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Okta reported a 12% year-over-year increase in subscription revenues for Q1 fiscal 2026, reaching $673 million, which constitutes 98% of its total revenues. The company’s remaining performance obligations (RPO) grew by 21% year-over-year while current RPO (cRPO) increased by 14%, indicating a solid growth pipeline. Strategic enhancements to its identity platform, including new modules focused on zero-trust security, contributed to 15% of new bookings.
Okta’s restructuring targeted distinct customer segments, leading to a 20% rise in customers with annual contract values exceeding $1 million. The company also recorded a 27% non-GAAP operating margin and 35% free cash flow, providing a strong foundation for continued product development and expansion initiatives. Currently, Okta’s shares have gained 16.2% year-to-date, and its fiscal Q2 2026 earnings estimate is pegged at 84 cents per share, marking a 16.67% increase compared to the previous year.
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