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Okta: Fiscal Q4 Earnings Snapshot

·1 min read
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SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $75.8 million in its fiscal fourth quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 58 cents. Earnings, adjusted for stock option expense and amortization costs, were 6 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The cloud identity management company posted revenue of $234.7 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $221.9 million.

For the year, the company reported that its loss widened to $266.3 million, or $2.09 per share. Revenue was reported as $835.4 million.

For the current quarter ending in May, Okta expects its results to range from a loss of 21 cents per share to a loss of 20 cents per share.

The company said it expects revenue in the range of $237 million to $239 million for the fiscal first quarter.

Okta expects full-year results to range from a loss of 49 cents per share to a loss of 44 cents per share, with revenue ranging from $1.08 billion to $1.09 billion.

Okta shares have decreased 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $241.22, a climb of 84% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OKTA at https://www.zacks.com/ap/OKTA