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OKTA

Okta, Inc.

OKTA

Okta, Inc. • NASDAQ
$80.33 ▼ -0.29% (-0.23)
Market Cap $13.53 B
52w High $127.57
52w Low $76.35
Dividend Yield 0%
P/E 95.63
Volume 1.64M
Outstanding Shares 168.46M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $728M ▲ $519M ▲ $67M ▲ 9.203% ▲ $0.38 ▲ $92M ▼
Q1-2026 $688M ▲ $494M ▼ $62M ▲ 9.012% ▲ $0.36 ▲ $93M ▲
Q4-2025 $682M ▲ $516M ▼ $23M ▲ 3.372% ▲ $0.13 ▲ $56M ▲
Q3-2025 $665M ▲ $524M ▲ $16M ▼ 2.406% ▼ $0.09 ▼ $40M ▲
Q2-2025 $646M $510M $29M 4.489% $0.17 $38M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $2.858B ▲ $9.55B ▲ $2.796B ▼ $6.754B ▲
Q1-2026 $2.725B ▲ $9.365B ▼ $2.798B ▼ $6.567B ▲
Q4-2025 $2.523B ▲ $9.437B ▲ $3.032B ▲ $6.405B ▲
Q3-2025 $2.248B ▼ $9.01B ▼ $2.745B ▼ $6.265B ▲
Q2-2025 $2.358B $9.067B $2.934B $6.133B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $67M ▲ $167M ▼ $238M ▲ $-22M ▲ $384M ▲ $162M ▼
Q1-2026 $62M ▲ $241M ▼ $-120M ▲ $-45M ▼ $85M ▼ $238M ▼
Q4-2025 $23M ▲ $286M ▲ $-177M ▼ $-7M ▲ $97M ▲ $284M ▲
Q3-2025 $16M ▼ $159M ▲ $-99M ▼ $-265M ▼ $-204M ▼ $154M ▲
Q2-2025 $29M $86M $156M $-50M $193M $78M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Subscription and Circulation
Subscription and Circulation
 $630.00M ▲$650.00M ▲$670.00M ▲$670.00M ▲
Technology Service
Technology Service
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Okta’s income statement shows a business that has moved from heavy losses toward a more balanced, almost breakeven profile. Revenue has grown strongly year after year, and gross profit has risen along with it, which suggests the core service remains in demand and scales well. Operating losses have narrowed significantly, and measures of underlying profitability have shifted from meaningfully negative to modestly positive. Net results have improved from deep losses to roughly break-even with a small profit recently. Overall, the story is one of strong growth transitioning into a focus on efficiency and profitability, though the track record of consistent profit is still short and relatively fragile.

Balance Sheet

Balance Sheet The balance sheet appears much stronger today than a few years ago. Total assets are large and stable, and shareholder equity has steadily increased, indicating that cumulative losses have been absorbed and the capital base has been rebuilt and expanded. Debt has been coming down over time, reducing financial risk and interest burden. Cash on hand is reasonable but not excessive, so the company still needs to manage working capital and investment carefully. In short, Okta now looks more solidly capitalized and less leveraged than in the past, but it does not have an unlimited cash cushion.

Cash Flow

Cash Flow Cash flow is a relative bright spot. Okta has shifted from minimal operating cash generation to producing healthy, positive operating cash flow in recent years. Free cash flow has followed a similar path, moving from barely positive to comfortably positive, helped by a business model that does not require heavy spending on physical assets. This means the company is increasingly able to fund its own growth and debt reduction from internal cash rather than relying heavily on external financing. The key watchpoint is whether this stronger cash generation can be maintained if growth slows or competition intensifies.

Competitive Edge

Competitive Edge Okta holds a leading position in independent identity and access management, especially for organizations that use a mix of different cloud and software providers. Its vendor‑neutral approach, large integration network, and strong focus on user experience create switching costs that make it painful for customers to leave once embedded. The acquisition of Auth0 deepened its presence in customer identity and strengthened its appeal to developers. However, the company faces very intense competition from platform giants, especially Microsoft, which can bundle identity services into broader suites. That dynamic keeps Okta’s moat relatively narrow: strong within its niche, but constantly tested by larger ecosystems and pricing pressure.

Innovation and R&D

Innovation and R&D Innovation is central to Okta’s strategy. The company was built as a cloud‑native identity platform and has continually expanded capabilities through its integration network, workflow automation, and the Auth0 developer platform. More recently, Okta is pushing into newer areas such as securing AI agents, expanding identity governance, enabling passwordless sign‑in, and using AI to detect identity‑based threats. These efforts aim to keep Okta at the center of how users and machines access digital systems. The opportunity is substantial, but execution risk is high: the identity market evolves quickly, and Okta must both out‑innovate larger rivals and smoothly integrate new offerings into a coherent platform that customers can adopt without friction.

Summary

Overall, Okta looks like a maturing growth company in a critical security niche. The business has evolved from fast growth with heavy losses to strong growth with improving profitability and solid free cash flow. The balance sheet has strengthened as debt has come down and equity has built up, giving the company more resilience than in its earlier years. Competitively, Okta benefits from being independent and widely integrated, but it operates in the shadow of very large platform players, which constrains its advantage. Its long‑term outcome will largely depend on maintaining technical leadership in identity, successfully monetizing new areas like AI‑related identity security and governance, and proving that recent profitability and cash generation are sustainable through different market conditions.

NEWS

November 18, 2025 · 11:00 AM UTC

Okta Named a Leader in 2025 Gartner® Magic Quadrant™ for Access Management for Ninth Consecutive Year

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November 3, 2025 · 8:00 AM UTC

Okta to Announce Third Quarter Fiscal Year 2026 Financial Results on December 2, 2025

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September 25, 2025 · 8:00 AM UTC

New Okta Innovations Secure the AI-Driven Enterprise and Combat Fraud with an Identity Security Fabric

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September 24, 2025 · 8:00 AM UTC

Nametag Introduces Verified Human Signatures for Agentic AI Actions, Expanded Okta Integration

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September 22, 2025 · 8:00 AM UTC

Okta to Host Investor Summit Webcast in Conjunction with Oktane

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