종합 밸류에이션 구간 · 보수적 $72–$78 / 적정 $120–$145 / 낙관적 $165–$190. $137.43 기준, 적정 내재가치 구간 내.
보고서 발행 시 $116.27（2026년 6월 17일）
데이터 제공: EODHD, 보고 통화 기준 표시. 참고용일 뿐 투자 자문이 아닙니다.
Okta, Inc. operates as an identity partner in the United States and internationally. It offers Single Sign-on to secure access to cloud and on-premises applications from any device; Adaptive MFA for a risk-based layer of security for an organization's cloud, mobile, and web applications; API Access Management, which enables organizations to secure APIs as systems; Access Gateway, which extends the Okta platform to hybrid IT environments; Okta Device Access, which extends Okta platform's secure access management to the device login experience; Universal Directory for a cloud-based system of record. The company also provides Identity Threat Protection; Identity Security Posture Management for security measures and safeguards digital assets; Okta for AI Agents to discover, register, authenticate, govern, and manage AI Agents; Identity Governance and Administration products, including Lifecycle Management, Okta Workflows, Okta Identity Governance, and Cross App Access; Advanced Server Access for continuous and contextual access management to secure cloud infrastructure; and Okta Privileged Access to reduce risk with unified access and governance management. In addition, it provides Universal Login, a standards-based login infrastructure; Attack Protection Suite to minimize risks associated with identity-targeted attacks; Adaptive MFA; Passwordless, which enables users to login without a password; Machine-to-Machine Tokens for authentication and authorization with NHIs; Private Cloud, a deployment option; Organizations, which support a large number of partners or customers; Extensibility, which enables customers to build customized identity flows; Fine Grained Authorization, which manages complex authorization scenarios; and Auth0 for AI Agents to secure and scale agentic applications. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
연혁
Okta, Inc. was founded in 2009 by Todd McKinnon and Frederic Kerrest, who believed cloud computing would rewire the enterprise stack and make identity the practical bottleneck to adoption; the company was formerly known as Saasure, Inc. and is headquartered in San Francisco, California. It was built as an operating layer between users and technology, designed to be independent of any proprietary software stack, and had more than 5,000 integrations by early 2017, backed by investors including Sequoia, Greylock, Andreessen Horowitz, and Khosla Ventures. Okta went public on Nasdaq in April 2017 under the ticker OKTA, selling 11 million Class A shares at $17 and raising about $187 million, for an implied equity value of roughly $1.5 billion on a post-offer basis; by January 31, 2017 it had over 2,900 customers and more than 5,000 integrations. In March 2021 Okta announced the acquisition of Auth0 for about $6.5 billion in stock (closed May 2021), expanding it from a primarily workforce-identity vendor into customer-identity and developer reach, and in September 2025 it acquired Axiom Security for $54 million in cash, adding cloud-native privileged-access capabilities. By January 31, 2026 the company had more than 20,000 customers, including 5,100 with annual contract value above $100,000; FY2026 revenue was $2.919 billion (up 12%), operating cash flow was $884 million, and GAAP net income turned positive at $235 million, while goodwill stood at $5.487 billion.
업계 내 위치
Okta is the largest public independent identity-security vendor, operating as an identity control-plane company that sells subscriptions determining who gets access, under what conditions, to which applications, databases, APIs, devices, and increasingly software agents. The business spans two product surfaces, the Okta Platform for workforce identity (single sign-on, adaptive MFA, lifecycle management, device and application access) and the Auth0 Platform for developer-centric customer identity, with an attach layer of governance, privileged access, identity security posture management, authorization, and AI-agent controls; it reports as a single operating segment, and in FY2026 subscription revenue was $2.855 billion of $2.919 billion total, with subscription revenue at roughly 97% to 98% of the total. Its moat sources are switching cost (identity sits deep inside authentication flow, user lifecycle, application provisioning, and policy logic), ecosystem neutrality and integration breadth across many clouds and applications, and product adjacency that makes governance and privileged-access modules natural attach candidates. Okta competes with Microsoft Entra in workforce identity, SailPoint in identity governance, CyberArk (acquired by Palo Alto Networks) in privileged access, and CrowdStrike in identity-adjacent threat detection and non-human identity security. The company has a dual-class share structure in which Class A carries one vote and Class B carries ten votes, concentrating voting control with pre-IPO holders.