====Okta (OKTA) reported earnings on Wed 2 Dec 2020 (a/h)

 

Okta beats by $0.05, beats on revs; guides Q4 EPS in-line, revs above consensus, announces CFO transition

Reports Q3 (Oct) earnings of $0.04 per share, $0.05 better than the S&P Capital IQ Consensus of ($0.01); revenues rose 42.1% year/year to $217.4 mln vs the $203.15 mln S&P Capital IQ Consensus.

RPO was $1.58 billion, an increase of 53% year-over-year. Current RPO, which is contracted subscription revenue expected to be recognized over the next 12 months, was $753.2 million, up 46% compared to the third quarter of fiscal 2020.

Total calculated billings were $252.4 million, an increase of 44% year-over-year.

Co issues guidance for Q4, sees EPS of ($0.02)-($0.01) vs. ($0.02) S&P Capital IQ Consensus; sees Q4 revs of $221-$222 mln vs. $216.61 mln S&P Capital IQ Consensus.

CFO Transition: Current Okta Board member and audit committee chair, Mike Kourey, will join Okta as Chief Financial Officer in March 2021. Kourey will succeed Bill Losch, who will be retiring after serving as CFO at Okta since 2013.