Okta Q1 revenue beats on enterprise demand

Okta

28/05/2026 21:14

Overview
US identity management firm's fiscal Q1 revenue grew 11% yr/yr, beating analyst expectations
Non-GAAP diluted EPS rose to $0.91 from $0.86 a year ago
Company cites enterprise demand and new product portfolio for growth

Outlook
Okta sees Q2 revenue of $790 mln to $794 mln, up 9% year-over-year
Company expects FY27 revenue of $3.185 bln to $3.205 bln, up 9%-10% year-over-year
Okta says FY27 revenue guidance includes a 1 percentage point headwind from shifting services to partners

Result Drivers
ENTERPRISE DEMAND - Co said strength with large enterprises and improved sales productivity drove Q1 results
PRODUCT PORTFOLIO - Success of new products, particularly Okta Identity Governance, contributed to growth
RPO GROWTH - Higher remaining performance obligations and current RPO supported revenue visibility

Company press release: ID:nBw65Hr2va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$765 mln
$751.88 mln (40 Analysts)
Q1 EPS
 
$0.42
 
Q1 Net Income
 
$74 mln
 
Q1 Subscription Revenue
 
$750 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 35 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Okta Inc is $100.00, about 11.7% above its May 27 closing price of $89.50
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)