Okta Inc Stock Price, News & Analysis

Okta, Inc. (NASDAQ: OKTA) announced its advancements in Customer Identity and Access Management (CIAM) at its annual Showcase event in San Francisco. The event marks the first joint announcement post-Auth0 acquisition. New capabilities introduced include Device Authorization Grant, Branding, and Custom Administrator Roles, focused on enhancing security and user experience. Okta's investment in CIAM leverages a growing $30 billion market opportunity, aiming to provide organizations with improved security and usability. The features are available for early access, with general availability expected in late 2021 and early 2022.

Auth0 Identity Platform, a product unit within Okta, announced the appointment of Bhawna Singh as Senior Vice President of Engineering. Singh brings over 20 years of engineering experience from leadership roles at Glassdoor, Ask.com, and AT&T. Her expertise will be vital in advancing Auth0's technology and enhancing customer solutions. Singh's vision aligns with the company's goals of secure access and continuous innovation in identity management. This leadership change is expected to strengthen Auth0's growth and customer trust.

Okta, Inc. (NASDAQ:OKTA) has achieved a significant milestone by reaching 100% renewable electricity for its global operations and employees’ work-from-home energy consumption for FY22. The company launched the Dynamic Work Greenhouse Gas (GHG) Emissions Study, highlighting that emissions per employee are estimated to be 21% lower in a hybrid work model compared to pre-Dynamic Work levels. This initiative aligns with its Environmental, Social, and Governance (ESG) goals and demonstrates Okta's commitment to sustainability.

Okta, a leader in identity solutions, has been added to the inaugural StateRAMP Authorized Vendor List, ensuring its products meet stringent security standards for government agencies. This recognition underscores Okta's commitment to enhancing digital security amid rising cyber threat concerns. The company’s Identity Platform facilitates efficient identity management for state and local agencies, streamlining processes and bolstering security. Arizona has partnered with Okta over the past four years to implement these identity solutions, highlighting a collaborative approach to digital transformation.

Okta, Inc. (NASDAQ: OKTA), a leading independent identity provider, announced that its management will participate in several investor conferences. Frederic Kerrest (Executive Vice Chairman) will present at the Piper Sandler Global Technology Conference on September 14, 2021. CEO Todd McKinnon will present at Citi's Global Technology Virtual Conference on September 15, 2021. Both presentations will be webcast live and available for replay on Okta's investor relations website. Okta enables secure connections through its Identity Cloud, with over 13,050 organizations relying on its services.

Okta, Inc. reported strong Q2 FY2022 results, with total revenue rising 57% year-over-year to $316 million. Subscription revenue also increased, growing 59% to $303 million. Remaining Performance Obligations reached $2.24 billion, a 57% increase. Despite this growth, the GAAP operating loss widened to $263 million, and the GAAP net loss was $277 million. For Q3 FY2022, Okta anticipates revenue between $325 million and $327 million, indicating a 50% year-over-year growth rate.

Okta, Inc. (NASDAQ:OKTA) announces Sagnik Nandy as its new President of Technology and CTO. Nandy joins Okta’s executive team, reporting to CEO Todd McKinnon. He brings over 15 years of experience from Google, where he led engineering initiatives for core advertising and analytics. Nandy aims to enhance Okta's product development and strengthen its market leadership in identity solutions. McKinnon emphasizes Nandy's strong technical background and leadership skills as pivotal for driving innovation at Okta, which focuses on secure digital access for organizations globally.

Okta, Inc. (NASDAQ: OKTA) announced it will release its financial results for the second quarter of fiscal 2022 on September 1, 2021, after market close. The live video webcast will begin at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. As a leader in identity solutions, Okta provides secure access to over 10,650 organizations through its Identity Cloud, boasting more than 7,000 integrations with applications and infrastructure. Investors can find the press release on the Okta investor relations website before the event.