Okta’s fourth-quarter results exceeded expectations, and it expects single-digit revenue growth for the first time in the upcoming fiscal quarter.

Gelonghui March 5th｜Cybersecurity company Okta announced its fourth quarter results, with revenue increasing by more than 11% year-on-year to $761 million, surpassing analysts' expectations of $749 million; adjusted earnings per share were $0.9, higher than analysts' forecast of $0.85. During the period, subscription revenue was $747 million. Looking ahead to the first quarter, the company expects revenue to be between $749 million and $753 million, representing a year-on-year growth of about 9%, marking the first single-digit growth since its IPO in 2017. Analysts expect revenue to be $755 million; adjusted earnings per share are expected to be between $0.84 and $0.86, while analysts forecast $0.87. Although identity management is generally considered a resilient area of IT spending, Okta is facing pressure as enterprise clients postpone projects and scrutinize costs more strictly.