Okta Inc.

"Our Dollar-Based Net Retention Rate measures our ability to increase revenue across our existing customer base through expansion of users and solutions associated with a customer as offset by churn and contraction in the number of users and/or solutions associated with a customer."

"We are expanding these capabilities to include AI agents with the introduction of new product offerings currently in development and early access."

"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."

"Identity is becoming the most critical layer of an organization's security as organizations shift from network-based security models to a Zero Trust security model"

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

"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"

"For the three and six months ended July 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 as of July 31, 2025"

"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"

"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."

"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."

"identity has become the most reliable way to manage user access and protect digital assets as organizations shift from network-based security models to a Zero Trust security model"

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

"Our principal competitor is Microsoft. Many of our competitors have significantly greater financial, technical, sales and marketing, distribution, customer support or other resources, larger intellectual property portfolios, longer operating histories, greater resources to make strategic acquisitions, more established relationships with third-party service providers, and greater name recognition than we do."

"As of October 31, 2024, more than 19,450 customers across nearly every industry used Okta to secure and manage identities around the world."

"Our subscription-based business model, which constituted approximately 98% of total revenue for the nine months ended October 31, 2024."

"Starting in fiscal 2023, this change has increased our U.S. federal and state cash taxes. This impact is expected to continue in future years as our capitalized research and development expenses continue to increase."

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

"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."

"While we expect the impact of these security incidents to adversely affect our future financial performance, we cannot predict the extent of such impact with certainty."

"For the three months ended April 30, 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."

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

"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 2022 to fiscal 2023, our revenue grew from $1,300 million to $1,858 million, an increase of 43%, and from fiscal 2023 to fiscal 2024, our revenue grew from $1,858 million to $2,263 million, an increase of 22%."

"In order to manage our growth and better align our organizational structure and resources with our business priorities, we may undertake restructuring plans from time to time. For example, during the first quarter of each of fiscal 2024 and fiscal 2025, we announced separate world-wide restructuring plans intended to reduce operating expenses and improve profitability that involved a reduction of our workforce by approximately 300 and 400 full-time employees, respectively."

"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. As we increase our focus on sales to the world's largest organizations, we do not expect customer growth to continue at the same pace as it has previously."

"Our strong Dollar-Based Net Retention Rate is primarily attributable to gross retention, an expansion of users and upselling additional products within our 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 our investment in technology to expand the capability of our platform enabling us to improve our gross margin over time."

"Dollar-Based Net Retention Rate of 115% as of July 31, 2023, down from 122% prior year primarily due to macroeconomic environment with ACV from existing customers increasing at a slower rate"

"Remaining Performance Obligations of $3,027 million as of July 31, 2023, with 59% expected to be recognized over the next 12 months"

"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"