Okta, Inc. (OKTA) financials
NASDAQ · Technology · Software - Infrastructure · 6,366 employees · CEO Todd McKinnon
- Price
- $208.24 -6.14%
- Market cap
- $34.8B
- Enterprise value
- $34.1B
- Last report
- Q2 '27 filed 2026-08-27
- Next report
- 2026-12-01 EPS est. $0.93
Revenue (TTM)$3.07B+11.2% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)7.7%+5.1 pp vs a year agoOperating income $236M
Net income (TTM)$296M+76.2% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$972M+16.0% vs a year agoCapex $15M
Diluted EPS (TTM)$1.66+75.9% vs a year agoSum of the last 4 quarters
Net cash$2.25B+17.1% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $34.8B EV $34.1B
- Revenue
- $3.07B Trailing 12 months
- Revenue growth
- +10% FY2027 consensus
- Profit margin
- 9.6% Net income / revenue, TTM
- P/E
- 123.2× Forward 53.0× (FY2027)
- P/S
- 11.3× Price / sales, TTM
- EV / EBITDA
- 82.8× TTM
- Free cash flow
- $972M Trailing 12 months
- Net income
- $296M Trailing 12 months
- Revenue estimate
- $3.22B FY2027 consensus
- Earnings
- 2026-12-01 Revenue est. $816M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-26): revenue beat by 1.5%, EPS beat by 8.8%Revenue $805M vs $793M expected (+1.5%); EPS $1.05 vs $0.97 (+8.8%).
- Revenue growth slowing: 10.6% year on yearQ2 '27 revenue $805M, against an average of 11.8% over the four quarters before.
- Operating margin 7.7% (TTM), +5.1 pp on a year agoOperating income grew 227.8% while revenue grew 11.2%.
- 27.2% of pre-tax profit is non-operatingPre-tax income $324M vs operating income $236M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 0.5% of revenue (a year ago 0.5%)$15M invested in the last 4 quarters (0.0% on a year earlier). Free cash flow $972M = 328.4% of net income.
- Returned $445M to shareholders = 45.8% of free cash flowBuybacks $445M (a year earlier $0), dividends $0, stock-based pay $503M (TTM).
- Diluted share count down 1.2% in a year179M diluted shares in Q2 '27, 181M a year earlier.
- Net cash $2.25BCash + short-term investments $2.3B, debt incl. leases $53M; a year ago net cash $1.92B.
Last quarter: Q2 '27
Quarter ended 2026-07-31. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '27 | Year ago | Change | |
|---|---|---|---|
| Revenue | $805M | $728M | +10.6% |
| Gross margin | 79.6% | 76.9% | +2.7 pp |
| Operating income | $107M | $41M | +161.0% |
| Operating margin | 13.3% | 5.6% | +7.7 pp |
| Net income | $116M | $67M | +73.1% |
| Diluted EPS | $0.65 | $0.37 | +75.7% |
| Operating cash flow | $234M | $167M | +40.1% |
| Capex | $1M | $5M | -80.0% |
| Free cash flow | $233M | $162M | +43.8% |
| R&D | $163M | $160M | +1.9% |
| Stock-based compensation | $114M | $144M | -20.8% |
Reported vs consensus
2026-08-26| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $805M | $793M | +1.5% |
| EPS (as estimated) | $1.05 | $0.97 | +8.8% |
From the report of 2026-08-26 for Q2 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Subscription and Circulation | $793M | – | 98.5% | $3.73B | – | |
| Technology Service | $12M | – | 1.5% | $76M | – |
Revenue by region
share of total| Segment | Q2 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $97.9M | – | 84.8% | – | – | |
| Non-US | $17.6M | – | 15.2% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $987M
- Capex
- -$15M
- Buybacks
- -$445M
- Dividends
- $0
- Acquisitions
- -$53M
- Net debt issued
- -$860M
- Stock-based compensation
- $503M
- Free cash flow
- $972M
- Returned to shareholders / FCF
- 45.8%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 123.2× | 308.6× 2 of 5 years | 63.0× – 554.2× |
| EV / EBITDA | 82.8× | 75.7× 2 of 5 years | 40.6× – 110.9× |
| EV / Sales | 11.1× | 9.8× | 4.9× – 23.9× |
| Price / FCF | 35.8× | 117.6× | 17.2× – 336.7× |
| Price / Book | 5.2× | 2.8× | 2.1× – 4.9× |
| FCF yield | 2.8% | 3.0% | 0.3% – 5.8% |
| Return on invested capital | 3.0% | -5.1% | -10.3% – 1.9% |
| Return on equity | 4.3% | -6.3% | -14.9% – 3.4% |
Analysts
Consensus target $201.76 (-3.1%)
range $60.00 – $245.00 · rating Buy
Strong buy0
Buy39
Hold13
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $3.22B | +10.4% | $3.93 | +199.9% | 53.0× | 26 |
| FY2028 | $3.54B | +9.9% | $4.34 | +10.6% | 47.9× | 24 |
| FY2029 | $3.92B | +10.7% | $4.89 | +12.5% | 42.6× | 8 |
| FY2030 | $4.15B | +5.8% | $5.09 | +4.1% | 40.9× | 3 |
| FY2031 | $4.47B | +7.8% | $5.57 | +9.4% | 37.4× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 219 figures Okta, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $10M | $12M | -16.7% | $12M | $13M | -7.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $469M | $417M | +12.5% | $687M | $621M | +10.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $6M2025-10-31 | $6M | 0.0% | $4M2025-01-31 | $6M | -33.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $70M2026-01-31 | $56M | +25.0% | $70M | $56M | +25.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $2M | $1M | +100.0% | $13M | -$12M | +208.3% |
