Okta, Inc.

In the first phase of a new go-to-market alliance announced last month, Google's $5 million representing growth of 18%. Current RPO of $1.71 billion to $1.72 billion representing growth of 14% to 15%. non-GAAP operating income of $36 million to $38 million, and non-GAAP diluted net income per share of 21 cents to 22 cents, assuming diluted weighted average shares outstanding of approximately 180 million. For FY24, we are raising our revenue outlook by $15 million at the high end of the range. We now expect revenue of $2.175 billion to $2.185 billion, representing growth of 17% to 18%. We are raising our outlook for non-GAAP operating income by $25 million to $161 million to $170 million, which yields a non-GAAP operating margin of approximately 7% to 8%. Non-GAAP net income per share is raised to $0.88 to $0.93, assuming diluted weighted average shares outstanding of approximately $180 million. and we are raising our free cash flow margin outlook for FY24 to approximately 12% from approximately 10% previously. Lastly, I want to provide a couple of comments to help with modeling Okta. Similar to years past, Q2 is expected to be the seasonal low for cash flow, and we are applying a static 26% non-GAAP effective tax rate for the fiscal year. To wrap things up, we've taken action to drive efficiencies in our cost structure while investing to fuel our future growth. And we're confident that we are positioning the company for many years of profitable growth. With that, I'll turn it back over to Dave for Q&A. Dave?

Thanks, Brett. I see that there are quite a few hands raised already, and I'll take them in the order. In the interest of time, please limit yourself to one question, and then you're welcome to queue back up with additional questions. So the first question goes to Rob Owens at Piper.

Thanks, Dave, and good afternoon, everybody. I was hoping you could help me out a little bit with somewhat the disconnect, I guess, between CRPO and how it's trending and annual revenue. I mean, annual revenue is inching up a point here, you know, 17%, 18%, but CRPO going the other way. So realizing that a lot of that is subscription revenue that's already, quote, in the bank, but Trends definitely are pointing the other way. So is that 14, 15% guide, is that somewhat of a low watermark as we kind of contemplate the back half of the year? Thanks.