Okta (OKTA) Financials

$5.3 B

Mkt cap, 23-May-2018

$68.2 M

Revenue Q3, 2018
Gross profit (Q3, 2018)47.1 M
Gross profit margin (Q3, 2018), %69%
Net income (Q3, 2018)-33.8 M
EBIT (Q3, 2018)-35.2 M
Cash, 31-Oct-2017137.6 M

Funding Rounds

DateShares IssuedShare PriceAmount RaisedPost-money ValuationValuation Step-up

Unattributed

Sep 2009750.0 k

Series A

Feb 201014,210,7890.8 11.4 m

Series B

Aug 201112,015,1231.38 16.5 m

Series C

Dec 201210,708,7822.33 25.0 m

Series D

Sep 20136,833,6544.02 27.5 m

Series E

Jun 20149,484,2347.91 75.0 m

Series F

Sep 20156,242,00012.02 75.0 m1.2 b
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Revenue/Financials

Income Statement

Annual

USDFY, 2015FY, 2016

Revenue

41 m85.9 m

Revenue growth, %

109%

Cost of goods sold

18.7 m36 m

Gross profit

22.3 m49.9 m

Gross profit Margin, %

54%58%

Sales and marketing expense

49.1 m77.9 m

R&D expense

18.4 m28.8 m

General and administrative expense

19.2 m13.6 m

Operating expense total

86.7 m120.3 m

EBIT

(58.8 m)(76 m)

EBIT margin, %

(143%)(88%)

Interest expense

199 k19 k

Pre tax profit

(59 m)(76 m)

Income tax expense

130 k295 k

Net Income

(59.1 m)(76.3 m)

Quarterly

USDQ2, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

37.4 m53 m61 m68.2 m

Cost of goods sold

13.8 m17.5 m19.7 m21.1 m

Gross profit

23.7 m35.5 m41.3 m47.1 m

Gross profit Margin, %

63%67%68%69%

Sales and marketing expense

28.4 m37.2 m39.6 m49.6 m

R&D expense

9.7 m15.4 m16.9 m19.2 m

General and administrative expense

6.1 m11.6 m11.9 m13.5 m

Operating expense total

44.2 m64.2 m68.5 m82.3 m

EBIT

(20.6 m)(28.6 m)(27.2 m)(35.2 m)

EBIT margin, %

(55%)(54%)(45%)(52%)

Pre tax profit

(20.5 m)(28.7 m)(26.8 m)(34.7 m)

Income tax expense

95 k248 k229 k(940 k)

Net Income

(20.6 m)(28.9 m)(27 m)(33.8 m)

Balance Sheet

Annual

USDFY, 2015FY, 2016FY, 2017

Cash

18.2 m54.4 m221.7 m

Accounts Receivable

13.1 m23 m32.2 m

Prepaid Expenses

3.3 m4.6 m7 m

Current Assets

82.5 m125.7 m279.8 m

PP&E

1.5 m5.2 m13.2 m

Goodwill

2.6 m2.6 m6.3 m

Total Assets

97.1 m149.8 m320.2 m

Accounts Payable

4.2 m5.9 m15.9 m

Current Liabilities

50.5 m87.1 m143.1 m

Non-Current Liabilities

59.7 m102.9 m

Total Liabilities

110.2 m190 m154.3 m

Common Stock

2 k2 k1 k

Preferred Stock

154.5 m228 m

Additional Paid-in Capital

10.9 m23.4 m483 m

Retained Earnings

(128.1 m)(204.4 m)(287.9 m)

Total Equity

(117.2 m)(181.1 m)(243.6 m)

EPS

(3.7 )(4.3 )

Financial Leverage

-0.8 x-0.8 x-1.3 x

Quarterly

USDQ1, 2018Q2, 2018Q3, 2018

Cash

221.7 m126.5 m137.6 m

Accounts Receivable

32.2 m35.3 m46.9 m

Prepaid Expenses

10.3 m12.9 m10 m

Current Assets

279.8 m274.7 m294.7 m

PP&E

13.2 m13.3 m13.3 m

Goodwill

6.3 m6.3 m6.3 m

Total Assets

320.2 m316.2 m316.2 m

Accounts Payable

15.9 m9.8 m9.8 m

Current Liabilities

143.1 m152.8 m152.8 m

Total Liabilities

154.3 m163.4 m163.4 m

Common Stock

1 k2 k2 k

Additional Paid-in Capital

483 m496.8 m543.3 m

Retained Earnings

(317 m)(344 m)(377.8 m)

Total Equity

165.9 m152.9 m156.5 m

Financial Leverage

1.9 x2.1 x2 x

Cash Flow

Annual

USDFY, 2015FY, 2016

Net Income

(59.1 m)(76.3 m)

Depreciation and Amortization

1.9 m2.9 m

Accounts Receivable

(7.2 m)(10.7 m)

Accounts Payable

2.8 m962 k

Cash From Operating Activities

(32.7 m)(41.5 m)

Purchases of PP&E

(1.2 m)(4.1 m)

Cash From Investing Activities

(48.6 m)1.2 m

Cash From Financing Activities

77.3 m76.8 m

Quarterly

USDQ1, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

(22.8 m)(65.3 m)(28.9 m)(55.9 m)(89.7 m)

Depreciation and Amortization

887 k3.2 m1.6 m3.3 m5.1 m

Accounts Receivable

3.1 m(3.6 m)2.2 m(1.3 m)(12.7 m)

Accounts Payable

3.7 m2.5 m3.8 m1.2 m6.3 m

Cash From Operating Activities

(15 m)(35.4 m)(9.9 m)(25.4 m)(25.4 m)

Purchases of PP&E

(927 k)(4.6 m)(2.4 m)(5.2 m)(5.6 m)

Cash From Investing Activities

841 k2.6 m8.2 m(81.5 m)(81.5 m)

Cash From Financing Activities

(337 k)462 k200.1 m221.4 m221.4 m

Net Change in Cash

(14.5 m)(32.5 m)198.7 m114.6 m114.6 m

Income Taxes Paid

114.6 m668 k

Ratios

USDY, 2017

Revenue/Employee

75.9 k

Financial Leverage

2 x
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Operating Metrics

Okta's Customers was reported to be 4.4 k in FY, 2018. Okta's Users was reported to be 40 m in Oct, 2016.
FY, 2015Q3, 2016FY, 2016Oct, 2016Q3, 2017FY, 2017FY, 2018

Calculated Billings

$68.10 m$80.92 m$118.02 m$131.80 m$194.52 m$314.93 m

Customers

1.32 k2 k2.23 k2.90 k2.91 k3.11 k4.35 k

Users

40 m
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Human Capital

Okta's employees are reported to be approximately 26% female and 74% male.

Ethnicity

Y, 2017
Hispanic7 %
White61 %
Asian26 %
Other6 %

Gender

Y, 2017
Female26 %
Male74 %
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