Okta (OKTA) closed the most recent trading day at $84.51, moving -0.65% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.Shares of the cloud identity management company witnessed a loss of 6.11% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.21% and the S&P 500's gain of 2.4 ...

The latest trading session saw Okta (OKTA) ending at $81.28, denoting a +0.07% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 1.7%.Prior to today's trading, shares of the cloud identity management company had lost 8.78% over the past month. This has lagged the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.The invest ...

In the latest trading session, Okta (OKTA) closed at $83.78, marking a -0.2% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day.The cloud identity management company's stock has climbed by 6.75% in the past month, exceeding the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98%.The upcoming earnings release of Okta will be of great interest to investors. The company is forecasted to report an EPS of $0.51, showcasing a 70% ...

From a technical perspective, Okta, Inc. (OKTA) is looking like an interesting pick, as it just reached a key level of support. OKTA's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-d ...

Fool.com contributor Parkev Tatevosian shares one growth stock down meaningfully off its high-water mark, making an excellent investment for 2024.*Stock prices used were the afternoon prices of Dec. 27, 2023. The video was published on Dec. 29, 2023. ...

Revenue and Growth - Total revenue for the three months ended October 31, 2023, was $584 million, a 21.4% increase from $481 million in the same period of 2022[16] - Subscription revenue for the three months ended October 31, 2023, was $569 million, up from $466 million in the same period of 2022, representing a 21.9% growth[16] - Subscription revenue recognized during the three months ended October 31, 2023, was $519 million, up from $418 million in the same period of 2022[51] Profitability and Losses - Gross profit for the three months ended October 31, 2023, was $439 million, compared to $343 million in the same period of 2022, reflecting a gross margin increase[16] - Operating loss for the three months ended October 31, 2023, was $(111) million, an improvement from $(207) million in the same period of 2022[16] - Net loss for the three months ended October 31, 2023, was $(81) million, compared to $(209) million in the same period of 2022, indicating a reduction in losses[16] - For the nine months ended October 31, 2023, the net loss was $311 million, an improvement from a net loss of $662 million in the same period of 2022[26] - For the three months ended October 31, 2023, the company reported a net loss of $77 million, resulting in a basic and diluted net loss per share of $0.49[80] - For the nine months ended October 31, 2023, the company recorded a net loss of $297 million, with a basic and diluted net loss per share of $1.91[80] Cash and Investments - Cash and cash equivalents increased to $400 million as of October 31, 2023, from $264 million as of January 31, 2023[13] - The company reported a total cash, cash equivalents, and restricted cash of $408 million as of October 31, 2023, up from $259 million at the end of the previous period[26] - As of October 31, 2023, the company had cash, cash equivalents, and short-term investments totaling $2,130 million, with $2,017 million invested in U.S. treasury securities and other safe instruments[184] - The company’s total short-term investments amounted to $1,730 million as of October 31, 2023, with an amortized cost of $1,735 million[43] - The company’s cash equivalents included $287 million in money market funds as of October 31, 2023[43] Assets and Equity - Total assets decreased to $8,740 million as of October 31, 2023, from $9,307 million as of January 31, 2023[13] - Total stockholders' equity increased to $5,730 million as of October 31, 2023, compared to $5,466 million as of January 31, 2023[13] Expenses - Research and development expenses for the three months ended October 31, 2023, were $165 million, up from $148 million in the same period of 2022[16] - Stock-based compensation expense for the three months ended October 31, 2023, was $172 million, consistent with the same period in 2022[73] - The company incurred $803 million in payments for repurchases of convertible senior notes during the financing activities[26] - The company recognized $25 million in non-cash lease impairment charges during the nine months ended October 31, 2023, related to its real estate optimization plan[38] - The company’s cash paid for operating leases during the period was $34 million, compared to $30 million in the previous year[26] Employee and Restructuring - The company’s restructuring plan involved a reduction of approximately 300 full-time employees to improve profitability[39] - The company recognized an additional $4 million in severance and termination benefit costs related to workforce reduction in the three and nine months ended October 31, 2023[40] Securities and Debt - The company issued the 2025 Notes with a principal amount of $1,060 million, of which $552 million remains outstanding as of October 31, 2023[187] - The company also issued the 2026 Notes with a principal amount of $1,150 million, with $758 million remaining outstanding as of October 31, 2023[188] - The 2025 and 2026 Notes have fixed annual interest rates of 0.125% and 0.375%, respectively, exposing the fair value of the Notes to interest rate risk[189] Tax and Valuation - The effective tax rate for the three months ended October 31, 2023, was approximately (9.0)% on pretax losses of $74 million[75] - The effective tax rate for the three and nine months ended October 31, 2022, was approximately (1.8)% and (1.5)%, respectively, primarily due to a full valuation allowance against U.S. deferred tax assets[79] Performance Obligations - Total remaining non-cancelable performance obligations under subscription contracts were approximately $3,073 million as of October 31, 2023, with an expected revenue recognition of $1,826 million, or 59%, over the next 12 months[55] Other Financial Metrics - The company reported a weighted-average share count of 164,381 thousand for the three months ended October 31, 2023[16] - The company had 22,833 thousand potentially dilutive securities that were not included in the diluted per share calculations due to being anti-dilutive as of October 31, 2023[80] - The company had 98 short-term investments in unrealized loss positions as of October 31, 2023, down from 159 as of January 31, 2023[46] - Unrecognized stock-based compensation expense related to outstanding equity awards was $1,139 million as of October 31, 2023[73] - As of October 31, 2023, the estimated fair value of U.S. treasury securities was $1,517 million with unrealized losses of $5 million, while corporate debt securities had an estimated fair value of $32 million with no unrealized losses[46] - The company has not entered into any hedging arrangements regarding foreign currency risk, and a hypothetical 10% change in foreign currency exchange rates would not have had a material impact on its financial statements[183] - The company’s operating expenses are primarily denominated in local currencies, which may be adversely affected by fluctuations in foreign currency exchange rates[183]

