By Katherine Hamilton

Okta posted higher fourth-quarter profit and revenue but expects growth to slow in the new fiscal year.

The identity management and security company on Wednesday posted a profit of $63 million, or 35 cents a share, up from $23 million, or 13 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 90 cents, ahead of the 85 cents anticipated by analysts, according to FactSet.

Fourth-quarter revenue rose 11% to $761 million. Analysts surveyed by FactSet forecast revenue of $749.5 million.

AI has created an increased need to secure agents, which Okta is able to do, Chief Executive Todd McKinnon said.

In the first quarter, Okta expects revenue of $749 million to $753 million and adjusted earnings per share of 84 cents to 86 cents. Those figures would be below Wall Street estimates of $754.9 million for revenue and 87 cents a share in adjusted earnings.

For the full year, the company expects revenue of $3.17 billion to $3.19 billion, with adjusted earnings per share of $3.74 to $3.82. Analysts were projecting $3.17 billion in annual revenue and $3.66 a share in adjusted earnings.

Okta's expected sales growth rate is 9% for the new fiscal year, down from 12% in the previous year.

Okta said one percentage point was shaved off its annual revenue outlook because it decided to accelerate the shift of its professional services business to partners. The change is expected to create a headwind to professional services revenue.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 04, 2026 16:02 ET (21:02 GMT)

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