notes, Net (Tables)
Convertible Senior Notes, Net - Convertible Senior Notes Narrative (Details)
Convertible Senior Notes, Net - Note Hedges, Warrants And Capped Calls (Details)
Convertible Senior Notes, Net - Schedule Of Convertible Debt (Details)
Convertible Senior Notes, Net - Schedule Of Interest Expense (Details)
Deferred Revenue And Performance Obligations
Deferred Revenue And Performance Obligations (Details)
Employee Incentive Plans
Employee Incentive Plans (Tables)
Employee Incentive Plans - Narrative (Details)
Employee Incentive Plans - Schedule Of Estimated Fair Value Assumptions (Details)
Employee Incentive Plans - Schedule Of Restricted Stock Unit Activity (Details)
Employee Incentive Plans - Schedule Of Stock Option Activity (Details)
Employee Incentive Plans - Schedule Of Stock-Based Compensation Expense By Award Type (Details)
Employee Incentive Plans - Schedule Of Stock-Based Compensation Expense By Statement Of Operations Location (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Carrying Amounts And Estimated Fair Values Of Convertible Note (Details)
Fair Value Measurements - Schedule Of Financial Assets And Liabilities Measured At Fair Value (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Narrative (Details)
Goodwill And Intangible Assets, Net - Remaining Amortization Expense (Details)
Goodwill And Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Effective Income Tax Rate (Details)
Income Taxes - Schedule Of Components Of Provision For (Benefit From) Income Taxes (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Domestic And Foreign Components Of Pre-Tax Loss (Details)
Income Taxes - Unrecognized Tax Benefits Rollforward (Details)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Schedule Of Maturities Of Operating Leases (Details)
Leases - Schedule Of Operating Lease Costs (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Narrative (Details)
Net Loss Per Share - Schedule Of Basic And Diluted Net Loss Per Share (Details)
Net Loss Per Share - Schedule Of Potentially Dilutive Securities Excluded From Computation (Details)
Overview And Basis Of Presentation
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Schedule Of Estimated Useful Lives (Details)
Summary Of Significant Accounting Policies - Schedule Of Revenue By Geographic Area (Details)
Ticker: OKTA
CIK: 1660134
Form Type: 10-K Annual Report
Accession Number: 0001660134-22-000010
Submitted to the SEC: Mon Mar 07 2022 4:52:24 PM EST
Accepted by the SEC: Mon Mar 07 2022
Period: Monday, January 31, 2022
Industry: Prepackaged Software

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