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All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
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Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Filed after the FY2026 Q3 call day (Dec 2, 2025) through the next call day (Mar 4, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q3
Macro signals
↑AI & Tech→Enterprise Spending→Labor Market
Okta grew total revenue 11.58% to $742 million in fiscal Q3 2026, and GAAP diluted EPS rose to $0.24 from $0.00 as GAAP operating income reached $23 million against an operating loss of $16 million a year earlier. Management credited strength with large customers and upsells of new products such as Okta Identity Governance, and said it is already engaged with over 100 current customers, representing over $200 million in existing ARR, on securing AI agents. Okta raised its FY 2026 outlook to total revenue growth of 11%, a non-GAAP operating margin of 26% and a free cash flow margin of approximately 29%, after a current RPO beat the CFO put down to the sales team outperforming. It skipped its usual early look at fiscal 2027, and its Q4 outlook calls for total revenue growth of 10% and current RPO growth of 9%, a slowdown analysts probed alongside the pace of sales hiring and net retention near 106.
Key themes
7
positive📊 company
Large Customers And New Products Drive Q3 Upsell
Okta saw strength with large customers and workforce upsells, particularly Okta Identity Governance, and the cohort of million-dollar deals grew 17%. A Fortune 50 customer is replacing Ping Identity, SailPoint, CyberArk and several other identity vendors to standardize its 5,500 applications on Okta.
Subscriber GrowthCompetitive Dynamics
positive📊 company
Securing AI Agents Emerges As A New Growth Catalyst
Okta launched Auth0 for AI agents and Okta for AI agents and is already engaged with over 100 current customers representing over $200 million in existing ARR. McKinnon said securing AI could become a bigger market than both the $50 billion workforce identity and $30 billion customer identity TAMs.
Cloud & AIProduct Launch
positive📊 company
FY26 Outlook Raised After A Current RPO Beat
Okta now expects FY 2026 total revenue growth of 11%, a non-GAAP operating margin of 26% and a free cash flow margin of approximately 29%. The CFO said current RPO beat because the sales team outperformed, and the Q4 guide no longer carries specific risk line items beyond market conditions.
Guidance ReliabilityRevenue Growth
negative📊 company
Q4 Guide And FY27 Math Point To Slower Growth
Okta skipped its usual early look at FY27, saying a guide five quarters out would carry too much conservatism, and its Q4 outlook calls for total revenue growth of 10% and current RPO growth of 9%. Brad Zelnick's reading of the CFO's coverage-ratio formula came to about nine and a half percent revenue growth next year.
Guidance ReliabilityRevenue Growth
positive📊 company
Sales Specialization Lifts Productivity As Reps Are Added
Sales productivity rose quarter over quarter and year over year, with AE attrition near a multi-year low and tenure near a multi-year high. Okta added quota-carrying capacity in Q2 and Q3, plans more in FY '27, and is growing sales and marketing expense year over year for the first time in a while.
DemandLabor Market
mixed📊 company
Net Retention Holds Near 106 As Seat Risk Is Watched
Net retention has sat at the 106 level, and the CFO expects it to track in that range for Q4 on healthy gross retention. Management said it is not yet feeling a material headwind from customer seat reductions as companies lean on AI, and counts on customer and agentic identity to offset any.
Subscriber GrowthRevenue Growth
mixed🏢 sector
Platform Vendors Push Into Identity Security
Gabriela Borges of Goldman Sachs pointed to ServiceNow's announced plan to buy an identity vendor. McKinnon said every platform company will try to extend its own identity, but customers wary of lock-in to the Microsoft or Google stack want a neutral provider that covers all their integrations.
CompanyFiscal year ends JanMost recent earnings call: Aug 26, 2026 (FY2027 Q2, not yet analyzed)Est. next earnings call: Dec 1, 2026
9/ 10
FY2026 Q3Positive±0.0 vs FY2026 Q2
Calendar quarter Q4 2025Earnings call Dec 2, 2025
FY2026 Q3 in brief
Okta grew total revenue 11.58% to $742 million in fiscal Q3 2026, and GAAP diluted EPS rose to $0.24 from $0.00 as GAAP operating income reached $23 million against an operating loss of $16 million a year earlier.
