Okta, Inc. reported a total revenue of $2.919 billion for the fiscal year ending January 31, 2026, marking a 12% increase from $2.610 billion in the previous fiscal year. The company's subscription revenue, which constitutes approximately 98% of total revenue, rose to $2.855 billion, up from $2.556 billion in fiscal 2025. This growth was primarily driven by an increase in the number of users and additional solutions sold to existing customers, reflected in a dollar-based net retention rate of 106%. The company also achieved a net income of $235 million, a significant improvement from a net income of $28 million in the prior year and a net loss of $355 million in fiscal 2024.

In terms of operational metrics, Okta reported having 5,100 customers with an annual contract value exceeding $100,000 as of January 31, 2026, up from 4,800 the previous year. The company’s remaining performance obligations, which represent future contracted revenue, totaled approximately $4.827 billion, with $2.513 billion expected to be recognized within the next 12 months. The company’s workforce also expanded, with a total employee count of 6,366 as of January 31, 2026.

Strategically, Okta made significant moves during the fiscal year, including the acquisition of Axiom Security Ltd for $54 million, aimed at enhancing its privileged access management capabilities. The company also initiated a stock repurchase program in January 2026, authorizing up to $1 billion in share buybacks, of which approximately $921 million remained available as of January 31, 2026. Additionally, Okta is focusing on expanding its product offerings to include solutions for AI agents, which are currently in early access.

Looking ahead, Okta anticipates continued growth driven by its subscription model and the expansion of its customer base, particularly among larger enterprises. However, the company acknowledges potential challenges, including longer sales cycles and macroeconomic uncertainties that could impact future revenue growth. Okta's management remains committed to investing in research and development to enhance its platforms and maintain competitive advantages in the identity management market.

About Okta, Inc.

Okta, Inc. provides cloud-based identity and access management solutions for organizations worldwide. Its platforms enable secure, seamless access for employees, contractors, partners, and customers across applications, devices, and environments. Focused on security, scalability, and integration, Okta serves diverse industries with subscription-based services, supporting digital transformation, zero-trust security, and developer-friendly identity tools to enhance user experience and protect digital assets.

This description was generated via AI from an annual report. Updated 10 months ago.

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