Okta, Inc.
- Open
- 144.66
- Day high
- 153.44
- Day low
- 142.58
- Prev close
- 147.74
- Volume
- 1.2M
- Mkt cap
- $25.9B
- P/E (TTM)
- 105.5
- EPS (TTM)
- $1.41
- P/B
- 3.8
- P/S
- 8.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$21.9M over the last 3 months (2 open-market buys, 25 sales)
- 🏛Institutions mixed (13F)
Okta, Inc. (OKTA) is a Technology company listed on NASDAQ. The stock is up 66% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 25 sales (SEC Form 4). Drillr has 1 published research article covering OKTA.
Okta, Inc. (OKTA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 23 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OKTA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 28, 2026 | $0.85 | $0.91 | +6.7% | $765M | +1.7% |
| Mar 4, 2026 | $0.85 | $0.90 | +5.9% | $761M | +1.1% |
| Dec 2, 2025 | $0.76 | $0.82 | +8.2% | $742M | +1.5% |
| Aug 26, 2025 | $0.85 | $0.91 | +7.4% | $728M | +2.2% |
| May 27, 2025 | $0.77 | $0.86 | +11.7% | $688M | +1.1% |
| Mar 3, 2025 | $0.74 | $0.78 | +6.0% | $682M | +2.0% |
| Dec 3, 2024 | $0.58 | $0.67 | +15.5% | $665M | +2.3% |
| Aug 28, 2024 | $0.61 | $0.72 | +18.0% | $646M | +2.1% |
| May 29, 2024 | $0.54 | $0.65 | +19.7% | $617M | +2.1% |
| Feb 28, 2024 | $0.51 | $0.63 | +23.8% | $605M | +3.0% |
| Nov 29, 2023 | $0.30 | $0.44 | +46.7% | $584M | +3.7% |
| Aug 30, 2023 | $0.21 | $0.31 | +47.6% | $556M | +4.0% |
OKTA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 10, 2026 | McKinnon Todddirector, officer: Chief Executive Officer | Sell | 29,502 | $146.39 |
| Jul 10, 2026 | McKinnon Todddirector, officer: Chief Executive Officer | Sell | 12,695 | $145.63 |
| Jul 10, 2026 | McKinnon Todddirector, officer: Chief Executive Officer | Sell | 25,034 | $147.30 |
| Jul 10, 2026 | McKinnon Todddirector, officer: Chief Executive Officer | Sell | 1,705 | $148.16 |
| Jun 24, 2026 | Schwartz Larissaofficer: See Remarks | Sell | 2,463 | $120.00 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 1,777 | $117.59 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 1,000 | $111.05 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 200 | $107.97 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 400 | $109.00 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 300 | $112.15 |
| Jun 23, 2026 | Kelleher Eric Robertofficer: See Remarks | Sell | 100 | $118.49 |
| Jun 22, 2026 | Bates Anthony Johndirector | Option | 2,033 | — |
| Jun 22, 2026 | ARCHAMBEAU SHELLYE Ldirector | Grant | 2,487 | — |
| Jun 22, 2026 | Dixon Robert L JRdirector | Option | 2,487 | — |
| Jun 22, 2026 | ARCHAMBEAU SHELLYE Ldirector | Option | 2,487 | — |
Source: OKTA SEC Form 4 filings, latest Jul 10, 2026. For informational purposes only — not investment advice.
See the full OKTA insider & 13F page →OKTA research & analysis
Okta, Inc. company profile
Overview
Okta, Inc. (NASDAQ:OKTA) is a leading identity and access management company founded in 2009 and headquartered in San Francisco, California. Originally incorporated as Saasure, Inc., the company went public in April 2017 and has since established itself as a major player in the cloud-based identity solutions market. Okta provides comprehensive identity management platforms that help organizations securely manage user access to applications and data across cloud, mobile, and on-premise environments. The company serves enterprises, small and medium-sized businesses, universities, non-profits, and government agencies globally, with over 18,000 customers as of recent reports.
Business
Okta operates in the identity and access management (IAM) industry, which is a critical component of cybersecurity infrastructure. The company's core offering is the Okta Identity Cloud, a comprehensive platform that manages digital identities and controls access to applications and data. Think of it as a digital security guard that verifies who you are and what you're allowed to access when you log into work applications or websites. The company operates two primary business segments that each generate over $1 billion in annual revenue: 1. Workforce Identity (approximately 60% of revenue): This segment focuses on helping organizations manage their employees' access to internal applications and systems. Key products include Single Sign-On (SSO), which allows employees to access multiple applications with one login; Multi-Factor Authentication (MFA), which adds extra security layers; and Universal Directory, which serves as a centralized database of user profiles and permissions. 2. Customer Identity (approximately 40% of revenue): This segment, largely powered by the acquired Auth0 platform, helps businesses manage their customers' identities when they interact with websites, mobile apps, and digital services. This includes login experiences, user registration, and authentication for consumer-facing applications. The company also offers newer products including Okta Identity Governance (OIG) for compliance and access reviews, Privileged Access Management (PAM) for securing high-level system access, and Identity Threat Protection for detecting suspicious activities. These newer products represented about 20% of bookings in recent quarters, indicating strong adoption of the expanded product suite.
