Cybersecurity
Identity Security by Company
Independent Identity Scale
Okta revenue, SailPoint ARR, Check Point subscriptions. CyberArk is inside Palo Alto after 11 February 2026.
Okta Remaining Performance Obligations
FY2026 RPO $4.83B (+15%) and current RPO $2.51B (+12%). The independent IAM backlog versus Entra attach.
Privileged access after Palo Alto bought CyberArk
Privileged access is now a Palo Alto pillar. Independent privileged-access software is no longer a large public company here.
| Name | Where it sits | Note |
|---|---|---|
| CyberArk | Palo Alto (closed 11 Feb 2026) | Identity pillar. $45 cash + 2.2005 PANW shares per CyberArk share. |
| Microsoft Entra / PIM | Hyperscaler attach | No disclosed PAM ARR. Competes for the same CISO line. |
| Okta | Independent IAM | Acquired Axiom Security (Sep 2025 commentary) for privileged access adjacency. RPO $4.827B. |
| BeyondTrust / others | PE / private | Not profiled. |
IGA: SailPoint
Re-IPO on 12 February 2025. Q1 FY2026 ARR $925M, SaaS ARR $574M. Governance as a public name again.
Entra vs Independent IAM
Microsoft does not disclose Entra revenue. This is structure: which independent name sits against which attach SKU.
| Layer | Independent public | Attach alternative |
|---|---|---|
| Workforce IAM | Okta (FY2026 rev $2.919B) | Microsoft Entra ID (bundled) |
| PAM | CyberArk (now PANW) | Entra PIM / Conditional Access |
| IGA | SailPoint (ARR $925M) | Entra ID Governance |
| Customer identity | Okta CIC / Auth0 | Entra External ID |
Okta Workforce vs Customer Identity
ACV mix held at 59% Workforce and 41% Customer Identity at both FY2025 and FY2026 year-end. Customer Identity ACV growth slowed from 16% to 12%.
| Period | Workforce share | Customer Identity share | Workforce ACV YoY | Customer Identity ACV YoY |
|---|---|---|---|---|
| Q4 FY2025 | 59% | 41% | 11% | 16% |
| Q4 FY2026 | 59% | 41% | 10% | 12% |
Okta Customers above $100k ACV
4,800 at January 2025, 5,100 at January 2026, 5,180 at April 2026. Okta stopped printing a total customer count. Not ARR.
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