PositiveLarge Customers And New Products Drive Q3 Upsell
PositiveSecuring AI Agents Emerges As A New Growth Catalyst
PositiveFY26 Outlook Raised After A Current RPO Beat
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
10%company-level, not the selected quarter
GAAP revenue YoY +11.6% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base7Base 7GAAP revenue YoY +11.6% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no distortion: no material acquisition or divestiture (the release shows $56M of business-acquisition payments year to date and $1M of acquisition and integration-related expenses this quarter; the Axiom Security deal was called immaterial to all guidance metrics in the Q2 release) and no management-stated adjusted or organic revenue figure. Total revenue +11.58% YoY (company_financials, source apininjas: $742M vs $665M; matches the Q3 FY2026 8-K EX-99.1, accession 0001660134-25-000170, no 8-K/A filed) lands in the 8-14% band -> base 7.
Sources.Tellvest earnings-call sentiment score for Okta, Inc. (OKTA), FY2026 Q3: 9/10. Scores: Okta, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: OKTA daily prices (open, high, low, close) with a 50-day moving average; lines mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Key financials
FY2026 Q3 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Op margin
Net margin
FCF
FY2025 Q3
$665M
+13.9%
$0.00
n/m
-2.4%
2.4%
$158M
FY2025 Q4
$682M
+12.7%
$0.13
—
1.2%
3.4%
$285M
FY2026 Q1
$688M
+11.5%
$0.35
n/m
5.7%
9.0%
$240M
FY2026 Q2
$728M
+12.7%
$0.37
+146.7%
5.6%
9.2%
$165M
FY2026 Q3Selected
$742M
+11.6%
$0.24
n/m
3.1%
5.8%
$214M
FY2026 Q4
$761M
+11.6%
—
—
6.0%
8.3%
$256M
FY2027 Q1
$765M
+11.2%
$0.42
+20.0%
7.3%
9.7%
$276M
FY2027 Q2
$805M
+10.6%
$0.65
+75.7%
13.3%
14.4%
$233M
FY2025 Q3: Prior-year quarter was a loss (-$0.49 EPS), so a percent change isn't meaningful.
FY2026 Q1: Prior-year quarter was a loss (-$0.24 EPS), so a percent change isn't meaningful.
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“GAAP diluted EPS $0.24 vs $0.00 a year earlier (basic $0.09 a year earlier; the prior-year diluted figure removes the $16 million gain on early extinguishment of debt under the if-converted method); GAAP operating income $23 million vs an operating loss of $16 million; GAAP net income $43 million vs $16 million (GAAP basis, earnings release EX-99.1, accession 0001660134-25-000170)”
Revenue
“Total revenue $742 million, +11.58% year over year vs $665 million a year earlier (GAAP basis, company_financials; Q3 FY2026 earnings release EX-99.1, accession 0001660134-25-000170; the quarter's results were posted as supplemental commentary, not restated on the call)”
Guidance
“For the full year FY '26, we are raising our outlook and now expect total revenue growth of 11%, non-GAAP operating margin of 26%, and a free cash flow margin of approximately 29%.”
Key metric
“You saw the cohort of million-dollar deals this past Q3 grew 17%.”
Mentions
Calendar Q4 2025
Mentions of other companies on OKTA's FY2026 Q3 call, and mentions of OKTA on other companies' calls covering the same calendar quarter (Q4 2025). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
Companies OKTA discussed
11 mentions
CyberArkNot covered by TellvestFY2026 Q3ManagementCompetitor
“We're working with one of the largest Fortune 50 customers of ours on a wholesale replacement of Ping Identity, SailPoint, CyberArk, and several other identity vendors across our whole stack to standardize on Okta products.”
Okta's CEO said a Fortune 50 customer is replacing CyberArk with Okta as it standardizes its identity stack, which points to CyberArk losing that workload.
SailPointNot covered by TellvestFY2026 Q3ManagementCompetitor
“We're working with one of the largest Fortune 50 customers of ours on a wholesale replacement of Ping Identity, SailPoint, CyberArk, and several other identity vendors across our whole stack to standardize on Okta products.”
