Okta is like the **Apple ID or Google account for businesses**, providing a central digital identity that gives employees secure, single-sign-on access to all their work applications.

Okta is like **Microsoft Active Directory, but built for the modern cloud enterprise** to manage all user identities and access across every application, on-premise or in the cloud.

• Universal Directory: A cloud-based system of record for storing and securing user, application, and device profiles for an organization.
• Single Sign-On (SSO): Enables users to access applications, whether in the cloud or on-premise, from various devices with a single login.
• Adaptive Multi-Factor Authentication: Provides an additional layer of security for cloud, mobile, and web applications, as well as data.
• Lifecycle Management: Enables IT organizations or developers to manage a user's identity throughout its entire lifecycle.
• API Access Management: Allows organizations to secure their APIs, controlling access and permissions.
• Access Gateway: Extends the Okta Identity Cloud's capabilities from the cloud to an organization's existing on-premise applications.
• Advanced Server Access: Secures access to cloud infrastructure and servers.
• Auth0 Universal Login: Allows customers to provide a consistent and customized login experience across different applications and devices.
• Auth0 Attack Protection: A suite of security capabilities designed to protect applications from malicious traffic.
• Auth0 Adaptive Multi-Factor Authentication: Minimizes friction for end-users while enhancing security during the login process.
• Auth0 Passwordless Authentication: Enables users to log in without a password, supporting various modern login methods.
• Auth0 Machine to Machine (M2M): Provides standards-based authentication and authorization for secure machine interactions.
• Auth0 Private Cloud: Allows customers to run a dedicated cloud instance of Auth0 for greater control and isolation.
• Auth0 Organizations: Enables customers to create independent configurations, login experiences, and security options for different groups or tenants.
• Customer Support, Training, and Professional Services: Okta provides comprehensive support, training, and expert professional services to assist customers.

• Enterprises
• Small and medium-sized businesses (SMBs)
• Universities
• Non-profits
• Government agencies

• Amazon.com, Inc. (AMZN)

Todd McKinnon, CEO, Chairperson of the Board and Co-Founder

Todd McKinnon co-founded Okta in 2009. He is responsible for steering the company's vision and strategy, leading it to become a $25 billion public company. Before founding Okta, he held significant roles at Salesforce.com, where he was the Head of Engineering, growing the team from 15 to over 250 people. He also worked at PeopleSoft in various engineering and leadership positions for nearly a decade.

Brett Tighe, Chief Financial Officer

Brett Tighe serves as the Chief Financial Officer at Okta, overseeing the company's financial strategy and operations. He joined Okta in 2015 and played a pivotal role in its successful Initial Public Offering (IPO) in 2017. Prior to joining Okta, Brett held various senior finance and strategy positions at Salesforce.com, including Senior Director of Corporate Finance and Strategy.

Frederic Kerrest, Vice Chairman and Co-Founder

Frederic Kerrest co-founded Okta in 2009. He served as Okta's Chief Operating Officer from 2009 to November 2023, responsible for day-to-day operations and corporate priorities. Before co-founding Okta, Frederic worked in sales and business development at Salesforce.com, where he established and built the Latin America sales organization, Mobile group, and OEM/Reseller programs. He also gained experience in venture capital at Hummer Winblad Venture Partners and co-founded an award-winning high-tech consulting firm.

Jon Addison, Chief Revenue Officer

Jon Addison is Okta's Chief Revenue Officer, responsible for driving the company's revenue growth and overseeing the global sales strategy. He brings over 20 years of sales leadership and operational experience from global technology organizations. His previous roles include leadership positions at LinkedIn, Oracle, and Finastra.

Shannon Duffy, Chief Marketing Officer

Shannon Duffy was appointed as Okta's Chief Marketing Officer in October 2025. She leads the company's demand generation, product marketing, brand direction, and overall marketing strategy. Prior to joining Okta, Shannon served as CMO at Asana and held the role of Executive Vice President Cloud & Industry Marketing at Salesforce, where she guided messaging, experiences, and go-to-market strategy for flagship products.

