A new fiscal year has continued to validate that organizations want providers that can innovate to help them meet the challenges of securing identities.
Okta's Q1 results for FY26 show solid top- and bottom-line growth, driven in part by strong customer response to new products, deals with large customers, and the performance of Auth0.
A high-level view of the numbers:
Q1 revenue grew 12% to $688 million.
The company recorded record GAAP operating income of $39 million, record non-GAAP operating income of $184 million, and strong free cash flow of $238 million.
$1 million-plus annual contract value (ACV) customers grew 20% and continues to be our fastest-growing cohort.
"Okta had a solid start to FY26 highlighted by record operating profit and another quarter of robust free cash flow," said Todd McKinnon, Chief Executive Officer and co-founder of Okta. "The world's biggest organizations continue to turn to Okta to solve identity security across their workforces, customers, and AI use cases."
Among the customer wins was a European telecom that purchased Okta Workforce Identity and Auth0. The company turned to Okta with the goal of unifying its identity systems. Previously, the company's fragmented approach to identity management across different departments led to a high volume of support tickets and password issues. With Auth0 and Okta Workforce Identity, the company's 20,000+ employees and contractors traded those challenges in for a seamless and secure login experience.
Other success stories include a Global 2000 energy company that adopted Auth0 this quarter and will standardize on Auth0 across its application landscape. The customer will deploy Auth0 and leverage its flexibility, extensibility, and vendor neutrality to integrate with the rest of the customer's technology stack.
In the public sector, a US government entity turned to Okta to address challenges in lifecycle management. The customer purchased several of Okta's FedRAMP-compliant solutions, including Lifecycle Management, Single Sign-On, Multi-Factor Authentication, and Workflows.
Another bright spot was Okta Identity Governance (OIG). A Global 2000 insurance company and existing customer expanded its investment in Okta with OIG. The company decided to phase out an on-prem incumbent in favor of OIG for its ease of implementation and ability to standardize all governance use cases on a single platform, automate workflows within Okta and other apps, and manage access requests.
As the year rolls on, Okta will continue to push innovation to drive growth and deliver a unified identity security platform to its customers.
Please visit the Okta Investor Relations website to see the full Q1FY26 financial results.
