Okta (NasdaqGS:OKTA) Q4 2026 Earnings call March 04, 2026 05:00 PM ET Company ParticipantsBrett Tighe - CFOBrian Essex - Executive Director and U.S. Software Equity ResearchDave Gennarelli - Senior Vice President of Investor RelationsEric Kelleher - President and COOPeter Levine - Managing DirectorRoger Boyd - Executive Director and Software Equity ResearchTodd McKinnon - CEO, Chairperson, and Co-FounderTodd Weller - Managing DirectorConference Call ParticipantsAdam Borg - Managing Director and Senior Equit ...

Okta (NasdaqGS:OKTA) Q4 2026 Earnings call March 04, 2026 05:00 PM ET Speaker3Hi, everyone. Welcome to Okta's fourth quarter fiscal 2026 earnings webcast. I'm Dave Gennarelli, Senior Vice President of Investor Relations at Okta. Presenting in today's meeting will be Todd McKinnon, our Chief Executive Officer and Co-founder, and Brett Tighe, our Chief Financial Officer. Eric Kelleher, our President and Chief Operating Officer, will join the Q&A portion of the meeting. At around the same time that the earning ...

Company Overview - CyberArk Software Ltd. specializes in protecting privileged access and managing digital identities for organizations with high security demands, leveraging a robust recurring revenue model and serving a diversified enterprise client base across critical industries [6] - As of the latest report, CyberArk's market capitalization is $22.95 billion, with a revenue of $1.30 billion for the trailing twelve months (TTM) [4] Recent Developments - Absolute Gestao de Investimentos Ltda. initiated a new position in CyberArk, purchasing 190,897 shares valued at $92.23 million, representing 11.99% of its 13F reportable assets [2][3] - The stock price of CyberArk was $454.65, reflecting a 41% increase over the past year, significantly outperforming the S&P 500, which rose by 15% during the same period [3] Financial Performance - In the third quarter, CyberArk reported a total revenue increase of 43% year over year, reaching $342.8 million, with subscription revenue surging by 60%, pushing annual recurring revenue to $1.34 billion [10] - The non-GAAP operating margin expanded to 19%, up from 15% a year ago, indicating that growth is being achieved without sacrificing profitability [10] Strategic Positioning - CyberArk is transitioning from a high-quality security vendor to a scaled identity security platform, with a focus on enterprise cybersecurity needs [9][10] - The company ended the quarter with nearly $2 billion in cash and investments, generating positive adjusted free cash flow, which positions it favorably compared to other cybersecurity firms [11] Investment Implications - The new stake by Absolute Gestao de Investimentos suggests a conviction play on durable annual recurring revenue (ARR) growth and rising margins, particularly in light of the strategic optionality created by the pending Palo Alto Networks transaction [12]

Jamf (JAMF) FY Conference Summary Company Overview - Jamf is the leading vendor in the Apple device management space, established 22 years ago, initially focusing on education and now expanding into security and Android device management [3][4] - Subscription revenue constitutes approximately 98% of total revenues, with a global presence in 20 countries [4][5] - The company has experienced a 17% compound annual growth rate (CAGR) since 2021, with a net retention rate of 104% [5][14] Market Position and Strategy - Jamf holds an 11% market share in the education sector and a 2% market share in the commercial sector, with a total of 3% market share across its serviceable available market (SAM) [7][8][9] - The company primarily sells through channels, with 80-85% of international revenues and 55% of U.S. revenues coming from channel partners [10] - Security products now account for about 25% of annual recurring revenue (ARR), with a focus on expanding mobile device management capabilities [12][58] Financial Performance - In Q1, Jamf reported a 9% growth in ARR and a 10% increase in revenue, with an operating margin of 22% [15] - The company has increased its margins by approximately 1,100 basis points over the last two years, with expectations for an additional 500 basis point improvement [14][90] - Recent financial activities include a $215 million identity automation deal and a $400 million term loan to support operations and acquisitions [16][94] Competitive Landscape - Key competitors include Microsoft Intune, Workspace ONE (Omnissa), and smaller players like Kanji and Mozel [21][22] - Jamf maintains a strong competitive edge in Apple device management, with a focus on integrated management and security solutions [22][70] Macro Environment and Demand - The macroeconomic environment has led to some deal slippage and cancellations, particularly related to tariffs, but overall demand remains stable [28][30] - The company is cautious but maintains guidance for the year, observing normal pipeline activity [30] Relationship with Apple - Jamf has a strong partnership with Apple, collaborating closely on product development and market strategies [33][34] - The company benefits from Apple's international expansion and aims to increase penetration within existing Apple device ecosystems [39][41] Product Development and Future Opportunities - Jamf is launching new platforms, including Jamf for Mac and Jamf for mobile, with plans to enhance mobile management capabilities, including Android support [17][48] - The acquisition of Identity Automation is expected to enhance Jamf's offerings in dynamic identity management, particularly in education and other sectors [72][84] Operational Changes and Efficiency - Jamf has implemented a new ERP system to drive efficiencies and improve data insights, although some initial slowdowns in billing and collections were noted [86][88] - The company aims to achieve the "Rule of 40" by Q4 2026, focusing on profitable growth and margin expansion [90] Capital Allocation - Future capital allocation will focus on integrating recent acquisitions and maintaining strong cash generation, with a guidance of at least 75% growth in free cash flow for the year [95]

Core Insights - Okta Inc. reported strong fourth-quarter earnings, with adjusted earnings of 78 cents per share and revenue of $682 million, marking a 13% increase year-over-year, surpassing analyst expectations [2] - The company's stock surged 22% following the earnings report, indicating a positive market reaction and positioning for its best day in over a year [1] - CEO Todd McKinnon highlighted a "blowout quarter" with bookings exceeding $1 billion for the first time, and projected first-quarter revenue between $678 million and $680 million, also above estimates [2] Financial Performance - Adjusted earnings were 78 cents per share, beating the average analyst estimate of 73 cents [2] - Revenue for the fourth quarter was $682 million, exceeding the expected $669.6 million [2] - Year-to-date, Okta shares have rallied approximately 35%, recovering from a 13% slump in 2024 [3] Market Position and Strategy - Okta is positioned as a leader in the identity management market, with a focus on consolidating disparate identity systems for customers [3] - The company is taking steps to enhance its market leadership and capitalize on the growing demand for comprehensive identity security solutions [3] - Wall Street firms, including D.A. Davidson and Mizuho, have upgraded their ratings on Okta, citing durable double-digit growth potential and increased confidence in the company's subscription backlog [4][5] Future Outlook - The company anticipates continued momentum into FY 2026, driven by new product offerings that are expected to contribute significantly to revenue [5] - Analysts express optimism about Okta's ability to benefit from its growing suite of identity management products [5]