Short answer
Okta Inc (OKTA) filed its fiscal 2018 10-K annual report with the SEC on Mar 12, 2018. It reported revenue of $257M (+59.5% year over year) and net income of −$114M.
- Top risk flagged: GDPR effective May 25, 2018, with penalties up to €20 million or 4% of worldwide annual turnover
FY2018 key financial metrics · XBRL
- Revenue
- $257M
- +59.5% YoY
- Net income
- −$114M
- −36.9% YoY
- Operating margin
- -45.4%
- +6.3 pp YoY
- Gross margin
- 69.9%
- +5.0 pp YoY
- ROE
- -69.9%
- −104.2 pp YoY
- Operating cash flow
- −$25M
- +40.0% YoY
Source: XBRL data from the Okta Inc (OKTA) FY2018 10-K on SEC EDGAR. USD.
Okta Inc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- SaaS identity platform, monetizing multi-year subscriptions for workforce, customer and partner access management
- Adaptive Multi-Factor Authentication became standard in late 2017, strengthening contextual, risk-based security positioning
- Mobility Management investment ceased in late 2017, shifting focus toward mobile access management within Sign-On
- Customer base exceeded 4,350, with 5,500-plus integrations as of January 31, 2018
- International revenue reached 15%, up from 13%, while R&D spending rose to $70.8 million from $38.7 million
Management Discussion & Analysis
- Revenue $260.0M, up 62% YoY, driven by subscription revenue $239.2M, up 67%
- Net loss $114.4M, operating margin (45)% vs (52)%, subscription gross margin 78% vs 76%
- Best segment: subscription revenue $239.2M, 78% gross margin; weakest: professional services, $(7.5)M gross profit, (36)% margin
- Operating cash use $25.2M, free cash flow $(37.2)M, capex $6.6M, software capitalization $5.4M
- IPO proceeds $200.0M, liquidity $229.7M; continued losses and negative operating cash flow expected**
Risk Factors
- GDPR effective May 25, 2018, with penalties up to €20 million or 4% of worldwide annual turnover
- International revenue 15% in fiscal 2018, exposed to Brexit-related UK volatility and European economic weakness
- AWS-hosted infrastructure concentration, with termination possible on 30 days’ notice
- Competition from Microsoft, IBM, Oracle, AWS and Google Cloud Platform identity offerings
- $345 million 0.25% convertible notes due 2023, creating cash-settlement and dilution risk
Generated from the filing text; verify against the original. How to read a 10-K
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