The earnings call highlighted strong performance in profitability, cash flow, and new product growth, alongside successful large customer engagements and public sector strength. However, concerns about macroeconomic factors and their impact on future growth, along with sequential declines in cRPO and NRR, indicate a cautious outlook.

Company Guidance -

Q2 2026

In the recent earnings call, Okta's management provided guidance for the second quarter and the full fiscal year 2026, reflecting a cautious approach due to potential macroeconomic uncertainties. For Q2, Okta anticipates total revenue growth of 10%, current remaining performance obligation (RPO) growth of 10% to 11%, a non-GAAP operating margin of 26%, and a free cash flow margin of approximately 19%. For the full fiscal year, they project total revenue growth between 9% and 10%, with a non-GAAP operating margin of 25% and a free cash flow margin of around 27%. Despite strong Q1 results, including exceptional cash flow and record profitability, the company is factoring in economic risks and the effects of their go-to-market team specialization into their guidance. This specialization is expected to yield long-term benefits, evident from the strong performance in specific segments such as Auth0 and the U.S. public sector.

Strong Cash Flow and Record Profitability

Okta posted solid Q1 results with exceptional cash flow and record operating profitability and profit margin.

New Product Growth

New products such as Okta Identity Governance, Okta Privileged Access, and Identity Threat Protection with Okta AI showed strong contribution, with Workflow executions increasing nearly 400% over the past three years.

Large Customer Success

The number of customers with $1 million ARR and higher grew by 20%, indicating continued strength with large customers.

Successful Go-To-Market Specialization

The newly specialized sales teams showed early positive signals, with the Auth0 platform performing well following a record Q4.

Public Sector Strength

The U.S. public sector vertical showed strong performance with significant deals, including two of the top three deals in Q1.

Okta (OKTA) Earnings, Revenues Date & History

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OKTA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 26, 2025	2026 (Q2)	0.84 / -	0.72	―	―	―
May 28, 2025	2026 (Q1)	0.77 / 0.86	0.65	32.31% (+0.21)
Mar 03, 2025	2025 (Q4)	0.74 / 0.78	0.63	23.81% (+0.15)
Dec 03, 2024	2025 (Q3)	0.58 / 0.67	0.44	52.27% (+0.23)
Aug 28, 2024	2025 (Q2)	0.61 / 0.72	0.31	132.26% (+0.41)
May 29, 2024	2025 (Q1)	0.54 / 0.65	0.22	195.45% (+0.43)
Feb 28, 2024	2024 (Q4)	0.51 / 0.63	0.3	110.00% (+0.33)
Nov 29, 2023	2024 (Q3)	0.29 / 0.44	0	―
Aug 30, 2023	2024 (Q2)	0.22 / 0.31	-0.1	410.00% (+0.41)
May 31, 2023	2024 (Q1)	0.12 / 0.22	-0.27	181.48% (+0.49)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

OKTA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 28, 2025	$105.22	$106.63	+1.34%
Mar 03, 2025	$87.16	$108.31	+24.27%
Dec 03, 2024	$81.71	$86.11	+5.38%
Aug 28, 2024	$96.54	$79.51	-17.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.