2024 Q1 Form 10-K Financial Statement

#000166013424000025 Filed on March 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024
Revenue $605.0M $2.263B
YoY Change 18.63% 21.8%
Cost Of Revenue $145.0M $581.0M
YoY Change 4.32% 6.41%
Gross Profit $460.0M $1.682B
YoY Change 23.99% 28.2%
Gross Profit Margin 76.03% 74.33%
Selling, General & Admin $359.0M $1.486B
YoY Change 0.0% 0.75%
% of Gross Profit 78.04% 88.35%
Research & Development $156.0M $656.0M
YoY Change 1.3% 5.81%
% of Gross Profit 33.91% 39.0%
Depreciation & Amortization $20.00M $12.00M
YoY Change -23.08% 0.0%
% of Gross Profit 4.35% 0.71%
Operating Expenses $515.0M $2.198B
YoY Change 0.39% 3.48%
Operating Profit -$55.00M -$516.0M
YoY Change -61.27% -36.45%
Interest Expense $24.00M $8.000M
YoY Change 200.0% -27.27%
% of Operating Profit
Other Income/Expense, Net $81.00M
YoY Change 268.18%
Pretax Income -$44.00M -$337.0M
YoY Change -70.47% -57.93%
Income Tax $0.00 $18.00M
% Of Pretax Income
Net Earnings -$44.00M -$355.0M
YoY Change -71.24% -56.44%
Net Earnings / Revenue -7.27% -15.69%
Basic Earnings Per Share -$2.17
Diluted Earnings Per Share -$0.27 -$2.17
COMMON SHARES
Basic Shares Outstanding 163.6M shares
Diluted Shares Outstanding 163.6M shares

Balance Sheet

Concept 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.202B $2.202B
YoY Change -14.65% -14.65%
Cash & Equivalents $334.0M $334.0M
Short-Term Investments $1.868B $1.868B
Other Short-Term Assets $199.0M $199.0M
YoY Change 18.45% 18.45%
Inventory
Prepaid Expenses
Receivables $559.0M $559.0M
Other Receivables $20.00M $20.00M
Total Short-Term Assets $2.980B $2.980B
YoY Change -7.71% -7.71%
LONG-TERM ASSETS
Property, Plant & Equipment $48.00M $131.0M
YoY Change -18.64% -27.62%
Goodwill $5.406B
YoY Change 0.11%
Intangibles $182.0M
YoY Change -24.48%
Long-Term Investments
YoY Change
Other Assets $48.00M $290.0M
YoY Change 4.35% 13.28%
Total Long-Term Assets $6.009B $6.009B
YoY Change -1.14% -1.14%
TOTAL ASSETS
Total Short-Term Assets $2.980B $2.980B
Total Long-Term Assets $6.009B $6.009B
Total Assets $8.989B $8.989B
YoY Change -3.42% -3.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.00M $12.00M
YoY Change 0.0% 0.0%
Accrued Expenses $48.00M $270.0M
YoY Change -28.36% 27.96%
Deferred Revenue $1.488B
YoY Change 19.81%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.782B $1.782B
YoY Change 21.64% 21.64%
LONG-TERM LIABILITIES
Long-Term Debt $1.154B $1.154B
YoY Change -47.38% -47.38%
Other Long-Term Liabilities $30.00M $149.0M
YoY Change 30.43% -18.58%
Total Long-Term Liabilities $30.00M $1.303B
YoY Change 30.43% -45.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.782B $1.782B
Total Long-Term Liabilities $30.00M $1.303B
Total Liabilities $3.101B $3.101B
YoY Change -19.27% -19.27%
SHAREHOLDERS EQUITY
Retained Earnings -$2.830B
YoY Change 14.34%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.888B $5.888B
YoY Change
Total Liabilities & Shareholders Equity $8.989B $8.989B
YoY Change -3.42% -3.42%

Cashflow Statement

Concept 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$44.00M -$355.0M
YoY Change -71.24% -56.44%
Depreciation, Depletion And Amortization $20.00M $12.00M
YoY Change -23.08% 0.0%
Cash From Operating Activities $174.0M $512.0M
YoY Change 128.23% 495.35%
INVESTING ACTIVITIES
Capital Expenditures $8.000M $8.000M
YoY Change 138.59% -33.33%
Acquisitions $22.00M
YoY Change 450.0%
Other Investing Activities -$125.0M $465.0M
YoY Change 57.38% -534.58%
Cash From Investing Activities -$133.0M $441.0M
YoY Change 60.67% -439.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -109.0M -$883.0M
YoY Change -855.11% -1939.58%
NET CHANGE
Cash From Operating Activities 174.0M $512.0M
Cash From Investing Activities -133.0M $441.0M
Cash From Financing Activities -109.0M -$883.0M
Net Change In Cash -68.00M $71.00M
YoY Change -961.2% -3650.0%
FREE CASH FLOW
Cash From Operating Activities $174.0M $512.0M
Capital Expenditures $8.000M $8.000M
Free Cash Flow $166.0M $504.0M
YoY Change 127.76% 581.08%

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CY2024 us-gaap Fiscal Period
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The Company’s fiscal year ends on January 31. References to fiscal 2024, for example, refer to the fiscal year ended January 31, 2024.
CY2024 us-gaap Prior Period Reclassification Adjustment Description
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Certain prior period amounts have been reclassified to conform to the current period presentation.
CY2024 us-gaap Use Of Estimates
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The preparation of consolidated financial statements in conformity with GAAP requires estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates are based on historical experience and on other assumptions that management believes are reasonable under the circumstances. Actual results could vary from those estimates. The Company’s most significant estimates include the valuation of deferred income tax assets, uncertain tax positions, assets and liabilities acquired in business combinations, and loss contingencies related to litigation.
CY2024 okta Deferred Revenue Payment Terms
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CY2024 us-gaap Concentration Risk Credit Risk
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<div style="margin-bottom:9pt;margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable. The Company's short-term investments are primarily intended to facilitate liquidity and capital preservation and consist predominately of highly liquid investment-grade fixed-income securities, diversified among industries and individual issuers. The Company's policy is designed to limit exposure from any particular issuer or institution.</span></div><div style="margin-bottom:9pt;margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk arising from accounts receivable is mitigated due to the large number of customers and their dispersion across various industries and geographies. For the periods presented, there were no customers that represented more than 10% of the Company's accounts receivable balance or total revenue.</span></div><div style="margin-bottom:9pt;margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company serves customers and users from data center facilities located across various different physical locations, such as the U.S., Europe and Asia-Pacific, most of which are operated by a single third party. The Company has disaster recovery protocols at the third-party service providers. Even with these procedures for disaster recovery in place, access to the Company's service could be significantly interrupted, resulting in an adverse effect on its operating results and financial condition.</span></div>
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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0001660134-24-000025-index.html Edgar Link pending
0001660134-24-000025.txt Edgar Link pending
0001660134-24-000025-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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okta-1312024_ex211.htm Edgar Link pending
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