Q3 revenue grew 37% year-over-year; subscription revenue grew 38% year-over-year
Remaining performance obligations (RPO) grew 21% year-over-year to $2.85 billion; current remaining performance obligations (cRPO) grew 34% year-over-year to $1.58 billion
Announces retirement of Susan St. Ledger, President, Worldwide Field Operations

Okta, Inc. (NASDAQ:OKTA), the leading independent identity provider, today announced financial results for its third quarter ended October 31, 2022.

"We're pleased with our third quarter results and the early traction of our refined go-to-market strategy as identity continues to be a long-term, strategic investment for our customers," said Todd McKinnon, Chief Executive Officer and co-founder of Okta. "With our Workforce Identity and Customer Identity Clouds, the market's leading identity cloud platforms, we are delivering the innovation and simplicity our customers need to solve their complex identity challenges. We remain focused on go-to-market execution, spend efficiency measures, and increasing profitability as we navigate an evolving macro environment."

Third Quarter Fiscal 2023 Financial Highlights:

Revenue: Total revenue was $481 million, an increase of 37% year-over-year. Subscription revenue was $466 million, an increase of 38% year-over-year.
RPO: RPO, or subscription backlog, was $2.85 billion, an increase of 21% year-over-year. cRPO, which is contracted subscription revenue expected to be recognized over the next 12 months, was $1.58 billion, up 34% compared to the third quarter of fiscal 2022.
Calculated Billings: Total calculated billings was $532 million, an increase of 37% year-over-year.
GAAP Operating Loss: GAAP operating loss was $207 million, or (43)% of total revenue, compared to a GAAP operating loss of $199 million, or (57)% of total revenue, in the third quarter of fiscal 2022.
Non-GAAP Operating Income/Loss: Non-GAAP operating income was $0.3 million, or 0.1% of total revenue, compared to non-GAAP operating loss of $10 million, or (3)% of total revenue, in the third quarter of fiscal 2022.
GAAP Net Loss: GAAP net loss was $209 million, compared to a GAAP net loss of $221 million in the third quarter of fiscal 2022. GAAP net loss per share was $1.32, compared to a GAAP net loss per share of $1.44 in the third quarter of fiscal 2022.
Non-GAAP Net Loss: Non-GAAP net loss was $1 million, compared to non-GAAP net loss of $11 million in the third quarter of fiscal 2022. Non-GAAP basic and diluted net loss per share was $0.00, compared to non-GAAP basic and diluted net loss per share of $0.07 in the third quarter of fiscal 2022.
Cash Flow: Net cash provided by operations was $10 million, or 2% of total revenue, compared to net cash provided by operations of $37 million, or 11% of total revenue, in the third quarter of fiscal 2022. Free cash flow was $6 million, or 1% of total revenue, compared to $33 million, or 10% of total revenue, in the third quarter of fiscal 2022.
Cash, cash equivalents, and short-term investments were $2.47 billion at October 31, 2022.

The section titled "Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures, and reconciliations between GAAP and non-GAAP information are contained in the tables below.

Financial Outlook:

For the fourth quarter of fiscal 2023, the Company expects:

Total revenue of $488 million to $490 million, representing a growth rate of 27% to 28% year-over-year;
Current RPO of $1.63 billion to $1.64 billion, representing a growth rate of 21% year-over-year;
Non-GAAP operating income of $15 million to $17 million; and
Non-GAAP diluted net income per share of $0.09 to $0.10, assuming diluted weighted-average shares outstanding of approximately 175 million.

For the full year fiscal 2023, the Company now expects:

Total revenue of $1.836 billion to $1.838 billion, representing a growth rate of 41% year-over-year;
Non-GAAP operating loss of $41 million to $39 million; and
Non-GAAP net loss per share of $0.27 to $0.26, assuming weighted-average shares outstanding of approximately 158 million.

These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

Okta has not reconciled its expectations as to non-GAAP operating income (loss) and non-GAAP net income (loss) per share to their most directly comparable GAAP measures because certain items are out of Okta's control or cannot be reasonably predicted. Accordingly, reconciliations for forward-looking non-GAAP operating income (loss) and non-GAAP net income (loss) per share are not available without unreasonable effort.

Sales Leadership Transition:

Okta also announced today that Susan St. Ledger, President, Worldwide Field Operations, is retiring at the end of the fiscal year on January 31, 2023. If a successor is not in place prior to that date, Todd McKinnon will act as interim leader of Worldwide Field Operations. St. Ledger will remain with the company in an advisory role to allow for a smooth transition.

