Okta Reports Record Revenue Driven by Subscriptions in Q3 Fiscal 2019
Subscription revenue represents 92.5 percent of total revenue.
Last Wednesday, Okta (NASDAQ: OKTA), a San Francisco-based identity software provider, reported record revenue for the third quarter of fiscal year 2019 for the period ended October 31, 2018. Okta reported total revenue of $105.6 million, a 58 percent increase over the same period last year. Subscription revenue was $97.7 million, also a 58 percent increase year-over-year. Subscription revenue currently represents 92.5 percent of total revenue for the SaaS company. Professional services and other make up the remaining $7.9 million of revenue, or 7.5 percent.
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