Okta delivers upbeat guidance, better-than-expected Q4 results; shares jump

Invesitng.com -- Okta on Monday delivered upbeat guidance following fourth-quarter results that topped Wall Street estimates amid growing cybersecurity demand.

Okta Inc (NASDAQ: OKTA) was up 15% in recent afterhours trading following the report.

For the three months ended Jan. 31, the company reported adjusted earnings per diluted share of $0.78 on revenue of $682 million, beating estimates for $0.74 on $668.9M.

For the current quarter, adjusted per-share ent income, which strip out one-time items, is seen at $0.76 to 0.77, beating Wall Street projections of $0.7. Revenue of $678M to $680M was also above the $669.4M called for by analysts. Current remaining performance obligations, or cRPO, a gauge of booked revenue over the next 12 months for Q1 was seen $2.185B to $2.190B, representing a growth rate of 12% year-over-year.

Looking further ahead, the company forecast non-GAAP diluted net income per share was seen in a range of $3.15 to $3.20 on revenue of $2.850B to $2.860B.

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