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Apr 30, 2020
Okta Q1 2021 Earnings Report
Okta's first quarter results were strong, with revenue growth and improved operating profit outlook.
Key Takeaways
Okta reported a strong first quarter with revenue increasing 46% year-over-year. The company's subscription revenue also grew 48% year-over-year. Okta reaffirms revenue outlook and improves operating profit outlook for fiscal year 2021.
Total revenue was $182.9 million, up 46% year-over-year.
Subscription revenue was $173.8 million, up 48% year-over-year.
Remaining Performance Obligations (RPO) reached $1.24 billion, a 57% year-over-year increase.
GAAP net loss per share was $0.47, while non-GAAP net loss per share was $0.07.
Okta
Okta
Okta Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProf. Services & Other Revenue
CapyFin.com Forward Guidance
For the second quarter of fiscal 2021, Okta expects total revenue of $185 million to $187 million, representing a growth rate of 32% to 33% year-over-year. For the full year fiscal 2021, the Company now expects total revenue of $770 million to $780 million, representing a growth rate of 31% to 33% year-over-year.
Positive Outlook
- Total revenue of $185 million to $187 million, representing a growth rate of 32% to 33% year-over-year for Q2 2021.
- Non-GAAP operating loss of $5.0 million to $4.0 million for Q2 2021.
- Non-GAAP net loss per share of $0.02 to $0.01, assuming weighted shares outstanding of approximately 125 million for Q2 2021.
- Total revenue of $770 million to $780 million, representing a growth rate of 31% to 33% year-over-year for fiscal year 2021.
- Non-GAAP operating loss of $37.0 million to $30.0 million for fiscal year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income