+
EPS+1EPS +1EPS sign change: GAAP diluted EPS moved from $0.00 to $0.24 (release EX-99.1; the prior-year diluted figure is $0.00 because the $16M gain on early extinguishment of convertible notes is removed under the if-converted method, basic EPS $0.09). company_financials.EPS YoY is null (division by a zero base), so scoring.EPS YoY is null, and under the runbook sign-change rule the operating read is the sole input. Operating income crossed zero: GAAP operating loss of $16M a year earlier to operating income of $23M, so the printed operating income YoY +243.75% is off a negative base and the direction of the crossing is the operating read (runbook 'Operating income crossing zero', 2026-10-23): loss to profit -> +1. Contamination check against the release reconciliation (closed list): acquired-intangible amortization $16M vs $18M and acquisition and integration-related expenses $1M vs $0, with no restructuring, impairment or legal-settlement line in either quarter; ex-charge OI is $40M vs $2M, a rise far above revenue growth of 11.58%, so the read is unchanged -> +1. Stock-based compensation ($138M vs $135M) and non-cash charitable contributions ($0 vs $1M) stay in. Serial-acquirer trigger not met (amortization about 2.2 percent of revenue). eps_override_used true because the OI crossing replaced the GAAP EPS spread.
+
Guidance+1Guidance +1Revision of existing FY2026 guidance (decision gate: NO, this is a revision of the FY26 guide set on the FY2025-Q4 call and last revised on the FY2026-Q2 call). Primary pair = revenue/EPS, both raised in the same direction, so the larger move governs. EPS: prior non-GAAP diluted EPS $3.33-$3.38 (Q2 FY2026 release EX-99.1, accession 0001660134-25-000156) -> $3.43-$3.44 (Q3 FY2026 release EX-99.1, accession 0001660134-25-000170), midpoint (3.435 - 3.355) / 3.355 = +2.38%, a raise under 3% -> +1. Revenue: $2.875-$2.885B -> $2.906-$2.908B, midpoint $2.880B -> $2.907B, +0.94% (+1 on its own), so EPS governs. Both endpoints of both ranges moved up, so the midpoint is the test. Guided non-GAAP operating income also rose, $730-$740M -> $753-$755M, and the diluted share assumption is unchanged at approximately 185 million, so the raise is operating; path (c) does not apply because revenue moved too. The CFO on the call: raising our outlook, now total revenue growth of 11%. Management deferred FY27 guidance to the Q4 call; no FY27 range had ever been given, so nothing was withdrawn, and the Q4 quarterly guide (total revenue $748-$750M, current RPO $2.445-$2.450B) is context only.
=
Final9
How this score was built
Base7Base 7GAAP revenue YoY +11.6% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no distortion: no material acquisition or divestiture (the release shows $56M of business-acquisition payments year to date and $1M of acquisition and integration-related expenses this quarter; the Axiom Security deal was called immaterial to all guidance metrics in the Q2 release) and no management-stated adjusted or organic revenue figure. Total revenue +11.58% YoY (company_financials, source apininjas: $742M vs $665M; matches the Q3 FY2026 8-K EX-99.1, accession 0001660134-25-000170, no 8-K/A filed) lands in the 8-14% band -> base 7.+EPS+1EPS +1EPS sign change: GAAP diluted EPS moved from $0.00 to $0.24 (release EX-99.1; the prior-year diluted figure is $0.00 because the $16M gain on early extinguishment of convertible notes is removed under the if-converted method, basic EPS $0.09). company_financials.EPS YoY is null (division by a zero base), so scoring.EPS YoY is null, and under the runbook sign-change rule the operating read is the sole input. Operating income crossed zero: GAAP operating loss of $16M a year earlier to operating income of $23M, so the printed operating income YoY +243.75% is off a negative base and the direction of the crossing is the operating read (runbook 'Operating income crossing zero', 2026-10-23): loss to profit -> +1. Contamination check against the release reconciliation (closed list): acquired-intangible amortization $16M vs $18M and acquisition and integration-related expenses $1M vs $0, with no restructuring, impairment or legal-settlement line in either quarter; ex-charge OI is $40M vs $2M, a rise far above revenue growth of 11.58%, so the read is unchanged -> +1. Stock-based compensation ($138M vs $135M) and non-cash charitable contributions ($0 vs $1M) stay in. Serial-acquirer trigger not met (amortization about 2.2 percent of revenue). eps_override_used true because the OI crossing replaced the GAAP EPS spread.