Okta is an American identity and access management company.

The Company Ceo is Todd Mckinnon.

Octa Stock Crash/ Octa stock Recent news

it works with other companies To provide cloud software for user authentication. The Company Ceo is Todd Mckinnon

On Thursday the stock Opened almost 25% down from the  to $69.

Okta Wednesday closing price was $91.40.

And in the premarket session on Thursday the stock was down by 18%  to $74.94.

As CEO said We are facing short term challenges

As The Okta noted that business growth of the company has been affected by Unexpected problem caused by the integration with identity software company Auth0


But Okta  shows its strong demand despite weaker economic conditions, As It appeared In its Quarterly result

Okta has posted revenue of $452 million which is up by 43% from a year ago. 

This is More than the company target range of $428 million to $430 million

Octa is projecting revenue of $463 million to $465 million for the October quarter. Which is up between 32% to 33%.

Octa now predict revenue of 1.812  billion to 1.820 2 billion for it's January 2023 fiscal year.

Okta finished the quarter with $2.79 billion in remaining performance obligations, up 25% from a year ago.