Webcast: https://investor.okta.com Quarter Ended March 31. Management applied some conservatism to the forward estimates, in anticipation of possible customer spending slowdown in Q2 and Q3. It's an important integration for us. Okta continues to be in a favorable competitive position. With all the announcements coming out of Oktane this year and just considering that it was a virtual event, how would you characterize the lead gen from that compared to what it was last year? Thank you. The main benefit of the Basic and Office 365 editions are that they enable unlimited SSO and MFA for all apps with an integration to Azure AD. So Todd, the first one is for you. But we think we're the best, and we're the most integrated. I'll give you a good example. ET. Alex Henderson -- Needham & Company -- Analyst. Okta Inc Cl A (OKTA) reports earnings on 11/26/2020. And so it's no surprise. It kind of eliminates the variability that you see in billings with invoice timing. It's obviously one of the largest food retailers in the United States, has over 20-plus banners, right, Safeway, Vons, Jewel-Osco. As part of the Platform Services roll-out, launched two new services. press@okta.com Forward-looking statements represent our management's beliefs and assumptions only as of the date made. Adjusted loss per share is expected to be $0.11 to $0.10. The state had numerous disparate legacy identity systems across its agencies, which caused friction for its employees, contractors and citizens. On the earnings call, the CEO mentioned “we did experience some projects getting more scrutiny, but believe, in most cases, the project implementation and/or purchase decisions have been pushed out to a later date rather than canceled. Earnings Results to be released on Thursday, December 5, 2019, After the Close of the Market. As Todd mentioned, we had a strong first quarter with particular strength in revenue, operating margin, cash flow and net retention rate. So I guess one of the things I'm just trying to figure out is, I mean, with multiple customer conversations, it sounds like demand for MFA has really been high. I don’t see a scenario where PING is able to catch up to OKTA at this point. As we can see, Okta generates 3x more revenue than Ping Identity and is growing twice as fast. The total number of $100,000-plus customers is now nearly 1,600, and the annual contract value of this cohort increased nearly 50%. The increase was primarily driven by strong customer upsell, particularly with our enterprise customers as we grow our business with and within the world's largest organizations. And they turned to us to create exactly what you're talking about, a streamlined omni-channel experience for the millions of shoppers they interact with each week so that you, as a end consumer, are going to have one way to authenticate, whether you're going into a Safeway or whether you're paying with your Vons card at the gas station. And then the second reason it's important is because it shows the -- our ability -- the ability of our companies to work together. Yes. I simply don’t feel as comfortable covering them, based on my experience. The company’s prior revenue guidance was unchanged. This, in turn, means thousands of organizations had to adapt quickly to maintain productivity and security for employees, allowing them to easily connect and collaborate with colleagues. Any comment on long term debt. Turning to retention. Yes, thanks. In my initial analysis of Okta in early May, I identified Ping and Microsoft as the two meaningful competitors for consideration. Date: Thursday, March 5, 2020Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) I really appreciate it. The press release will be accessible from the Okta investor relations website prior to the commencement of the conference call. Thanks for the feedback. Our industry-leading cloud-based platform is addressing more and more complex use cases across both workforce and customer identity, and we continue to innovate to address those cases as you saw at Oktane last month. I'll jump in and comment on that. I think the other thing you're seeing is that people are deciding on the medium term now, what is the next three to six months to a year and what projects can they pull forward and what can they reprioritize to do this inevitable move to better customer websites, better mobile apps, better tools for their employees. And with Okta's workforce identity, the state's employees and contractors will be able to more efficiently do their jobs. Are you going to look to the outside? Our next question comes from Andy Nowinski from D.A. I think it's really important that the company -- let me give you some color on how I think about the framework of how we manage both in general and just in time like COVID-19. I’m long okta, docu, TTD to name few. There's no better example than what we did to help our valued customer, FedEx. Thanks, Todd, and thank you to everyone for joining us. However, she keeps an Equal Weight rating on Okta shares as she thinks this is fully reflected in investor expectations. Now as you mentioned, it's about how do they tactically execute to that and how does that, more specifically Okta, how does that impact our business. The Okta Integration Network Easily adopt the latest apps, centralize user management, and automate access workflows across cloud, on-prem, and mobile applications. That makes sense. This percentage jumped to over 25% recently. Okta Announces Date for its Fourth Quarter and Fiscal Year 2020 Earnings Conference Call, Protect and enable employees, contractors, partners. Great, thank you very much. I think you're just going to see more and more of that in the times ahead. Q1 Subscription revenue was $56.8M, growing at 19% year/year. The strength in billings was driven by both new and existing customers, as well as beneficial invoice timing. At the same time, I would point back to a number of the different cross-sells and upsells we had this quarter that are symptomatic of what we're doing, whether it's M&A like T-Mobile and they're trying to integrate new organizations very quickly or whether it's organizations like Moody's, who has been a smaller customer of ours when it expanded not only workforce, but also into customer identity management. Okta beat estimates by about 9% in annualized growth. The small and medium-sized business, even though that is a very small piece of our business, especially in the impacted industries, having some risk. We have strong pipeline. Just a question on the competitive dynamics. In Q1, we also experienced a slight increase in the gross retention rate within our enterprise customer base, which makes up the vast majority of our business. Okta has earned a reputation as a thought leader on the future of how people will work, and we are helping our customers move down this path in accelerated time frames. Look, our leadership position in identity has positioned us really well. FY2021 EPS estimate of ($0.23) to ($0.18) vs. ($0.32), representing a raise of $0.12 at the midpoint. Next question comes from Sterling Auty from JPMorgan. GAAP net loss was One scenario is inside impacted industries. Okta, Inc. (OKTA) Q1 2021 Earnings Call Transcript OKTA earnings call for the period ending April 30, 2020. Free cash flow was US$ 11.1 million in the first quarter 2020, compared to negative US$ … SAN FRANCISCO--(BUSINESS WIRE)--Nov. 1, 2019--
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