Okta's backlog reaches $4B due to high demand for security products

From Nasdaq: 2025-06-12 12:02:00

Okta’s Remaining Performance Obligations (RPO) surged to $4.084 billion in Q1 of fiscal 2026, a 21% increase YoY, with current RPO at $2.23 billion, up 14% YoY. Strong demand for new products like Identity Governance and Privileged Access drives growth, projecting 10-11% current RPO growth for Q2.

Facing competition from CyberArk and Microsoft, Okta must navigate the evolving landscape of identity and access management. CyberArk excels in Privileged Access Management, while Microsoft’s Entra ID offers a fully integrated solution, challenging Okta’s market position.

Okta’s stock performance shows a 27.7% YTD increase, trading at a premium with a forward P/CF ratio of 23.83. Estimated 2026 revenues stand at $2.86 billion, with a Value Score of D. With a Zacks Rank #2, Okta remains a strong player in the security industry.



Read more at Nasdaq: Okta’s Backlog Tops $4B on Strong Identity Security Demand