Award Context and Insight

07/20/2021 12:45 PM

Okta Gets Incremental $5.6 Million Federal Agency Deal

Okta's $5.6 million contract with the U.S. Commerce Department signed May 18 represents incremental revenue. Although the contract has a five-year term, it appears to obligate, or guarantee, $5.6 million for the first year of performance. This amount includes implementation services, so the annual recurring amount is likely less than the first-year deal value.

The government's data doesn't specify the value of the option years. Nation Analytics is submitting a record request for details about this award and will update this note with any additional information we receive.