Okta earnings for the fourth quarter, reported late Thursday, beat analyst estimates as the cybersecurity firm reported a smaller loss than a year earlier. Okta stock fell in after-hours trading though, as the company forecast a higher-than-expected loss in fiscal 2020.
The cybersecurity firm said it lost 4 cents a share in adjusted earnings, narrowing its loss from a year ago, with revenue rising 50% to $115 million. A year earlier, Okta (OKTA) lost 10 cents a share on sales of $78 million.
Analysts expected Okta to report an 8-cent loss per share on sales of $108 million for the period ended Jan. 31.
For fiscal 2020, Okta said it expects a loss in a range of 48 cents to 53 cents a share. Analysts had projected a full-year loss of 22 cents a share.
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Okta stock fell 8.2% to 74.59 in after-hours trading on the stock market today. San Francisco-based Okta provides identity management services for businesses.
Okta Forecasts Higher-Than-Expected Loss
For the April quarter, Okta said it expects a loss of 21 cents to 22 cents a share. Analysts had modeled a per-share loss of 12 cents.
Okta forecast revenue of $116.5 million at its midpoint of guidance, topping estimates of $111.7 million.
Hackers often target employees or management with administrative access to company computer systems. Okta’s software monitors and manages privileged accounts.
Founded in 2009, San Francisco-based Okta competes with products from Microsoft (MSFT) as well as Ping Identity and Centrify.
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