Okta, Inc. (Nasdaq: OKTA) is a San Francisco identity and access management company founded in 2009 by Todd McKinnon and Frederic Kerrest. In fiscal 2026, ended January 31, 2026, it reported $2.919 billion in revenue (up 12%), $235 million in GAAP net income and $863 million in free cash flow. Its market value was about $33 billion in September 2026.
What Does Okta Do?
- Workforce identity: single sign-on, adaptive MFA and Okta FastPass, Universal Directory and lifecycle management for employees and contractors.
- Customer identity (Auth0): developer tools for login, registration, passkeys and authorization in customer-facing apps.
- Governance and privileged access: access reviews, requests and just-in-time admin access.
- AI agent security: Agent SSO and an agent runtime gateway announced at Oktane 2026.
How Does Okta Make Money?
About 98% of revenue is subscription: $2.855 billion of $2.919 billion in fiscal 2026. Workforce products are mostly priced per user; Auth0 is priced mainly by monthly active users. Professional services make up the rest and are being shifted to partners.
Recent Results
In Q2 fiscal 2027 (ended July 31, 2026), revenue rose 11% to $805 million, GAAP net income was $116 million, free cash flow was $227 million and remaining performance obligations grew 17% to $4.858 billion. Customers above $100,000 in annual contract value reached 5,255.
Okta vs Microsoft Entra ID
Microsoft bundles Entra ID with Microsoft 365, which makes it Okta's toughest rival. Okta's answer is neutrality: it connects to more than 7,000 apps and works across AWS, Google and Microsoft without steering customers toward one cloud.
