Okta Q3 earnings report 2026
okta It rose to the top of Wall Street on Tuesday third quarter He made predictions and issued an optimistic outlook as customers adopted identity management solutions.
Shares of the identity management provider fell more than 3% in after-hours trading Tuesday.
The company’s performance according to LSEG forecasts is as follows:
- earnings per share: 82 cents corrected, 76 cents expected
- Revenues: $742 million, expected $730 million
Revenues rose nearly 12% from $665 million in the same period a year ago. Net income nearly tripled to $43 million, from $16 million the previous year. Subscription revenues rose 11% to $724 million, above estimates of $715 million.
During the quarter, Okta launched a feature that allows businesses to: Create AI agents and automate tasks.
CEO Todd McKinnon told CNBC that the positive effects of AI agents are not fully reflected in results and could exceed Okta’s core total addressable market in the next five years.
“It’s not in the results yet, but we’re investing and taking advantage of this opportunity like it’s going to be a big part of the future,” he said in an interview Tuesday.
The cybersecurity company expects revenue of $748 million to $750 million and adjusted earnings of 84 to 85 cents per share for the current quarter. Analysts are forecasting revenue of $738 million and earnings per share of 84 cents for the fourth quarter.
Returning performance obligations, or the company’s subscription backlog, rose 17% from a year ago to $4.29 billion, beating StreetAccount’s estimate of $4.17 billion.
This year has been a blockbuster for cybersecurity companies with major acquisition deals. Palo Alto Networks And Google and a number of new IPOs from the industry.
Okta shares have gained about 4% this year.
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