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Okta 8-K Report, Financial Results (Mar 3, 2025)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed March 3, 2025
Period End
March 3, 2025
Security
OKTA
In the record · 2017–202610-K910-Q298-K83

OKTA filed 9 annual reports (10-K), 29 quarterly reports (10-Q) and 83 current reports (8-K) between 2017 and 2026.

  1. Material agreement8-K · Feb ’18Feb ’18
  2. Material agreement8-K · Mar ’21Mar ’21
  3. Leadership change8-K · Apr ’23Apr ’23
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed March 3, 2025. Cited figures are marked; the original filing is the authoritative source.

Okta, Inc. filed this Form 8-K on March 3, 2025 to furnish a press release (Exhibit 99.1) announcing financial results for the fiscal fourth quarter and fiscal year ended January 31, 2025.

For Q4, total revenue was $682 milliona, up 13% year-over-year, and subscription revenue was $670 million, also up 13%. Remaining performance obligations (RPO) were $4.215 billion, up 25%, and current RPO (cRPO) was $2.248 billion, up 15%. GAAP operating income was $8 million compared with a GAAP operating loss of $83 million a year earlier, while non-GAAP operating income was $168 million, or 25% of total revenue.

Net cash provided by operations was $286 millionb and free cash flow was $284 million for the quarter. For fiscal 2025, total revenue was $2.610 billion, up 15%, and subscription revenue was $2.556 billion, up 16%. GAAP operating loss narrowed to $74 million from $516 million, and GAAP net income was $28 million, versus a net loss of $355 million in fiscal 2024.

Non-GAAP operating income was $587 millionc, or 22% of total revenue, and free cash flow was $730 million, or 28% of total revenue. Cash, cash equivalents and short-term investments totaled $2.523 billion at January 31, 2025. For fiscal 2026, Okta guided to total revenue of $2.850 billion to $2.860 billion (9% to 10% growth), non-GAAP operating income of $705 million to $715 million (25% margin), and non-GAAP diluted EPS of $3.15 to $3.20.

Management described the guidance as prudent and factoring in its previously announced go-to-market specialization. The first-quarter outlook calls for revenue of $678 million to $680 milliond (10% growth) and non-GAAP diluted EPS of $0.76 to $0.77, with approximately $11 million of cash restructuring payments expected in the quarter.

02—Key points

Key Highlights

  1. Q4 FY2025 total revenue of $682 million, up 13% year-over-year; subscription revenue of $670 million, up 13%.
  2. RPO grew 25% year-over-year to $4.215 billion; cRPO grew 15% to $2.248 billion.
  3. Q4 GAAP operating income of $8 million, versus a $83 million GAAP operating loss a year earlier; non-GAAP operating income of $168 million (25% of revenue).
  4. Full-year FY2025 GAAP net income of $28 million, compared with a GAAP net loss of $355 million in fiscal 2024.
  5. Q4 operating cash flow of $286 million and free cash flow of $284 million; full-year free cash flow of $730 million (28% of revenue).
  6. FY2026 guidance: total revenue of $2.850 billion to $2.860 billion (9% to 10% growth) and non-GAAP diluted EPS of $3.15 to $3.20.
  7. Q1 FY2026 guidance: total revenue of $678 million to $680 million (10% growth) and non-GAAP diluted EPS of $0.76 to $0.77.

03—Questions

Frequently Asked Questions

  1. How did Okta perform in the fourth quarter of fiscal 2025?

    Total revenue was $682 million, up 13% year-over-year, and subscription revenue was $670 million, also up 13%. GAAP operating income was $8 million, compared with a GAAP operating loss of $83 million in the prior-year quarter, and non-GAAP operating income was $168 million, or 25% of total revenue.

  2. What were Okta's full-year fiscal 2025 results?

    Total revenue was $2.610 billion, up 15%, and subscription revenue was $2.556 billion, up 16%. GAAP net income was $28 million, compared with a GAAP net loss of $355 million in fiscal 2024. Free cash flow was $730 million, or 28% of total revenue.

  3. What is Okta's guidance for fiscal 2026?

    Okta expects total revenue of $2.850 billion to $2.860 billion, representing 9% to 10% growth, and non-GAAP operating income of $705 million to $715 million, a 25% non-GAAP operating margin. It expects non-GAAP diluted EPS of $3.15 to $3.20 and a non-GAAP free cash flow margin of approximately 26%. Management said the outlook factors in its previously announced go-to-market specialization.

  4. How did remaining performance obligations and cRPO trend?

    RPO, or subscription backlog, was $4.215 billion, up 25% year-over-year. cRPO, the portion expected to be recognized over the next 12 months, was $2.248 billion, up 15%. Okta guided first-quarter fiscal 2026 cRPO to $2.185 billion to $2.190 billion, representing 12% growth.

  5. What did Okta say about its liquidity and convertible notes?

    Cash, cash equivalents and short-term investments were $2.523 billion at January 31, 2025. Current convertible senior notes, net, were $509 million and noncurrent convertible senior notes, net, were $349 million on the balance sheet, and the cash flow statement shows $280 million in payments for repurchases of convertible senior notes during fiscal 2025.

04—Continue

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