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Okta Announces Strong Third Quarter Results
December 2, 2020
Increases revenue and operating profit outlook for fiscal 2021
Q3 revenue grew 42% year-over-year; subscription revenue grew 43% year-over-year
Remaining performance obligations (RPO), or subscription revenue backlog, grew 53% year-over-year
Record quarterly operating and free cash flows
Appoints Board Member Mike Kourey to succeed Bill Losch, who is retiring, as Chief Financial Officer in March 2021
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 2, 2020-- Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, today announced financial results for its third quarter ended October 31, 2020.

"We are seeing the importance of a modern identity platform like the Okta Identity Cloud grow as businesses around the world accelerate their adoption of cloud-based applications and re-imagine their digital customer experiences,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “Our strong third quarter results reflect Okta's leading position in identity and access management and our continued ability to execute and drive industry-leading performance.”

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