• Like **Salesforce** for managing who has access to all your company's software.
• Like **PayPal** for securely logging into all your company's digital applications.
• The modern, cloud-based equivalent of **Microsoft Active Directory**.

• Okta Workforce Identity Cloud: This identity and access management service secures employee and partner access to internal applications and resources.
• Okta Customer Identity Cloud (including Auth0): This identity and access management service enables organizations to build secure and seamless login experiences for their customers accessing external applications.

• T-Mobile (NYSE: TMUS)
• Adobe (NASDAQ: ADBE)
• JetBlue Airways (NASDAQ: JBLU)
• Workday (NASDAQ: WDAY)
• Engie (EPA: ENGI)

• Amazon.com, Inc. (AMZN)
• Microsoft Corporation (MSFT)
• Alphabet Inc. (GOOGL)

Todd McKinnon, Chief Executive Officer, Chairperson of the Board and Co-Founder

Todd McKinnon co-founded Okta in 2008 and has served as its Chief Executive Officer since January 2009. Before founding Okta, he led engineering at Salesforce.com from 2003 to 2009, where he grew the team from 15 people to over 250. He began his career at PeopleSoft, holding various engineering and leadership roles for eight years. McKinnon joined the Forbes billionaires list in late August 2020.

Brett Tighe, Chief Financial Officer

Brett Tighe serves as the Chief Financial Officer at Okta, a position he officially assumed in January 2022, after serving as interim CFO since June 2021. He joined Okta in 2015 and played a crucial role in scaling the company's financial operations, including its successful 2017 IPO. Prior to Okta, he spent nearly a decade at Salesforce in various senior finance roles, including Senior Director of Corporate Finance and Strategy. Tighe started his career at Deloitte & Touche.

Frederic Kerrest, Executive Vice Chairperson of the Board, Co-Founder, and Chief Operating Officer

Frederic Kerrest is a co-founder of Okta, alongside Todd McKinnon, and serves as the Executive Vice Chairperson of the Board and Chief Operating Officer.

Eric Kelleher, President and Chief Operating Officer

Eric Kelleher is the President and Chief Operating Officer at Okta. He has held significant leadership roles at companies such as Salesforce, LinkedIn, and mParticle, contributing extensive expertise in customer success and global services.

David Bradbury, Chief Security Officer

David Bradbury holds the position of Chief Security Officer at Okta.

The key risks to Okta's business include:

1. Cybersecurity Incidents and Reputational Damage: Okta faces a significant and persistent risk related to cybersecurity breaches and the ensuing damage to its reputation. Past security incidents have impacted new customer acquisition and the willingness of smaller businesses to commit long-term to the platform. The company's reputation, particularly in the identity space, is considered integral to its product, and any loss of trust can be devastating. Okta has acknowledged past mistakes in handling incidents and has committed to improving internal defenses and identity-based security.
2. Intense Competition and Decelerating Revenue Growth: Okta operates in a highly competitive market, facing significant threats from larger, well-established companies, notably Microsoft, which can bundle security solutions. The company has experienced a deceleration in its revenue growth rate, with fiscal year 2025 seeing 15.33% growth compared to 21.8% in fiscal year 2024. Maintaining momentum and strong subscription revenue growth against increasing competition is a key challenge.
3. Financial Performance and Maintaining Consistent Profitability: While Okta achieved GAAP net income in fiscal year 2025, it has a history of net losses in prior fiscal years (e.g., $355 million in fiscal 2024 and $815 million in fiscal 2023). The company needs to generate and sustain increased revenue levels to become consistently profitable and may incur future losses due to various factors, including increased operating expenses and competition. Market sentiment has shifted, demanding sustainable margins and predictable cash flows rather than just high growth, which puts pressure on Okta's financial performance.

The increasing strategic focus and aggressive integration by major cloud providers (e.g., Microsoft with Entra ID, Google Cloud Identity, AWS IAM Identity Center) to position their native identity and access management (IAM) offerings as the default and deeply integrated solution within their vast cloud ecosystems. This trend leverages their control over core infrastructure and software suites to offer bundled or highly symbiotic identity services, posing a growing threat to Okta's market position as an independent, best-of-breed identity provider.

Okta's total addressable market (TAM) for its main products and services is estimated to be $80 billion globally.

