Okta Inc.
Okta Announces Fourth Quarter and Fiscal Year 2024 Financial Results
Summary
Okta, Inc. reported a 19% year-over-year increase in total revenue for the fourth quarter of fiscal 2024, reaching $605 million. Subscription revenue grew by 20% to $591 million. The company's current remaining performance obligations (cRPO) increased by 16% to $1.952 billion. Okta achieved record operating cash flow of $174 million and free cash flow of $166 million for the quarter. For the full fiscal year 2024, total revenue was $2.263 billion, a 22% increase from the previous year. The company also provided financial guidance for fiscal 2025, expecting total revenue between $2.495 billion and $2.505 billion, representing a growth rate of 10% to 11% year-over-year.
Profitelligence Alerts
Get alerts for OKTA
Be first to know when Okta Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Okta Inc.
Okta Inc. is a leading provider of identity and access management solutions, enabling organizations to securely connect the right people to the right technologies at the right time. Founded in 2009, Okta serves a wide range of industries including healthcare, financial services, technology, and government, providing seamless and secure interactions between users and their increasingly complex IT environments. One of Okta's core offerings is its cloud-based platform, which helps manage and secure user authentication and access across applications, integrating with numerous enterprise systems and services. The platform's versatility supports single sign-on, multi-factor authentication, and API security, enhancing productivity and security simultaneously. Based in San Francisco, California, Okta plays a significant role in the growing cybersecurity and tech ecosystem by addressing the critical need for robust identity management solutions in a digitally evolving world. Its innovative products and services meet the demands of digital transformation, offering organizations the ability to optimize workforce efficiency while ensuring rigorous security measures.
Official SEC Documents
Advertisement