NASDAQ$OKTA
Okta Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Okta's Q4 2023 financial performance showed revenue growth and improved go-to-market execution.
Okta reported a 33% year-over-year increase in Q4 revenue, reaching $510 million. Subscription revenue grew by 34% year-over-year. The company's operating cash flow was $76 million, and free cash flow was $72 million.
- Total revenue was $510 million, up 33% year-over-year.
- Subscription revenue reached $495 million, a 34% increase year-over-year.
- Current remaining performance obligations (cRPO) grew 25% year-over-year to $1.68 billion.
- The company had a record operating cash flow of $76 million and free cash flow of $72 million.
Headline financials
Revenue & EPS history
Okta · Revenue · Quarterly
$510M
Revenue by segment
Okta · $510M total across 2 segments · Q4 2023
- Subscription$495M+34.0%97.1%
- Professional services and other$15M+9.6%2.9%
Forward guidance
For Q1 2024, Okta expects revenue between $509 million and $511 million, cRPO between $1.675 billion and $1.685 billion, non-GAAP operating income between $18 million and $20 million, and non-GAAP diluted net income per share between $0.11 and $0.12. For FY 2024, Okta expects revenue between $2.155 billion and $2.170 billion, non-GAAP operating income between $136 million and $145 million, and non-GAAP diluted net income per share between $0.74 and $0.79.
Tailwinds
- Total revenue of $509 million to $511 million, representing a growth rate of 23% year-over-year
- Current RPO of $1.675 billion to $1.685 billion, representing a growth rate of 19% year-over-year
- Non-GAAP operating income of $18 million to $20 million
- Non-GAAP diluted net income per share of $0.11 to $0.12
- Total revenue of $2.155 billion to $2.170 billion, representing a growth rate of 16% to 17% year-over-year
Headwinds
- Non-GAAP operating income of $136 million to $145 million
- Non-GAAP diluted net income per share of $0.74 to $0.79
- These statements are forward-looking and actual results may differ materially.
- Okta has not reconciled its expectations as to non-GAAP operating income and non-GAAP net income per share to their most directly comparable GAAP measures because certain items are out of Okta’s control or cannot be reasonably predicted.
- Accordingly, reconciliations for forward-looking non-GAAP operating income and non-GAAP net income per share are not available without unreasonable effort.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+2.3%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+0.4%
Avg return
30 days after
58%
21 / 36 earnings
Positive
+31.6%
Q3 2023
Best reaction
-33.5%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +11.0% | +11.0% | +11.8% | |
| Q3 2026 | +5.3% | +6.6% | +2.2% | |
| Q2 2026 | +1.4% | +1.3% | -0.4% | |
| Q1 2026 | -16.1% | -16.5% | -21.6% | |
| Q4 2025 | +24.3% | +29.0% | +15.0% | |
| Q3 2025 | +6.5% | +4.9% | -2.5% | |
| Q2 2025 | -18.0% | -18.8% | -23.7% | |
| Q1 2025 | -7.6% | -8.0% | -2.6% | |
| Q4 2024 | +23.5% | +25.7% | +20.4% | |
| Q3 2024 | -7.7% | -0.2% | +24.7% | |
| Q2 2024 | +16.2% | +19.9% | +13.4% | |
| Q1 2024 | -17.1% | -20.1% | -23.0% | |
| Q4 2023 | +13.5% | +18.0% | +21.0% | |
| Q3 2023 | +31.6% | +20.9% | +33.3% | |
| Q2 2023 | -33.5% | -29.1% | -37.6% | |
| Q1 2023 | +16.5% | +18.1% | +13.7% | |
| Q4 2022 | -8.8% | -16.2% | -19.2% | |
| Q3 2022 | +2.8% | +1.2% | +4.2% | |
| Q2 2022 | +3.1% | +2.6% | -9.7% | |
| Q1 2022 | -8.9% | -8.9% | +0.8% | |
| Q4 2021 | -12.7% | -19.5% | -11.3% | |
| Q3 2021 | +2.3% | +3.8% | +7.3% | |
| Q2 2021 | -7.2% | +0.2% | -3.5% | |
| Q1 2021 | +9.0% | +11.3% | +13.4% | |
| Q4 2020 | -4.1% | -9.2% | -9.4% | |
| Q3 2020 | -2.9% | -1.8% | -2.9% | |
| Q2 2020 | -5.8% | -6.3% | -28.1% | |
| Q1 2020 | +7.3% | +8.1% | +17.1% | |
| Q4 2019 | -1.9% | +0.8% | +8.6% | |
| Q3 2019 | +10.4% | +6.4% | +4.1% | |
| Q2 2019 | +20.1% | +21.7% | +8.7% | |
| Q1 2019 | -6.8% | -5.4% | -3.7% | |
| Q4 2018 | +11.5% | +3.8% | +1.1% | |
| Q3 2018 | +2.9% | -6.6% | -6.4% | |
| Q2 2018 | +12.1% | +8.8% | +3.6% | |
| Q1 2018 | +9.3% | -4.2% | -5.8% | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — |
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