"We sincerely thank Susan for her contributions and dedication to Okta. She's a true professional and we wish her well in her retirement," said McKinnon. "As we continue on our journey to free everyone to safely use any technology, we are resolute in our commitment to our over 17,000 customers. We are still early in a massive opportunity and we look forward to bringing in a go-to-market leader to take Okta to the next level."

Webcast Information:

Okta will host a live video webcast at 2:00 p.m. Pacific Time on November 30, 2022 to discuss the results and outlook. The news release with the financial results will be accessible from the Company's website at investor.okta.com prior to the webcast. The live video webcast will be accessible from the Okta investor relations website at investor.okta.com.

Supplemental Financial and Other Information:

Supplemental financial and other information can be accessed through the Company's investor relations website at investor.okta.com.

Non-GAAP Financial Measures:

This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net loss, non-GAAP net margin, non-GAAP net loss per share, basic and diluted, free cash flow, free cash flow margin, current calculated billings and calculated billings. Certain of these non-GAAP financial measures exclude stock-based compensation, non-cash charitable contributions, amortization of acquired intangibles, acquisition and integration-related expenses, restructuring costs related to lease impairments in connection with the closing of certain leased facilities, amortization of debt discount, amortization of debt issuance costs and loss on early extinguishment and conversion of debt. Non-GAAP financial measures reflect the adoption of ASU 2020-06 under the modified retrospective method as of February 1, 2022, as applicable.

Okta believes that non-GAAP financial information, when taken collectively with GAAP financial measures, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies.

The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by the Company's management about which expenses are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP.

Okta encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company's business.

Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, the market for our products may develop more slowly than expected or than it has in the past; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; we may not achieve expected synergies and efficiencies of operations between Okta and Auth0, and we may not be able to successfully integrate the companies; global economic conditions could worsen; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation and cause us to incur significant costs; we could experience interruptions or performance problems associated with our technology, including a service outage; the impact of COVID-19, related public health measures and any associated economic downturn on our business and results of operations may be more than we expect; and we may not be able to pay off our convertible senior notes when due. Further information on potential factors that could affect our financial results is included in our most recent Quarterly Report on Form 10-Q and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements.

About Okta

Okta is the World's Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation, thanks to customizable solutions and more than 7,000 pre-built integrations. We're building a world where Identity belongs to you. Learn more at okta.com.

Okta uses its investor.okta.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts.

OKTA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (unaudited)

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Revenue:
Subscription	$	465,856		$	336,702		$	1,299,181		$	879,881
Professional services and other		15,186			13,978			48,611			37,305
Total revenue		481,042			350,680			1,347,792			917,186
Cost of revenue:
Subscription⁽¹⁾		117,306			91,048			344,524			227,903
Professional services and other⁽¹⁾		20,347			18,626			61,988			49,000
Total cost of revenue		137,653			109,674			406,512			276,903
Gross profit		343,389			241,006			941,280			640,283
Operating expenses:
Research and development⁽¹⁾		148,484			130,535			465,971			321,805
Sales and marketing⁽¹⁾		289,984			203,878			807,110			548,749
General and administrative⁽¹⁾		111,520			105,149			322,549			322,406
Total operating expenses		549,988			439,562			1,595,630			1,192,960
Operating loss		(206,599	)		(198,556	)		(654,350	)		(552,677	)
Interest expense		(2,805	)		(23,144	)		(8,588	)		(68,776	)
Interest income and other, net		4,235			1,056			10,660			7,622
Loss on conversion of debt		—			—			—			(179	)
Interest and other, net		1,430			(22,088	)		2,072			(61,333	)
Loss before provision for (benefit from) income taxes		(205,169	)		(220,644	)		(652,278	)		(614,010	)
Provision for (benefit from) income taxes		3,728			667			9,804			(6,785	)
Net loss	$	(208,897	)	$	(221,311	)	$	(662,082	)	$	(607,225	)

Net loss per share, basic and diluted	$	(1.32	)	$	(1.44	)	$	(4.21	)	$	(4.17	)

Weighted-average shares used to compute net loss per share, basic and diluted		158,708			153,756			157,344			145,782

⁽¹⁾

Amounts include stock-based compensation expense as follows (in thousands):

