Slide 1: Q4 & FY25 Investor Presentation
Q4 & FY25 Investor Presentation March 3, 2025 © Okta and/or its affiliates. © OktaAlland/or affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. rightsitsreserved.
Slide 2: Safe Harbor
Safe Harbor This presentation contains "forward-looking statements" within we may fail to maintain strategic partnerships to promote or the meaning of the "safe harbor" provisions of the Private enhance our solutions; we may experience challenges Securities Litigation Reform Act of 1995, including b
Slide 3: Agenda
Agenda 01 Company Overview 02 Q4 FY25 Financial Review 03 Q1 FY26 & FY26 Financial Outlook 04 Appendix © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 3
Slide 4: Company Overview
Company Overview © Okta and/or its affiliates. All rights reserved. 4
Slide 5: © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For
© Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only.
Slide 6: Okta at a Glance
Okta at a Glance Total Revenue 15% CAGR from FY23- FY26(3) 19,650 $2,850 - $2,860(2) Total customers $2,610 $4.215B $2,263 ($ in mil.) Remaining performance obligations (RPO) $1,858 107% TTM Dollar-based net retention rate(1) at January 31, 2025 (1) Trailing Twelve Months (TTM) dollar-based net rete
Slide 7: FY26 Priorities
FY26 Priorities Elevate the Win IT & Win Industry Security Developers with OSIC (1) with Okta with Auth0 (1) Okta Secure Identity Commitment © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 7
Slide 8: Okta Secure Identity Commitment
Okta Secure Identity Commitment To lead the industry in the fight against identity attacks Provide market- Harden our Champion Elevate our leading secure corporate customer best industry to be identity infrastructure practices to help more protected products and ensure they are from identity service
Slide 9: Identity is the critical foundation for connection and trust between users and technology
Identity is the critical foundation for connection and trust between users and technology Cloud Security Digital transformation © Okta and/or its affiliates. All rights reserved. 9
Slide 10: Every C-suite leader needs identity
Every C-suite leader needs identity CMO, CDO, digital teams CEO CTO, app dev teams Business acceleration Frictionless Unifying User Conversion onboarding identity management Identity CPO, product team CIO, CISO, IT, security teams CFO Creating Security and Omnichannel Engagement trust privacy access
Slide 11: Okta Workforce Identity and Customer Identity products
Okta Workforce Identity • Identity Governance • Privileged Access • The Auth0 Platform • Fine Grained Device Access • Identity Security Authorization • Highly Regulated Posture Management • Identity Identity • Self Service Threat Protection with Okta AI • Okta Customer Identity © Okta and/or its aff
Slide 12: One Unified Identity Solution
One Unified Identity Solution Access Management Privileged Identity Access Governance © Okta and/or its affiliates. All rights reserved. 12
Slide 13: Strong momentum with Okta Identity Governance
Strong momentum with Okta Identity Governance 1,300+ customers & $100M+ in ACV(1) In two years, OIG has become one of the leading modern governance solutions in the market (1) As of Q4 FY25 © Okta and/or its affiliates. All rights reserved. 13
Slide 14: Okta's unique multilayered approach to identity security
Okta’s unique multilayered approach to identity security © Okta and/or its affiliates. All rights reserved. 14
Slide 15: $80B TAM
We are here Okta’s Opportunity $80B * TAM *See Appendix for TAM calculation methodology. Figure not drawn to scale. © Okta and/or its affiliates. All rights reserved. 15