Revenue model
Okta operates on a Software-as-a-Service (SaaS) subscription model, generating revenue primarily through recurring annual contracts. Customers pay based on the number of users (seats) they need to manage and the specific features they require. The company offers tiered pricing with different feature sets, allowing organizations to scale their identity management capabilities as they grow. Revenue streams include subscription fees for the core identity platform, additional charges for premium features like advanced security capabilities, and professional services for implementation and support. The company has demonstrated strong pricing power, with the ability to expand revenue from existing customers through seat expansion (adding more users) and feature upsells (selling additional products to the same customer). Several factors influence Okta's profitability margins. Positive margin drivers include the company's strong gross margins (over 80% for subscription revenue), economies of scale as the platform serves more customers, and the increasing adoption of higher-value products like governance and privileged access management. The company benefits from the secular trend toward cloud adoption and increased security awareness, particularly following high-profile cybersecurity incidents. Margin pressures come from intense competition in the identity management space from both established players like Microsoft and newer entrants, the need for continuous R&D investment to stay ahead of evolving security threats, and sales and marketing expenses required to acquire new customers in a competitive market. Economic downturns can also pressure margins as customers may reduce seat counts or delay expansion plans, affecting the company's net retention rates.
Competitive moat
Okta's competitive moat is moderately strong but faces significant challenges. The company's primary advantages include its platform approach and vendor neutrality. Unlike competitors tied to specific technology ecosystems (such as Microsoft's integration with Windows), Okta positions itself as an independent platform that can integrate with thousands of applications and systems. This neutrality makes it attractive to organizations using diverse technology stacks. The company benefits from high switching costs once implemented, as identity management systems become deeply integrated into an organization's IT infrastructure. Changing providers requires significant time, resources, and risk, creating customer stickiness reflected in the company's mid-90% gross retention rates. However, Okta's moat faces substantial threats. Microsoft represents the most significant competitive challenge, leveraging its dominant position in enterprise software to bundle identity management capabilities with existing products like Office 365 and Azure. Microsoft can offer identity services at effectively zero marginal cost, creating pricing pressure across the industry. The company also faces competition from cloud hyperscalers like Amazon Web Services and Google Cloud, which integrate identity management into their broader cloud platforms. Additionally, the identity management market is becoming increasingly commoditized, with basic SSO and MFA capabilities becoming table stakes rather than differentiators. Okta's recent security incidents have also potentially weakened its moat by raising questions about the company's core value proposition of providing secure identity management. While the company has responded with comprehensive security improvements, trust is crucial in the cybersecurity industry, and any perception of vulnerability can impact competitive positioning.
Risks & safety
Okta presents a moderate margin of safety with mixed financial health indicators: Overall Assessment: The company shows solid operational cash generation but trades at premium valuations with moderate balance sheet strength. • Liquidity and Solvency: Strong current ratio of 1.30, indicating adequate short-term liquidity. Debt-to-equity ratio of 0.15 shows conservative leverage. Cash and short-term investments of $409 million provide reasonable cushion. • Cash Generation: Positive free cash flow of $730 million for fiscal 2025, representing a healthy 28% free cash flow margin. Operating cash flow of $750 million demonstrates strong cash conversion from operations. • Valuation Metrics: High EV/EBITDA ratio of 97x indicates expensive valuation. Price-to-book ratio of 2.5x suggests premium pricing relative to book value. Graham number of $10.59 significantly below current price of $116, indicating potential overvaluation by traditional value metrics. • Profitability: Recently achieved GAAP profitability with $28 million net income for fiscal 2025, marking improvement from previous losses. Low but positive return on equity of 0.44% shows minimal shareholder returns. • Other Considerations: High customer concentration risk with large enterprise customers, subscription revenue model provides predictable cash flows, and strong gross margins over 80% support operational leverage potential.
Recent development
Over the past few years, Okta has undergone significant strategic evolution focused on three key areas: security enhancement, product expansion, and go-to-market optimization. Security Transformation: Following a security incident in late 2023, Okta launched the "Okta Secure Identity Commitment" and "Project Bedrock," comprehensive initiatives to transform the company into one of the most secure identity providers. This included architectural improvements, enhanced monitoring capabilities, and the development of new security-focused products like Identity Threat Protection and Identity Security Posture Management. Product Portfolio Expansion: The company has aggressively expanded beyond basic identity management into a comprehensive identity platform. Key additions include Okta Identity Governance (OIG), which now serves over 1,300 customers and generates over $100 million in annual contract value, Privileged Access Management (PAM) for securing high-level system access, and Auth for Gen AI to address emerging artificial intelligence security needs. These newer products now represent approximately 20% of quarterly bookings. Go-to-Market Specialization: Okta has implemented a specialized sales approach, separating its workforce identity business (targeting IT and security buyers) from its customer identity business powered by Auth0 (targeting developers). The company has also significantly expanded its partner ecosystem, with over 70% of deals now involving partners and particular strength in relationships with global systems integrators. Market Focus Shifts: The company has increasingly focused on large enterprise customers and the public sector, with particular success in federal government contracts. This shift reflects a strategy to pursue higher-value, more stable customer relationships while building specialized capabilities for highly regulated industries.
OKTA company profile · for informational purposes only — not investment advice.
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