	Three Months Ended October 31,				Nine Months Ended October 31,
		2022		2021		2022		2021
Cost of subscription revenue	$	17,106	$	13,455	$	51,509	$	33,843
Cost of professional services and other		3,563		3,376		11,016		8,879
Research and development		69,208		56,573		208,330		129,998
Sales and marketing		41,515		39,248		120,299		101,602
General and administrative		39,593		43,133		120,533		133,289
Total stock-based compensation expense	$	170,985	$	155,785	$	511,687	$	407,611


OKTA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (unaudited)

	October 31,			January 31,
		2022			2022
Assets
Current assets:
Cash and cash equivalents	$	249,624		$	260,134
Short-term investments		2,223,538			2,241,657
Accounts receivable, net of allowances		380,754			397,509
Deferred commissions		84,454			74,728
Prepaid expenses and other current assets		68,567			66,605
Total current assets		3,006,937			3,040,633
Property and equipment, net		60,884			65,488
Operating lease right-of-use assets		125,207			147,940
Deferred commissions, noncurrent		195,146			191,029
Intangible assets, net		261,825			316,968
Goodwill		5,400,275			5,401,343
Other assets		43,462			42,294
Total assets	$	9,093,736		$	9,205,695
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	49,122		$	20,203
Accrued expenses and other current liabilities		100,086			89,315
Accrued compensation		110,399			143,805
Convertible senior notes, net		5,217			16,194
Deferred revenue		1,044,622			973,289
Total current liabilities		1,309,446			1,242,806
Convertible senior notes, net, noncurrent		2,191,547			1,815,714
Operating lease liabilities, noncurrent		148,906			170,611
Deferred revenue, noncurrent		17,833			22,933
Other liabilities, noncurrent		18,392			31,775
Total liabilities		3,686,124			3,283,839

Stockholders' equity:
Preferred stock		—			—
Class A common stock		15			15
Class B common stock		1			1
Additional paid-in capital		7,785,753			7,749,716
Accumulated other comprehensive loss		(56,064	)		(12,009	)
Accumulated deficit		(2,322,093	)		(1,815,867	)
Total stockholders' equity		5,407,612			5,921,856
Total liabilities and stockholders' equity	$	9,093,736		$	9,205,695


OKTA, INC. SUMMARY OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (unaudited)

	Nine Months Ended October 31,
		2022			2021⁽¹⁾
Cash flows from operating activities:
Net loss	$	(662,082	)	$	(607,225	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation		511,687			407,611
Depreciation, amortization and accretion		87,999			76,631
Amortization of debt discount and issuance costs		4,340			64,478
Amortization of deferred commissions		60,791			40,041
Deferred income taxes		3,383			(13,606	)
Non-cash charitable contributions		2,469			5,649
Lease impairment charges		14,461			—
Loss on conversion of debt		—			179
Net gain on strategic investments		(1,873	)		(5,665	)
Other, net		1,872			(267	)
Changes in operating assets and liabilities:
Accounts receivable		14,968			(29,561	)
Deferred commissions		(82,589	)		(92,183	)
Prepaid expenses and other assets		(3,989	)		5,356
Operating lease right-of-use assets		20,659			16,564
Accounts payable		29,794			(195	)
Accrued compensation		(30,629	)		19,488
Accrued expenses and other liabilities		(5,950	)		22,537
Operating lease liabilities		(21,782	)		(17,280	)
Deferred revenue		66,233			198,035
Net cash provided by operating activities		9,762			90,587
Cash flows from investing activities:
Capitalization of internal-use software costs		(7,773	)		(2,348	)
Purchases of property and equipment		(9,377	)		(5,800	)
Purchases of securities available for sale and other		(872,035	)		(1,333,504	)
Proceeds from maturities and redemption of securities available for sale		848,519			1,118,448
Proceeds from sales of securities available for sale and other		—			228,344
Purchases of intangible assets		(2,497	)		(113	)
Payments for business acquisitions, net of cash acquired		(4,060	)		(215,129	)
Net cash used in investing activities		(47,223	)		(210,102	)
Cash flows from financing activities:
Payments for conversions of convertible senior notes		(6	)		(26	)
Proceeds from hedges related to convertible senior notes		1			2
Proceeds from stock option exercises		14,610			41,054
Proceeds from shares issued in connection with employee stock purchase plan		18,960			17,417
Net cash provided by financing activities		33,565			58,447
Effects of changes in foreign currency exchange rates on cash, cash equivalents and restricted cash		(9,747	)		(494	)
Net decrease in cash, cash equivalents and restricted cash		(13,643	)		(61,562	)
Cash, cash equivalents and restricted cash at beginning of period		272,656			448,630
Cash, cash equivalents and restricted cash at end of period	$	259,013		$	387,068

⁽¹⁾

The condensed consolidated statement of cash flows for the prior period has been adjusted to conform to current period presentation. These reclassifications had no impact on the aggregate cash flow classifications as previously reported.

