Okta, Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Okta, Inc. has submitted its 2024 Form 10-K detailing its fiscal year operations and financial standing.</b>

AI Summary

Okta, Inc. (OKTA) filed a Annual Report (10-K) with the SEC on March 1, 2024. Okta, Inc. filed its annual report on Form 10-K for the fiscal year ended January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. Okta is classified under SIC code 7372 for Prepackaged Software. The company's principal executive offices are located at 100 First Street, Suite 600, San Francisco, CA 94105. The filing was made with the SEC on March 1, 2024.

Why It Matters

For investors and stakeholders tracking Okta, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Okta's business, financial condition, and results of operations for the fiscal year ended January 31, 2024, which is crucial for investors to assess the company's performance and future prospects. The detailed financial information and risk factors disclosed in this report are essential for stakeholders to understand the company's strategic direction, competitive landscape, and potential challenges in the identity and access management market.

Risk Assessment

Risk Level: medium — Okta, Inc. shows moderate risk based on this filing. The company operates in the highly competitive identity and access management sector, facing risks related to technological advancements, cybersecurity threats, and customer retention, as detailed in its risk factors section.

Analyst Insight

Investors should review Okta's detailed financial statements and risk disclosures in the 10-K to evaluate its growth strategies and competitive positioning.

Revenue Breakdown

Key Numbers

• 2024-01-31 — Fiscal Year End (The end date of the reporting period)
• 2024-03-01 — Filing Date (Date the 10-K was filed)
• 7372 — SIC Code (Standard Industrial Classification for Prepackaged Software)

Key Players & Entities

• Okta, Inc. (company) — Filer of the 10-K report
• 100 First Street, Suite 600, San Francisco, CA 94105 (location) — Business and mailing address
• SEC (regulator) — Regulatory body receiving the filing
• 2024-01-31 (date) — Fiscal year end date
• 2024-03-01 (date) — Filing date

FAQ

Risk Factors

• Competitive Landscape [high — market]: Okta operates in a highly competitive market for identity and access management solutions, facing competition from established players and emerging companies.
• Cybersecurity Risks [high — operational]: The company is subject to risks associated with data breaches and cybersecurity incidents, which could impact its reputation and customer trust.
• Profitability and Growth [medium — financial]: Sustaining profitability and achieving continued growth in a dynamic market presents ongoing financial challenges.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-01: Filing Date — Date Okta, Inc. submitted its 10-K to the SEC.

Key Financial Figures

• $0.0001 — tered) Class A common stock, par value $0.0001 per share OKTA The Nasdaq Stock Marke
• $76.86 — y 31, 2023 (based on a closing price of $76.86 per share) held by non-affiliates was a

Filing Documents

• okta-20240131.htm (10-K) — 2129KB
• okta-1312024_ex211.htm (EX-21.1) — 5KB
• okta-1312024_ex231.htm (EX-23.1) — 6KB
• okta-1312024_ex311.htm (EX-31.1) — 9KB
• okta-1312024_ex312.htm (EX-31.2) — 9KB
• okta-1312024_ex321.htm (EX-32.1) — 7KB
• okta-1312024_ex971.htm (EX-97.1) — 30KB
• okta-20240131_g1.jpg (GRAPHIC) — 103KB
• 0001660134-24-000025.txt (&nbsp;) — 10425KB
• okta-20240131.xsd (EX-101.SCH) — 54KB
• okta-20240131_cal.xml (EX-101.CAL) — 108KB
• okta-20240131_def.xml (EX-101.DEF) — 355KB
• okta-20240131_lab.xml (EX-101.LAB) — 890KB
• okta-20240131_pre.xml (EX-101.PRE) — 596KB
• okta-20240131_htm.xml (XML) — 1387KB

Risk Factors

Risk Factors 16 Item 1B. Unresolved Staff Comments 48 I tem 1C. Cybersecurity 48 Item 2.

Properties

Properties 50 Item 3.

Legal Proceedings

Legal Proceedings 51 Item 4. Mine Safety Disclosures 51 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52 Item 6. [ Reserved ] 54 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 55 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 107 Item 9A.

Controls and Procedures

Controls and Procedures 107 Item 9B. Other Information 107 I tem 9C. Disclosure Regarding Foreign Ju risdictions that Prevent Inspections 107 Part III Item 10. Directors, Executive Officers and Corporate Governance 108 Item 11.

Executive Compensation

Executive Compensation 108 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 108 Item 13. Certain Relationships and Related Transactions, and Director Independence 108 Item 14. Principal Accountant Fees and Services 108 Part IV Item 15. Exhibits and Financial Statement Schedules 108 Item 16. Form 10-K Summary 108 Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product development, business strategy, plans, market trends, opportunities and positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements include these identifying words. The forward-looking statements are contained principally in "Management's Discussion and Analysis of Financial Condition and Result of Operations" and "Risk Factors." Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our revenue, costs of revenue, gross profits, margins and operating expenses; the impact of general economic, business and market conditions, including general economic downturn or recession, market volatility, and the inflation and interest rate environment; trends in our key business metrics;

Business

Item 1. Business Overview Okta is the leading independent identity partner. Our vision is to free everyone to safely use any technology, and we believe identity is the key to making that happen. Our purpose is to bring simple and secure digital access to people and organizations everywhere. Our Workforce Identity Cloud and Customer Identity Cloud, powered by Auth0, enable our customers to securely connect the right people to the right technologies and services at the right time. The acceleration of digital transformation, cloud adoption and the evolving security threat landscape are driving a shift in how organizations securely manage the identity of their employees, contractors and partners on the internet. At the same time, changing consumer expectations favoring simple, secure digital experiences are driving the adoption of new consumer identity technologies. Our Workforce Identity Cloud and Customer Identity Cloud help organizations effectively harness the power of cloud, mobile and web technologies by securing users and connecting them with the applications and technology they use. Every day, thousands of organizations and millions of people use Okta to securely access a wide range of cloud, mobile, web and Software-as-a-Service ("SaaS") applications, on-premises servers, application programming interfaces ("APIs"), IT infrastructure providers, and services from a multitude of devices. Employees and contractors sign into Workforce Identity Cloud to seamlessly and securely access the applications they need to do their most important work. Organizations use our platform to collaborate with their partners and to provide their customers with more modern and secure experiences in the cloud and via mobile devices. Developers leverage our Customer Identity Cloud and Workforce Identity Cloud to securely and efficiently embed identity into the software they build, allowing them to innovate and focus on their core mission. Our approach to customer identity provides or

View Full Filing

View this 10-K filing on SEC EDGAR