OKTA - Okta Inc. (OKTA) Q1 2025 Earnings Call Transcript
2024-05-29 21:25:29 ET
Okta, Inc. (OKTA)
Q1 2025 Earnings Conference Call
May 29, 2024 5:00 PM ET
Company Participants
Dave Gennarelli - SVP of IR
Todd McKinnon - CEO & Co-Founder
Brett Tighe - CFO
Conference Call Participants
Gabriela Borges - Goldman
Fatima Boolani - Citi
Brad Zelnick - Deutsche Bank
Eric Heath - KeyBanc
Adam Tindle - Raymond James
Hamza Fodderwala - Morgan Stanley
Madeline Brooks - BofA
Patrick Colville - Scotiabank
Joe Gallo - Jefferies
Rudy Kessinger - D.A. Davidson
Gray Powell - BTIG
John DiFucci - Guggenheim
Andy Nowinksi - Wells Fargo
Josh Tilton - Wolfe Research
Rob Owens - Piper Sandler
Alex Henderson - Needham
Peter Levine - Evercore
Jonathan Ho - William Blair
Matt Hedberg - RBC
Roger Boyd - UBS
Peter Weed - Bernstein
Adam Borg - Stifel
Brian Essex - JPMorgan
Presentation
Operator
Hi, everyone. Welcome to Okta's First Quarter Fiscal Year 2025 Earnings Webcast. I'm Dave Gennarelli, Senior Vice President of Investor Relations at Okta. With me in today's meeting, we have Todd McKinnon, our Chief Executive Officer and Co-Founder, and Brett Tighe, our Chief Financial Officer.
At around the same time that the earnings press release hit the wire, we posted supplemental commentary to our IR website. This posted commentary contains a large portion of what would historically be the opening commentary, including customer commentary, product related news, and a review of our financial results. This new format allows listeners to review that inform information before this call. Today's meeting will include forward looking statements pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to statements regarding our financial outlook and market positioning.
Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date made. Information on factors that could affect our financial results is included in our filings with the SEC from time-to-time,
including the section titled Risk Factors in our previously filed Form 10-K.
In addition, during today's meeting, we will discuss non GAAP financial measures. Though we may not state it explicitly during the meeting, all references to profitability are non-GAAP. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures and a discussion of the limitations of using non-GAAP measures versus their closest GAAP equivalents is available in our earnings release.
You can also find more detailed information in our supplemental financial materials, which include trended financial statements and key metrics posted on our investor relations website. In today's meeting, we'll quote a number of numeric or growth changes as we discuss our financial performance. And unless otherwise noted, each such reference represents a year-over-year comparison.
And now I'd like to turn the meeting over to Todd McKinnon. Todd?
Todd McKinnon
Thanks, Dave, and thank you everyone for joining us this afternoon. Q1 was a solid start to FY’25, highlighted by continued strength of large customers and the public sector and record profitability and cash flow. The operating efficiency actions that we started almost two years ago have delivered outstanding leverage to our model. While it's difficult to quantify the impact on our business from the October security incident, our analysis continues to suggest minimal impact on our financial results.
Today, I'll cover the progress we've made with the Okta Secure Identity Commitment, and then review some of the highlights from our showcase event earlier this month. As a reminder, we launched the Okta Secure Identity Commitment earlier this year. This is our long term plan to lead the industry in the fight against identity attacks. It's aimed at hardening our ancillary and corporate systems and further strengthening our products and services, as well as championing customer best practices that help enable our customers to be highly protected....
Okta, Inc. (OKTA) Q1 2025 Earnings Call Transcript