On February 28, 2024, Okta, Inc., a leading independent identity partner, reported its financial results for the fourth quarter and full fiscal year ended January 31, 2024. The company announced a 19% year-over-year increase in Q4 revenue, reaching $605 million, with subscription revenue growing by 20% to $591 million. Okta also reported a significant year-over-year growth in current remaining performance obligations (cRPO) to $1.952 billion, a 16% increase. The company highlighted record operating cash flow of $174 million and free cash flow of $166 million for the quarter. For the full fiscal year, total revenue was $2.263 billion, marking a 22% increase from the previous year, with subscription revenue up by 23% to $2.205 billion. Okta's GAAP operating loss decreased substantially from $812 million in fiscal 2023 to $516 million in fiscal 2024, while non-GAAP...Show More

On February 28, 2024, Okta, Inc., a leading independent identity partner, reported its financial results for the fourth quarter and full fiscal year ended January 31, 2024. The company announced a 19% year-over-year increase in Q4 revenue, reaching $605 million, with subscription revenue growing by 20% to $591 million. Okta also reported a significant year-over-year growth in current remaining performance obligations (cRPO) to $1.952 billion, a 16% increase. The company highlighted record operating cash flow of $174 million and free cash flow of $166 million for the quarter. For the full fiscal year, total revenue was $2.263 billion, marking a 22% increase from the previous year, with subscription revenue up by 23% to $2.205 billion. Okta's GAAP operating loss decreased substantially from $812 million in fiscal 2023 to $516 million in fiscal 2024, while non-GAAP operating income turned positive at $310 million compared to a non-GAAP operating loss of $10 million the previous year. The company's forward-looking statements for the first quarter of fiscal 2025 project total revenue between $603 million to $605 million and a non-GAAP operating income of $108 million to $110 million. For the full year fiscal 2025, Okta expects total revenue of $2.495 billion to $2.505 billion and a non-GAAP operating income of $455 million to $465 million. The company's financial outlook takes into account a stable yet challenging macro environment and potential impacts from the October 2023 security incident.