Okta Inc Stock Price, News & Analysis

Okta, Inc. (NASDAQ: OKTA) will announce its financial results for the first quarter of fiscal year 2023, ending April 30, 2022, after U.S. market close on June 2, 2022. A live video webcast will follow at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss these results. Okta is recognized as a leading identity provider with an extensive integration of over 7,000 applications, offering secure access to over 15,000 organizations, including notable names like JetBlue and Nordstrom.

Ingram Micro has expanded its partnership with Okta to enhance go-to-market strategies in the Americas and plans to extend this relationship worldwide. The collaboration aims to introduce channel partners to opportunities in customer identity and access management (CIAM), tapping into a market estimated at $80 billion. The partnership is set to bolster Okta’s global channel growth strategy, providing cybersecurity solutions to help businesses tackle vulnerability issues and ransomware threats.

Okta, Inc. (NASDAQ: OKTA), a leader in identity solutions, announced participation in upcoming investor conferences. Co-founder and CEO Todd McKinnon will present at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2022. Additionally, Eugenio Pace, CEO of Auth0, will present at the Wolfe Research Software March Madness Conference on March 23, 2022. Both events will be webcast live on Okta's investor relations website, with replays available afterward. Okta serves over 15,000 organizations worldwide, offering reliable identity management solutions.

Okta reported a 63% year-over-year revenue growth for Q4, totaling $383 million, with subscription revenue up 64%. Full fiscal 2022 revenue reached $1.30 billion (+56%), driven by a 50% increase in Remaining Performance Obligations (RPO) to $2.69 billion. However, the company reported a GAAP net loss of $241 million in Q4, compared to $76 million the previous year. The FY23 outlook projects revenue of $1.78-1.79 billion, indicating a growth rate of 37%-38%.

Okta has announced the launch of Credential Guard, a new security feature from its Auth0 product unit designed to enhance protection against account takeover attacks. This feature supports over 35 languages and is activated globally across 200+ countries. It improves breach detection efficacy by a minimum of 250% compared to previous methods, enabling organizations to reset stolen passwords faster. Credential Guard is available as an Enterprise Add-on for Auth0 customers, significantly aiding in the prevention of fraudulent access to user accounts.

Okta, Inc. (NASDAQ: OKTA) is set to release its financial results for the fourth quarter and fiscal year 2022 on March 2, 2022, after U.S. market close. The results will be discussed in a live video webcast at 2:00 p.m. PST (5:00 p.m. EST). This release marks an important moment for investors as it covers the company’s performance through January 31, 2022. Okta is recognized as a top independent identity provider, offering secure access to applications for over 14,000 organizations worldwide. A replay of the webcast will be available on their investor relations website.

Okta, Inc. (Nasdaq: OKTA) has appointed Brett Tighe as the new Chief Financial Officer, effective immediately. Tighe, who has been with Okta for nearly seven years and served as interim CFO since June 2021, aims to drive the company towards achieving its financial goals, including a target of $4 billion in revenue and a 20% free cash flow margin by fiscal 2026. CEO Todd McKinnon praised Tighe's contributions to the organization. As CFO, Tighe will oversee various functions, including accounting and financial planning.

Okta, through its product unit Auth0, released the 2022 Public Sector Identity Index, a global report analyzing the identity maturity of public sector organizations. The report reveals that only 17% of respondents are confident in their authentication security. Additionally, 86% of citizens primarily use username/password for authentication, while 41% of governments are building in-house Identity and Access Management (IAM) solutions. Most respondents aim to expand digital services over the next two years, emphasizing the importance of protecting citizen data.

Okta, Inc. (NASDAQ: OKTA), a leading independent identity provider, announces that Eugenio Pace, Co-founder and CEO of Auth0, will present at the 24th Annual Needham Growth Conference on January 12, 2022. The presentation will be available via live webcast on Okta's investor relations website, with a replay accessible afterward. Okta's Identity Cloud connects over 14,000 organizations securely, including notable clients like JetBlue and Slack. For more information, visit investor.okta.com.