Okta Inc (NASDAQ: OKTA) is an identity security company that provides cloud-based platforms enabling organizations and developers to manage and secure access for human users, non-human identities, and AI agents across applications, IT infrastructure, and APIs. Revenue comes primarily from subscription contracts for the Okta Platform and Auth0 Platform, with a smaller professional services component. Total revenue was $2,919 million in FY2026 (year ended January 31, 2026), up 12% from $2,610 million in FY2025 and $2,263 million in FY2024. Subscription gross margin was 80% in FY2026. The company operates as one reportable segment and serves a customer base ranging from large enterprises to small businesses, universities, nonprofits, and government agencies. Okta generated net income of $235 million in FY2026, compared to net income of $28 million in FY2025 and a net loss of $355 million in FY2024. As of January 31, 2026, accumulated deficit stood at $2,567 million. Switching costs are embedded through deep integrations across enterprise IT stacks, though Dollar-Based Net Retention Rate declined year-over-year as of January 31, 2026, attributed to slower ACV expansion from existing customers in a difficult macroeconomic environment.

Revenue model

Subscription contracts for the Okta Platform and Auth0 Platform generate the majority of revenue, with gross margin of 80% in FY2026. A smaller professional services and other segment carries a negative gross margin of (29)% in FY2026. Revenue is recognized over contract terms, with remaining performance obligations representing non-cancelable contracted future revenue. The company tracks Dollar-Based Net Retention Rate, which incorporates user expansion and upsells net of churn and contraction from existing customers.

Products and services

The Okta Platform serves IT and security leaders managing access for human users and non-human identities across cloud, mobile, web, SaaS, on-premises, and API environments. The Auth0 Platform targets developers embedding identity into software applications. Both platforms are extending capabilities toward AI agent identity management, with new offerings in development and early access as of the FY2026 filing date. Integrations are delivered through the Okta Integration Network, spanning a broad range of application, IT infrastructure, and security vendors. Certifications include SOC 2 Type II, CSA Star Level 2, ISO/IEC 27001:2022, ISO/IEC 27017:2015, and ISO/IEC 27018:2019.

Customers and end markets

Customers include large global enterprises, small and medium-sized businesses, universities, nonprofits, and government agencies. Thousands of organizations and millions of individual users accessed the platforms daily as described in the FY2026 10-K. No customer concentration data is disclosed in the provided excerpts. Larger enterprises frequently begin with limited deployments before scaling. End markets span any organization requiring identity and access management across cloud and on-premises environments.

Value-chain role

Okta sits between end users and the applications, infrastructure, and services they access, acting as an independent identity layer. The platforms integrate with browsers, mobile applications, operating system management tools, and a wide range of third-party vendors, reducing the need for custom identity development by customers and developers.

Geographic exposure

The company operates globally. Specific revenue breakdowns by geography are not provided in the excerpts from the FY2026 10-K filing.

Source: SEC 10-K, filed 2026-03-05

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