OKTA, INC.

Reconciliation of GAAP to Non-GAAP Data

(In thousands, except percentages and per share data)

(unaudited)

Non-GAAP Gross Profit and Non-GAAP Gross Margin

We define Non-GAAP gross profit and Non-GAAP gross margin as GAAP gross profit and GAAP gross margin, adjusted for stock-based compensation expense included in cost of revenue, amortization of acquired intangibles and acquisition and integration-related expenses. Acquisition and integration-related expenses include transaction costs and other non-recurring incremental costs incurred through the one-year anniversary of transaction close.

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Gross profit	$	343,389		$	241,006		$	941,280		$	640,283
Add:
Stock-based compensation expense included in cost of revenue		20,669			16,831			62,525			42,722
Amortization of acquired intangibles		11,393			11,335			34,102			23,056
Acquisition and integration-related expenses		—			658			459			1,316
Non-GAAP gross profit	$	375,451		$	269,830		$	1,038,366		$	707,377
Gross margin		71	%		69	%		70	%		70	%
Non-GAAP gross margin		78	%		77	%		77	%		77	%

Non-GAAP Operating Income (Loss) and Non-GAAP Operating Margin

We define Non-GAAP operating income (loss) and Non-GAAP operating margin as GAAP operating loss and GAAP operating margin, adjusted for stock-based compensation expense, non-cash charitable contributions, amortization of acquired intangibles, acquisition and integration-related expenses and restructuring costs related to lease impairments in connection with the closing of certain leased facilities. Acquisition and integration-related expenses include transaction costs and other non-recurring incremental costs incurred through the one-year anniversary of transaction close.

Beginning in the third quarter of fiscal 2023, we updated our definition of Non-GAAP operating income (loss) and Non-GAAP operating margin to include restructuring costs as defined in the preceding paragraph.

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Operating loss	$	(206,599	)	$	(198,556	)	$	(654,350	)	$	(552,677	)
Add:
Stock-based compensation expense		170,985			155,785			511,687			407,611
Non-cash charitable contributions		455			1,986			2,469			5,649
Amortization of acquired intangibles		21,262			21,204			63,711			42,795
Acquisition and integration-related expenses		—			10,060			6,555			46,664
Restructuring costs		14,161			—			14,161			—
Non-GAAP operating income (loss)	$	264		$	(9,521	)	$	(55,767	)	$	(49,958	)
Operating margin		(43	)%		(57	)%		(49	)%		(60	)%
Non-GAAP operating margin		—	%		(3	)%		(4	)%		(5	)%

Non-GAAP Net Loss, Non-GAAP Net Margin and Non-GAAP Net Loss Per Share, Basic and Diluted

We define Non-GAAP net loss and Non-GAAP net margin as GAAP net loss and GAAP net margin, adjusted for stock-based compensation expense, non-cash charitable contributions, amortization of acquired intangibles, acquisition and integration-related expenses, restructuring costs related to lease impairments in connection with the closing of certain leased facilities, amortization of debt discount, amortization of debt issuance costs and loss on early extinguishment and conversion of debt. Acquisition and integration-related expenses include transaction costs and other non-recurring incremental costs incurred through the one-year anniversary of transaction close. Adjustments reflect the adoption of ASU 2020-06 under the modified retrospective method as of February 1, 2022, as applicable.

Beginning in the third quarter of fiscal 2023, we updated our definition of Non-GAAP net loss and Non-GAAP net margin to include restructuring costs as defined in the preceding paragraph.

We define Non-GAAP net loss per share, basic, as Non-GAAP net loss divided by GAAP weighted-average shares used to compute net loss per share, basic and diluted.

