Zinger Key Points
- Okta reports quarterly earnings of 63 cents per share which beat the analyst consensus estimate of 51 cents.
- Quarterly sales came in at $605 million which beat the analyst consensus estimate of $587.5 million.
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Okta, Inc. OKTA reported better-than-expected fourth-quarter financial results after the bell Wednesday. Here's a look at the highlights.
The Details:
Okta reported quarterly earnings of 63 cents per share which beat the analyst consensus estimate of 51 cents.
Quarterly sales came in at $605 million which beat the analyst consensus estimate of $587.5 million and is a 18.63% increase over sales of $510 million from the same period last year.
Subscription backlog was $3.385 billion, an increase of 13% year-over-year and cRPO, which is subscription backlog expected to be recognized over the next 12 months, was $1.952 billion, up 16% year-over-year.
“We achieved record non-GAAP profitability and record cash flow in the fourth quarter, capping a year of significant margin expansion,” said Todd McKinnon, CEO of Okta.
“We’re also pleased with the strong top-line performance, which was driven by strength with large customers. Organizations continue to turn to Okta to help modernize and simplify their identity infrastructure. As we start the new fiscal year, we’re excited to deliver powerful new features and products, with security as the foundation, to better serve our customers and power even more identity use cases,” added McKinnon.
Outlook:
Okta sees first-quarter adjusted earnings per share of 54 cents to 55 cents, above the estimate of 42 cents per share, and total quarterly revenue of between $603 million and $605 million, versus the $584.89 million estimate.
Okta expects fiscal year 2025 earnings per share of between $2.24 and $2.29, above the $1.98 estimate, and fiscal year 2025 total revenue of between $2.495 billion and $2.505 billion, versus the $2.48 billion estimate.
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OKTA Price Action: According to Benzinga Pro, Okta shares are trading up 17.8% after-hours at $102.80 at the time of publication.
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