+Guidance+1Guidance +1Revision of existing FY2026 guidance (decision gate: NO, this is a revision of the FY26 guide set on the FY2025-Q4 call and last revised on the FY2026-Q2 call). Primary pair = revenue/EPS, both raised in the same direction, so the larger move governs. EPS: prior non-GAAP diluted EPS $3.33-$3.38 (Q2 FY2026 release EX-99.1, accession 0001660134-25-000156) -> $3.43-$3.44 (Q3 FY2026 release EX-99.1, accession 0001660134-25-000170), midpoint (3.435 - 3.355) / 3.355 = +2.38%, a raise under 3% -> +1. Revenue: $2.875-$2.885B -> $2.906-$2.908B, midpoint $2.880B -> $2.907B, +0.94% (+1 on its own), so EPS governs. Both endpoints of both ranges moved up, so the midpoint is the test. Guided non-GAAP operating income also rose, $730-$740M -> $753-$755M, and the diluted share assumption is unchanged at approximately 185 million, so the raise is operating; path (c) does not apply because revenue moved too. The CFO on the call: raising our outlook, now total revenue growth of 11%. Management deferred FY27 guidance to the Q4 call; no FY27 range had ever been given, so nothing was withdrawn, and the Q4 quarterly guide (total revenue $748-$750M, current RPO $2.445-$2.450B) is context only.=Final9
235.00
77.45
May '26Nov '26
235.00
62.66
99
Nov '25Nov '26
Show full quote
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Okta's CEO said a Fortune 50 customer is replacing SailPoint with Okta as it standardizes its identity stack, which points to SailPoint losing that workload.
Ping IdentityNot covered by TellvestFY2026 Q3ManagementCompetitor
“We're working with one of the largest Fortune 50 customers of ours on a wholesale replacement of Ping Identity, SailPoint, CyberArk, and several other identity vendors across our whole stack to standardize on Okta products.”
Okta's CEO said a Fortune 50 customer is replacing Ping Identity with Okta as it standardizes its identity stack, which points to Ping losing that workload.
DatabricksNot covered by TellvestFY2026 Q3ManagementOther
“Or the other choice is you take the company's data and you shove it in a big data warehouse like or Databricks or Palantir, and then the agents have way too much access.”
Okta's CEO said putting company data into platforms like Databricks leaves AI agents with way too much access, which points to an access-control gap in Databricks-based agent deployments.
“Or the other choice is you take the company's data and you shove it in a big data warehouse like or Databricks or Palantir, and then the agents have way too much access.”
Okta's CEO said putting company data into platforms like Palantir leaves AI agents with way too much access, which points to an access-control gap in Palantir-based agent deployments.
“And customers don't wanna get locked in. They're hesitant to commit to the Microsoft stack or the Google stack. They want flexibility.”
Okta's CEO said customers are hesitant to commit to Google's stack for securing AI agents, which signals Okta is pitching its neutrality against Google.
“And customers don't wanna get locked in. They're hesitant to commit to the Microsoft stack or the Google stack. They want flexibility.”
Okta's CEO said customers are hesitant to commit to Microsoft's stack for securing AI agents, which signals Okta is pitching its neutrality against Microsoft.
VezaNot covered by TellvestFY2026 Q3ManagementCompetitor
“So we looked at Vesa. It's interesting. It's a pretty narrow use case in terms of identity management.”
Okta's CEO said Okta had looked at Veza and called it a narrow identity management use case, which signals Okta sees limited threat from ServiceNow buying it.
“And I think it's why you see some of the adoption rates of some of these platforms like Salesforce or ServiceNow or others is, you know, below what people want.”
Okta's CEO said adoption of AI agent platforms such as ServiceNow's is below what customers want because companies are stuck on data access, which points to slower agent uptake on ServiceNow.