• Security Incidents and Reputational Damage: As an identity solutions provider, Okta faces significant risk from security breaches and vulnerabilities within its platform. Past incidents, such as the LAPSUS$ breach in January 2022 and the customer support system breach in October 2023, have led to reputational damage, customer trust erosion, and financial penalties, including a $60 million settlement in a shareholder lawsuit. Such incidents directly impact customer acquisition and retention in a security-sensitive market.
• Intense Competition: Okta operates in a highly competitive identity and access management (IAM) market. It faces significant competition from major technology companies like Microsoft (with Entra ID/Azure AD), AWS (IAM/Cognito), Google Cloud Identity, Palo Alto Networks, and CyberArk. These larger competitors often have the ability to bundle IAM services into broader cloud offerings, which can exert pressure on Okta's pricing and market share. Okta also faces challenges in specific areas like identity governance and privileged access management, where its offerings are not always considered best-in-class compared to specialists.
• Integration and Expansion Challenges: The acquisition of Auth0, while strategic, introduced risks related to integration complexities, potential disruptions to business, and a substantial burden on Okta's management and internal resources. Furthermore, Okta's strategy to expand its product portfolio beyond its core IAM offerings into new areas such as Privileged Access Management (PAM) and Identity Governance and Administration (IGA) carries risks. These include the potential for slower adoption rates, customer dissatisfaction if new offerings do not achieve the same level of excellence, and the risk of diluting focus from its established core strengths.

Okta (symbol: OKTA) operates in several significant addressable markets globally, with its total addressable market (TAM) estimated to be around $80 billion. This global TAM is primarily segmented into Workforce Identity and Customer Identity solutions.

Addressable Markets for Okta's Main Products and Services:

• Overall Total Addressable Market (TAM): Okta estimates its global total addressable market at $80 billion.
• Workforce Identity (Employee Access Management): The market for Employee Access Management solutions, a core component of Okta's Workforce Identity Cloud, is estimated at $41 billion globally. This figure is adjusted for international expansion potential. Earlier estimates placed this market at $30 billion or $35 billion.
• Customer Identity (Customer Identity Management): The market for Customer Identity Management solutions, which includes Auth0 products, is estimated at $30 billion globally. Previous estimations for this market were $25 billion or $30 billion. The acquisition of Auth0 significantly expanded Okta's presence in this market.
• Identity and Access Management (IAM): The broader global Identity and Access Management market, which encompasses many of Okta's offerings, was valued at approximately $19.33 billion in 2024 and is projected to grow to around $65.30 billion by 2032. Other estimates for the global IAM market include $22.27 billion in 2025, projected to reach $77.92 billion by 2034. North America holds a significant share, with the U.S. market alone estimated at $5.95 billion in 2025, projected to reach $17.45 billion by 2034.
• Multi-Factor Authentication (MFA): The global multi-factor authentication market was estimated at $16.31 billion in 2023 and is projected to reach $41.29 billion by 2030. Another source indicates the global MFA market was valued at $16.85 billion in 2024 and is projected to reach $83.72 billion by 2034. North America is a dominant region in the MFA market.
• Single Sign-On (SSO): The global single sign-on market size was valued at $3.83 billion in 2025 and is projected to grow to $13.29 billion by 2034. Another estimate values the global SSO market at $3.34 billion in 2025, expected to reach $6.29 billion by 2030. North America is a key region for the SSO market.
• API Access Management (API Management): The global API management market was valued at $2.2 billion in 2021 and is projected to reach $41.5 billion by 2031. More recent estimates place the global API management market at $12.16 billion in 2025, with a projection to reach $169.33 billion by 2034. North America is a significant market, with the U.S. API Management market alone valued at $1.70 billion in 2025, expected to reach $11.49 billion by 2035.
• Cloud Infrastructure Security (Advanced Server Access): The broader global cloud security market, which includes securing cloud infrastructure, reached approximately $76 billion in 2023. Other estimates for the global cloud security market include $35.84 billion in 2024, projected to reach $75.26 billion by 2030. North America leads in cloud security spending, with the U.S. investing a significant portion.
• AI Agents Security: Okta anticipates that the rising adoption of AI agents presents a substantial opportunity to expand its total addressable market, having developed "Auth0 for AI Agents" to manage their security.

