Okta posted a quarter that gave investors a cleaner read on demand than on profit, with revenue rising 10.6% year over year to $805 million and adjusted EPS at $1.05. The more closely watched signal was current remaining performance obligations, which climbed 14% to $2.6 billion.
That matters now because DICK’S Sporting Goods, Okta and CrowdStrike have all been drawing extra attention after recent earnings releases, and Okta’s numbers offer a direct look at whether future business is stacking up behind current sales. For investors scanning for growth momentum, the booking metric is often the part of the report that points furthest ahead.
Current remaining performance obligations are a measure of contracted revenue not yet recognized, so a 14% increase is not just a quarterly beat in isolation. It suggests more work is already booked for coming periods, and that is the figure that tends to matter most when the market is trying to decide whether a software company’s growth is broadening or simply holding steady.
The customer count helped reinforce that picture. Okta said the number of customers generating more than $1 million in annual contract value increased by more than 20%, a sign that its largest accounts are still expanding even as the company is judged on whether it can keep converting demand into durable revenue.
That stronger demand backdrop stands in contrast with DICK’S Sporting Goods, where the headline numbers looked powerful but the details were less clean. DICK’S reported adjusted EPS of $3.53 and revenue of $5.6 billion, yet earnings slid roughly 20% year over year even as revenue jumped 53%, much of it tied to the addition of Foot Locker after last September’s acquisition rather than purely organic growth.
Foot Locker’s own comparable sales fell 3.6%, while DICK’S comparable sales rose 4.9%, and management cut its fiscal 2026 adjusted EPS outlook. The comparison is why Okta’s release is getting so much attention: one company is showing future demand building behind the current quarter, while another is showing how fast a headline revenue surge can mask pressure underneath.
For Okta, the open question is not whether the quarter showed growth. It did. The question is how long the company can keep turning a rising backlog and a larger base of high-value customers into the kind of revenue gains that justify the market’s attention.
