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Okta, Inc. (OKTA) SEC Filing 10-K Annual report for the fiscal year ending Thursday, January 31, 2019

Okta, Inc.

CIK: 1660134 Ticker: OKTA


Exhibit 99.1

Okta Announces Record Fourth Quarter and Fiscal Year 2019 Financial Results
Fiscal year 2019 revenue totaled $399 million, growing 56% year-over-year; subscription revenue grew 57% year-over-year
Q4 revenue totaled $115 million, growing 50% year-over-year; subscription revenue grew 53% year-over-year
Q4 operating cash flow margin improved 860 basis points year-over-year; free cash flow margin improved 690 basis points year-over-year

SAN FRANCISCO – March 7, 2019 – Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, today announced financial results for its fourth quarter and fiscal year ended January 31, 2019.

"We're pleased to close out a strong fourth quarter and fiscal year thanks to our relentless execution and focus on customer success, which is demonstrated by 53% subscription revenue growth and 50% growth in customers with over $100,000 annual recurring revenue in Q4," said Todd McKinnon, CEO of Okta. "Large customers are increasingly turning to Okta as the identity standard for both their workforce and customers. The Okta Identity Cloud is uniquely positioned to both help organizations realize their digital transformation initiatives and adopt a Zero Trust security posture. We are seeing Okta's early platform investments paying off and we'll continue to make investments there and in the Okta Integration Network to capture the immense opportunity ahead."

Fourth Quarter Fiscal 2019 Financial Highlights:
Revenue: Total revenue was $115.5 million, an increase of 50% year-over-year. Subscription revenue was $108.5 million, an increase of 53% year-over-year.
Operating Loss: GAAP operating loss was $27.7 million, or 24.0% of total revenue, compared to $23.7 million, or 30.8% of total revenue, in the fourth quarter of fiscal 2018. Non-GAAP operating loss was $4.9 million, or 4.3% of total revenue, compared to $9.1 million, or 11.9% of total revenue, in the fourth quarter of fiscal 2018.
Net Loss: GAAP net loss was $30.8 million, compared to $23.0 million in the fourth quarter of fiscal 2018. GAAP net loss per share was $0.28, compared to $0.23 in the fourth quarter of fiscal 2018. Non-GAAP net loss was $4.4 million, compared to $8.5 million in the fourth quarter of fiscal 2018. Non-GAAP net loss per share was $0.04, compared to $0.08 in the fourth quarter of fiscal 2018.
Cash Flow: Net cash provided by operations was $10.1 million, or 8.8% of total revenue, compared to cash provided by operations of $0.2 million, or 0.2% of total revenue, in the fourth quarter of fiscal 2018. Free cash flow was positive $4.8 million, or 4.1% of total revenue, compared to negative $2.2 million, or negative 2.8% of total revenue, in the fourth quarter of fiscal 2018.
Cash, cash equivalents and short-term investments were $563.8 million as of January 31, 2019.



1

The following information was filed by Okta, Inc. (OKTA) on Thursday, March 7, 2019 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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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit)
Balance Sheet Components
Balance Sheet Components (Tables)
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)
Balance Sheet Components - Schedule Of Property And Equipment, Net (Details)
Business Combinations
Business Combinations - Narrative (Details)
Cash Equivalents And Short-Term Investments
Cash Equivalents And Short-Term Investments (Tables)
Cash Equivalents And Short-Term Investments - Narrative (Details)
Cash Equivalents And Short-Term Investments - Schedule Of Amortized Costs, Unrealized Gains And Losses And Estimated Fair Value Of Cash Equivalents And Short-Term Investments (Details)
Cash Equivalents And Short-Term Investments - Schedule Of Contractual Maturities Of Short-Term Investments (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)
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Convertible Senior Notes (Details)
Debt And Financing Arrangements - Loan And Security Agreement (Details)
Debt And Financing Arrangements - Note Hedges And Warrants (Details)
Debt And Financing Arrangements - Schedule Of Interest Expense (Details)
Debt And Financing Arrangements - Schedule Of Liability And Equity Component Of 2023 Notes (Details)
Deferred Revenue And Performance Obligations
Deferred Revenue And Performance Obligations - Narrative (Details)
Deferred Revenue And Performance Obligations - Performance Obligations (Details)
Employee Incentive Plans
Employee Incentive Plans (Tables)
Employee Incentive Plans - Narrative (Details)
Employee Incentive Plans - Schedule Of Black-Scholes Option Pricing Model 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 On A Recurring Basis (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 Goodwill (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)
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 Of Diluted Per Share (Details)
Overview And Basis Of Presentation
Overview And Basis Of Presentation - Narrative (Details)
Subsequent Events
Subsequent Events - (Details)
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 Impact Of New Accounting Pronouncements (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: 0001660134-19-000006
Submitted to the SEC: Thu Mar 14 2019 5:03:10 PM EST
Accepted by the SEC: Thu Mar 14 2019
Period: Thursday, January 31, 2019
Industry: Prepackaged Software

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