Okta, Inc.
OKTAHIGH VELOCITYFILING INTENSITYOkta, Inc. reads as an High Velocity (composite 70/100); Consistent Strategic Buyer deploying $134M across 2 disclosed transactions, down 49% vs the prior cycle · primary market Software & IT.
Lens
Disclosed M&A capital (2023–2025)
$134M
vs $263M in 2020–2022
Disclosed transactions
2
3/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $461M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 33d
- 79 8-Ks
Target Probability
Issuers showing target-side patterns from filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
Pressure Watch
Issuers facing activism, governance, or control pressure
Distress Watch
Issuers showing financial-distress filing patterns
- 10-Q 188d stale
Restatement Risk
Issuers with accounting-integrity flags from filings
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 79 8-Ks
- 4 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $13.8B
- 10-Q 188d ago
- 2 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $215M · Peak count: 1
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 1 | $56M | $56M | N/A |
| 2024 | 1 | $56M | $56M | N/A |
| 2023 | N/A | $22M | N/A | N/A |
| 2022 | N/A | $4M | N/A | N/A |
| 2021 | N/A | $215M | N/A | N/A |
| 2020 | 1 | $44M | $44M | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Bolt On50%
- Technology Acquisition50%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- bolt_on
- technology_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Expand Our International Footprint. With 21% of our revenue generated outside of the United States in fiscal 2024, and our international revenue growing 19% from fiscal 2023 to fiscal 2024, we believe there is a significant opportunity to continue to grow our international business.”
“Expand Our International Footprint. With 16% of our revenue generated outside of the United States in fiscal 2021, and our international revenue growing 46% from fiscal 2020 to fiscal 2021, we believe there is significant opportunity to continue to grow our international business.”
“We expect our operating expenses to significantly increase over the next several years as a result of the Auth0 acquisition”
“Expand Our International Footprint. With 20% of our revenue generated outside of the United States in fiscal 2026, we believe there is a significant opportunity to continue to grow our international business. We believe global demand for our product offerings will continue to be a long-term opportunity as organizations outside the United States embrace the transition to cloud computing and develop and adopt AI agents, and larger international organizations take advantage of technology consolidation within their global locations.”
“The dual class structure of our common stock has the effect of concentrating voting control with those stockholders who held our capital stock prior to the completion of our IPO, including our directors, executive officers, and their affiliates, who held in the aggregate 40.4% of the voting power of our capital stock as of January 31, 2024.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Software & IT
- Market spend (2023–2025)
- $217.7B
- Market spend (2020–2022)
- $197.1B
- Recent vs prior
- +10%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
OKTA trades at a +27.6-turn premium to the Software & IT peer median of 14.3×.
- EV / Revenue
- 4.7×
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 14.3×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
Okta, Inc.OKTA | 42.0× | 4.7× | N/A | $2.9B | $134M |
| 23.4× | 10.7× | 0.2× | $64.1B | $27.7B | |
| 15.5× | 9.8× | 0.0× | $318.3B | $75.4B | |
| 14.3× | 4.4× | 0.6× | $41.5B | $12.1B | |
| 11.0× | 3.7× | -0.1× | $6.4B | $1.7B | |
Fiserv, Inc.FISV | 7.6× | 2.8× | 0.1× | $21.1B | $10M |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Software & IT. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)92026-03-05
- 10-Q (quarterly)272025-12-03
- 8-K (event)792026-04-22
- Proxy / DEF 14A202026-05-07
- Activism (13D / DFAN / PREC)0N/A
Signals on file
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.