OKTA had a beat on earnings and small raise in guidance yesterday.
They are still losing money and planning to lose money next year but has 61% YOY growth in revenue.
Much of the revenue is subscription based for their identity as a service offering.
Highlights:
Revenue: Total revenue was $68.2 million, an increase of 61% year-over-year. Subscription revenue was $62.7 million, an increase of 64% year-over-year.
Operating Loss: GAAP operating loss was $35.2 million, or 51.6% of total revenue, compared to $21.9 million in the third quarter of fiscal 2017, or 51.8% of total revenue. Non-GAAP operating loss was $20.1 million, or 29.4% of total revenue, compared to $17.0 million in the third quarter of fiscal 2017, or 40.0% of total revenue.
Net Loss: GAAP net loss was $33.8 million, compared to $21.9 million in the third quarter of fiscal 2017. GAAP net loss per share was $0.35, compared to $1.14 in the third quarter of fiscal 2017. Non-GAAP net loss was $18.6 million, compared to $17.0 million in the third quarter of fiscal 2017. Non-GAAP net loss per share was $0.19, compared to $0.89 in the third quarter of fiscal 2017.
Cash Flow: Net cash used in operations was $9.5 million, compared to $8.5 million in the third quarter of fiscal 2017. Free cash flow was negative $11.2 million, or 16.4% of total revenue, compared to negative $11.8 million, or 27.9% of total revenue, in the third quarter of fiscal 2017.
Cash, cash equivalents and short-term investments were $223.6 million as of October 31, 2017.
ref:
https://investor.okta.com/news-releases/news-release-details…
Here is a fool article from April with a summary and opinion its too pricey based on Price/Sales about 16:
https://www.fool.com/investing/2017/04/14/okta-inc-ipo-what-…
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