Last10K.com

Okta, Inc. (OKTA) SEC Filing 10-Q Quarterly Report for the period ending Sunday, October 31, 2021

Okta, Inc.

CIK: 1660134 Ticker: OKTA

Okta Announces Strong Third Quarter Results
Q3 revenue grew 61% year-over-year; subscription revenue grew 63% year-over-year
Remaining performance obligations (RPO) grew 49% year-over-year to $2.35 billion
Increases revenue and operating profit outlook for fiscal 2022
Okta and Okta (Auth0) Both Named as Leaders in 2021 Gartner® Magic Quadrant™ for Access Management; Okta positioned highest in Ability to Execute

SAN FRANCISCO – December 1, 2021
– Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced financial results for its third quarter ended October 31, 2021.


"Our strong third quarter results reflect the continued shift to Identity-First architectures and the critical adoption of Zero Trust security environments, which are both propelling our market leading position," said Todd McKinnon, Chief Executive Officer and co-founder of Okta. "We’re maintaining the momentum of both Okta and Auth0 and are making great progress on the integration. We’re already seeing early success cross-selling into each other’s customer bases and are on our way to capturing more of the massive identity market faster together."

Third Quarter Fiscal 2022 Financial Highlights:
Revenue: Total revenue was $351 million, an increase of 61% year-over-year. Subscription revenue was $337 million, an increase of 63% year-over-year. On an Okta standalone basis (excluding $46 million attributable to Auth0), total revenue grew 40%.
Remaining Performance Obligations (RPO): RPO, or subscription backlog, was $2.35 billion, an increase of 49% year-over-year. Current RPO, which is contracted subscription revenue expected to be recognized over the next 12 months, was $1.18 billion, up 57% compared to the third quarter of fiscal 2021.
Calculated Billings: Total calculated billings, net of acquired deferred revenue, was $389 million, an increase of 54% 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 $387 million, an increase of 53% year-over-year.
GAAP Operating Loss: GAAP operating loss was $199 million, or 57% of total revenue, compared to a GAAP operating loss of $52 million, or 24% of total revenue, in the third quarter of fiscal 2021.
Non-GAAP Operating Income/Loss: Non-GAAP operating loss was $10 million, or (3)% of total revenue, compared to non-GAAP operating income of $6 million, or 3% of total revenue, in the third quarter of fiscal 2021.
GAAP Net Loss: GAAP net loss was $221 million, compared to a GAAP net loss of $73 million in the third quarter of fiscal 2021. GAAP net loss per share was $1.44, compared to a GAAP net loss per share of $0.56 in the third quarter of fiscal 2021. GAAP net loss and GAAP net loss per share include $120 million and $0.78, respectively, attributable to Auth0 in the third quarter of fiscal 2022.
Non-GAAP Net Income/Loss: Non-GAAP net loss was $11 million, compared to non-GAAP net income of $6 million in the third quarter of fiscal 2021. Non-GAAP basic and diluted net loss per share
1

The following information was filed by Okta, Inc. (OKTA) on Wednesday, December 1, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Okta, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Okta, Inc..

Continue

Assess how Okta, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Okta, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
Legal
M & A
Other
Filter by Subcategory:
All
Expense
Earnings
Product
Shares
Income
Cash Flow
Debt
Other
Inside Okta, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Accounting Standards And Significant Accounting Policies
Accounting Standards And Significant Accounting Policies (Policies)
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 Amortized Costs, Unrealized Gains And Losses And Estimated Fair Value Of Cash Equivalents And Short-Term Investments (Details)
Cash Equivalents And Investments - Schedule Of Contractual Maturities Of Short-Term Investments (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Convertible Senior Notes, Net
Convertible Senior Notes, Net (Tables)
Convertible Senior Notes, Net - Convertible Senior Notes (Details)
Convertible Senior Notes, Net - Note Hedges, Warrants And Capped Calls (Details)
Convertible Senior Notes, Net - Schedule Of Interest Expense (Details)
Convertible Senior Notes, Net - Schedule Of Liability And Equity Component Of Notes (Details)
Deferred Commissions
Deferred Commissions (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 Common Stock Reserved For Future Issuance (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 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 - Schedule Of Future Amortization Expense (Details)
Goodwill And Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes - Narrative (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 Of Diluted Per Share (Details)
Overview And Basis Of Presentation
Subsequent Events

Material Contracts, Statements, Certifications & more

Okta, Inc. provided additional information to their SEC Filing as exhibits

Ticker: OKTA
CIK: 1660134
Form Type: 10-Q Quarterly Report
Accession Number: 0001660134-21-000026
Submitted to the SEC: Wed Dec 01 2021 6:09:36 PM EST
Accepted by the SEC: Thu Dec 02 2021
Period: Sunday, October 31, 2021
Industry: Prepackaged Software

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/okta/0001660134-21-000026.htm