Okta (OKTA) aims for a 15% compound annual growth rate in revenues, projecting revenues to rise from $1.86 billion in fiscal 2023 to nearly $2.86 billion by fiscal 2026. For Q1 fiscal 2026, Okta reported an 11.5% revenue increase to $688 million, with remaining performance obligations growing 21% year over year.
The number of customers generating over $1 million in annual contract value rose by 20% year over year, indicating solid momentum despite near-term cautious guidance of 9-10% year-over-year growth. The Zacks Consensus Estimate for Q2 fiscal 2026 earnings is at 84 cents per share, reflecting a 16.67% year-over-year growth.
Okta competes with Microsoft (MSFT) and CyberArk (CYBR) in the identity access management sector. Microsoft’s Entra ID has over 900 million monthly active users, while CyberArk’s acquisitions enhance its identity security platform, creating stiff competition in enterprise cybersecurity.
