Short answer
Okta Inc (OKTA) filed its fiscal 2019 10-K annual report with the SEC on Mar 14, 2019. It reported revenue of $399M (+55.6% year over year) and net income of −$125M.
- Top risk flagged: GDPR penalties up to €20 million or 4% of worldwide annual revenue, alongside EU-US data-transfer uncertainty after Schrems
FY2019 key financial metrics · XBRL
- Revenue
- $399M
- +55.6% YoY
- Net income
- −$125M
- −9.7% YoY
- Operating margin
- -30.0%
- +15.4 pp YoY
- Gross margin
- 71.6%
- +1.7 pp YoY
- ROE
- -49.7%
- +20.2 pp YoY
- Operating cash flow
- $15M
- +160.1% YoY
Source: XBRL data from the Okta Inc (OKTA) FY2019 10-K on SEC EDGAR. USD.
Okta Inc FY2019 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- SaaS identity platform, monetizing multi-year subscriptions through direct sales, channel partners and land-and-expand expansion
- Customer identity emphasized alongside workforce identity, extending Okta APIs into customer-facing applications
- Zero Trust positioning strengthened, with identity framed as the primary security layer amid cloud and infrastructure shifts
- Customer base exceeded 6,100, while integrations surpassed 6,000 as of January 31, 2019
- International revenue reached 16%, up from 15% in fiscal 2018; employee count totaled 1,561
Management Discussion & Analysis
- Revenue $399.3M, up 56% YoY, led by subscription revenue $370.9M, up 57%
- Subscription gross margin 79% vs 78%, professional services margin (27)% vs (40)%
- One reportable segment, subscription strongest at $370.9M; professional services and other $28.4M
- Operating cash flow $15.2M, free cash flow $(6.8)M, capex $19.8M, software capitalization $2.9M
- Cash and investments $563.8M; outlook for continued operating losses and negative operating cash flow, with additional financing risk
Risk Factors
- GDPR penalties up to €20 million or 4% of worldwide annual revenue, alongside EU-US data-transfer uncertainty after Schrems
- International revenue 16%, with U.K. Brexit uncertainty affecting customer spending, data protection rules and operating costs
- AWS-hosted infrastructure concentration, with termination on 30 days’ notice and potential platform outages
- Competition from Microsoft, AWS, Google Cloud Platform and Cisco’s Duo, with broader offerings and bundling advantages
- $345.0 million 2023 Notes, currently convertible through April 30, 2019, potentially requiring cash settlement despite ongoing losses
Generated from the filing text; verify against the original. How to read a 10-K
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