Okta (OKTA) Q4 2025 Earnings Call Transcript | Global Market News

Okta (OKTA) This autumn 2025 Earnings Name Transcript | World Market Information

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Okta (NASDAQ: OKTA)
This autumn 2025 Earnings Name
Mar 03, 2025, 5:00 p.m. ET

Contents:

Ready Remarks:David Gennarelli — Senior Vice President, Investor RelationsHi, everybody. Welcome to Okta’s fourth quarter and full yr fiscal 2025 earnings webcast. I am Dave Gennarelli, senior vice president of investor relations at Okta. With me in at present’s assembly, we’ve got Todd McKinnon, our chief government officer and co-founder; and Brett Tighe, our chief financial officer.At across the similar time that the earnings press release hit the wire, we posted supplemental commentary to the IR web site. In at present’s assembly, we are going to embrace forward-looking statements pursuant to the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995, together with however not restricted to statements relating to our financial outlook and market positioning. Ahead-looking statements contain identified and unknown dangers and uncertainties which will trigger our precise outcomes, efficiency or achievements to be materially totally different from these expressed or implied by the forward-looking statements. Ahead-looking statements symbolize our management’s beliefs and assumptions solely as of the date made.Do you have to invest $1,000 in Okta proper now?Earlier than you buy stock in Okta, contemplate this:The Motley Idiot Inventory Advisor analyst group simply recognized what they imagine are the ten best shares for buyers to buy now… and Okta wasn’t one of them. The ten shares that made the cut may produce monster returns within the coming years.

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And now, I might like to show the assembly over to Todd McKinnon. Todd? Todd McKinnon — Co-Founder and Chief Government OfficerThanks, Dave, and thanks, everybody, for becoming a member of us this afternoon. We’re actually happy with our sturdy This autumn outcomes and the end to FY ’25, which incorporates accelerating RPO and cRPO and file profitability and free money move. Demand for each workforce and buyer id merchandise was sturdy, and our growing portfolio of new merchandise is beginning to make an affect. Brett will cowl more of the This autumn highlights, and I’ll cowl why Okta is best positioned to seize more of the large market alternative in entrance of us as we go into FY ’26 and past.As you already know, two of our high FY ’25 priorities had been: one, remodel Okta to change into one of probably the most secure firms within the world; and two, reignite growth by means of prioritizing our accomplice ecosystem, turning up the dial on product innovation, and rising go-to-market specialization. These priorities and purposeful investments constructed momentum as we progressed by means of the yr and actually paid off in This autumn. One yr in the past, we launched the Okta Safe Id Dedication. We have made unbelievable progress on this high precedence and have change into a trusted and main voice for security best practices in discussions with prospects and prospects.The work round security developments won’t ever be completed, nevertheless it’s a sturdy begin. Later, Brett will cowl some of the achievements with our accomplice ecosystem, and I’ll dive deeper into product innovation and go-to-market specialization. Our relentless concentrate on product innovation has been resonating with our prospects as over 20% of This autumn bookings had been from new merchandise, corresponding to Okta Id Governance, Privilege Entry, System Entry, Superb-Grained Authorization, Id Safety Posture Administration, and Id Risk Safety with Okta AI. Okta Id Governance has been a large success.What we hear repeatedly from prospects is the superb time to worth with OIG. Clients are getting up and working simply a few short months after signing. Since launching OIG simply two years in the past, we now have over 1,300 prospects contributing over $100 million in annual contract worth. That is great progress, and the product is just getting higher as we proceed so as to add more performance character.

Along with OIG, we’ve got one other roughly $300 million of business with Okta Lifecycle Administration and Okta Workflows. Mixed, that is over $400 million in governance-related business, and we’re simply getting began. We all know that prospects that undertake more merchandise have the very best retention charges. So, we’re excited in regards to the trends right here and the long-term contributions to the business.Product innovation continues to be a key investment space in FY ’26. To get security proper, organizations need to get id proper. With the regular rise of cloud adoption, machine identities, and now, AI brokers, there has by no means been a more crucial time to secure id. Final week, we held our annual launch week occasion the place we highlighted our latest improvements.Listed below are simply a few. On the Okta platform, Buyer Id for U.S. public sector is now even higher, new options, together with password lists, enhanced security, and streamline the person expertise whereas serving to businesses meet strict compliance wants. We additionally introduced Workforce Id suites, that are new pricing packages designed to supply a easy and unified answer tailor-made to our prospects’ security wants.These suites will present even quicker time-to-value outcomes for our prospects on the Auth0 platform we introduced Auth for GenAI. We’ll start early entry this month. We have already got a waitlist of keen prospects starting from early start-ups to Fortune 100 organizations. Auth for GenAI is developed to help prospects securely construct and scale their gen AI purposes.This suite of options permits AI brokers to securely call APIs on behalf of customers whereas imposing the suitable degree of entry to delicate data. We held our annual gross sales kickoff assembly a couple of weeks in the past, and our go-to-market group is actually enthusiastic about all of the new product innovation. Partly, our quickly increasing portfolio of id security options is what led us to the shift we’re making in our go-to-market strategy to additional specialize. Clients need us to fulfill them the place they’re.

And to deal with this, we’re increasing our specialization into Okta sellers and Auth0 sellers. Okta sellers will focus engagement on IT and security purchaser wants, together with all Workforce Id merchandise, in addition to Okta Buyer Id. Auth0 sellers will concentrate on assembly the distinctive wants of builders, which embrace extremely technical buyer id customizations and versatile deployment fashions. Success we have had with gross sales specialization in different components of the business offers us confidence that that is our alternative to higher serve our prospects through additional focus and to higher drive Okta’s growth.And at last, I need to share our FY ’26 priorities, which construct upon the great progress we made in FY ’25. The primary precedence is elevate the industry with the Okta Safe Id Dedication. This initiative underscores our dedication to be the trusted chief in combating identity-based threats. I am unable to inform you how a lot this resonates with our prospects and prospects who now search Okta’s advice and steerage on hardening their IT security environments.Subsequent is win IT and security with Okta. Id has change into fragmented, and prospects are more and more interested by unified platforms that ship built-in security outcomes earlier than, during, and after authentication. Id investments have change into more strategic with the security purchaser entrance and center. Okta’s market-leading and increasing product portfolio makes us uniquely positioned to capitalize on this chance.And the third precedence is win builders with Auth0. This focuses on additional strengthening Auth0’s market presence by means of strategic investments in product innovation, model, and advertising. Seminal buyer wins just like the World 2000 food and beverage retailer that bought Auth0 in This autumn to switch their ageing homegrown system offers us elevated confidence in our capacity to seize more of this large market alternative. Earlier than wrapping up, I need to congratulate Eric Kelleher on his promotion to chief working officer.Eric has been half of our management group since 2016 and will probably be targeted on reigniting growth, championing the Okta Safe Id Dedication and building on Okta’s status because the world’s id company. I additionally need to thank and congratulate Eugenio Tempo, who will probably be retiring this month. As a co-founder of Auth0, he helped construct an unbelievable platform. And his contributions to Okta over the previous 4 years can’t be overstated.

He will probably be missed. To wrap issues up, we’re excited in regards to the momentum we have constructed going into FY ’26 and are taking the suitable steps to advance our place because the chief within the id market. Extra and more, prospects need to consolidate their disparate and ineffective id systems, and Okta is there to fulfill them with probably the most complete id security platform within the market at present. I need to thank your complete Okta group for his or her tireless effort and likewise thank our loyal prospects and companions who put their trust in us each day.Now, this is Brett to cowl the financial commentary and discuss how we’re positioned for long-term profitable growth.Brett Tighe — Chief Monetary OfficerThanks, Todd, and thanks everybody for becoming a member of us at present. Like Todd, I am happy with the top-line outcomes, which stemmed from the arduous work and investments we have made, reworking the business round security companions, go-to-market modifications, and product innovation. I am particularly proud of the unbelievable progress we have made building on the effectivity initiatives we began over two years in the past. That is best illustrated by the roughly 9 factors of working margin growth and 6 factors of free money move margin growth we achieved for FY ’25, all whereas making the suitable investments for future growth.We’re proud to as soon as again end the fiscal yr above the Rule of 40, which we have achieved yearly since going public in 2017. My commentary will present insights to our This autumn financial efficiency after which transfer on to our outlook for Q1 and FY ’26. Underpinning our general power in This autumn with gross sales productiveness that reached a multiyear high. Notably, Auth0 had its best bookings quarter in historical past, which is one other testomony to the arduous work that the group has put in all yr.We additionally skilled specific power cross-selling workforce into current CIAM prospects and cross-selling new workforce merchandise to current workforce prospects. The sturdy This autumn outcomes had been highlighted by RPO that elevated 25% and crossed the $4 billion mark. Driving acceleration in RPO growth was the increase in weighted average time period size for This autumn offers, which reached a multiyear high. We achieved file bookings in This autumn, which crossed $1 billion in whole contract worth for the primary time.

