OKTA Okta, Inc.
Price Chart
Executive Summary
Okta reported Q1 FY27 revenue of $765M (+11% YoY) and non-GAAP EPS of $0.91, beating consensus of $0.85 (+5.9%). Total RPO grew 16% YoY to $4.719B and cRPO grew 12% to $2.499B. FY27 revenue guidance was raised modestly to $3.185-3.205B (from prior $3.170-3.190B), and non-GAAP EPS guidance was raised to $3.79-3.87 (from $3.74-3.82). Operating cash flow was $277M (36% margin) and FCF was $271M (35% margin). The beat is modest and the growth trajectory remains steady at 11% — the key positive is cRPO strength and the raised guidance, but the guidance range implies deceleration to ~9% growth in Q2.
Key Financial Metrics
Actionable Insight
The beat is solid but the key driver is the raised guidance and cRPO momentum. However, Q2 revenue guidance of 9% YoY implies deceleration from Q1's 11% — watch the earnings call for signs of demand softening or FX headwinds. The $248M share repurchase is capital return positive but not a fundamental growth driver. The stock likely trades positively on the beat and raised guide, but the deceleration narrative caps upside.
Key Facts
- Q1 FY27 total revenue $765M (+11% YoY), subscription revenue $750M (+11% YoY)
- Non-GAAP diluted EPS $0.91 vs consensus $0.85 (+5.9% beat)
- Total RPO $4.719B (+16% YoY), cRPO $2.499B (+12% YoY)
- GAAP operating income $56M (7% margin) vs $39M (6% margin) last year
- Non-GAAP operating income $191M (25% margin) vs $184M (27% margin) last year
- Operating cash flow $277M (36% margin), FCF $271M (35% margin)
- FY27 revenue guidance raised to $3.185-3.205B (9-10% YoY) from prior $3.170-3.190B
- Non-GAAP EPS guidance raised to $3.79-3.87 from prior $3.74-3.82
- Q2 FY27 revenue guidance $790-794M (9% YoY), below Q1's 11% growth rate
- Stock repurchases of $248M during Q1
Financial Impact
Modest beat on both revenue and EPS; raised full-year guidance by ~$15M revenue and ~$0.05 EPS; Q2 guidance suggests deceleration to 9% growth
Risk Factors
- Revenue growth deceleration from 11% in Q1 to guided 9% in Q2
- Non-GAAP operating margin declined from 27% to 25% YoY despite higher revenue
- Sales & marketing expense grew 17% YoY, outpacing revenue growth of 11%
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001660134-26-000050 |
| Document: okta-20260528.htm | 0001660134-26-000050 |
| Document: 0001660134-26-000050-index-headers.html | 0001660134-26-000050 |
| Document: 0001660134-26-000050-index.html | 0001660134-26-000050 |
| Document: 0001660134-26-000050.txt | 0001660134-26-000050 |
| 8-K Data (Synthetic) | 0001660134-26-000050 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 28, 2026
17d ago
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8-K
| $123.27 $118.34 | ▼ −4.00% | ▼ −1.47% | $116.29 (−5.66%) |
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May 7, 2026
5w ago
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DEFA14A
| $83.85 $81.05 | ▼ −3.34% | ▼ −4.81% | $116.29 (+38.68%) |
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Mar 23, 2026
11w ago
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8-K
| $80.69 $75.43 | ▼ −6.52% | ▼ −2.96% | $116.29 (+44.11%) |
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Mar 19, 2026
12w ago
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Insider Cluster
| $80.71 $79.34 | ▼ −1.70% | ▲ +0.51% | $116.29 (+44.08%) |
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Mar 19, 2026
12w ago
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Insider Cluster
| $80.71 $79.34 | ▲ +1.70% | ▼ −0.51% | $116.29 (−44.08%) |
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Mar 11, 2026
13w ago
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8-K
| $78.63 $80.71 | ▲ +2.65% | ▲ +3.62% | $116.29 (+47.89%) |
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Mar 4, 2026
14w ago
|
8-K
| $79.30 $78.63 | ▼ −0.84% | ▲ +1.39% | $116.29 (+46.64%) |
US Market Status
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