Expected Drivers of Future Revenue Growth for Okta (OKTA)

Over the next 2-3 years, Okta (OKTA) is expected to drive future revenue growth through several key initiatives:

1. Securing AI Agents / AI Security: Okta has identified securing artificial intelligence (AI) agents as a core growth driver, with its CEO emphasizing the critical role of identity in AI. The company has introduced capabilities for securing AI agents, encompassing authentication, token vaulting, fine-grained authorization, and governance features for non-human identities. Recently launched AI agent security products are contributing increasingly to bookings, and an early version of Auth0 for Gen AI product already has a significant waitlist.
2. Growth in Large Customers: Okta is concentrating on acquiring and expanding business with large enterprise customers. The company's focus on larger deals and increasing the number of customers spending over $100,000 annually has shown consistent growth. Okta aims to further enhance its strategy to land bigger deals and accelerate growth with these significant clients, having surpassed a major milestone of $3 billion in annual contract value.
3. Expansion of Product Portfolio and New Product Adoption: The adoption and increasing contribution of recently launched products, particularly those focused on identity governance, are key revenue drivers. Okta Identity Governance (OIG) has proven to be a successful upsell, especially for existing customers utilizing Okta Workflows. The company continues to expand its comprehensive portfolio, which includes the Auth0 product suite offerings such as Universal Login, Attack Protection, Adaptive Multi-Factor Authentication, Passwordless authentication, Machine to Machine, private Cloud, and Organizations.
4. Strategic Partnerships and Cross-sell: Okta anticipates revenue growth from strategic partnerships, such as its collaboration with AWS, which has generated over $1 billion in marketplace sales. Additionally, the company is focused on increasing cross-selling opportunities within its existing base of over 19,600 customers.
5. International Expansion and Improved Go-to-Market Strategy: Okta is strategically leveraging global system integrators for international expansion. The company's enhanced go-to-market specialization has led to improvements in key performance indicators, including sales productivity. Okta also highlights its capability to address the evolving identity and access management needs of its global customer base.

Share Repurchases

• Okta announced a $1 billion share repurchase program, effective January 5, 2026, which has no fixed expiration date and can be modified or terminated at the board's discretion. This program is intended to be funded by existing cash balances and cash flow from operations.
• As of the period ending January 31, 2026, Okta made $73 million in share buybacks.

Share Issuance

• Okta's shares outstanding increased by 2.4% year-over-year to 0.179 billion for the quarter ending January 31, 2026.
• Shares outstanding increased by 7% from 0.164 billion in 2024 to 0.175 billion in 2025.
• In 2024, shares outstanding increased by 3.55% from 0.158 billion in 2023 to 0.164 billion.

Outbound Investments

• In March 2021, Okta acquired Auth0 for $6.5 billion, a move that significantly expanded its capabilities in customer identity and access management (CIAM).
• Okta acquired Axiom Security for an estimated $100 million in August 2025, enhancing its Privileged Access Management (PAM) solution.
• Other acquisitions include Spera Cybersecurity, Ltd. for $100 million in December 2023 and WithUno, Inc. in October 2023 (undisclosed amount).

Capital Expenditures

• Okta's capital expenditures were $8 million for fiscal year 2025 (ended January), $8 million for fiscal year 2024, and $12 million for fiscal year 2023.
• Projected capital expenditures are $9 million for fiscal year 2026, increasing to $11.27 million for fiscal year 2027.
• The company's capital allocation includes investments in hardening existing products and innovating with new security features.