Giant offers and huge prospects proceed to be the driving power behind our success. A great illustration of our success with giant prospects is that the entire contract worth of our high 25 offers in This autumn was over $320 million. Moreover, we added 25 prospects in This autumn with $1 million-plus ACV within the quarter. Our whole base of $1 million-plus ACV prospects grew 22% to 470.The $1 million-plus cohort represents over $1 billion in whole ACV. Our concentrate on deepening our relationship with our accomplice ecosystem as half of our growth initiatives is actually paying off. Within the fourth quarter, over 70% of offers had been partner-influenced. That features 18 of our high 20 offers closed in This autumn.We had been lately honored to be named accomplice of the yr by AWS Market. Our partnership with AWS Market has been a super success. The best demonstration of that success is that in This autumn, we surpassed over $1 billion in combination whole contract worth for the reason that partnership was introduced simply 4 years in the past In FY ’25, income from AWS Market grew over 80%. Now let’s flip to our business outlook for Q1 and FY ’26.The headcount discount motion we took final month was half of our ongoing evaluation to optimize our price construction. The motion is meant to reallocate {dollars} and assets towards priorities to drive growth and was factored into the preliminary FY ’26 steerage we offered final quarter. We’re taking a prudent strategy to ahead steerage that components in our beforehand introduced go-to-market specialization. For the primary quarter of FY 26, we count on whole income growth of 10%, present RPO growth of 12%, non-GAAP working margin of 25% and free money move margin of roughly 25%, inclusive of the anticipated money affect of roughly $11 million associated to the headcount discount anticipated to be paid out within the first quarter.For the total yr FY ’26, we’re raising our outlook throughout the board. We now count on whole income growth of 9% to 10%, non-GAAP working margin of 25%, and a free money move margin of roughly 26%. To wrap issues up, we stay targeted on reigniting growth and driving spend efficiencies and money move. We have demonstrated distinctive leverage in our model and are positioned to ship profitable growth for years to return.

With that, I am going to flip it back to Dave for Q&A. Dave?David Gennarelli — Senior Vice President, Investor RelationsAll proper. Thanks, Brett. I feel our attendees are going to be moved over as panelists now, and I am going to take the questions because the arms get raised so as. And within the curiosity of time, please restrict your self to 1 query in order that we are able to get to everybody.After which, you are welcome to queue back up after we get to further questions. So with that, I am going to take the primary query from John DiFucci at Guggenheim. John?John Difucci — AnalystThanks, guys. Thanks. I do not usually say this, however good job, guys. Pay attention, you’ve got talked previously on this — I feel that is for Brett, however possibly Todd, too — about your prudence in giving steerage.And also you talked about it again in your ready remarks. However I simply need to form of gauge that a little bit as a result of has that modified in any respect? Particularly your annual steerage, which was a fairly massive uptick from the earlier numbers. You realize, or has one thing modified within the business and even the macro backdrop? Todd, I feel you had been the primary man to say, “Hey, listen, this is a new normal out there.” Is there any modifications on the market that provides you more confidence that you do not have to be fairly as prudent in giving steerage I assume is —

Todd McKinnon — Co-Founder and Chief Government OfficerWell, for This autumn — John, thanks for the query, and thanks for the praise in the beginning. This autumn was a blowout. We actually, actually had a great quarter. And after we talked three months in the past on the call, I discussed — we talked about steerage and the initial steerage we gave, and I stated “The year FY ’25, the year we just finished was pretty back-end loaded.” And the group actually delivered.It was a — it was a blowout quarter. And a few of the stats, it was the first-time ever. We had over $1 billion of bookings in a quarter, a file quarter for Auth0, and, you already know, the highest million-dollar deal cohort grew 22% yr over yr. So, the information and the large stats go on and on.So, that informs there’s — that is half of the equation for the steerage for subsequent yr. You see the raise we did on the steerage. However I feel simply zooming back a little bit in phrases of the macro and what is going on on, I feel the macro is constant. I feel possibly the distinction is that this concept, that id is that this actually important foundational layer, significantly for large firms.They usually can modernize the disparate systems they’ve, they usually can — in the event that they invest on this layer, it is going to actually result in higher security outcomes. They’ll get a deal with on their varied id silos. They are going to have the ability to do governance and privilege and buyer id with one vendor. It’ll lead — it is going to help them with AI and agentic workloads.Persons are attempting to sew collectively agentic platforms and write their own agentic systems. And what they run smack into is, “Wait a minute, how am I going to give these agents access to all these systems if I don’t even know what’s in these systems and I don’t even know the access permissions that are there and how to securely authenticate them.” So, that is driving the business. However great quarter. We’re very bullish.

However, you already know, we’ve got — we’re — you already know, Q1 is simply midway over, and we’re making sure that we’re prudent in our steerage going ahead as effectively.John Difucci — AnalystSo, it feels like issues are just about the identical, you guys are executing, issues are coming collectively for Okta?Todd McKinnon — Co-Founder and Chief Government OfficerYeah. Completely, yeah. We’re very excited.John Difucci — AnalystAwesome.Brett Tighe — Chief Monetary OfficerJohn, I can reply a little bit on the philosophy. I feel in case you bear in mind final quarter, we talked about lowering the conservatism within the model that we have talked to — you already know, we have issued right here. Identical program. We’ll proceed to try this in — for the steadiness of FY ’26.The one line merchandise in there’s something we talked about earlier, which is additional specializing within the area. However, yeah, that is — that is actually — that is it. However earlier than I get off this, I ought to simply say congratulations to your complete go-to-market group. They did a heck of a job within the quarter.I hope all of you guys recognize that and see it within the numbers as a result of we’re actually happy with how they executed. And searching ahead to a sturdy FY ’26.

John Difucci — AnalystWe can see it. Thanks, guys.David Gennarelli — Senior Vice President, Investor RelationsOK. Let’s go to Eric Heath at KeyBanc.Eric Heath — AnalystGreat. Thanks, guys. And actually a great quarter, great to see. Two for me.Brett, simply begin with you. Rapidly on the cRPO information for 1Q. It appears to be like prefer it’s down a few factors sequentially. So, something to call out relating to that seasonality? After which, Todd, I needed to ask you a little bit more on the specialised gross sales model for this yr.Are you able to simply elaborate a little bit more on the prevailing knowledge factors that you just’re seeing otherwise you’ve applied already that is providing you with confidence in that strategy and simply help us perceive possibly the degree of change this entails? Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerThat is smart. Hey, Brett, possibly you go first on the cRPO.Brett Tighe — Chief Monetary OfficerYeah, it is a actual short reply. The seasonality of our fiscal years are pretty back-end loaded similar to Todd spoke about. So, Q1 simply has that reducing of expectation, if you’ll, in phrases of the growth. So, you already know, it is clearly very early within the yr.

And Q1 is, like I stated, seasonally our lowest quarter sometimes.Todd McKinnon — Co-Founder and Chief Government OfficerSpecialization has been the development for a little bit over a yr now. Initially of FY ’25, we specialised the company group in phrases of hunter-farmers, and we discovered a lot from that. We discovered that the transition into that model took a couple quarters, a little bit gradual out of the gate, however then paid off within the second half in a sturdy means. And so, after we take into consideration additional specialization, it is smart for a lot of causes.And the largest motive is that the merchandise are a lot more detailed and a lot more submarkets. In case you’re an Okta vendor at present, you are promoting actually an built-in Workforce suite that creates an id material for our prospects throughout many classes, entry management, id governance. These are all — historically, we’re all separate firms, Privileged Entry Administration, Id Safety Posture Administration, Id Risk Safety with Okta AI. And so, these are all totally different subcategories that we’ve got a very distinctive place we’re in.We’re attempting to convey these collectively into one platform and go to a massive buyer. Like, we closed a massive deal in This autumn. It was a — actually — it was a massive upsell on a deal we talked about in Q3, which was a world technology company, Fortune 500 company. They usually actually went all in with this end-to-end Workforce Id suite.All of our merchandise retiring 10 legacy purposes for simply a large — you already know, it is one of these massive offers that put that over $1 billion of TCV on the board in This autumn. I am not saying this one deal was $1 billion in TCV, however I am saying that these form of offers led to that sort of quantity as they added up within the quarter. And so — after which, while you go on the Auth0 facet, you are speaking about promoting a platform to builders, people building technology, it is fairly broad. It is acquired the core authentication and issues like that.

However it additionally has id — fine-grained authorization, which is like how do you truly get subdomains of permissions inside your purposes or extremely regulated id, which is superior capabilities to do step-up authentication and so forth. And so, your — and now, we’ve got — on the Auth0 facet, we’ve got Auth for GenAI. It is like how do you truly sew this collectively in case you’re building agentic purposes and make all of it secure and make sure that brokers do not get hacked and make sure the brokers have the suitable authentication, and so forth., and so forth. So, that is a lot to know as a vendor.And so, we’re on this arc of specialization, which goes to actually result in long time period growth as a result of these merchandise have change into so highly effective. And these superior people in our go-to-market group, probably the most gifted people within the industry, they will actually drill in and perceive what these merchandise do. And after we take a look at like success metrics, we speak to prospects and we speak to prospects. And we ask them, “How are these leading to the great outcomes for you? How are you in the sales process understanding these things? Because identity is complicated.And if our seller can go in there and really understand the details of what these products are doing it, we’re — it further differentiates us. We’re already differentiated because, you know, we’re basically competing against a large monolithic platform that kind of says, “Hey, put all the pieces in our stack, and we’ll do all of it for you, possibly.” Besides no one actually has all the pieces in a single stack, so it would not actually work. Otherwise you’re speaking to level id distributors which do not have the entire platform we’ve got. They do not have buyer id, they usually do not have privilege and governance, and id security posture management, and menace safety.And so, if we may come to a vendor that is aware of the main points of these merchandise and might actually converse the client’s language, that simply additional differentiates us and results in higher win charges. So, that is the metric we’re watching as we transition into this, and it is off to a good begin. Persons are pumped about it. We noticed the success in a little — you already know, what we did final yr with hunter-farmer.And it is actually — we’re enthusiastic about this yr and dealing arduous to, you already know, even go quicker and grow more and do even higher than This autumn. This autumn was great. However we’ve got massive ambitions right here. We’re attempting to do a lot more, and the group is fired up to try this.

