Independent identity partner Okta, Inc. (OKTA) reported Wednesday a net loss for the third quarter of $81 million or $0.49 per share, sharply narrower than $209 million or $1.32 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $79 million or $0.44 per share, compared to Nil in the year-ago quarter.
Total revenue for the quarter increased 21 percent to $584 million from $481 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share on revenues of $563.14 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the fourth quarter, the company expects adjusted earnings in a range of $0.50 to $0.51 per share on total revenue between $585 million and $587 million. Analysts expect earnings of $0.35 per share on revenues of $580.27 million for the quarter.
For fiscal 2024, the Company now projects adjusted earnings in a range of $1.47 to $1.48 per share on total revenue between $2.243 billion and $2.245 billion. Previously, the company expected earnings in the range of $1.17 to $1.20 per share on total revenue between $2.207 billion and $2.215 billion.
The Street is looking for earnings of $1.18 per share on revenues of $2.21 billion for the year.
Preliminary outlook for fiscal 2025 is for total revenue between $2.460 billion and $2.470 billion. Analysts currently expect revenues of $2.56 billion for the year.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.