Okta Inc.

"For IT and security leaders, the Okta Platform governs the seamless and secure access by human users and non-human identities ('NHIs') to the applications they need to do their most important work. We are expanding these capabilities to include AI agents with the introduction of new product offerings currently in development and early access."

"Our Dollar-Based Net Retention Rate is primarily attributable to our healthy gross retention, an expansion of users and upselling additional solutions within our existing customers."

"We believe our existing cash and cash equivalents, our investments and cash provided by sales of our solutions will be sufficient to meet our short-term and long-term projected working capital and capital expenditure needs for the foreseeable future."

"Okta, Inc. is the leading independent identity partner. Our Okta Platform and Auth0 Platform enable our customers to securely connect the right people to the right technologies and services at the right time."

"For the three and nine months ended October 31, 2025, the increase in subscription revenue was primarily caused by volume-driven increases from new business, which includes new customers and sales of additional solutions to existing customers as reflected in our 106% dollar-based net retention rate"

"We expect our sales and marketing expenses will continue to be our largest operating expense category for the foreseeable future. We expect sales and marketing expenses as a percentage of total revenue to decrease as our total revenue grows."

"The decrease in our Dollar-Based Net Retention Rate as of July 31, 2025, compared to July 31, 2024, was primarily a result of the macroeconomic environment, with overall ACV from existing customers increasing at a slower rate in the current period."

"Our gross margin for subscription revenue improved to 80% for the three months ended July 31, 2025 compared to 78% for the three months ended July 31, 2024. The improvement was primarily driven by improved spend efficiency resulting in lower relative cost of subscription revenue."

"Future growth may be impacted by longer sales cycles, which we have experienced, which in turn, could result in delays in deals closing, creating near-term headwinds for cash flow, RPO and billings growth."

"The decrease in our Dollar-Based Net Retention Rate as of April 30, 2025, compared to April 30, 2024, was primarily a result of the macroeconomic environment, with overall ACV from existing customers increasing at a slower rate in the current period."

"The Company's gross margin for subscription revenue improved from 78% to 80% for the three months ended April 30, 2025 compared to the three months ended April 30, 2024. The increase was primarily driven by improved spend efficiency resulting in lower relative cost of subscription revenue."

"We believe our existing cash and cash equivalents, our investments and cash provided by sales of our solutions will be sufficient to meet our short-term and long-term projected working capital and capital expenditure needs for the foreseeable future."

"We have experienced revenue growth rates of 43%, 22% and 15% during fiscal 2023, 2024 and 2025, respectively."

"The decrease in our Dollar-Based Net Retention Rate as of January 31, 2025, compared to January 31, 2024, was primarily a result of the macroeconomic environment, with overall ACV from existing customers increasing at a slower rate in the current period."

"While we achieved profitability in fiscal 2025, we have incurred net losses of $355 million and $815 million in fiscal 2024 and 2023, respectively."

"For the three and nine months ended October 31, 2024, the increase in subscription revenue was primarily due to an increase in users and sales of additional products to existing customers and the addition of new customers, attributable to increased revenue from existing customers as reflected in our Dollar-Based Net Retention Rate of 108%."

"In the past, we have experienced cybersecurity incidents...that harmed our reputation and customer relations, adversely impacted our financial results and may create additional liabilities."

"Future growth may be impacted by longer sales cycles, which we have experienced, which in turn, could result in delays in deals closing, creating near-term headwinds for cash flow, RPO and billings growth."

"The decrease in our Dollar-Based Net Retention Rate as of July 31, 2024, compared to July 31, 2023, was primarily a result of the macroeconomic environment, with overall ACV from existing customers increasing at a slower rate in the current period."

"For the three and six months ended July 31, 2024, the increase in subscription revenue was primarily due to an increase in users and sales of additional products to existing customers and the addition of new customers."

"We expect our sales and marketing expenses will continue to be our largest operating expense category for the foreseeable future. We expect sales and marketing expenses as a percentage of total revenue to decrease as our total revenue grows."

"Our gross margin for subscription revenue improved to 78% from 76% for the three months ended April 30, 2024 compared to the three months ended April 30, 2023. The increase was primarily driven by improved spend efficiency resulting in lower relative cost of subscription revenue."

"The decrease in our Dollar-Based Net Retention Rate as of April 30, 2024, compared to April 30, 2023, was primarily a result of the macroeconomic environment, with ACV from existing customers increasing at a slower rate in the current period."

"We believe our existing cash and cash equivalents, our investments and cash provided by sales of our products and services will be sufficient to meet our short-term and long-term projected working capital and capital expenditure needs for the foreseeable future."

"From fiscal 2023 to fiscal 2024, our revenue grew from $1,858 million to $2,263 million, an increase of 22%. In future periods, we may not be able to sustain revenue growth consistent with recent history, or at all."

"Customer growth has slowed in recent periods and could fall below expectations. We have experienced significant growth in the number of our customers since our founding, but this growth has slowed in recent periods."

"Our sales cycles are lengthening in certain circumstances and becoming less predictable, which may harm our financial results."

"The increase in subscription revenue was primarily due to the addition of new customers, an increase in users and sales of additional products to existing customers."

"The decrease in our Dollar-Based Net Retention Rate as of October 31, 2023, compared to October 31, 2022, was primarily a result of the macroeconomic environment, with ACV from existing customers increasing at a slower rate in the current period."

"We expect to continue to incur operating losses and cash flows from operations that may fluctuate between positive and negative amounts for the foreseeable future."

"The decrease in our Dollar-Based Net Retention Rate as of July 31, 2023, compared to July 31, 2022, was primarily a result of the macroeconomic environment, with ACV from existing customers increasing at a slower rate in the current period."

"We expect our subscription revenue gross margin to improve over the long-term as we achieve additional economies of scale."

"We believe our existing cash and cash equivalents, our investments and cash provided by sales of our products and services will be sufficient to meet our short-term and long-term projected working capital and capital expenditure needs for the foreseeable future."