Eric Heath — AnalystThanks, Todd.David Gennarelli — Senior Vice President, Investor RelationsLet’s go to Brad Zelnick at Deutsche Financial institution.Brad Zelnick — AnalystGreat. Thanks a lot, and congrats on the blowout This autumn. I do not know if that is higher for Todd or for Brett, but when I mirror during the last couple of years, Okta, like many different firms within the software program industry, we had been speaking about seat-based headwinds. And if I feel back to the feedback that you just made at Oktane, you talked about an expectation that that may proceed.You anticipated that, that may persist by means of the primary half of subsequent yr. And I am simply questioning, as we take into consideration the places and takes of the business, the place your head is now. And are — is what we’re simply seeing right here in these outcomes and the steerage that you just’re offering us super success in governance and OPA that is more than offsetting that? Or do you will have a change in what your expectation is? And I feel, Brett, you had stated if the macro had been higher, that possibly we would see enchancment sooner than the midpoint of subsequent yr. Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerYeah. Possibly I am going to — possibly I am going to begin after which, Brett, you’ll be able to take part. However on the seat-based headwinds, I feel the macro situation we have seen has been pretty — it has been constant for a whereas now. I’d say a couple of years.And we expect it is going to be the identical going ahead. I feel the large distinction, as you talked about, is that in contracts we signed in, call it, you already know, first quarter of 2022 after which in calendar ’21 and earlier than it was the zero rate of interest period and people had been, you already know, shopping for a little bit — you already know, they only purchased a lot, they usually over forecasted what they are going to need. And in case you needed a thousand issues, you acquire 1,500. And now, the world is totally different within the final two years.Now, in case you need 1,000, you buy 700. After which, you wait to see while you go 701, then you definately buy that final seat. So, it is a very totally different world. However as these issues — our average contract size is 2 and a half years.

So, as these contracts come up for renewal, they do not get renewed. They do not get renewed at 1,500. They get renewed at a right-sized degree. So, you are seeing that headwind abate.It doesn’t suggest the macro is altering. It simply implies that our contracts are rolling off from that, I feel, unsustainable period earlier than.Brett Tighe — Chief Monetary OfficerYeah, I’d simply add, Brad, to that query, which is, do you will have two choices shopping for more merchandise or the headwinds abating? It is shopping for more merchandise. We noticed that within the new product share we gave you guys. So, these headwinds are nonetheless there. It is simply the group executed rather well.And new business, upsell, upsell or renewal, I imply, they only — that they had a heck of a quarter. And that is why I congratulated him in the beginning of the quarter — in the beginning of this call. It is — yeah, actually glorious execution from the gross sales group.Brad Zelnick — AnalystThey all deserve it. Thanks.David Gennarelli — Senior Vice President, Investor RelationsOK, subsequent up –Todd McKinnon — Co-Founder and Chief Government OfficerThey all made a lot of money, Brad. All of them made a lot of money, in order that’s a little bit of a thanks for that.

David Gennarelli — Senior Vice President, Investor RelationsNext up is Joe Gallo with Jefferies.Joseph Gallo — AnalystHey, guys, thanks for the query. It was superior to see the $1 million cohort symbolize over $1 billion of whole ACV. Todd, are you able to simply discuss how a lot alternative stays with these largest prospects? How are the web income retention charges there? And is that the place we must always count on the majority of growth this yr to return from, or ought to the mid-market rebound a little bit? Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerYeah, so I feel it is a actual insightful query. So, I feel that the possibly not-so-secret secret is that even with our success, we’re actually simply scratching the floor. In case you take a look at IT spend, in case you take a look at the — simply that is form of quantitatively, you’ll be able to take a look at whole IT spend and sort of attempt to extrapolate what that may imply for us. However I feel the more highly effective factor is simply speak to prospects and get to know them and work with them by means of this journey.I informed the story of that, you already know, Fortune 500 tech company final quarter. We did a massive deal with them in Q3. And now, this quarter we did one other deal that is even larger. And that first deal appeared large.However while you examine it to what they’re saving and the worth they will get from that and what they will take out of the setting in phrases of lowering complexity and streamlining effectiveness — so their security operations are more efficient. They form of have one view of all their identities throughout privilege and governance and entry management. It’s extremely highly effective. They usually have not even completed the client id deal but.That may be larger than the entire thing. So, it is like one anecdote. However I feel there’s a whole lot and a whole lot and a whole lot of these firms on the market which are simply beginning to get on this bandwagon. So, the potential is very large.

That being stated, additionally, Okta’s bread and butter growing up was form of this mid-enterprise or lower-enterprise success. And with all our investments within the accomplice ecosystem and the hunter-and-farmer specialization and the — you already know, we crossed the billion-dollar threshold with Amazon. This was like a quarter of billion-dollar thresholds by means of {the marketplace}, billion {dollars} of TCV, which is a lot of that is within the enterprise. However some of it — you already know, a massive half of that, too, is within the mid-market.So — after which, on the low finish, our self-service business — or on the Auth0 facet, we’re doing more and more there. That by no means even touches a salesperson. And by the way in which, as soon as that will get to a sure level, it may be upsold into the an enterprise plan. So, we’ve got this strategy the place we’re going from high World 2000 with these giant platform offers, you already know, we talked about the highest 25 offers with $320 million of bookings within the quarter, all the way in which down to the underside with the self-service plans.And, yeah, it is sturdy power throughout the board.Joseph Gallo — AnalystAwesome to listen to. Good job, guys.David Gennarelli — Senior Vice President, Investor RelationsThanks, Joe. Subsequent up is Gabriela Borges at Goldman.Gabriela Borges — AnalystHi. Good afternoon. Thanks. Todd, I needed to observe up in your feedback on Auth0 and a few of the nuances to the go-to-market this yr.Possibly simply remind us, I do know you’ve got experimented with Auth0 go-to-market previously. What have been your learnings from the prior iterations of go-to-market? And simply crystallize for us, what’s totally different with how you are approaching the Auth0 go-to-market this yr versus some of the opposite methods of promoting that you’ve got experimented with previously?Todd McKinnon — Co-Founder and Chief Government OfficerYeah, it is actual easy. After we purchased the company, it was two separate gross sales groups after which we mixed it into one generalist gross sales group, so everybody offered each merchandise. And we did that in 2021 — proper on the finish of 2021, so proper in the beginning of 2022 as a result of we needed protection. We needed to get the product on the market.

The product was on fire. It was growing tremendous fast. We needed to get it to as many people as attainable, as fast as attainable. And what we discovered during the last two years is that works particularly in This autumn.It labored effectively, file quarter ever for Auth0. However we additionally discovered is that that is difficult stuff and the product during the last two years has expanded and acquired more highly effective with fine-grained authorization and extremely regulated id and different capabilities inside of Auth0, simply options and enhancements and how people use it and the SDKs. And the identical issues occurred on the Okta facet. So, it actually acquired to a level the place we had been seeing that people that had been tended to concentrate on one space had been more productive.We noticed conversations with sure patrons round, you already know, product officers or technical patrons versus IT and security. They had been more form of differentiated conversations. And so, after we look out the following 5 years, as we go from the place we are actually, you already know, $2.6 billion in income final yr, reaccelerating growth, building, you already know, this large company we’re attempting to construct over time, we expect the suitable method to do it’s to have specialised sellers, specialised entrepreneurs, specialised, you already know, demand era to talk to these worth props, these patrons. We’ll serve a number of patrons over time.We’ll serve each purchaser within the C-suite in the end. Id touches all the pieces, and that is a good step in the suitable direction.Brett Tighe — Chief Monetary OfficerI would additionally add, one of the issues that we have completed in phrases of taking the sector and placing them both on Okta or Auth0 is placing them in locations that they are snug, proper, the place they’ve the talent, they have the specialism already. And so, that is why we’re enthusiastic about this. As a result of we take a look at the outcomes, such as you simply noticed in This autumn, file Auth0 bookings. Let’s put a lot of these people on the Auth0 facet of the home and see how effectively they will do with all these great new merchandise which are popping out.

Gabriela Borges — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsNext up, we’ve got Adam Borg from Stifel.Adam Borg — AnalystAwesome, and thanks a lot for taking the query. Todd or Brett, so, clearly, such as you stated, actually sturdy quarter right here, look to be broad-based. However is there any geography of vertical that stood out? And possibly, as you consider form of the setup into fiscal ’26 versus ’25, no less than qualitatively, Brett, are you able to speak in regards to the dimension of the pipeline, the standard of the pipeline getting into this yr relative to final? Thanks a lot.Todd McKinnon — Co-Founder and Chief Government OfficerI suppose the strongest geography was North America. Such as you stated, power throughout the board. However in phrases of like being exceeding expectations and actually blowing out their plan, North America was high of the listing there. And that, you already know, I feel long time period, a massive growth alternative for us, as we have talked about a lot, is worldwide.It is nonetheless, you already know, proper round — hovering proper round 20-ish % of our whole income. And over time, that must be larger as we drive broad-based enlargement across the globe. The issue is North America will not gradual down, so we acquired to determine how to do each on the similar time.Brett Tighe — Chief Monetary OfficerYeah. I’d say, EMEA additionally had a actually good quarter. Public sector had a actually good quarter. I imply, it was a actually sturdy quarter throughout the board.I do not suppose we may discover an space of weak spot, frankly. I imply, new business upsell, upsell/renewal, cross-sell, all the pieces actually went effectively. The group executed actually fairly effectively. Very proud of the trouble.

