Summary by Moomoo AI
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