Okta, Inc. reported its financial results for the three months ending April 30, 2026, revealing a total revenue of $765 million, a significant increase of 11% from $688 million in the same period last year. The growth was primarily driven by a rise in subscription revenue, which reached $750 million, up from $673 million, reflecting an increase in users and additional solutions sold to existing customers. The company reported a net income of $74 million, or $0.42 per diluted share, compared to $62 million, or $0.35 per diluted share, in the prior year, marking a 19% increase in profitability.
In terms of operational metrics, Okta's Dollar-Based Net Retention Rate stood at 107% as of April 30, 2026, indicating strong customer retention and expansion. The number of customers with an annual contract value exceeding $100,000 rose to 5,180, up from 4,870 a year earlier. The company also reported total remaining performance obligations of $4.719 billion, with $2.499 billion expected to be recognized as revenue over the next 12 months. These figures suggest a solid foundation for future revenue growth.
Okta has made strategic moves to enhance its market position, including the acquisition of Axiom Security Ltd. in September 2025, which is expected to bolster its privileged access management capabilities. The company continues to invest in its platforms, with research and development expenses increasing to $163 million from $154 million year-over-year. Additionally, Okta has initiated a $1 billion share repurchase program, under which it repurchased approximately 3 million shares for $241 million during the quarter.
Despite the positive financial performance, Okta faces challenges from macroeconomic conditions, including inflation and market volatility, which could impact future growth. The company has acknowledged the potential adverse effects of cybersecurity incidents on its reputation and financial results, as seen in past events. Looking ahead, Okta remains focused on expanding its international operations and enhancing its product offerings, while maintaining a strong liquidity position with cash and short-term investments totaling $2.589 billion as of April 30, 2026. The company believes its existing resources will be sufficient to meet its operational needs and support future growth initiatives.
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.
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