Adam Borg — AnalystGreat. And possibly simply remark simply on the standard of the pipeline getting into this yr versus final dimension, or something you would remark there.Brett Tighe — Chief Monetary OfficerYeah. We’re snug with the pipeline primarily based on the steerage we gave right here you guys at present. So, we’re snug with the place we’re at. Enthusiastic about executing in FY ’26.Adam Borg — AnalystNice work. Thanks again.David Gennarelli — Senior Vice President, Investor RelationsOK. Subsequent up, Jonathan Ho at William Blair.Jonathan Ho — AnalystLet me echo my congratulations as effectively on what seems to be a good inflection within the business. Are you able to help us perceive the chance for agentic AI and possibly how AI may play a position within the rising quantity of identities on the market and significantly how Okta, you already know, doubtlessly advantages from that? Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerYeah. Jonathan, the — I am going to focus in on the — AI is a fairly massive matter. And I do know there’s a lot of people on the market within the world attempting to provide everybody broad-based classes about it. So, I am going to spare you that and I am going to concentrate on the agentic half of AI.That is in all probability probably the most — within the medium time period, that is in all probability probably the most relevant to our business. And I feel the way in which to consider it’s an important problem of id and security for a long time has been machines or one other method to call them is service accounts. So, you will have all these systems and you’ve got all these networks and you’ve got all this infrastructure. And there is people that log into it, and we’ve got methods to handle that and have biometric authentication.

And we’ve got single sign-on systems. After which, there’s machines that log into that stuff. And, you already know, in case you take a look at a server, possibly, you already know, in all probability 99.9% of the connections to that server are in all probability different machines. And so, this problem of machine id has been with us for a long time.And there is been totally different methods on how to handle it and totally different approaches, totally different protocols. We have gone by means of totally different waves within the industry. We had, you already know, firewall-based the place we attempt to lock all the pieces. We had no lateral motion, knowledge center applied sciences the place you attempt to control machine account entry inside the information center and the material of the community.We have had PKI, which, you already know, 20 years in the past, 15 years in the past was the way in which we’ll give each machine a public certificates, and we’ll handle that every one in a certificates authority. That sort of by no means actually took off besides in some slim instances. And now, right here we’re at present with this — the agentic revolution is actual. And the facility of AI and the facility of these language fashions, the interplay modalities that you could have with these systems, these machines doing issues in your behalf and the — what they will do and how they will infer subsequent actions, and so forth., and so forth., you all know it is actually actual.However the way in which to consider it from an Okta perspective, it’s like machine id on steroids, turbocharged to love two orders of magnitude larger. So, that is like actually thrilling for us as a result of what will we do? half of our business is definitely logging in machines proper now. Auth0 has the machine-to-machine tokens, the place people, in the event that they construct some form of web app that companies different machines, they will use Auth0 for the login for that. Okta has related capabilities.And now, you haven’t solely that primary authentication problem, however you will have the — all of these purposes. As, you already know, two orders of magnitude, more issues logging in, it’s a must to actually fear in regards to the fine-grained authorization into your companies. So, in case you’re in an enterprise and also you’re building a system that’s going to be an API that the brokers speak to — by the way in which, that’s an beneath — that’s a misunderstood factor, or not a effectively understood factor. If you wish to get agentic AI in your enterprise, yeah, one answer is you are able to do all the pieces in Salesforce or you are able to do all the pieces in ServiceNow, however that is fairly impractical for many organizations.

So, what they’re doing is that they’re building an AI wrapper round a bunch of stuff. And now, as soon as they get that a — or, sorry, an API wrapper round a bunch of stuff. And as soon as they get that API, they need a system like fine-grained authorization from Auth0 to make sure that it is simple to specific the principles on who and what brokers and what roles and what group can entry which components of the knowledge inside that API. So, it is — you need to say Jonathan can entry these information, however John can entry these different information, and Gabrielle can entry these others.You are able to do that with FGA. After which, while you put these APIs in entrance of all of your systems, you will have a good fine-grained authorization model. So, now while you begin building your brokers that speak to those APIs, these brokers are solely seeing what they will see since you do not need to open the entire world to these brokers as a result of if that factor goes awry or that factor will get hacked, then all of your knowledge is uncovered versus precisely what the brokers would see. So, it is least privileged, it’s extremely important.Now, on the agent facet, the equal of a lot of these deployments have like passwords arduous coded within the agent. So, if that agent will get compromised, it is the equal of your monitor having a bunch of sticky notes on it along with your passwords earlier than single sign-on. So, Auth for GenAI offers you a protocol and a means to try this securely. So, you’ll be able to store these tokens and have these tokens which are secured.After which, if that agent must come out and get some approval from the person, Auth for GenAI helps that. So, you will get a step-up biometric authentication from the person to say, “Hey, I want to check Jonathan’s fingerprint to make sure before I book this trip or I spend this money, it’s really Jonathan.” So, these three components are what Auth for GenAI is, and we’re tremendous, tremendous enthusiastic about it. We’ve a waitlist over, you already know, 200-plus Fortune 100s and start-ups which are on that factor. They need this product.And it is going into early entry this month, so we’re actually watching it carefully to see how effectively it will possibly do.

Jonathan Ho — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsAll proper. Subsequent up is Ittai Kidron at Oppenheimer.Ittai Kidron — AnalystHey guys. Once more, congrats on a great quarter. A pair from me. Brett, on the cRPO you gave steerage for the primary quarter however not for the fiscal yr.To a earlier query, you stated, you are — that is starting of the yr, so that you’re a little bit conservative on the cRPO. So, I assume we must always assume it solely accelerates from right here until the tip of the fiscal yr in growth. Assist me get some shade on that. After which, for you, Todd, you did not discuss PAM and the progress that you’ve got had with that and how a lot that is contributing to your business.Possibly you’ll be able to share some knowledge factors on progress there. Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerSure.Brett Tighe — Chief Monetary OfficerHey, Ittai. I am going to simply take — it is a fast one. We solely information one at a time, one quarter at a time. We have by no means completed a yr out.So, allow us to get by means of Q1, after which we’ll offer you a information for Q2 and go from there.

Ittai Kidron — AnalystSounds good.Todd McKinnon — Co-Founder and Chief Government OfficerYeah, PAM is doing great. The — I discussed the new merchandise, the entire new merchandise had been 20% of the bookings within the quarter, which is great. The standout there, I feel, in phrases of dimension and maturity is Okta Id Governance. I discussed that over 1,300 prospects, $100 million of simply OIG bookings while you add within the different lifecycle and workflow, which is actually what you would come with.In case you form of checked out all of the components of governance of our business, it is over $400 million of bookings, which is great. PAM’s not at that scale but, nevertheless it’s off to a actually good begin within the quarter. We signed a deal with a actually model identify financial companies company for — World 2000 company that purchased — this current Okta buyer upgraded within the quarter to not solely the entry management product that they had earlier than, however they added Id Safety Posture Administration, Id Risk Safety with Okta AI, and Okta Privileged Entry. So, they added these three merchandise, and it elevated the ARR on that account, you already know, north of 30%.So, that was a fairly important upsell. And the tales like these are on and on. And I feel that product, Okta Privileged Entry, is — I feel it is getting actually good and actually mature, and we’re including more capabilities. We have a great engineering group transferring shortly.It is actually a trendy product. It is built-in great with SaaS purposes. It is form of a rethinking how the privileged entry management market is. And I feel, you already know, within the subsequent few years, as we’ve got these conversations more, I feel what you are going to hear more and more is it is simply not a — it is like a simply half of the entire suite, and also you buy it as half of — since you need it along with your entry management? And I feel a lot of the distributors in our space agree with this.Like, they see the imaginative and prescient that that is all going to be one factor. You are not going to be shopping for separate governance and separate PAM and separate posture management. You are going to buy an id platform. And we’re in a great place to ship that.

In case you go searching, in order for you an unbiased impartial id company, there’s no one else has the items we’ve got. Nobody has privilege and entry management. Nobody’s at close to our scale. Nobody has pure SaaS heritage and might do these integrations and would not need to handle a advanced mixture of prospects which are form of considerably upgrading to their SaaS answer, however not likely.And the large prospects do not need to do it, they usually’re form of managing a number of issues. We do not have these issues. And so, this market is ours to take. And we’ve got a lead — you already know, the dimensions we’re working at is, you already know, it’s a must to mix like two or three of the opposite firms and unbiased id to get close to the dimensions we’ve got.And we are able to convey that every one to bear with our main prospects and our great engineering group to keep innovating and we’ll see outcomes like we simply noticed. I feel Jonathan used the phrase earlier than on the earlier query about inflection. I actually suppose that is an inflection, and I am actually excited. We’ve work to do to back it up and keep going, however I am actually enthusiastic about what the longer term brings for Okta.Ittai Kidron — AnalystGood stuff. Thanks.Brett Tighe — Chief Monetary OfficerJust one level to make clear, Ittai. When he was saying $100 million in $400 million, that is annualized contract worth. So, that is the entire guide of business, OK? Not simply — not bookings, you stated bookings. So, I simply need to make sure we’re all on the identical web page.So –Ittai Kidron — AnalystSorry about that. Sorry.Brett Tighe — Chief Monetary OfficerNo, it is OK. Simply need to make sure we acquired the info straight. They’re large companies. They’re large.

