- Fiscal year 2018 total revenue grows 62% year-over-year; subscription revenue grows 67% year-over-year
- Q4 total revenue grows 59% year-over-year; subscription revenue grows 64% year-over-year
- Q4 operating cash flow margin improves 14 percentage points year-over-year; free cash flow margin improves 17 percentage points year-over-year
SAN FRANCISCO-- March 7, 2018--Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, today announced financial results for its fourth quarter and fiscal year ended January 31, 2018.
"We had a record quarter, highlighted by 64 percent subscription revenue growth, acceleration in new customer growth and a 17 percentage point year-over-year improvement in our free cash flow margin," said Todd McKinnon, chief executive officer of Okta. "The strength in our business was driven by more customers and larger deals as well as increased investments from our existing customers. As every organization modernizes its business, and has to do so more securely, we continue to gain traction. Identity is becoming a foundational technology, and organizations in every major industry are turning to Okta for our leadership. Looking forward, we are focused on increasing our share of IT security spend, taking early leadership in the customer identity market, and expanding our leverage with the Okta Integration Network."
Fourth Quarter Fiscal 2018 Financial Highlights:
- Revenue: Total revenue was $77.8 million, an increase of 59% year-over-year. Subscription revenue was $72.0 million, an increase of 64% year-over-year.
- Operating Loss: GAAP operatin