Okta Inc ( OKTA ) reported fourth-quarter financial results after the market close on Monday. Here’s a look at the key metrics from the quarter.
Q4 Earnings: Okta ( OKTA ) reported fourth-quarter revenue of $682 million, beating analyst estimates of $669.46 million, according to Benzinga Pro. The cloud-native cybersecurity company reported adjusted earnings of 78 cents per share, beating analyst estimates of 74 cents per share.
Total revenue and subscription revenue were both up 13% on a year-over-year basis. Remaining performance obligations totaled $4.215 billion at quarter's end, up 25% year-over-year.
Net cash provided by operations was $286 million, up from $174 million in the prior year’s quarter. The company generated free cash flow of $284 million in the quarter, up from $166 million year-over-year. Okta ( OKTA ) ended the quarter with $2.523 billion in cash, cash equivalents and short-term investments.
“Okta’s strong financial results were highlighted by accelerating RPO and cRPO, coupled with record profitability and cash flow,” said Todd McKinnon, co-founder and CEO of Okta ( OKTA ).
“In a rapidly evolving IT and security landscape, organizations are turning to Okta ( OKTA ) as their identity partner for our ability to deliver the broadest array of modern identity security with the flexibility to meet their demands.”
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Outlook: Okta ( OKTA ) expects first-quarter revenue to be in the range of $678 million to $680 million versus estimates of $670.81 million. The company anticipates first-quarter adjusted earnings of 76 to 77 cents per share versus estimates of 70 cents per share.
Okta ( OKTA ) expects full-year 2026 revenue to be in the range of $2.85 billion to $2.86 billion versus estimates of $2.8 billion. The company expects full-year adjusted earnings of $3.15 to $3.20 per share versus estimates of $2.94 per share.
“We’re entering the new fiscal year laser focused on serving our customers with even more innovation on the Okta ( OKTA ) and Auth0 platforms while further elevating the industry with the Okta Secure Identity Commitment,” McKinnon said.
Okta ( OKTA ) also announced that it passed $1 billion in total sales on the Amazon Web Services (AWS) Marketplace in January. The company first listed its secure identity solutions in AWS Marketplace in December 2020.
Okta ( OKTA ) executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.
OKTA Price Action: Okta ( OKTA ) shares were up 11.3% after hours, trading at $98.58 at the time of publication Monday, according to Benzinga Pro.