And we’re actually proud of the place they’ve gotten to, however we acquired a lot of alternative as we transfer ahead.Ittai Kidron — AnalystSounds good. Thanks.David Gennarelli — Senior Vice President, Investor Relations All proper. Let’s go over to Shrenik Kothari at Baird.Shrenik Kothari — AnalystHey, superior. Thanks for taking my query. Congrats on a great execution. Simply a fast couple from me.So, you are capitalizing on cross-selling, which is great. And what stood out — Brett, you talked about the sturdy public sector efficiency, particularly integrating the client id within the public sector. So, as your federal momentum retains building, proper, simply curious, within the face of the near-term federal uncertainties, how are you you seeing the close to time period, medium time period, long time period, form of outlooks for not simply your alternative set but additionally the execution dynamics? Any particular initiatives that is serving to you navigating these difficult federal dynamics proper now? And I had a fast follow-up.Todd McKinnon — Co-Founder and Chief Government OfficerPublic sector for us is — consists of federal, U.S. federal, of course, U.S. business federal and, and DOD, but additionally consists of all of the state and native. And so, it is a massive, important vertical for us.

So, the momentum throughout your complete vertical could be very sturdy, as you talked about, however let’s not lose sight of the state governments and the large offers outdoors of federal that we closed final yr and in This autumn particularly. So, now, specializing in the U.S. federal particularly, I feel there’s a lot — clearly, a lot happening there with the new administration and eager about the federal government construction and effectivity and so forth, which is all tremendous important. However massive image, the — I feel the quantity of licenses that we have offered into the federal authorities, thus far, is — it is a good begin, nevertheless it’s comparatively low, particularly in comparison with the money they’re spending and the complexity and the risk they’ve with their legacy id systems.The federal authorities has a lot of legacy id systems. The businesses, we have been profitable in is as a result of we have been capable of consolidate and substitute and actually help modernize these purposes. And I feel that while you discuss effectivity and efficient authorities, that is — we’re like excellent for that. You do not have to handle servers.You do not have to — the implementations are a lot simpler. The time the time-to-value is far larger. The quantity of people it takes to run our companies and run our systems at a buyer is much, far, far much less than the legacy id applied sciences the place they need to improve it and keep it. And, you already know, it is — and it is not as a result of the — you already know, it is not — it is as a result of the legacy technology that surrounds these id systems is — it is arduous to combine to.However as these issues get modernized and the federal authorities goes for more effectivity, we’ll have a massive alternative to help them try this. And I feel, yeah, I imply, there’s in all probability a little bit of uncertainty proper now, particularly within the first half of the yr as issues get sorted out. However I am very assured that we’ll be a massive — we’ll be very profitable within the federal authorities and serving to them modernize and be more secure. Nobody desires a federal authorities that is not secure.I feel that is in all probability the one nonpartisan factor in Washington lately. And we are able to help them be more secure, and that is why we’re so enthusiastic about that chance.

David Gennarelli — Senior Vice President, Investor RelationsGreat. Let’s go to Grey Powell at BTIG.Grey Powell — AnalystAll proper, great. Thanks very a lot for taking the query. And congratulations on the great outcomes. So, I assumed the 100 million ACV stat on OIG was — it is a good quantity, actually useful.You referred to as out the 300 million on lifecycle management workflows. So, I am curious if these prospects had been to improve to OIG, are you able to give us a ballpark sense as to what the uplift could be? After which, simply how ought to we take into consideration the growth of your governance merchandise, you already know, on a mixed foundation over the following yr versus the remaining of the business?Todd McKinnon — Co-Founder and Chief Government OfficerYeah, I feel the way in which to consider it’s, we have talked about this persistently now for a whereas, once they improve to OIG, it may be a 30- to 40-plus % increase within the ACV for that buyer. So, when you’ve got nothing and also you buy OIG, lifecycle, and workflows, it may be north of 40%. When you have workflows or lifecycle, possibly it is simply within the 30% vary. However I feel while you take a look at the guide of business and Workforce Id, the chance is to improve all of these prospects to incorporate OIG.So, that is how massive it’s. It is fairly important, fairly a lot of run fee, a run fee above the 100 million straight for OIG and the 400 whole you simply talked about.Brett Tighe — Chief Monetary OfficerAnd you consider one of the the reason why we’re additional specialised within the area, to your query about possibly going ahead, Grey, is to have the ability to get in there and deeper into accounts and be capable of do more of these upsells that Todd was simply speaking about, proper?Whether or not you began the fundamental bundle and transfer all the way in which up otherwise you already acquired a little bit of the more superior capabilities, the thought right here is to permit our reps to go in and be capable of promote some of these more superior capabilities as a result of that is actually a massive alternative for our prospects to unravel as many use instances as attainable.

Grey Powell — AnalystUnderstood. OK. Thanks.David Gennarelli — Senior Vice President, Investor RelationsOK. Let’s go to Saket Kalia at Barclays.Saket Kalia — AnalystOK. Nice. Hey, guys, thanks for taking my query right here and echo my congrats to the group. Todd, possibly for you, I used to be questioning in case you may dig into the Workforce Id suites that you just talked about at launch week.And possibly the query is, what are some of the suites that that we’re introducing? And how do you make that pricing packaging engaging to a buyer that wishes to proceed to consolidate id?Todd McKinnon — Co-Founder and Chief Government OfficerThe important half about it’s it is less complicated, and that is what’s engaging. It helps prospects perceive merely what they need to buy to achieve success. And the historical past of that is we monetize innovation through the years by, you already know, preserving the — we principally offered prospects the capabilities on the time. After which, as we added more capabilities, whether or not there’s multi-factor or lifecycle management, we added these as new SKUs or new merchandise.And so — and that was great as a result of they’d add more over time. However what you take a look at now could be simply in case you buy these issues, all a la carte, there’s a lot of them. And it is you already know, common listing, single sign-on, superior single sign-on, multi-factor occasions, it is a little bit difficult to buy. And so, we took a complete take a look at it, we stated, What are the outcomes prospects need to have?” Whether or not they need to simply get began, the workforce starter suite, after which, there’s the skilled suite, after which there’s the enterprise suite.It is principally good, higher, best, which means the — in order for you a full id material to cowl all of your use instances, from privilege to governance to menace safety to posture management, that is the enterprise. After which, you already know, if you wish to try this however with out the some of the more superior capabilities, more superior modules I talked about, you do the enterprise, after which the starter is simply the fundamental. So, it is simply simplicity and clarifying the — and a little bit making the shopping for course of less complicated for our prospects.

Saket Kalia — AnalystMakes sense. Thanks.David Gennarelli — Senior Vice President, Investor RelationsAnd subsequent up, we’ve got Shaul Eyal at TD Cowen.Shaul Eyal — AnalystThank you. Good afternoon. Congrats on the quarter and outlook. Thanks for the colour on OIG.Are you able to possibly define for us possibly in broad strokes the profile of OIG prospects? Are these new logos, current prospects? Are they more high-end enterprise or SMB-driven? Are they largely displacements or greenfield? Any shade could be drastically appreciated. Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerYeah, completely. So, I feel the — it is — the bulk of — the overwhelming majority of OIG prospects are upsells. They’ve entry management they usually add OIG. It is not 100%, nevertheless it’s close to 100%.There are a couple instances of new lands with OIG. However in each of these instances, they — the purchasers went with the total entry management suite fairly shortly after. So, yeah, you would nearly suppose of it as, what, my important level of the reply, which is I feel we’re transferring to this world the place that is a suite. And I talked in regards to the suites within the earlier reply.And the way in which prospects are eager about it’s I feel this concept that you will get governance from one vendor and privilege from one other and menace safety from one other is actually antiquated. And we’re transferring to this world the place there’s one id platform that may cowl all these use instances and attempt to increase your security outcomes by having all of it stitched collectively and take out level merchandise. That is the place we’re going. And so, I feel after we take into consideration innovating on the product, the product needs to be, of course, more — it needs to be higher than the opponents.

