Okta Inc. (OKTA)

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Okta FQ4 results beat estimates, co guides FY 2024 total revenue in-line
By: Seeking Alpha | March 1, 2023

• Okta (NASDAQ:OKTA): FQ4 Non-GAAP EPS of $0.30 beats by $0.21.
• Revenue of $510M (+33.2% Y/Y) beats by $20.42M.
• Subscription revenue was $495 million, an increase of 34% year-over-year.
• RPO, or subscription backlog, was $3.01 billion, an increase of 12% year-over-year.
• , which is contracted subscription revenue expected to be recognized over the next 12 months, was $1.68 billion, up 25% compared to the fourth quarter of fiscal 2022.
• Total calculated billings was $710 million, an increase of 18% year-over-year.
• Sees FQ1 2024 total revenue of $509 million to $511 million. The consensus FQ1 2024 revenue estimate is $498.26M.
• Sees FQ1 2024 non-GAAP diluted net income per share of $0.11 to $0.12. The consensus FQ1 2024 EPS estimate is -$0.01.
• Sees FY 2024 total revenue of $2.155 billion to $2.170 billion. The consensus FY 2024 revenue estimate is $2.17B.
• Sees FY 2024 non-GAAP diluted net income per share of $0.74 to $0.79. The consensus FY 2024 EPS estimate is $0.31.

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