We define Non-GAAP net loss per share, diluted, as Non-GAAP net loss divided by GAAP weighted-average shares used to compute net loss per share, basic and diluted adjusted for the potentially dilutive effect of (i) employee equity incentive plans, excluding the impact of unrecognized stock-based compensation expense, and (ii) convertible senior notes outstanding and related warrants. In addition, Non-GAAP net loss per share, diluted, includes the impact of our note hedge and capped call agreements on convertible senior notes outstanding, as applicable. The note hedge and capped call agreements are intended to offset potential dilution to our Class A common stock upon any conversion or settlement of the convertible senior notes under certain circumstances. Accordingly, we did not record any adjustments for the potential impact of the convertible senior notes outstanding under the if-converted method.

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Net loss	$	(208,897	)	$	(221,311	)	$	(662,082	)	$	(607,225	)
Add:
Stock-based compensation expense		170,985			155,785			511,687			407,611
Non-cash charitable contributions		455			1,986			2,469			5,649
Amortization of acquired intangibles		21,262			21,204			63,711			42,795
Acquisition and integration-related expenses		—			10,060			6,555			46,664
Amortization of debt discount and debt issuance costs⁽¹⁾		1,445			21,698			4,340			64,478
Loss on conversion of debt⁽¹⁾		—			—			—			179
Restructuring costs		14,161			—			14,161			—
Non-GAAP net loss	$	(589	)	$	(10,578	)	$	(59,159	)	$	(39,849	)

Net margin		(43	)%		(63	)%		(49	)%		(66	)%
Non-GAAP net margin		—	%		(3	)%		(4	)%		(4	)%

Weighted-average shares used to compute net loss per share, basic and diluted		158,708			153,756			157,344			145,782
Non-GAAP weighted-average effect of potentially dilutive securities		—			—			—			—
Non-GAAP weighted-average shares used to compute non-GAAP net loss per share, diluted		158,708			153,756			157,344			145,782

Net loss per share, basic and diluted	$	(1.32	)	$	(1.44	)	$	(4.21	)	$	(4.17	)
Non-GAAP net loss per share, basic and diluted	$	—		$	(0.07	)	$	(0.38	)	$	(0.27	)

⁽¹⁾

Reflects the adoption of ASU 2020-06 under the modified retrospective method effective February 1, 2022.

OKTA, INC.

Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except percentages)

(unaudited)

Free Cash Flow and Free Cash Flow Margin

We define Free cash flow as net cash provided by operating activities, less cash used for purchases of property and equipment, net of sales proceeds, and capitalized internal-use software costs. Free cash flow margin is calculated as Free cash flow divided by total revenue.

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Net cash provided by operating activities	$	9,980		$	37,120		$	9,762		$	90,587
Less:
Purchases of property and equipment		(1,884	)		(1,766	)		(9,377	)		(5,800	)
Capitalization of internal-use software costs		(2,377	)		(1,970	)		(7,773	)		(2,348	)
Free cash flow	$	5,719		$	33,384		$	(7,388	)	$	82,439
Net cash provided by (used in) investing activities	$	21,489		$	101,459		$	(47,223	)	$	(210,102	)
Net cash provided by financing activities	$	5,633		$	9,214		$	33,565		$	58,447
Free cash flow margin		1	%		10	%		(1	)%		9	%

Calculated Billings

We define Calculated Billings as total revenue plus the change in deferred revenue, net of acquired deferred revenue, and less the change in unbilled receivables, net of acquired unbilled receivables, in the period.

	Three Months Ended October 31,						Nine Months Ended October 31,
		2022			2021			2022			2021
Total revenue	$	481,042		$	350,680		$	1,347,792		$	917,186
Add:
Deferred revenue, current (end of period)		1,044,622			759,914			1,044,622			759,914
Unbilled receivables, current (beginning of period)		4,530			3,409			3,228			2,604
Acquired unbilled receivables, current		—			—			—			2,327
Less:
Deferred revenue, current (beginning of period)		(994,097	)		(721,808	)		(973,289	)		(502,738	)
Unbilled receivables, current (end of period)		(5,106	)		(5,085	)		(5,106	)		(5,085	)
Acquired deferred revenue, current		—			(900	)		—			(61,422	)
Current Calculated Billings		530,991			386,210			1,417,247			1,112,786
Add:
Deferred revenue, noncurrent (end of period)		17,833			17,958			17,833			17,958
Less:
Deferred revenue, noncurrent (beginning of period)		(17,187	)		(15,489	)		(22,933	)		(10,860	)
Acquired deferred revenue, noncurrent		—			—			—			(4,817	)
Calculated Billings	$	531,637		$	388,679		$	1,412,147		$	1,115,067

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Okta Announces Third Quarter Fiscal Year 2023 Financial Results