Okta (OKTA) Q4 2026 earnings summary

Executive summary

• Q4 FY26 revenue grew 11% year-over-year to $761 million, with subscription revenue also up 11% to $747 million and representing 98% of total revenue.

• Full-year FY26 revenue increased 12% to $2.919 billion, with subscription revenue at $2.855 billion.

• Achieved strong enterprise wins, partner engagement, and new product contributions, especially in AI and identity security.

• International revenue increased 10% and now accounts for 20% of total revenue.

• Recognized as a Leader in the 2025 Gartner Magic Quadrant for Access Management for the ninth consecutive year.

Financial highlights

• Q4 FY26 total revenue: $761 million (+11% YoY); subscription revenue: $747 million (+11% YoY).

• Q4 non-GAAP operating margin was 26%, up from 25% last year; Q4 free cash flow was $252 million (33% margin).

• FY26 revenue increased 12% to $2.919 billion; non-GAAP operating margin rose from 22% to 26%; free cash flow margin increased from 28% to 30%.

• Remaining Performance Obligations (RPO) grew 15% to $4.827 billion; current RPO up 12% to $2.513 billion.

• Cash, cash equivalents, and short-term investments totaled $2.553 billion at year-end.

Outlook and guidance

• FY27 revenue guidance: $3.170–$3.190 billion, up 9% year-over-year; non-GAAP operating margin: 25%-26%; free cash flow margin: 27%-28%.

• Q1 FY27 revenue expected between $749–$753 million, up 9% year-over-year; non-GAAP operating margin: 23%-24%; free cash flow margin: 33%-35%.

• Guidance reflects a 1-point revenue impact from shifting more professional services to partners and a 1-point FCF margin headwind from lower interest income.

• Non-GAAP tax rate reduced to 21% from 26% due to new legislation, effective FY27.