Okta, Inc. is a publicly traded identity and access management company based in San Francisco. It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, website web services and devices.
With Okta, IT can manage any employee’s access to any application or device. Okta runs in the cloud, on a secure, reliable, extensively audited platform, which integrates deeply with on-premises applications, directories, and identity management systems.
Okta developed SWA technology for those applications which do not support SSO. With okta we can manage access to any application on any device with any person either it may be employees or partner, etc. Subscribe to our youtube channel to get new updates..!
It has many awesome features which make our complicated work into simple one. Single sign on is one of them which makes okta unique by allowing users with one log on to many applications at a time which reduces the burden of remembering multiple passwords and also saves the time to login for each application.
Can okta continue to grow revenue?
They believe that with the development of the vaccines, lockdown conditions will lift and companies like Okta may not have much to continue to drive growth. The increasing costs to support current revenue growth will also hurt their financials.
Okta revenue for the quarter ending July 31, 2021 was $0.316B, a 57.4% increase year-over-year. Okta revenue for the twelve months ending July 31, 2021 was $1.019B, a 44.76% increase year-over-year. Okta annual revenue for 2021 was $0.835B, a 42.55% increase from 2020.
In the last 3 years Okta saw its revenue grow at 37% per year. That’s much better than most loss-making companies. While the compound gain of 25% per year over three years is pretty good, you might argue it doesn’t fully reflect the strong revenue growth.
Again, though, investors seemed to respond negatively to future guidance despite projections for ongoing expansion. Okta sees first-quarter revenue rising 55%, with full-year sales of $1.78 billion to $1.79 billion working out to a 37% to 38% growth rate.
Why use Okta for scalable authentication?
Get scalable authentication built right into your application without the development overhead, security risks, and maintenance that come from building it yourself. You can connect any application in any language or on any stack to Okta and define how you want your users to sign in.
Will Okta take its foot off the gas in 2022?
Okta’s guidance for 2022 also shows the company has no intention of taking its foot off the gas. For fiscal 2023, it’s expecting 37% to 38% revenue growth and $1. 78 billion to $1. 79 billion, in line with growth from stand-alone Okta in fiscal 2022.