Slide 16: Multiple Growth Vectors
Multiple Growth Vectors Innovation in platform Landing and expanding Leveraging partner International expansion and network in large enterprise ecosystem © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 16
Slide 17: Okta is the Superior Choice vs. Microsoft - Every Time
Okta is the Superior Choice vs. Microsoft - Every Time Enterprise Agility Reliability & Ease of Use & Time to Executing on Identity Depth of Integrations Mitigate Commercial (Okta for Global 20001) Performance Value Challenges (IPSIE-enabled32Shared and Operational Risk (Unified Security Signals3 &
Slide 18: Q4 & FY25 Financial Review & Financial Outlook
Q4 & FY25 Financial Review & Financial Outlook © Okta and/or its affiliates. All rights reserved. 18
Slide 19: Q4 FY25 Financial Highlights
Q4 FY25 Financial Highlights Q4 FY25 vs. Q4 FY24 Total Revenue $682M + 13% Subscription Revenue $670M + 13% Remaining Performance Obligations (RPO) $4,215M + 25% Current Remaining Performance Obligations (cRPO) $2,248M + 15% TTM Dollar Based Net Retention Rate 107% - 4 pts Non-GAAP Gross Margin(1) 8
Slide 20: Total Revenue Up 13% Y/Y; Subscription Revenue Up 13% Y/Y
Total Revenue Up 13% Y/Y; Subscription Revenue Up 13% Y/Y Quarterly Revenue(1) $682 ($ In Millions) $665 $646 $617 $605 $584 $556 $510 $518 $481 $452 $415 98% 98% 98% 98% 98% 97% 97% 97% 97% 97% 96% 96% 4% 4% 3% 3% 3% 3% 3% 2% 2% 2% 2% 2% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY
Slide 21: cRPO is a Leading Indicator for Future Subscription Revenue
cRPO(1) is a Leading Indicator for Future Subscription Revenue cRPO (subscription backlog Quarterly Bookings ≤ 12 months) New Customers Dollar amount added to cRPO is impacted Future Upsells(2) by factors such as the cRPO moves to subscription Components that number of customers, quarterly revenue i
Slide 22: RPO Up 25% Y/Y; Current RPO Up 15% Y/Y
RPO Up 25% Y/Y; Current RPO Up 15% Y/Y Quarterly RPO $4,215 ($ In Millions) $3,659 $3,505 $3,385 $3,364 $3,027 $3,073 $1,967 $3,007 $2,942 $2,790 $2,853 $2,710 $1,597 $1,510 $1,432 $1,415 $1,255 $1,248 $1,323 $1,241 $1,274 $1,294 $1,297 $2,248 $1,952 $1,949 $1,995 $2,062 $1,701 $1,772 $1,826 $1,579
Slide 23: TTM Dollar-based Net Retention Rate
TTM Dollar-based Net Retention Rate TTM Dollar-based net retention rate (1) 123% 122% 122% 120% 117% 115% 115% 111% 111% 110% 108% 107% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 (1) Trailing Twelve Months (TTM) dollar-based net retention rate is
Slide 24: Strong Non-GAAP Gross Margins
Strong Non-GAAP Gross Margins Non-GAAP Gross Margins (1) 82.8% 83.5% 83.5% 83.6% 83.2% 83.5% 80.5% 81.6% 81.5% 81.7% 81.4% 81.8% 80.4% 77.6% FY23 FY24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 (1) See appendix for non-GAAP reconciliation. Total Gross Margin Subscription Gross Margin © Okta and/or its aff
Slide 25: Efficiency and Reduced Cost Structure Yielding Significant Margin Improvement
Efficiency and Reduced Cost Structure Yielding Significant Margin Improvement Non-GAAP Operating Margin(1)(2) 25% 22.5% 13.7% (0.5)% FY23 FY24 FY25 FY26E (1) See appendix for non-GAAP reconciliation. (2) FY26E is based on the midpoint of our FY26 outlook as of March 3, 2025. © Okta and/or its affili
Slide 26: Efficiency and Reduced Cost Structure Yielding Significant Margin Improvement
Efficiency and Reduced Cost Structure Yielding Significant Margin Improvement 28.0% Non-GAAP Free Cash Flow Margin(1)(2) ~26% 21.6% 3.5% FY23 FY24 FY25 FY26E (1) See appendix for non-GAAP reconciliation. (2) FY26E is based on the midpoint of our FY26 outlook as of March 3, 2025. © Okta and/or its af
Slide 27: 19,650 Total Customers
