Okta Reports Q1

Okta (NASDAQ: OKTA ) held its first-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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View the webcast at Summary Okta Inc reported strong Q1 FY27 results, driven by large enterprises, partner engagement, and new products, with Okta and Auth0 platforms contributing to steady momentum.

The company's AI strategy is a major focus, emphasizing the management and governance of AI agents as identities, leveraging distribution, product breadth, and neutrality as competitive advantages.

Financially, Okta ended Q1 with $2.6 billion in cash and short-term investments, repurchased shares, and expects FY27 revenue growth of 9% to 10% and non-GAAP operating margin of 25% to 26%.

Strategic partnerships with major tech companies like ServiceNow, Google, and Amazon were highlighted as Okta integrates its AI identity management solutions.

Management is optimistic about the future, with strong pipeline growth for AI products, though these have not yet materially contributed to financials, and a focus on disciplined cost structure and long-term growth.

Full Transcript Dave Giamarelli, Senior Vice President of Investor Relations at Okta Hi everyone.

Welcome to Okta's first quarter of fiscal 2027 earnings webcast.

I'm Dave Giamarelli, Senior Vice President of Investor Relations at Okta.

Presenting in today's meeting will be Todd McKinnon, our Chief Executive Officer and Co-Founder, and Brett Tye, our Chief Financial Officer.

Eric Kelleher, our President and Chief Operating Officer, will join the Q and A portion of the meeting.

At around the same time the earnings press release hit the wire, we posted supplemental commentary to our IR website.

Today's meeting will include forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding our financial outlook and market positioning.

Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements.

Forward-looking statements represent our management's beliefs and assumptions only as of the date made.

Information on factors that could affect our financial results is included in our filings with the SEC from time to time, including the section titled Risk Factors in our previously filed Form 10-K.

In addition, during today's meeting, we'll discuss non-GAAP financial measures.

Though we may not state it explicitly during the meeting, all references to profitability are non-GAAP.

These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP.

A reconciliation between GAAP and non-GAAP financial measures and a discussion of the limitations of using non-GAAP measures versus their closest GAAP equivalents are available in our earnings release.

You may also find detailed information in our Supplemental Financial Materials, which include trended financial statements and key metrics posted on our investor relations website.

In today's meeting, we will quote a number of numeric or growth changes as we discuss our financial performance, and unless otherwise noted, each such reference represents a year-over-year comparison.

And now I'd like to turn the meeting over to Todd McKinnon.

Todd McKinnon, Chief Executive Officer and Co-Founder Thanks, Dave, and thank you everyone for joining us this afternoon.

We're pleased with the strong start to FY27.

Consistent with recent quarters, our results were driven by strength with large enterprises, partner engagement, and contribution from our newer products.

Underpinning this performance is the durability of our core business, with the Okta and Auth0 platforms both contributing to steady momentum across our entire portfolio.

That said, the number one topic of interest from customers to investors is Okta's AI strategy.

So today I'll focus my remarks on how Okta is uniquely positioned to capture the AI opportunity.

The future of technology is agentic.

For Okta, this represents a tremendous opportunity and an even greater responsibility.

Every AI agent inside an enterprise is a new identity.

Today, AI agents are the fastest-growing identity in the enterprise, but also the least governed.