“And I think it's why you see some of the adoption rates of some of these platforms like Salesforce or ServiceNow or others is, you know, below what people want.”
Okta's CEO said adoption of AI agent platforms such as Salesforce's is below what customers want because companies are stuck on data access, which points to slower agent uptake on Salesforce.
Okta grew total revenue 11.58% to $742 million in fiscal Q3 2026, and GAAP diluted EPS rose to $0.24 from $0.00 as GAAP operating income reached $23 million against an operating loss of $16 million a year earlier
C3.ai's second quarter of fiscal 2026 showed early signs of stabilization under new CEO Stephen Ehigian, with revenue of $75.1 million up 7% sequentially (though still well below year-ago levels) and bookings inflecting 49% higher sequentially to $86.4 million
CrowdStrike posted Q3 revenue of $1.23 billion, up 22% and exceeding guidance, with non-GAAP EPS of $0.96 and non-GAAP operating income reaching a record $264.6 million at a 21% margin
CoreWeave closed 2025 with full-year revenue of more than $5.1 billion, up 168% year-over-year, and grew contracted revenue backlog to $66.8 billion; fourth-quarter revenue was $1.6 billion, up 110%
F5 grew revenue 7% to $822 million in Q1, with product revenue up 11% and systems revenue up 37% to $218 million, driven by a tech refresh cycle management said is carrying unusual expansion as customers ready infrastructure for AI
Samsara delivered a standout fiscal third quarter, reaching $1.75 billion in ARR (up 29% year-over-year) and posting its first quarter of GAAP profitability
MongoDB delivered an exceptional third quarter, with total revenue of $628.3 million rising 19% year-over-year and landing above the high end of guidance, driven by Atlas accelerating to 30% growth and reaching 75% of revenue
UiPath delivered third-quarter fiscal 2026 revenue of $411 million, up 16%, beating the high end of its guidance across all metrics as ARR reached $1.782 billion, up 11%, on $59 million of net new ARR
Twilio closed 2025 with record fourth-quarter revenue of $1.4 billion, up 14% on a reported basis and 12% organically, as self-serve and ISV revenue each grew 25% plus
ARR Growth Accelerates to 26% with Rule of 78 Performance
OKTAOkta, Inc.
Score 9Rev YoY +11.6%Trend
Okta grew total revenue 11.58% to $742 million in fiscal Q3 2026, and GAAP diluted EPS rose to $0.24 from $0.00 as GAAP operating income reached $23 million against an operating loss of $16 million a year earlier
C3.ai's second quarter of fiscal 2026 showed early signs of stabilization under new CEO Stephen Ehigian, with revenue of $75.1 million up 7% sequentially (though still well below year-ago levels) and bookings inflecting 49% higher sequentially to $86.4 million
CrowdStrike posted Q3 revenue of $1.23 billion, up 22% and exceeding guidance, with non-GAAP EPS of $0.96 and non-GAAP operating income reaching a record $264.6 million at a 21% margin
CoreWeave closed 2025 with full-year revenue of more than $5.1 billion, up 168% year-over-year, and grew contracted revenue backlog to $66.8 billion; fourth-quarter revenue was $1.6 billion, up 110%
F5 grew revenue 7% to $822 million in Q1, with product revenue up 11% and systems revenue up 37% to $218 million, driven by a tech refresh cycle management said is carrying unusual expansion as customers ready infrastructure for AI
Samsara delivered a standout fiscal third quarter, reaching $1.75 billion in ARR (up 29% year-over-year) and posting its first quarter of GAAP profitability
MongoDB delivered an exceptional third quarter, with total revenue of $628.3 million rising 19% year-over-year and landing above the high end of guidance, driven by Atlas accelerating to 30% growth and reaching 75% of revenue
UiPath delivered third-quarter fiscal 2026 revenue of $411 million, up 16%, beating the high end of its guidance across all metrics as ARR reached $1.782 billion, up 11%, on $59 million of net new ARR
Twilio closed 2025 with record fourth-quarter revenue of $1.4 billion, up 14% on a reported basis and 12% organically, as self-serve and ISV revenue each grew 25% plus