Investment PlatformsOkta Hosts Virtual Investor Day in Conjunction with Oktane20 Live

Reaffirms revenue outlook and improves operating profit outlook for first quarter and full year fiscal 2021
BusinessWire BusinessWireApril 2, 20204 min

Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, is hosting its virtual Investor Day today in conjunction with Oktane20 Live. Investor Day and Oktane20 Live will commence with a keynote address delivered by Todd McKinnon, Chief Executive Officer and co-founder of Okta, beginning at 9:00 a.m. Pacific Daylight Time.

McKinnon will be joined by several members of Okta’s leadership team for the Investor Day event. They will discuss the company’s core markets, business drivers, new product introductions, go-to-market strategy, and provide a financial update.

“Nothing is more important to us than the health and safety of the Okta community, which is why we’ve decided to host Investor Day and Oktane as virtual events this year,” said McKinnon. “We’ll be highlighting our ability to meet the growing identity and access management needs of our global customers and the enthusiasm we have for our business and our solutions. We recognize there are uncertainties in today’s business environment, however, over the past 11 years we’ve built an incredibly strong foundation and we’ve entered our new fiscal year with a clear market leading position and financial strength. Our agility and commitment to our customers will help us navigate this environment and emerge in an even better position.”

“We continue to closely monitor the business environment and impacts related to COVID-19,” said Bill Losch, Chief Financial Officer of Okta. “We remain optimistic about the demand for our solutions. Our highly recurring business model enables a high degree of predictability and allows us to maintain confidence in our revenue outlook for the first quarter and fiscal year 2021, which we are reaffirming. We do, however, expect some near-term billings headwinds as customers adjust to the current business environment. Conversely, we expect our operating loss and loss per share to be better than expected as a result of reduced spend. This is primarily related to lower sales and marketing costs, driven in part by temporary travel restrictions, lower employee-related costs, and moving Oktane and other events to virtual formats. We have the ability to further adjust spend depending on the market environment and will be flexible in how and when we invest to extend our market leadership.”



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