OKTA

EX-99.1

2 okta-4302026_ex991.htm

EX-99.1

Document

Exhibit 99.1

Okta Announces First Quarter Fiscal Year 2027 Financial Results

•Q1 revenue and subscription revenue grew 11% year-over-year

•Remaining performance obligations (RPO) grew 16% year-over-year; current remaining performance obligations (cRPO) grew 12% year-over-year

•Operating cash flow of $277 million and free cash flow of $271 million

SAN FRANCISCO – May 28, 2026 – Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced financial results for its first quarter ended April 30, 2026.

“AI agents are rapidly becoming a new workforce inside every organization, creating a wave of identities that must be secured and governed alongside human users,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “We’re expanding our opportunity as the world’s leading independent and neutral identity provider and helping customers make identity the unified control plane for their secure agentic enterprise.”

“Okta is off to a strong start to the new fiscal year, highlighted by cRPO strength, robust free cash flow, and the return of capital to shareholders,” said Brett Tighe, Chief Financial Officer of Okta. “Last year’s go-to-market specialization is driving tangible results, including continued strength with large enterprises and increased sales productivity. The success of our new product portfolio, particularly Okta Identity Governance, validates that Okta’s unified identity platform is resonating with customers.”

First Quarter Fiscal 2027 Financial Highlights:

•Revenue: Total revenue was $765 million, an increase of 11% year-over-year. Subscription revenue was $750 million, an increase of 11% year-over-year.

•RPO: RPO, or subscription backlog, was $4.719 billion, an increase of 16% year-over-year. cRPO, which represents subscription backlog expected to be recognized over the next 12 months, was $2.499 billion, up 12% compared to the first quarter of fiscal 2026.

•GAAP Operating Income: GAAP operating income was $56 million, or 7% of total revenue, compared to GAAP operating income of $39 million, or 6% of total revenue, in the first quarter of fiscal 2026.

•Non-GAAP Operating Income: Non-GAAP operating income was $191 million, or 25% of total revenue, compared to a non-GAAP operating income of $184 million, or 27% of total revenue, in the first quarter of fiscal 2026.

•GAAP Net Income: GAAP net income was $74 million, compared to GAAP net income of $62 million in the first quarter of fiscal 2026. GAAP basic and diluted net income per share were $0.42, compared to a GAAP basic and diluted net income per share of $0.36 and $0.35, respectively, in the first quarter of fiscal 2026.

•Non-GAAP Net Income: Non-GAAP net income was $168 million, compared to non-GAAP net income of $158 million in the first quarter of fiscal 2026. Non-GAAP diluted net income per share was $0.91, compared to non-GAAP diluted net income per share of $0.86 in the first quarter of fiscal 2026.

•Cash Flow: Net cash provided by operations was $277 million, or 36% of total revenue, compared to net cash provided by operations of $241 million, or 35% of total revenue, in the first quarter of fiscal 2026. Free cash flow was $271 million, or 35% of total revenue, compared to $238 million, or 35% of total revenue, in the first quarter of fiscal 2026.

•Cash, cash equivalents, and short-term investments were $2.589 billion at April 30, 2026.

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The section titled "Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures, and reconciliations between GAAP and non-GAAP information are contained in the tables below.

Financial Outlook:

For Q2 and FY27 we continue to take a prudent approach to forward guidance.

For the second quarter of fiscal 2027, the Company expects:

•Total revenue of $790 million to $794 million, representing a growth rate of 9% year-over-year;

•Current RPO of $2.505 billion to $2.515 billion, representing a growth rate of 11% year-over-year;

•Non-GAAP operating income of $204 million to $208 million, which yields a non-GAAP operating margin of 26%;

•Non-GAAP diluted net income per share of $0.95 to $0.97, assuming diluted weighted-average shares outstanding of approximately 184 million and a non-GAAP tax rate of 21%(1); and

•Non-GAAP free cash flow of $155 million to $165 million, yielding a free cash flow margin of 20% to 21%.

For the full year fiscal 2027, the Company now expects:

•Total revenue of $3.185 billion to $3.205 billion, representing a growth rate of 9% to 10% year-over-year;

◦Reflected in the revenue guidance is an approximately one percentage point impact to total revenue growth resulting from our decision to accelerate the shift of professional services business to our partners. This change is expected to create a headwind to professional services revenue.

•Non-GAAP operating income of $806 million to $826 million, which yields a non-GAAP operating margin of 25% t

okta-20260304false000166013400016601342026-03-042026-03-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported) March 4, 2026

Okta, Inc. (Exact name of registrant as specified in its charter)

Delaware001-3804426-4175727 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification Number)

100 First Street, Suite 600 San Francisco, California 94105 (Address of principal executive offices)

(888) 722-7871 (Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Class A common stock, par value $0.0001 per shareOKTAThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition On March 4, 2026, Okta, Inc. (“Okta” or the “Company”) issued a press release announcing its financial results for the fiscal quarter and year ended January 31, 2026.

A copy of the press release is attached as Exhibit 99.1.

Item 7.01 - Regulation FD Disclosures On March 4, 2026, the Company posted supplemental investor materials on its investor.okta.com website. The Company uses its investor.okta.com website and okta.com/blog websites (including the Security Blog, Okta Developer Blog and Auth0 Developer Blog) as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s investor relations and okta.com/blog websites in addition to following its press releases, SEC filings and public conference calls and webcasts.

The information furnished in the current report on Form 8-K and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

Item 9.01 - Financial Statements and Exhibits (d) Exhibits

Exhibit Number Description 99.1 Press release dated March 4, 2026, issued by Okta, Inc.

104Cover Page Interactive Data File—the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 4th day of March 2026.

Okta, Inc.

By:/s/ Brett Tighe Name:Brett Tighe Title:Chief Financial Officer (Principal Financial Officer)

okta-20251202false000166013400016601342025-12-022025-12-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported) December 2, 2025

Okta, Inc. (Exact name of registrant as specified in its charter)

Delaware001-3804426-4175727 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification Number)

100 First Street, Suite 600 San Francisco, California 94105 (Address of principal executive offices)

(888) 722-7871 (Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Class A common stock, par value $0.0001 per shareOKTAThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition On December 2, 2025, Okta, Inc. ("Okta" or the "Company") issued a press release announcing its financial results for the fiscal quarter ended October 31, 2025.

A copy of the press release is attached as Exhibit 99.1.

Item 7.01 - Regulation FD Disclosures On December 2, 2025, the Company posted supplemental investor materials on its investor.okta.com website. The Company uses its investor.okta.com website and okta.com/blog websites (including the Security Blog, Okta Developer Blog and Auth0 Developer Blog) as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s investor relations and okta.com/blog websites in addition to following its press releases, SEC filings and public conference calls and webcasts.

The information furnished in the current report on Form 8-K and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

Item 9.01 - Financial Statements and Exhibits (d) Exhibits

Exhibit Number Description 99.1 Press release dated December 2, 2025, issued by Okta, Inc.

104Cover Page Interactive Data File—the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 2nd day of December 2025.

Okta, Inc.

By:/s/ Brett Tighe Name:Brett Tighe Title:Chief Financial Officer (Principal Financial Officer)