Okta Inc Stock Price, News & Analysis

Okta, Inc. (NASDAQ: OKTA), a leading independent identity provider, announces participation in upcoming investor conferences. CFO Brett Tighe will present at Citi's 2022 Global Technology Conference on September 8, 2022, while CEO Todd McKinnon will present at the Goldman Sachs Communacopia + Technology Conference on September 12, 2022. Attendees can access live webcasts of the presentations on Okta's investor relations website, with replays available afterward. Over 16,400 organizations trust Okta for secure identity management.

Okta reported strong Q2 results for fiscal 2023, with total revenue of $452 million, a 43% year-over-year increase. Subscription revenue reached $435 million, growing 44% year-over-year. Remaining performance obligations (RPO) grew by 25% to $2.79 billion, and current RPO (cRPO) increased 36% to $1.50 billion. Despite a GAAP operating loss of $208 million, the loss margin improved significantly from 83% to 46%. The company anticipates Q3 revenue between $463 million and $465 million, reflecting a 32% to 33% growth rate.

The 9th annual CISO Forum, hosted by SecurityWeek, will take place virtually on September 13-14, 2022. This event focuses on cybersecurity leadership and risk management, featuring keynote speaker Adam Ely, CISO of Fidelity Investments. Attendees will engage in panel discussions and sessions led by industry experts, including representatives from Palo Alto Networks (PANW) and Okta (OKTA). Registration is complimentary, promoting broad participation among cybersecurity professionals to discuss modern security challenges and solutions.

Okta, Inc. (NASDAQ: OKTA) has appointed Emilie Choi, President and COO of Coinbase, to its board of directors effective August 19, 2022. Choi's extensive experience in technology and entrepreneurship is expected to enhance Okta's strategic direction as it focuses on digital identity solutions. CEO Todd McKinnon expressed excitement about Choi’s addition, highlighting her potential contributions to the company's mission. Choi has a robust background, having held leadership positions at LinkedIn and other prominent firms, making her a valuable asset for Okta.

Okta, Inc. (NASDAQ: OKTA) will release its second quarter fiscal year 2023 financial results on August 31, 2022, after market close. A live video webcast will take place at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results. The Okta Identity Cloud provides secure access for over 15,800 organizations, including well-known brands such as JetBlue and Nordstrom. Investors can access the press release and webcast via the Okta investor relations website.

Okta, Inc. (Nasdaq: OKTA) has appointed Shibu Ninan as Chief Accounting Officer, effective August 15, 2022. Ninan brings over 25 years of experience in global finance, previously serving at Veritas Technologies and Saba Software, and has a background with firms like KPMG and Deloitte. He holds a bachelor's from Bangalore University and is a Chartered Accountant and Certified Public Accountant. Brett Tighe, CFO of Okta, expressed confidence in Ninan's ability to enhance the leadership team as the company continues to establish itself as a leading independent identity provider.

Okta has launched a new Nonprofit Cybersecurity Portfolio, committing $1,020,000 in grants as part of its three-year Nonprofit Technology Initiative aimed at enhancing cybersecurity for nonprofits. The initiative is in response to rising cyberattacks, with over 50% of nonprofits reporting targeted incidents. The funding is allocated to six organizations, including CyberPeace Institute and NetHope, for projects that bolster cybersecurity measures. This brings Okta's total commitments through the initiative to nearly $6.5 million.

SecurityWeek will host the 2022 Cloud Security Summit virtually on June 15, 2022, focusing on securing cloud environments. Sponsored by Palo Alto Networks (PANW) and Okta (OKTA), the summit aims to equip organizations with the necessary tools and strategies to enhance cloud security. Attendees can engage with industry leaders, including Aanchal Gupta from Microsoft, who will share insights on security best practices. The event will cover topics like identity security and cloud-native security.

Okta, Inc. (Nasdaq: OKTA) reported Q1 fiscal 2023 results, showcasing a 65% year-over-year revenue growth to $415 million. Subscription revenue surged 66% to $398 million, with Remaining Performance Obligations (RPO) increasing 43% to $2.71 billion.

Despite this growth, the GAAP net loss widened to $243 million from $109 million year-over-year, with a GAAP net loss per share of $1.56.

The company expects Q2 revenue between $428 million and $430 million, and total fiscal 2023 revenue of $1.805 billion to $1.815 billion.