19,650 Total Customers Up 4% Y/Y Total Customers 19,650 19,650 19,450 19,300 19,100 18,950 17,600 FY23 FY24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 27
Slide 28: Customers With >$100K Annual Contract Value
Customers With >$100K Annual Contract Value Up 7% Y/Y Customers with >$100k ACV 4,800 4,800 4,705 4,620 4,550 4,485 3,930 FY23 FY24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 28
Slide 29: Key Takeaways
Key Strong foundation for growth at scale Takeaways Large addressable markets with multiple growth vectors Positioned for profitable growth © Okta and/or its affiliates. All rights reserved. 29
Slide 30: Financial Outlook for Q1 FY26
Financial Outlook(1) for Q1 FY26 Q1 FY26 (April 30, 2025) Total Revenue $678M to $680M Total Revenue Growth (Y/Y) 10% Current Remaining Performance Obligations $2,185M to $2,190M cRPO Growth (Y/Y) 12% Non-GAAP Operating Income $168M to $170M Non-GAAP Operating Margin 25% Non-GAAP Diluted Net Income
Slide 31: Financial Outlook for FY26
Financial Outlook(1) for FY26 Fiscal 2026 (January 31, 2026) Total Revenue $2,850M to $2,860M Total Revenue Growth (Y/Y) 9-10% Non-GAAP Operating Income $705M to $715M Non-GAAP Operating Margin 25% Non-GAAP Diluted Net Income Per Share $3.15 to $3.20 Diluted Weighted Average Share Count(2) 186 milli
Slide 32: Appendix
Appendix © Okta and/or its affiliates. All rights reserved. 32
Slide 33: Total Addressable Market Calculation Methodology
Total Addressable Market Calculation Methodology Workforce Identity and Identity Governance and Administration (IGA) TAM based on over 50,000 U.S. businesses with more than 2 50 employees (per 2019 U.S. Bureau of Labor Statistics) multiplied by 12-month ARR assuming adoption of all our current produ
Slide 34: Sources: Okta Advantage
Sources: Okta Advantage 1 Okta for Global 2000 16 90% of Okta admins use MFA 2 New enhancements to the Workforce Identity Cloud's unified security solution 17 Okta Recognized as a Customers’ Choice for Access Management 5X in a row announced at Oktane 2024 18 Gartner Critical Capabilities for Access
Slide 35: Statement Regarding Use of Non-GAAP Financial Measures
Statement Regarding Use of Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures and other metrics. This appendix contains our reconciliation of those non-GAAP measures and other financial metrics. This presentation may reference one or more of the following non-
Slide 36: GAAP to Non-GAAP Reconciliations - Fiscal Quarters
GAAP to Non-GAAP Reconciliations - Fiscal Quarters(1) (dollars in millions) © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 36
Slide 37: GAAP to Non-GAAP Reconciliations - Fiscal Quarters
GAAP to Non-GAAP Reconciliations - Fiscal Quarters(1) (dollars in millions) © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 37
Slide 38: GAAP to Non-GAAP Reconciliations - Fiscal Quarters
GAAP to Non-GAAP Reconciliations - Fiscal Quarters(1) (dollars in millions) © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 38
Slide 39: GAAP to Non-GAAP Reconciliations - Fiscal Quarters
GAAP to Non-GAAP Reconciliations - Fiscal Quarters(1) (dollars in millions, shares in thousands, except per share data) © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient’s Internal Use Only. 39
Slide 40: Calculations of Key and Other Selected Metrics - Fiscal Quarters
Calculations of Key and Other Selected Metrics - Fiscal Quarters(1) (dollars in millions, except headcount data) (1) Amounts reported in millions are rounded based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in mill
Slide 41: © Okta and/or its affiliates. All rights reserved.
© Okta and/or its affiliates. All rights reserved.