Okta Inc - OKTA STOCK NEWS

Okta, Inc. (NASDAQ:OKTA) has achieved a Provisional Authorization To Operate (P-ATO) at Impact Level 4 (IL4) from the Defense Information Systems Agency. This authorization enhances government agencies' adoption of Okta Identity Cloud, facilitating digital transformation by providing secure identity solutions. The IL4 P-ATO reinforces Okta's commitment to securing critical government data and follows its previous FedRAMP Moderate ATO achievement. With over 10,650 customers, Okta continues to support agencies in modernizing identity management while addressing Zero Trust security challenges.

Okta, Inc. (NASDAQ:OKTA) announced expansion in the public sector with deployments in Kansas and Iowa. The Kansas Department of Labor utilized Okta's solutions to combat fraudulent unemployment claims, stopping over 7.68 million bot attempts. Iowa has adopted Okta's identity solutions for its 25,000 employees, facilitating access to online services for citizens. In Q1 fiscal 2022, Okta added over 10,650 customers and revealed new leadership and product innovations, including advancements in Identity Governance and Privileged Access Management. The company completed the acquisition of Auth0, furthering its growth.

Okta, Inc. (NASDAQ:OKTA) has appointed Jeff Epstein, former CFO of Oracle, to its board of directors as audit committee chair, effective May 25, 2021. With over 30 years in financial leadership, Epstein aims to leverage his extensive knowledge in enterprise software to contribute to Okta's growth in identity solutions. This appointment coincides with Okta's business momentum, following its acquisition of Auth0 and the launch of new products, Okta Identity Governance and Okta Privileged Access Management, targeting digital transformation and zero trust security.

Okta reported strong financial results for Q1 FY22 with total revenue of $251 million, a 37% increase year-over-year. Subscription revenue reached $240 million, up 38%. Remaining Performance Obligations (RPO) grew by 52% to $1.89 billion. However, the company recorded a GAAP net loss of $109 million, worsening from the previous year's $58 million net loss. The acquisition of Auth0 is set to enhance Okta's identity platform, driving growth in the $80 billion identity market.

Okta, Inc. (NASDAQ:OKTA) has successfully completed its acquisition of Auth0, valued at approximately $6.5 billion. This strategic acquisition aims to expand Okta's reach in the $80 billion identity market, enhancing its offerings in secure digital access for customers and employees. Auth0 will function as an independent unit, led by its CEO, and will synergize with Okta's existing services to foster innovation. The transaction is expected to create substantial value for both companies in terms of market expansion and customer flexibility.

Okta, Inc. (NASDAQ: OKTA) will release its financial results for the first quarter of fiscal 2022 on May 26, 2021, post U.S. market close. A live video webcast discussing these results will take place at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. The Okta Identity Cloud enables secure connections across organizations, with over 7,000 integrations and more than 10,000 clients, including notable companies like JetBlue and T-Mobile. Investors can access the press release and webcast on Okta's investor relations website.

Okta, Inc. (NASDAQ:OKTA) announces the appointment of Steve Dodenhoff as SVP of Worldwide Partners and Alliances, reporting to Chief Revenue Officer Steve Rowland. Dodenhoff will oversee Okta’s go-to-market strategy and sales revenue across its global partner ecosystem. Rowland praised Dodenhoff’s strong record in building enterprise software companies. Dodenhoff expressed enthusiasm for enhancing Okta's partner ecosystem to accelerate customer success. With over 7,000 integrations, Okta remains a leader in identity solutions, trusted by more than 10,000 organizations worldwide.

Okta, Inc. (NASDAQ:OKTA) has launched Okta Privileged Access at Oktane21, enhancing identity management and Zero Trust security. This product simplifies privileged access for hybrid and multi-cloud environments, addressing the slow adoption of security policies. It offers just-in-time access using ephemeral credentials, enabling organizations to mitigate risks, reduce operational burdens, and accelerate deployment. Okta Privileged Access will be available in Q1 2022, streamlined for faster security and compliance outcomes across enterprise infrastructures.

Okta, Inc. (NASDAQ:OKTA) launched Okta Identity Governance at the Oktane21 event, introducing a modern cloud-first solution for identity governance and administration. It tackles the challenges of user access in today's dynamic work environments. The product enhances user productivity and IT efficiency by automating access provisions and compliance reporting, while also improving security by maintaining least privilege access. T-Mobile highlights Okta's role in empowering employees with modern tools, showcasing the platform's impact on productivity and compliance.