Okta reports 4Q loss

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $24.7 million in its fiscal fourth quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 24 cents. Losses, adjusted for stock option expense, were 10 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.

The cloud identity management company posted revenue of $77.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $75.8 million.

For the year, the company reported a loss of $114.4 million, or $1.38 per share. Revenue was reported as $260 million.

For the current quarter ending in May, Okta expects its results to range from a loss of 16 cents per share to a loss of 15 cents per share.

The company said it expects revenue in the range of $78 million to $79 million for the fiscal first quarter.

Okta expects full-year results to range from a loss of 67 cents per share to a loss of 62 cents per share, with revenue ranging from $343 million to $348 million.

Okta shares have increased 53 percent since the beginning of the year.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OKTA at https://www.zacks.com/ap/OKTA