This market is primarily segmented into:

• Workforce Identity (Employee Access Management) solutions: $41 billion.
• Customer Identity (Customer Identity Management) solutions: $30 billion.

The remaining portion of the $80 billion TAM is attributed to newer segments such as Identity Governance and Administration and Privileged Access Management, which Okta entered following its acquisition of Auth0.

Okta's management indicates that these market estimates reflect global SaaS spending on its products.

Okta (NASDAQ: OKTA) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market opportunities:

1. Growth in Large Enterprise and Public Sector Customer Acquisition: Okta is increasingly focusing on securing larger, more lucrative contracts with large enterprise customers, evidenced by the growth in their Annual Contract Value (ACV) from these segments. The public sector also represents a significant growth area, with Okta reporting strong performance and securing major deals in this vertical.
2. Expansion of New and Recently Launched Products, particularly AI-driven Security Solutions: Okta has a robust product roadmap with a strong emphasis on new offerings. Key new products include Okta Identity Governance (OIG), Privileged Access Management (PAM), Device Access, Identity Security Posture Management (ISPM), and Identity Threat Protection (ITP) with Okta AI. The company is actively positioning itself in AI-driven security solutions, including "Auth for GenAI" for secure AI agent development and managing non-human identities, which is anticipated to be a significant growth driver.
3. Leveraging Go-to-Market (GTM) Specialization and a Partner-First Ecosystem: Okta is implementing a go-to-market specialization strategy, which includes restructuring its sales team to focus on new customer acquisition and upsells within the existing customer base. The company has also adopted a multi-year, partner-first growth strategy, with over 70% of deals in Q4 FY25 being partner-influenced. Strategic partnerships with major cloud service providers like AWS and Microsoft are also crucial for expanding market reach.
4. Upselling and Cross-selling within the Existing Customer Base: Okta's dollar-based net retention rate, while showing some fluctuations, has historically been driven by upsell and cross-sell activities. The introduction of new products like Identity Governance and Privileged Access Management provides ample opportunities to expand offerings to existing Workforce Identity and Customer Identity customers. The specialized sales teams are also geared towards nurturing existing customer relationships and selling add-on products.
5. Capitalizing on the Broader Customer Identity and Access Management (CIAM) Market Growth: Okta's Customer Identity Cloud solutions are designed to enhance customer acquisition, conversion, and retention by providing seamless, secure, and frictionless authentication experiences. As digital businesses increasingly prioritize smooth customer journeys, the demand for robust CIAM solutions is expected to grow, which Okta is well-positioned to address.

Share Repurchases

• Okta repurchased $150 million principal amount of its convertible senior notes due in 2026 during the fourth quarter of fiscal year 2024 (ending January 31, 2024).
• In July 2021, Okta completed a partial repurchase of its 2023 Notes, allocating approximately $198.7 million to the equity component of the transaction.
• Quarterly stock buybacks for July 31, 2025, were reported at -$26.00 million, indicating shares purchased by the company.

Share Issuance

• The number of Okta's Class A common stock outstanding significantly increased from 122,824 shares as of January 31, 2021, to 147,446 shares as of July 31, 2021, a period encompassing the Auth0 acquisition.
• As of August 22, 2025, the number of Class A common stock outstanding reached 168,459,019 shares, reflecting ongoing share issuances.
• Okta regularly issues shares related to employee stock purchase plans and stock option exercises, with recent quarters showing proceeds of $23-24 million and $9-10 million, respectively.

Outbound Investments

• Okta completed a significant strategic acquisition of Auth0 in May 2021 to enhance its customer identity cloud offerings.
• Okta Ventures has made strategic investments in early-stage companies, including Accredify in March 2024 and Atomicwork in September 2025, focusing on modern identity, privacy, and security.
• The company's M&A strategy includes small acquisitions aimed at accelerating its product roadmap, with a recent acquisition in the privileged access space mentioned in September 2025.

Capital Expenditures

• Okta's capital expenditures have been relatively low, with a reported -$4.37 million in the last 12 months according to one source.
• Projected capital expenditures are expected to increase from $38 million for fiscal year 2026 to $84 million by fiscal year 2030, generally accounting for 1% of revenue.
• The primary focus of capital allocation includes investing in strengthening existing products, innovating with new security features, and expanding its AI strategy to develop an "identity security fabric."