Abnormal AI vs Okta: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Abnormal AI. Okta had $2.9B of annual revenue in FY2026 and $235M of net income.
Latest financial snapshot
Abnormal AI
- Latest annual revenue
- Unavailable here
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- —
Okta
- Latest annual revenue
- $2.9B (FY2026)
- Net income
- $235M
- Net margin
- 8.1%
- Revenue growth
- +38.0% a year, FY2017–FY2026
Financial summary
Abnormal AI
Abnormal is private and does not publish audited financials. The company has disclosed ARR milestones: a 3x increase in 2020, a tripling in 2021, more than $100 million in August 2023 and more than $200 million in August 2024, when it said ARR was still growing over 100% a year. Reuters reported in 2023 that it was not yet profitable. Funding totals $546 million in expected proceeds across a $24 million Series A (2019), $50 million Series B (2020), $210 million Series C at a $4 billion valuation (2022) and $250 million Series D at $5.1 billion (2024).
Okta
Okta crossed into GAAP profitability in fiscal 2025 ($28 million net income on $2.610 billion revenue) and expanded it in fiscal 2026: revenue rose 12% to $2.919 billion, GAAP operating income reached $149 million, net income $235 million and free cash flow $863 million (30% margin). Momentum continued in fiscal 2027. Q2 FY2027 (ended July 31, 2026) revenue grew 11% to $805 million, GAAP net income was $116 million, free cash flow $227 million, and remaining performance obligations rose 17% to $4.858 billion. Okta held $2.299 billion of cash and short-term investments after repaying the last $350 million of its 2026 convertible notes in cash, and it has been buying back stock. Okta, Inc. is a massive American cloud-based identity and access management company, commanding a market valuation typically exceeding $15 billion.
Revenue and profit by year
Abnormal AI
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2024 run-rate | $200M | — | — | — | Source |
| FY2024 run-rate | $200M | — | — | — | Source |
| FY2023 run-rate | $100M | — | — | — | Source |
Okta
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $2.9B | $235M | 8.1% | +11.8% | Source |
| FY2025 | $2.6B | $28M | 1.1% | +15.3% | Source |
| FY2024 | $2.3B | -$355M | -15.7% | +21.8% | Source |
| FY2023 | $1.9B | -$815M | -43.9% | +42.9% | Source |
| FY2022 | $1.3B | -$848M | -65.2% | +55.7% | Source |
| FY2021 | $835M | -$266M | -31.9% | +42.5% | Source |
| FY2020 | $586.1M | -$208.9M | -35.6% | +46.8% | Source |
| FY2019 | $399.3M | -$125.5M | -31.4% | +55.6% | Source |
| FY2018 | $256.5M | -$109.8M | -42.8% | +59.5% | Source |
| FY2017 | $160.8M | -$75.1M | -46.7% | — | Source |
Where the revenue comes from
Abnormal AI
- Inbound Email Security subscriptions
Not formally reported
The core product, sold as an annual subscription. It connects to Microsoft 365 or Google Workspace through APIs and removes messages that deviate from each user's normal behavior.
- Add-on security products
Not formally reported
Sold to existing customers on the same platform: account takeover detection, AI Phishing Coach training, Email DLP, Identity Threat Protection, AI Governance and AI Cloud Security.
Okta
- Subscription~98%
$2.855 billion of fiscal 2026 revenue from workforce and customer identity subscriptions.
- Professional services and other~2%
About $64 million in fiscal 2026; Okta is shifting this work to partners.
Business model and strategy
Abnormal AI
How it makes money
Abnormal sells annual software subscriptions to organizations, most of them large enterprises. Its core product, Inbound Email Security, connects to Microsoft 365 or Google Workspace through APIs, builds a baseline of each user's normal behavior, and removes messages that deviate from it.
Growth strategy
Abnormal grows by landing large enterprises with email security and then adding products on the same platform. Geographic expansion has added Germany (2025), Japan (from 2025, with SoftBank as reseller from 2026), Singapore (IMDA accreditation in 2026) and the U.S. public sector through FedRAMP Moderate and GovRAMP authorizations.
Competitive advantage
Abnormal's advantage is its API-based deployment and behavioral models. Because it connects directly to Microsoft 365 or Google Workspace, customers do not need to change MX records, and the platform can see internal mail and sign-in activity that an external gateway does not. In 2026 it launched Attune 1.0, a behavioral foundation model trained on more than one billion derived behavioral signals.
Okta
How it makes money
Okta makes money by selling term subscriptions to its cloud identity services. Workforce identity products such as Single Sign-On, Adaptive MFA, Universal Directory, Lifecycle Management, Okta Identity Governance and Privileged Access are generally priced per user per month and sold on annual or multi-year contracts.
Growth strategy
Okta's growth strategy has three parts: sell newer products (Okta Identity Governance, Privileged Access, Identity Threat Protection, Identity Security Posture Management) into its existing base; move up-market, where customers above $1 million in ACV grew more than 20% to over 600 by mid-2026;
Competitive advantage
Okta's main advantage is neutrality. It does not sell a cloud, an operating system or a productivity suite, so customers running AWS, Google Cloud, Microsoft and hundreds of SaaS tools can use one identity layer without favouring a single vendor. The Okta Integration Network offers more than 7,000 pre-built integrations, and identity systems are costly to replace once wired into HR, IT and security workflows.
Questions about Abnormal AI vs Okta
Which company has higher revenue — Abnormal AI or Okta, Inc.?
Okta, Inc. had $2.9B (FY2026). A comparable annual revenue figure for Abnormal AI was unavailable here.
What is the market cap of Abnormal AI vs Okta, Inc.?
Okta, Inc. has a market capitalisation of $33.0B. A public market cap figure for Abnormal AI was not available (it may be privately held).
How does revenue per employee compare for Abnormal AI and Okta, Inc.?
Okta, Inc. generates $459k / employee in revenue per employee. A comparable figure for Abnormal AI requires matching employee and revenue data from the same reporting period.
How do Abnormal AI and Okta, Inc. make money?
Abnormal AI and Okta, Inc. generate revenue in fundamentally different ways. Abnormal AI: Abnormal sells annual software subscriptions to organizations, most of them large enterprises. Okta, Inc.: Okta makes money by selling term subscriptions to its cloud identity services.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Abnormal AI vs Okta overview