Okta Inc (OKTA) released its first quarter results on Thursday, May 27, 2021. The company reported net earnings of $-0.83 per share for the first quarter ending April 30, 2021. Earnings for this past quarter declined 78 percent compared to the same period a year ago.
Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California. Okta, Inc. provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and
Okta's revenue increased 40 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 78.89% for the first quarter compared to the same period in the previous year, and operating margins decreased to 36.13% over the same period. Net earnings for past trailing twelve months were $-317.9 million, down 48% from the prior year.
Moving on to the balance sheet, Okta's cash levels jumped 6% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 32.12% this past year. The current ratio for Okta now stands at 3.7. The company increased shares outstanding by 6.81%.
Shares of OKTA are currently trading around $222.40. In terms of valuation, the stock is trading at a price to book ratio of 42.92.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, May 28, 2021.