Okta, Inc. (NASDAQ:OKTA) Q3 2024 Earnings Conference Call November 29, 2023 5:00 PM ET Company Participants Dave Gennarelli - Senior Vice President of Investor Relations Todd McKinnon - Chief Executive Officer and Co-Founder Brett Tighe - Chief Financial Officer Conference Call Participants Brian Essex - JPMorgan Rob Owens - Piper Sandler Adam Tindle - Raymond James Rudy Kessinger - D.A. Davidson Hamza Fodderwala - Morgan Stanley Joe Gallo - Jefferies Madeline Brooks - BofA Eric Heath - KeyBanc Gray Powell ...

Safe harbor Any unreleased products, features or functionality referenced in this presentation are not currently available and may not be delivered on time or at all. Product roadmaps do not represent a commitment, obligation or promise to deliver any product, feature or functionality, and you should not rely on them to make your purchase decisions. Company Overview 03 3 @ Okta and/or its affiliates. All rights reserved. 5 Okta at a Glance 115% TTM Dollar-based net retention rate(1) at October 31, 2023 l Ok ...

Okta, Inc. (NASDAQ:OKTA) Investor Summit 2023 October 4, 2023 2:00 PM ET Company Participants Dave Gennarelli - VP, IR Todd McKinnon - CEO & Co-Founder Eugenio Pace - President, Business Operations Brett Tighe - CFO Conference Call Participants Keith Bachman - BMO Capital Markets John DiFucci - Guggenheim Securities Colin Ducharme - Sterling Capital Gray Powell - BTIG Robbie Owens - Piper Sandler Shaul Eyal - TD Cowen Brian Essex - JPMorgan Shrenik Kothari - Baird Luke Mott - Wolfe Research Dave Gennarelli ...

Summary of Okta, Inc. Conference Call Company Overview - **Company**: Okta, Inc. (NASDAQ: OKTA) - **Event**: Citi's 2023 Global Technology Conference - **Date**: September 6, 2023 - **Participants**: Brett Tighe (CFO), Joel Omino (Citi Research Associate) Key Points Business Segments - Okta operates two main business segments: **Workforce Identity** and **Customer Identity**. Both segments are experiencing positive growth trends [5][4]. - Workforce Identity includes three major product lines: Access Management, Governance, and Privileged Access Management (PAM), with PAM expected to go General Availability (GA) later this year [5][8]. - The company is guiding for approximately **$2.2 billion** in revenue for the year, with a free cash flow margin of around **15%** [5][12]. Market Dynamics and Strategy - Okta is transitioning from a focus on Access Management to a more comprehensive Identity platform, responding to customer demand for integrated solutions [6][8]. - The company has faced macroeconomic challenges but is seeing signs of stabilization, with improved execution metrics in recent quarters [9][12]. - Key metrics indicating recovery include stabilization in upsell rates related to seat counts and monthly active users (MAU) [14][15]. Execution Challenges - The company experienced execution challenges in the first half of last year due to excess capacity and unclear messaging regarding Customer Identity tools [10][11]. - Changes made in Q3 of last year, such as slowing down hiring and clarifying product messaging, have led to improved performance in Q1 and Q2 of this year [11][12]. Competitive Landscape - Okta is focused on convincing developers to use its technology for identity management rather than building their own solutions, emphasizing the complexity and cost of in-house development [51][52]. - The competitive environment remains stable, with no significant changes noted in the market dynamics [54][55]. Product Development and Future Outlook - Okta is investing in AI, with a budget of **$40 million** allocated for R&D in this area, aiming to enhance its product offerings [57][60]. - The company is also expanding its partner ecosystem, focusing on high-value partners and diversifying into cloud marketplaces and global system integrators (GSIs) [32][34]. Financial Performance and Guidance - Okta has made significant margin improvements, with a focus on balancing revenue growth and free cash flow [61][62]. - The company is optimistic about future growth opportunities, particularly in the Workforce segment, which is projected to be a **$50 billion** market [38][39]. Public Sector Opportunities - Okta has gained necessary certifications to operate in the public sector, which is one of the fastest-growing areas for the company [81][82]. - The public sector growth is not limited to federal but also includes state, local, and educational organizations [82]. Leadership and Organizational Changes - The search for a new Head of Sales is ongoing, with a focus on making a long-term strategic hire [24][25]. - The company is adapting to leadership changes without significant disruption, emphasizing agility and responsiveness to market needs [29][30]. Additional Insights - Okta's Governance tool has been well-received, with customers spending about **one-third** of their total workforce budget on it [78]. - The company is cautious about future net retention rates, expecting them to decline slightly due to macroeconomic impacts [75][76]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Okta's current position, challenges, and future opportunities in the identity management market.