Okta earnings Q3 2017 | Bullionist

Okta had a clear beat throughout the board for its third quarter earnings Wednesday, sending its replenish by as a lot as 4 p.c in after hours buying and selling.

Listed here are crucial numbers:

  • Income: $68.2 million vs. $62.eight million estimated, in keeping with Thomson Reuters
  • EPS: 19 cent loss vs. 24 cent loss estimated, in keeping with Thomson Reuters

Okta makes id administration software program that lets staff of corporations log into totally different cloud apps with out having to make use of a bunch of various usernames and passwords. Since going public in April, its inventory has jumped nearly 70 p.c.

Income grew 61 p.c from the identical quarter of final 12 months, on the again of huge buyer wins at Caesars Leisure, Nordstrom and CBRE. The corporate was additionally named as one of many leaders in Forrester’s Identification-as-a-service report this quarter.

Web loss widened to $33.eight million within the third quarter, whereas its free money circulation stay adverse at $11.2 million. The corporate nonetheless has $223.6 million of money on its stability sheet.

Okta gave fourth quarter income steering within the vary of $70 million to $71 million, far exceeding FactSet’s $67.9 million road consensus.

Moreover, Okta revealed plans for a transfer to a brand new headquarters in San Francisco. The brand new workplace, positioned within the SoMa district of San Francisco, will take up 207,000 sq. toes of area and open within the second quarter of 2018.

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