It needs to be higher than SailPoint. It needs to be higher than Saviynt. It needs to be higher than the opposite small — there’s a bunch of little start-ups on the market doing stuff right here — needs to be higher than all of these. However then it actually needs to be integrating with the remaining of our capabilities.So, you need to have the ability to have governance workflows on the credentials you vault in your — within the PAM product. It has to have governance workflows persistently throughout business purposes and servers and any form of useful resource you need to control by means of Okta. Your id security posture management has to have common visibility and inform you alerts about human identities that may be compromised or not set up appropriately throughout any system, any id supplier. However it additionally has to provide you notifications and up to date continually about nonhuman identities in a trendy means that then you’ll be able to then put these in a trendy protocol and vault these credentials with our privileged entry product.So, that is the thought. I stated earlier than and we noticed the development proceed, I have been — I did not suppose that — I did not suppose that people had been ever going to take out a governance system. That they had put in. I assumed this was like a bunch of prospects did not have one and that may be the chance right here.I have been stunned by the quantity of takeouts. It is nonetheless not large. There’s a lot of greenfield out of right here, and we’re having a lot of success there. However there are more takeouts than you’ll suppose, particularly in case you embrace the businesses that did not actually get that applied with.That is the key about some of these governance issues is that they had been software program, in order that they had been offered to massive license, they usually by no means acquired it applied. And that was form of like the seller was off doing one thing else now. However within the SaaS world, you actually need to make them profitable, and that is how we constructed our product to make sure that they are often profitable. You see — we see it within the knowledge, like, we must always release some of this knowledge, subsequent report possibly that — the time-to-value and the — how a lot utilization our prospects get out of our governance product in a short time is best within the industry.

Brett Tighe — Chief Monetary OfficerYeah, I’d simply add there — there are — along with what Todd was simply saying, there are side-by-side implementations as a result of that was half of your query. And we’re actually enthusiastic about these for a lot of causes as a result of we are able to — what Todd was simply speaking about, show worth to the client and earn the suitable for future flows or future alternatives or the suitable to take out that different one. And in case you bear in mind what made us massive at first was we did that with entry management. That was our play.We by no means went in entire hog and took all the pieces out. It was go show worth to the client and earn the suitable for the following factor. And so, we’re working a very related play with governance and simply the suite strategy that we’re working now, which is clearly exhibiting some traction with these numbers we simply produced.Shaul Eyal — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsAnd subsequent up, let’s go to Josh Tilton at Wolfe Analysis.Joshua Tilton — AnalystHey, guys. Thanks for sneaking me in right here, and I may also echo my congrats on an superior quarter. I feel possibly a high degree one for me. Naturally, I feel we form of gravitate to the workforce facet of the business as having this clear agentic AI alternative.However listening to you guys converse, it is fairly clear that you just guys have alternatives throughout each workforce and CIAM. I assume my query is, Todd, for you, like which facet of the business are you more enthusiastic about from an agentic AI perspective? And possibly which facet do you suppose will see a monetization alternative sooner and why? And you may’t inform me, you’ll be able to’t choose between your favourite children.

Todd McKinnon — Co-Founder and Chief Government OfficerYou all the time have a favourite, Josh. You all the time have a favourite. I feel the client id facet is more thrilling. I feel it is a little bit of a — my reply is a little bit of a — I am form of like having each methods as a result of a lot of the — while you discuss builders building agentic AI, they’re doing it inside of enterprises.So, just like the sample I used to be speaking about earlier there, there’s these groups and these firms which were tasked with — you already know, we hear about this agent factor make it work. And the very first thing they need to do is — I’ve had many conversations with prospects the place they have been in these discussions and we needed — we did a POC and now we’re apprehensive about doing it broadly. However the job was principally hook all the pieces up to our current — hook these brokers up to all of our current systems. And earlier than we may try this inside of enterprise, we had a good — need to — we needed to get a good id basis in entrance of all these items.And so, it is form of like just like you are building one thing and also you’re a developer. You are, you already know, exposing APIs. You are doing fine-grained authorization. You are taking — you are utilizing one other platform otherwise you’re building your own agentic AI platform, and also you’re having to speak to these systems and people APIs to do issues on person’s behalf.So, you are a developer, nevertheless it’s form of like a workforce use case. However I feel people building these systems and getting the benefit from that’s actually thrilling.David Gennarelli — Senior Vice President, Investor RelationsOK. Subsequent up, we’ve got Keith Bachman at BMO.Keith Bachman — AnalystHi. Thanks very a lot. I simply additionally need to congratulate particularly on the money move. It appeared actually spectacular and the information likewise.

Todd McKinnon — Co-Founder and Chief Government OfficerKeith, we had been Rule of 54 in This autumn.Keith Bachman — AnalystThat’s spectacular outcomes.Brett Tighe — Chief Monetary OfficerAnd I did — I simply need to say thanks, Keith, for noticing.Keith Bachman — AnalystYeah.Brett Tighe — Chief Monetary OfficerWe needed to do a bunch of inquiries to get to that 42%. That was a –Keith Bachman — AnalystYeah. Nicely, Todd was mentioning the gross sales power acquired effectively paid. I assume that, Brett, you are going to search for some of that as effectively primarily based on the money move. However transferring on to the query, the web retention fee was 107 this quarter.And I do know it is kind of a lagging indicator. However as we march by means of the yr, how are you simply eager about it directionally in phrases of what is the places and takes? And significantly, some of the issues that you just had been speaking about because it pertains to governance and a few of the upsell alternatives, it will appear to me that we’re listening to that you just’re gaining more, you already know, more tractions, so to talk, in governance so that may be a source of upside pressure as we progress by means of the yr and also you anniversary some of the headwinds. However simply speak a little bit in regards to the internet retention fee.Brett Tighe — Chief Monetary OfficerYeah, thanks, Keith, for that query. So, as you already know, we did count on it to go down into this vary —

Keith Bachman — AnalystYes.Brett Tighe — Chief Monetary OfficerOn the back of healthy gross retention. From right here, for the steadiness of FY ’26, what our fashions counsel is roughly on this vary, possibly plus or minus a level. And both direction actually relies on new business versus upsell combine. So, that is the place we’re seeing it for the steadiness of FY ’26.Keith Bachman — AnalystOK. All proper. Thanks very a lot.Brett Tighe — Chief Monetary OfficerNo drawback.David Gennarelli — Senior Vice President, Investor RelationsLet’s go to Roger Boyd at UBS.Roger Boyd — UBS — AnalystAwesome. I am going to echo my congrats as effectively. Brett, simply a fast one. You talked about, I feel, file gross sales productiveness within the quarter.Simply questioning how you are eager about go-to-market capability into fiscal ’26. And to what extent do you see an alternative to invest in behind some of that power, particularly as you consider form of the gross sales specialization from right here? Thanks.Brett Tighe — Chief Monetary OfficerYeah, we be ok with the capability the place it’s at present. We really feel we’re in a actually great spot. We need to make sure we discover that proper steadiness between having enough capability to grow as fast as attainable but additionally having a bunch of very productive reps. We do not need to get an excessive amount of in a single direction or the opposite.We need to make sure the porridge is good. So, we really feel good with the place we’re proper now.

David Gennarelli — Senior Vice President, Investor RelationsOK. Let’s transfer on to Rudy Kessinger at D.A. Davidson.Rudy Kessinger — AnalystHi, great. Thanks for taking my questions, guys. On the gross sales productiveness, may you simply discuss it relative to, I assume, the place you guys had been at pre-Auth0 integration, like the place you guys are working now? And what degree of productiveness positive aspects are you baking into the fiscal ’26 information? After which, again, I am going to add my congrats, very, very sturdy quarter right here, the cRPO growth acceleration, and so forth. Simply the power you noticed within the quarter, I do know Q1 is a smaller quarter, we’re solely a month into it, however have you ever seen that momentum proceed to this point in Q1, or simply what are you seeing quarter to this point?Brett Tighe — Chief Monetary OfficerYeah, in phrases of productiveness, it was actually good. I am unable to offer you a examine back to these timeframes, nevertheless it was actually good. We talked about multiyear high, actually happy with how issues got here out. In phrases of your query on Q1, look, I imply, like we talked about earlier, Q1s normally are seasonally lowest, and the rationale why is we’re getting accounts in the suitable locations, territories in the suitable locations, we’ve got our gross sales kickoff, so February would not sometimes offer an excessive amount of for us in phrases of data.And so, we clearly acquired a long methods to go for the quarter and are excited in regards to the quarter.Todd McKinnon — Co-Founder and Chief Government OfficerPeople had been very excited on the kickoff.Brett Tighe — Chief Monetary OfficerYeah, that is a good level.Todd McKinnon — Co-Founder and Chief Government OfficerI guess that is not nothing.David Gennarelli — Senior Vice President, Investor RelationsOK, I do know we’ve got a lot more arms raised, we’re on the high of the hour, however let’s attempt to take a few more right here. I am going to go to Kevin [Inaudible] from BofA, in for Madeline.Unknown speaker — — AnalystDavid, that was fairly good on your first time.David Gennarelli — Senior Vice President, Investor RelationsSorry.Unknown speaker — — AnalystTough final identify. Thanks. Thanks for taking my query. I assume I’ve two fast questions for you.

The primary one is, on this quarter, had been there any giant one-off offers that led to the outperformance, or did the setting actually inflect? After which, I assume my second query is wanting into the longer term. Are these trends that you just noticed in 1Q, are they sustainable, or what ought to we count on in order that the Avenue can form of reset their fashions going ahead?Brett Tighe — Chief Monetary OfficerYeah, I imply, I am going to take the primary half. And, Todd, you’ll be able to add in how you see match, which is we had a lot of massive offers. There wasn’t anybody single deal that was outsized relative to the remaining, however we had a lot of massive offers. That is why we gave you the stat of high 25 offers, over $320 million in whole contract worth.So, it goes back to actually all of the work we put in all through FY ’25, whether or not it’s a new product introduction, which we have talked about, enhancing companions, additional specializing the sector, doubling down on security. These are all issues that helped us construct towards this This autumn that was so profitable.Todd McKinnon — Co-Founder and Chief Government OfficerYeah, simply from a company, like a tradition and a management perspective, we’re right here to construct a giant, growing, important company. So, we count on more and more quarters like this. I feel, you already know, this was a blowout, so it is powerful to repeat this precisely, however that is the expectation we’ve got. We’re not right here to construct a slow-growing company.We’re right here to construct a company that is altering the industry and going to actually resolve this drawback of id security and help firms obtain their goals and free them to make use of any technology. So, that is what we’re obsessive about doing. And that is why we show up each day, working arduous attempting to do.

