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Okta, Inc. (Symbol: OKTA) is the leading independent provider of identity solutions for enterprises. Headquartered in San Francisco, Okta operates globally, ensuring the security and efficiency of digital interactions for many of the world's largest companies. The core of Okta's business lies in its Okta Identity Cloud, which connects and protects employees, partners, suppliers, and customers. With deep integrations to over 5,000 applications, the Okta Identity Cloud enables secure and seamless access from any device.
Okta serves thousands of customers, including notable names like Experian, 20th Century Fox, LinkedIn, Flex, News Corp, Dish Networks, and Adobe. These clients trust Okta to enhance productivity, boost revenue, and maintain robust security measures. The company's solutions cater to two key stakeholder groups: workforces and customers. For workforces, Okta provides secure access to both cloud-based and on-premises resources, ensuring that employees can work efficiently and safely. For customers, Okta ensures secure access to their clients' applications, fostering trust and reliability.
Okta has consistently achieved significant milestones since going public in 2017. The firm's financial condition remains strong, backed by strategic partnerships and continuous innovation in identity and access management. Recent projects focus on expanding the capabilities of the Okta Identity Cloud, enhancing user experience, and incorporating the latest security advancements.
Committed to helping organizations fulfill their missions faster, Okta’s technology is designed to be intuitive and secure. The company’s cloud-native approach positions it as a forward-thinking leader in the cybersecurity space, adapting rapidly to the evolving digital landscape.
Stay updated with the latest developments and news about Okta, Inc. by following the most recent updates:
- Article on Okta's recent security advancements
- Interview with Okta's CEO on future directions
- Partnership announcement with a major tech firm
- Quarterly financial performance report
- Case study on Okta's impact on a leading enterprise
Okta reported a strong Q3 for fiscal 2023, with total revenue reaching $481 million, marking a 37% increase year-over-year. Subscription revenue also saw a substantial rise of 38%, totaling $466 million. Remaining performance obligations (RPO) grew by 21% to $2.85 billion, while current RPO (cRPO) surged 34% to $1.58 billion. However, the company experienced a GAAP operating loss of $207 million, improving from $221 million the previous year. For Q4, Okta projects a revenue of $488 million to $490 million.
Okta, Inc. (NASDAQ: OKTA) has launched Okta for US Military, a new IL4 identity environment specifically designed for the Department of Defense (DoD) and mission partners. The solution, hosted on the .mil domain, aims to secure the identities of almost 3 million DoD personnel. It supports DoD's modernization and Zero Trust security capabilities by managing Controlled Unclassified Information (CUI). Built on Amazon Web Services (AWS) GovCloud, this platform enables secure access to mission-critical resources.
Okta, the leading independent identity provider, has unveiled new innovations for its Workforce Identity Cloud at Oktane22. The updates include advanced governance and access capabilities, enhanced anti-phishing tools, and a unified platform for managing identities across diverse environments. With over 60% of breaches linked to credential abuse, Okta's new features aim to bolster security for employees, contractors, and partners. The company emphasizes a cohesive identity approach that streamlines user experience while enhancing security for enterprises.
Okta, Inc. (NASDAQ: OKTA) announced the launch of the Okta Customer Identity Cloud at Oktane22, enhancing customer experiences and security for modern application developers. This solution addresses user experience, security, and privacy challenges faced by organizations. Key innovations include support for passkeys, an advanced security Security Center, and tools for managing identities in SaaS Apps. These features aim to improve user acquisition, retention, and overall revenue generation, solidifying Okta's market position.
Okta, a leading independent identity provider, has been recognized as a Leader for the sixth consecutive year in the 2022 Gartner Magic Quadrant for Access Management. It achieved the highest marks for Ability to Execute among all vendors for the second year running. The report assessed nine vendors on 15 criteria, confirming Okta's status in the Leaders Quadrant. This recognition reflects Okta's commitment to customer success and innovation, positioning it as a key enabler for businesses aiming for growth in a digital landscape.
Okta, Inc. has announced it will host the Opening Keynote of Oktane22 and its Investor Day on November 9, 2022. The company's financial results for the third quarter of fiscal year 2023, ending October 31, 2022, will be released on November 30, 2022, after market close. The webcast events will be accessible on the Okta investor relations website. Keynote starts at 9:00 a.m. PT, followed by Investor Day at 12:00 p.m. PT, with financial results at 2:00 p.m. PT.
On September 15, 2022, Recorded Future announced an integration with Okta, enhancing its Intelligence Cloud capabilities. This integration emphasizes automated detection and remediation of identity compromises before they can be exploited. Key features include improved incident response times, resource optimization, and adherence to NIST password practices. This partnership aims to bolster security measures for enterprises adopting an identity-first approach, addressing the growing need for advanced threat intelligence solutions.
Okta has entered a memorandum of understanding with NetHope and USAID to establish the Global Humanitarian Information Sharing and Analysis Center (ISAC). This initiative aims to bolster cybersecurity for humanitarian organizations amid increasing cyber threats, particularly since the COVID-19 pandemic. The ISAC will enhance collaboration between technology firms and nonprofits, focusing on training, risk identification, and resource sharing. The partnership is supported by the CyberPeace Institute, emphasizing the critical need for improved cyber resilience in humanitarian efforts.
Okta, Inc. (NASDAQ: OKTA), a leading independent identity provider, announces participation in upcoming investor conferences. CFO Brett Tighe will present at Citi's 2022 Global Technology Conference on September 8, 2022, while CEO Todd McKinnon will present at the Goldman Sachs Communacopia + Technology Conference on September 12, 2022. Attendees can access live webcasts of the presentations on Okta's investor relations website, with replays available afterward. Over 16,400 organizations trust Okta for secure identity management.
Okta reported strong Q2 results for fiscal 2023, with total revenue of $452 million, a 43% year-over-year increase. Subscription revenue reached $435 million, growing 44% year-over-year. Remaining performance obligations (RPO) grew by 25% to $2.79 billion, and current RPO (cRPO) increased 36% to $1.50 billion. Despite a GAAP operating loss of $208 million, the loss margin improved significantly from 83% to 46%. The company anticipates Q3 revenue between $463 million and $465 million, reflecting a 32% to 33% growth rate.
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