| Additional Paid in Capital | $9.35B | $9.43B | -0.8% | $9.55B | $9.22B | +3.6% |
| Advertising Expense | – | – | – | $83M | $68M | +22.1% |
| Amortization of Deferred Sales Commissions | $47M | $40M | +17.5% | $161M | $130M | +23.8% |
| Amortization of Intangible Assets | – | – | – | $83M | $85M | -2.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5.69M2026-04-30 | 4.44M | +28.1% | 4.74M | 8.67M | -45.3% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $117M | $147M | -20.4% | $549M | $570M | -3.7% |
| Assets | $9.14B | $9.55B | -4.3% | $9.71B | $9.44B | +2.9% |
| Assets, Current | $3.09B | $3.57B | -13.4% | $3.64B | $3.42B | +6.7% |
| Assets, Fair Value Disclosure | $2.07B | $2.68B | -22.8% | $2.37B | $2.36B | +0.1% |
| Capitalized Contract Cost, Amortization | $47M | $40M | +17.5% | $161M | $130M | +23.8% |
| Capitalized Contract Cost, Net, Current | $173M | $150M | +15.3% | $171M | $140M | +22.1% |
| Capitalized Contract Cost, Net, Noncurrent | $331M | $268M | +23.5% | $332M | $267M | +24.3% |
| Cash and Cash Equivalents, at Carrying Value | $763M | $876M | -12.9% | $858M | $409M | +109.8% |
| Cash and Cash Equivalents, Fair Value Disclosure | $530M | $694M | -23.6% | $670M | $248M | +170.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $769M | $884M | -13.0% | $864M | $415M | +108.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $1M | $384M | -99.7% | $449M | $73M | +515.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $109M | $63M | +73.0% | $260M | $22M | +1,081.8% |
| Contract with Customer, Liability, Current | $1.75B | $1.55B | +13.0% | $1.88B | $1.69B | +10.9% |
| Contract with Customer, Liability, Noncurrent | $30M | $24M | +25.0% | $30M | $27M | +11.1% |
| Convertible Debt, Current | $0 | $859M | -100.0% | $350M | $509M | -31.2% |
| Convertible Debt, Noncurrent | $02026-01-31 | $349M | -100.0% | $0 | $349M | -100.0% |
| Cost of Goods and Services Sold | $164M | $168M | -2.4% | $661M | $618M | +7.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$1M | $5M | -120.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $7M | $9M | -22.2% |
| Current Income Tax Expense (Benefit) | – | – | – | $8M | $16M | -50.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2M | $2M | 0.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $446M | $374M | +19.3% | $308M | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $1.09B | $1.61B | -32.2% | $1.39B | – | – |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $1.54B | $1.98B | -22.5% | $1.7B | $2.11B | -19.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $12M | $2M | +500.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $12M | $2M | +500.0% |
| Deferred Income Taxes and Tax Credits | $1M | $1M | 0.0% | $13M | $2M | +550.0% |
| Deferred Tax Assets, Gross | $1.22B2026-01-31 | $1.28B | -4.7% | $1.22B | $1.28B | -4.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $130M2026-01-31 | $135M | -3.7% | $130M | $135M | -3.7% |
| Deferred Tax Assets, Operating Loss Carryforwards | $720M2026-01-31 | $702M | +2.6% | $720M | $702M | +2.6% |
| Deferred Tax Assets, Tax Credit Carryforwards | $176M2026-01-31 | $146M | +20.5% | $176M | $146M | +20.5% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $27M2026-01-31 | $41M | -34.1% | $27M | $41M | -34.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $27M2026-01-31 | $24M | +12.5% | $27M | $24M | +12.5% |
| Deferred Tax Assets, Valuation Allowance | $1.09B2026-01-31 | $1.14B | -4.8% | $1.09B | $1.14B | -4.8% |
| Deferred Tax Liabilities, Gross | $158M2026-01-31 | $148M | +6.8% | $158M | $148M | +6.8% |
| Deferred Tax Liabilities, Net | $28M2026-01-31 | $13M | +115.4% | $28M | $13M | +115.4% |
| Deferred Tax Liabilities, Other | $16M2026-01-31 | $15M | +6.7% | $16M | $15M | +6.7% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $02026-01-31 | $14M | -100.0% | $0 | $14M | -100.0% |
| Deferred Tax Liabilities, Tax Deferred Income | $124M2026-01-31 | $99M | +25.3% | $124M | $99M | +25.3% |
| Defined Contribution Plan, Employer Discretionary Contribution Amount | – | – | – | $17M | $18M | -5.6% |
| Depreciation | – | – | – | $13M | $13M | 0.0% |
| Earnings Per Share, Basic | $0.67 | $0.38 | +76.3% | $1.33 | $0.16 | +731.3% |
| Earnings Per Share, Diluted | $0.65 | $0.37 | +75.7% | $1.31 | $0.06 | +2,083.3% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | -$3M | $1M | -400.0% | $14M | -$4M | +450.0% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $54M | – | – |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | -$51M | – | – |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | -20.0% | 27.4% | -173.0% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | – | – | – | 8.1%2025-01-31 | -0.7% | +1,257.1% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | – | – | – | $4M | – | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-31, 10-Q 2026-04-30, 10-K 2026-01-31, 10-Q 2025-10-31, 10-Q 2025-07-31, 10-Q 2025-04-30, 10-K 2025-01-31, 10-Q 2024-10-31, 10-Q 2024-07-31
Data as of 2026-11-02