Unknown speaker — — AnalystGreat. Thanks, guys.David Gennarelli — Senior Vice President, Investor RelationsNext, we’ve got Peter Levine — Peter Levine.Peter Levine — AnalystThanks, guys. Possibly only one. You realize, what are you seeing in phrases of, like, the ratio of, like, nonhuman AI brokers to workers? And I ask as a result of I assume I need to perceive, like, the pricing model and, maybe, you already know, while you’re speaking to your prospects, what are they prepared to pay for? If it is 1 to five, or 1 to 40. Simply curious to know how you price that and, you already know, when do you suppose it’ll change into possibly agreed to your high line.Todd McKinnon — Co-Founder and Chief Government OfficerYeah. One of the issues that we do not have at present is the industry would not have a method to, like, establish an agent. I do not imply within the sense of, like, authenticating or validating an agent. I imply to really a common vernacular for how to file an agent and how to trace it and how to account for it.And so, I feel that is one thing you will see coming. You may see there will be truly a sort of account in Okta that is an agent account. You may see firms beginning to, once they buy software program, they are saying, “Hey, I buy these many people and this many agentic licenses.” And that is not fairly there but. After all, platforms which are popping out with agent variations have this to some degree, however there is not a common cross-company, cross-enterprise definition of an agent, which is an fascinating alternative for us, truly.We do know within the business at present, there’s a important quantity of — there’s considerably more machine-to-machine interactions. Neglect about brokers. There’s a lot of API calls and a lot of tokens and a lot of API entry management that is completed on the Auth0 platform and the Okta platform. And like I stated, I feel that is the machine half of that with brokers may increase by two orders of magnitude if the potential is that high.Peter Levine — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsGo to Matt Hedberg at RBC.Matthew Hedberg — AnalystGreat. Thanks, Dave, for the query. You realize, Todd, like I feel a lot of us are simply sitting back right here form of seeing all of the alternatives that you just guys have right here. And the questions that I am getting from my inbox is like there’s a lot that we are able to take into consideration in phrases of fiscal ’26 and past.

And again, it is form of getting back to the query of choosing your favourite baby. However, you already know, between like all of the catalyst that you have going right here, we’re sitting right here 12 months from now.Todd McKinnon — Co-Founder and Chief Government OfficerLarge enterprise.Matthew Hedberg — AnalystLarge enterprise success. OK.Todd McKinnon — Co-Founder and Chief Government OfficerYeah, sorry, I did not imply to cut you off, however I feel the reply is so clear in my thoughts. Nicely, as I work on these massive transformative offers with these prospects, it is simply totally different than it was a yr in the past and two years in the past. You’ll be able to see the merchandise are there, you’ll be able to see the patrons are prepared, you’ll be able to see the companions. I work on these massive offers with these world systems integrators, they usually’re turning their entire practices to security and to trendy id.They’re completed with the entire — they’re completed with the entire, you already know, we’ll set up software program to handle your id. That is out. They need a cloud answer, and we’re the one recreation on the town. Until you need to go along with Microsoft and simply form of wrap your complete company up in a single company, which none of these giant enterprises can do.I discussed this world technology company, they’ve an E5 license. So, Microsoft has licensed to them each id product they’ve. Did not matter as a result of they don’t seem to be going to wind their entire future round Microsoft. They’ve three infrastructure clouds.They’ve these firms, the complexity and the expanse of what their id challenges are as far past what one company that is not targeted on it may do, and we’re the one recreation on the town. We’re cloud model. We’ve all of the components of the suite. So, yes, after we’re speaking in a yr, if I am off to one thing and never giant enterprise, then you’ll be able to call me on it.

Matthew Hedberg — AnalystGot it. Thanks a lot. Greatest of luck.Brett Tighe — Chief Monetary OfficerYeah. I’d simply add to that, Matt, within the sense of I take into consideration what we informed you in all probability 4 or 5 quarters in the past. There are 4 issues we’ll work on. Safety, new merchandise, companions, additional specializing.We’ll keep engaged on all these issues as a result of that is what — that is what is going to drive what Todd simply talked about. So, it labored in This autumn. We imagine these are the suitable vectors of growth for us. We are going to proceed to do these issues to have the ability to seize the chance as fast as attainable.Matthew Hedberg — AnalystThanks, guys.David Gennarelli — Senior Vice President, Investor RelationsLet’s go to Patrick Colville at Scotiabank.Patrick Colville — AnalystCheers, Dave, and thanks for taking my query right here. So I assume, let me simply sneak two quickies in. I imply, if I look back at this quarter and final, the cRPO beats have gotten considerably bigger. And also you stated this was a blowout quarter, however I assume, how ought to we take into consideration the steerage philosophy, Brett, for cRPO beats heading into 2025? After which, Todd, I assume only for you, most of your ready remarks had been truly in regards to the workforce business, however the disclosure you guys give round form of ACV growth, you already know, it appeared like truly buyer id was the actual power in 4Q with ACV growing 16%.So, I assume simply speak to us about like why do you sound so pumped within the ready remarks about workforce when it looks like the client business is definitely what’s actually form of the rocket ship proper now?Brett Tighe — Chief Monetary OfficerI’ll take the primary, which is across the steerage philosophy. Like we talked about final time, final quarter, we talked about lowering the extent of conservatism within the model. Now, we had a blowout quarter. I can solely accomplish that a lot, and we’ll close as a lot business as we probably can.

If it blows up the steerage philosophy on this state of affairs, I am comfortable to have that drawback. However you’ll be able to see the steerage philosophy in motion within the sense that we had a very giant quarter, and also you see the income growth going up by a very important quantity, going from 7% to 10%, a raise of $80 million, and we’re giving it to you proper there. So, in different phrases, no matter that upside, that massive upside you simply noticed, you are seeing it mirrored in our steerage instantly. So, that’s going to be our strategy going ahead and our philosophy going ahead.And I am going to let Todd speak in regards to the growth charges.Todd McKinnon — Co-Founder and Chief Government OfficerYes, I feel each Auth0 and Okta had actually sturdy quarters. The Auth0 quarter was the largest ever. So I do not — my remarks possibly weren’t correct within the sense that I need to mirror the power in each of these respective companies that I labored very carefully. I’ve talked about a few instances on the call this Fortune 500 tech company was a massive workforce deal.I additionally labored on a name-brand world food and beverage company that purchased Auth0 to be the entrance door login for his or her complete cellular app, which has large quantity. So, there’s success on each side. And I feel, you already know, it offers us a range within the business that’s actually highly effective, actually offers us that seat of the desk to help prospects with these strategic issues, it offers us credibility, it offers us scale. I imply, after we speak in regards to the money move and the Rule of 54 and the over $700 million of money generated final yr, it is as a result of of the dimensions.I imply, we spent 16 years building this business that has amazingly loyal, comfortable prospects. So, it offers us the chance to supply — you already know, do all of the work we have completed in security and do all of the product innovation on the similar time, producing a lot of money. So it is a good place to be in going ahead.Patrick Colville — AnalystOK. Thanks.David Gennarelli — Senior Vice President, Investor RelationsTrying to get by means of 5 questions right here over the following seven minutes. So, we’ll go to Mike Cikos at Needham.

Mike Cikos — AnalystGreat. Thanks for taking the questions, guys, and congrats on the quarter from our finish as effectively. Two-parter right here, however first on the OIG. Simply needed to make sure we’re all going to be working our numbers now on the $100 million in ACV versus the 1,300 buyer rely.If we’re, call it, about 75,000 per buyer, does that — is that a truthful evaluation of what prospects are paying you at the moment for OIG? Or is that skewed by any of your energy prospects like the large energy customers –Todd McKinnon — Co-Founder and Chief Government OfficerNo, I feel that is a good — that is a good average. That is a good average. Sure. I imply, clearly, there’s some massive ones and a few small ones, nevertheless it’s good average.Mike Cikos — AnalystAnd then, the second piece is the AWS debt that we acquired at present, stable growth. If I am working the numbers on my facet, is that now north of 10% of Okta’s ACV? Have we breached that threshold but?Brett Tighe — Chief Monetary OfficerIt’s a better growing share. It’s undoubtedly, as you noticed the 80% income growth in FY ’25,

Mike Cikos — AnalystYeah.Brett Tighe — Chief Monetary OfficerI imply, it is undoubtedly getting massive now, which is one of the the reason why we’re so enthusiastic about it, whereas we’re one of the companions of the yr — we had been the accomplice of the yr. And so, yeah, we’re enthusiastic about that chance as half of the 4 that we have talked about, proper? It is beneath the partnership umbrella that we talked about all through this call.Mike Cikos — AnalystExcellent. Thanks, guys.David Gennarelli — Senior Vice President, Investor RelationsYes, let’s go to Fatima Boolani at Citi.Fatima Boolani — AnalystThank you very a lot for squeezing me in. Todd, I needed to go back to one thing you talked about almost about launch week, the place there was a devoted CIAM product now for the U.S. public sector. So, you gave us a lot of good causes to understand why you will not be kind of victimized by, you already know, the DOGE efforts and mandates, and that is fairly compelling –Todd McKinnon — Co-Founder and Chief Government OfficerThe effectivity has no sufferer. Effectivity –Fatima Boolani — AnalystAnd so, simply almost about the chance for the client identity-centric options, do you largely see that as a greenfield alternative? I imply, actually, we’re massive shoppers, and myself — I am a massive client of authorities companies. So, what does that chance appear like at present between DIY, you already know, and/or different form of business opponents? And why proceed to double down on investments –Todd McKinnon — Co-Founder and Chief Government OfficerYes. It is a — I imply it is a large market, and it is — we have seen success within the business. We did the ACV growth charges. We launched ACV growth charges.It is — the ACV growth is quicker than the workforce business at 16%, I imagine, was the ACV stat we launched. And I feel it is — I feel in case you go back the final three years, you’ve got completed great work following for a few years now. And I feel what you are seeing now could be nearly form of a resurgence of the workforce business in our own minds and our own psychologies. For a long time, we thought that this buyer alternative is so massive, so large, let’s concentrate on that, and possibly let’s not focus as a lot on the workforce business.

