Okta's Trading Volume Surges 151% to $30.92 Billion Ranking 16th in Daily Market Activity

On May 28, 2025, Okta's trading volume reached $30.92 billion, marking a 151.46% increase from the previous day and ranking 16th in the day's stock market activity. However, Okta's stock price fell by 16.16%.

Okta reported a 12% year-over-year increase in total revenue for the first quarter of fiscal 2026, reaching $688 million. Subscription revenue also grew by 12% year-over-year, totaling $673 million. The company's remaining performance obligations (RPO) increased by 21% year-over-year to $4.084 billion, with current remaining performance obligations (cRPO) growing by 14% year-over-year to $2.227 billion. Okta achieved record GAAP and non-GAAP operating profitability, with an operating cash flow of $241 million and free cash flow of $238 million.

Okta's Chief Executive Officer and co-founder, Todd McKinnon, highlighted the company's strong start to fiscal 2026, emphasizing record operating profit and robust free cash flow. He noted that major organizations continue to rely on Okta for identity security solutions across workforces, customers, and AI use cases. The company remains focused on driving profitable growth, accelerating innovation, and delivering a modern, unified identity security platform.

For the second quarter of fiscal 2026, Okta expects total revenue to range from $710 million to $712 million, representing a 10% year-over-year growth rate. The company anticipates current RPO to be between $2.200 billion and $2.205 billion, reflecting a 10% to 11% year-over-year growth rate. Non-GAAP operating income is projected to be between $183 million and $185 million, with a non-GAAP operating margin of 26%. Non-GAAP diluted net income per share is expected to be between $0.83 and $0.84, assuming diluted weighted-average shares outstanding of approximately 186 million and a non-GAAP tax rate of 26%. The non-GAAP free cash flow margin is anticipated to be approximately 19%.