Okta, Inc.

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SKU: OKTA Category:

Description

Okta delivered an all-around beat in the previous quarter, witnessing a robust 21% growth in total revenue, primarily fueled by a remarkable 22% surge in subscription revenue, constituting a substantial 97% overall revenue. The international sector also demonstrated noteworthy progress, with a 20% increase, contributing 21% to the total revenue. Despite an 8% growth in subscription backlog or RPO, the shortening of contract term lengths in recent quarters influenced the overall RPO growth. Retaining its strength, the gross retention rates remained consistently high in the mid-90% range. Okta’s Q3 operating expenses surpassed expectations. The balance sheet also remained robust. For Q4 and FY ’24, Okta’s team forecasts total revenue of $585 million to $587 million, representing a 15% growth. The company also raised its FY ’24 revenue outlook by $30 million at the high end, now expecting $2.243 billion to $2.245 billion in revenue, a growth of 21%. Furthermore, Okta increased its non-GAAP operating income outlook by $65 million, targeting $283 million to $285 million. The company further introduced a new solution called Identity Threat Protection with Okta AI. This product is designed for the Okta Workforce Identity Cloud and provides immediate detection and reaction to identity-related risks.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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