I feel what you are seeing is us realizing that business is massive as effectively. And with the security initiatives and how id is actually the center of security lately and how it’s a must to have id in place to get good security outcomes, I feel you see us speaking about that more. However that does not belong to the truth that whether or not it is governments or whether or not it is tech firms, SaaS firms, whether or not it is firms in different industries, you already know, this infrastructure and how they authenticate customers. And, you already know, we are the — one other massive deal in This autumn was, you already know, we are the by far the chief in authenticating the chatbots.So, we principally have all of the main chatbots on the market, even from some prospects that some massive firms which may have competing applied sciences with us on the workforce facet. We are the authentication now for all their chatbots. So, the chance on that facet is massive and important, and we’re attempting to seize each of them.Fatima Boolani — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsOK. Let’s go to Brian Essex at JPMorgan.Brian Essex — AnalystHi. Good afternoon. Thanks for taking the query. Nice to see the monster acceleration on RPO and good acceleration on cRPO as effectively.I feel, Brett, final quarter, on our call back, you famous that half of the rationale for this sort of like disparity within the growth fee between the 2 is that you just shifted otherwise you, I assume, enhanced incentive to promote longer length contracts. So, clearly, if it is not broke, do not repair it. However possibly for Todd, are you able to help us perceive what some of the conversations with enterprises are like there with regard to these longer-term contracts? What are their incentives? And how a lot visibility does this offer you form of in cRPO acceleration, for instance, as these longer-duration contracts amortize into the present class?Todd McKinnon — Co-Founder and Chief Government OfficerYeah. The conversations are — I feel it is a signal of the displacements, like how many merchandise they’re displacing. They notice that if they are going to guess on a vendor that is going to switch 10, 15, actually 25, 30 merchandise. It is loopy how many id merchandise these massive firms have.

In lots of instances, it is the identical product in a number of divisions, or it is the identical, you already know, infrastructure custom-made other ways. So when you will have that sort of dialog, Brian, they are much more apt to signal up for a long run simply because, give it some thought, they’ve a massive GSI they usually’re eager about changing they usually have a multiyear timeframe, they usually’re — it is just like the mindset upfront is like that is a strategic platform versus one other factor that may be more tactical, and, hey, we’ll come into a yr, and we’ll see what it is like. And I feel that is the largest factor I might call on the market.Brian Essex — AnalystGot it. That is useful. Thanks.David Gennarelli — Senior Vice President, Investor RelationsOK. Peter Weed at Bernstein.Peter Weed — AnalystHey, thanks a lot, and congrats on the continued progress. I am clearly actually excited like many people round possibly the expansive alternative that sort of agentic id offers. You realize, I feel at present within the market, it is in all probability modestly adopted as an alternative. You realize, I feel you are already seeing actually great traction.While you form of look ahead on the pipeline of buyer demand for this and the place this might get to, you already know, how materials may the dimensions of this be relative to the quantity of employees that you just cowl or these sorts of issues after we begin to consider attainable right here?Todd McKinnon — Co-Founder and Chief Government OfficerI suppose it is — it might be large. And I feel we are able to doubtlessly — we’ve got more work to do and speak — we have to provide you people more particulars about our plans there, and we’ll try this, however we’ve got our showcase occasion coming up in April. We’ll speak more about this. However we are able to monetize it on “both sides,” which means, people building the brokers and people utilizing the brokers, you already know, the brokers need to log in, they usually need to log in to one thing.So, I feel it is potential to monetize it on each side. However no matter we do right here, I feel it is going to be like all the pieces we do. It’ll be pre-integrated, it is going to be throughout all totally different varieties of technology. It is not going to be tied up to 1 cloud or one app or one collaboration device or one chatbot, it is going to be very impartial and unbiased.

I feel that is what prospects need.Peter Weed — AnalystThank you.David Gennarelli — Senior Vice President, Investor RelationsAnd we’ll wrap issues up with Andy Nowinski at Wells Fargo.Andrew Nowinski — AnalystGreat. Thanks for squeezing me in. Todd, I feel your feedback on the significance of a platform is like an itch that prospects have had for a few years however may by no means scratch. So, it is smart that you just’re seeing, you already know, prospects gravitate towards this platform.However after we take a look at the new elements of that platform, OIG and PAM, it does look like these are possibly more giant buyer instruments. I am simply questioning in case you suppose, you already know, the OIG and PAM options are relevant to your complete put in base. Or are they more focused at these bigger prospects? And similar factor on the platform sale. Is that more of a giant buyer deployment?Todd McKinnon — Co-Founder and Chief Government OfficerI suppose that is the — I feel that is the rationale — I do not suppose that impression is correct. And I feel the rationale why people have that misimpression is that the PAM market and governance market, the merchandise had been so arduous to put in and configure and put on-premise, that is why giant firms used them. I feel now that we have made it really easy and built-in and accessible, I feel that is why you are going to see this greenfield alternative actually blossom. It’s extremely related like Brett was saying earlier, that is how we did entry management.After we began Okta, it was like, oh, we’ll simply make it very easy for smaller firms which are adopting a bunch of SaaS apps. They usually went to hook it up to energetic listing on-prem, make it tremendous straightforward. After which, you already know, you’re employed actually arduous for 5 years and 7 years and 10 years, and fairly quickly, it is such as you actually end up someplace. And I feel we’ll see the identical factor right here the place we’ll work arduous on this.

We have been at it for actually three and half years now, persistently engaged on it, staying utilized, not get distracted. The group is cranking, prospects driving success, and you are going to see the identical factor blossom right here on this unified platform over the following few years.Andrew Nowinski — AnalystThanks.David Gennarelli — Senior Vice President, Investor RelationsExcellent. Thanks for everyone’s endurance, and recognize you going together with us right here. Earlier than we go, I simply need to let buyers know that along with internet hosting onsite digital bus shops, we’ll be attending the Morgan Stanley convention in San Francisco this Wednesday, KeyBanc tech convention in San Francisco this Wednesday as effectively, the Susquehanna digital convention on Thursday, March sixth, the Evercore Cybersecurity Summit in New York Metropolis on April 1st, and the Wells Fargo Software program Symposium in Menlo Park right here in California on April tenth. So, we hope to see you at one of these occasions, and we’ll speak to you then.Thanks.Todd McKinnon — Co-Founder and Chief Government OfficerThanks, everybody.Length: 0 minutesCall contributors:David Gennarelli — Senior Vice President, Investor RelationsTodd McKinnon — Co-Founder and Chief Government OfficerBrett Tighe — Chief Monetary OfficerDave Gennarelli — Senior Vice President, Investor RelationsJohn Difucci — AnalystJohn DiFucci — AnalystEric Heath — AnalystBrad Zelnick — AnalystJoseph Gallo — AnalystJoe Gallo — AnalystGabriela Borges — AnalystAdam Borg — AnalystJonathan Ho — AnalystIttai Kidron — AnalystShrenik Kothari — AnalystGray Powell — AnalystSaket Kalia — AnalystShaul Eyal — AnalystJoshua Tilton — AnalystKeith Bachman — AnalystRoger Boyd — UBS — AnalystRudy Kessinger — AnalystUnknown speaker — — AnalystPeter Levine — AnalystMatthew Hedberg — AnalystMatt Hedberg — AnalystPatrick Colville — AnalystMike Cikos — AnalystFatima Boolani — AnalystBrian Essex — AnalystPeter Weed — AnalystAndrew Nowinski — AnalystAndy Nowinski — AnalystMore OKTA analysisAll earnings call transcriptsThis article is a transcript of this convention call produced for The Motley Idiot. Whereas we try for our Silly Greatest, there could also be errors, omissions, or inaccuracies on this transcript. As with all our articles, The Motley Idiot doesn’t assume any accountability on your use of this content material, and we strongly encourage you to do your own analysis, together with listening to the call your self and studying the company’s SEC filings. Please see our Phrases and Circumstances for added particulars, together with our Compulsory Capitalized Disclaimers of Legal responsibility.
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