Okta topped estimates for the first fiscal quarter of 2026, but maintained its guidance due to an uncertain macro backdrop. The identity management software company said it’s taking a “prudent approach” to its outlook. CEO Todd McKinnon said in an interview with CNBC that some discussions with customers have turned “more cautious.” Todd McKinnon, CEO and co-founder of Okta, speaks during the BoxWorks 2019 Conference in San Francisco, California, on Oct. 3, 2019. Michael Short | Bloomberg | Getty Images
Okta reported better-than-expected earnings and revenue on Tuesday but maintained its guidance as the identity management software vendor grapples with an uncertain economic backdrop. The stock plunged 11% in extended trading.
Here’s how the company did compared to LSEG estimates:
EPS: 86 cents adjusted vs. 77 cents expected Revenue: $688 million vs. $680 million expected
Revenue in the fiscal first quarter rose 12% from $617 million a year ago. Subscription revenue increased by the same amount to $673 million.
Okta reported net income of $62 million, or 35 cents per share, swinging from a