Okta Files 8-K on Financial Condition & Other Events

TL;DR

**Okta filed a routine 8-K, confirming its corporate details and reporting compliance.**

AI Summary

Okta, Inc. filed an 8-K on February 1, 2024, to report its financial condition and other events. This filing confirms Okta's status as a Delaware-incorporated company with its Class A common stock, par value $0.0001 per share, traded on The Nasdaq Stock Market LLC under the symbol OKTA. This matters to investors because it's a routine but essential disclosure, confirming the company's operational and financial reporting compliance, which is a baseline expectation for any publicly traded stock.

Why It Matters

This filing is a standard disclosure, confirming Okta's adherence to SEC reporting requirements and providing basic company identification details for investors.

Risk Assessment

Risk Level: low — This 8-K is a standard, informational filing with no new material financial or operational disclosures that would introduce significant risk.

Analyst Insight

A smart investor would note this as a routine compliance filing, confirming basic company information, but would look for more detailed financial reports (like 10-K or 10-Q) for substantive investment decisions.

Key Numbers

• $0.0001 — Par Value per Share (The par value of Okta's Class A common stock, as stated in the filing.)

Key Players & Entities

• Okta, Inc. (company) — the registrant filing the 8-K
• Delaware (company) — state of incorporation for Okta, Inc.
• The Nasdaq Stock Market LLC (company) — exchange where Okta's Class A common stock is registered
• $0.0001 (dollar_amount) — par value per share of Okta's Class A common stock

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share OKTA The Nasdaq Stock Market
• $24 million — es that it will recognize approximately $24 million of restructuring charges in the fourth

Filing Documents

• okta-20240201.htm (8-K) — 25KB
• 0001660134-24-000005.txt ( ) — 148KB
• okta-20240201.xsd (EX-101.SCH) — 2KB
• okta-20240201_lab.xml (EX-101.LAB) — 24KB
• okta-20240201_pre.xml (EX-101.PRE) — 12KB
• okta-20240201_htm.xml (XML) — 3KB

02 - Results of Operations and Financial Condition

Item 2.02 - Results of Operations and Financial Condition Okta, Inc. (the "Company") reaffirms its financial guidance for the fourth quarter and fiscal year ending January 31, 2024, as provided in a press release issued November 29, 2023, that was previously furnished as Exhibit 99.1 to the Company's Form 8-K filed with the Securities and Exchange Commission on November 29, 2023. The Company plans to issue its fourth quarter fiscal 2024 results after the market closes on February 28, 2024.

01 - Other Events

Item 8.01 - Other Events On February 1, 2024, the Company announced to its employees a restructuring plan intended to improve operating efficiencies and strengthen the Company's commitment to profitable growth. The plan involves a reduction of the Company's workforce by approximately 400 full-time employees, or approximately 7%. In connection with the plan, the Company estimates that it will recognize approximately $24 million of restructuring charges in the fourth quarter of fiscal 2024 for future cash employee severance and benefits costs, which primarily will be paid in the first quarter of fiscal 2025. The Company also expects to record an insignificant adjustment to its stock-based compensation expense in the first quarter of fiscal 2025 related to equity compensation for employees who were terminated. The Company intends to exclude the charges associated with the plan from its non-GAAP financial measures. This current report on Form 8-K contains forward-looking statements, which are any predictions, projections or other statements about future events based on current expectations and assumptions that are subject to risks and uncertainties, which are described in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. The information furnished in the current report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing. SIGNATURE P

View Full Filing

View this 8-K filing on SEC EDGAR