Okta Q3 2022 Earnings Report
Key Takeaways
Okta reported a strong third quarter with total revenue of $351 million, a 61% year-over-year increase. Subscription revenue grew by 63% year-over-year. The company also increased its revenue and operating profit outlook for fiscal year 2022.
Total revenue was $351 million, up 61% year-over-year.
Subscription revenue reached $337 million, a 63% increase year-over-year.
Remaining performance obligations (RPO) grew 49% year-over-year to $2.35 billion.
GAAP operating loss was $199 million, or 57% of total revenue.
Okta
Okta
Okta Revenue by Segment
Forward Guidance
Okta's financial outlook for the fourth quarter and full year fiscal 2022 includes the expected contribution from the acquisition of Auth0, net of purchase accounting adjustments.
Positive Outlook
- Total revenue of $358 million to $360 million, representing a growth rate of 53% year-over-year for Q4 2022.
- Total revenue of $1.275 billion to $1.277 billion, representing a growth rate of 53% year-over-year for fiscal year 2022.
Challenges Ahead
- Non-GAAP operating loss of $35 million to $34 million for Q4 2022.
- Non-GAAP net loss per share of $0.25 to $0.24, assuming weighted-average shares outstanding of approximately 154 million for Q4 2022.
- Non-GAAP operating loss of $85 million to $84 million for fiscal year 2022.
- Non-GAAP net loss per share of $0.53 to $0.52, assuming weighted-average shares outstanding of approximately 147 million for fiscal year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income