Okta, Inc.OKTA

Okta, Inc. Leases Disclosure

10-KFiled Mar 5, 20261 min read
Leases
The Company has entered into various non-cancelable office space operating leases with original lease periods expiring between 2026 and 2031. These leases do not contain material variable rent payments, residual value guarantees, financial covenants or other restrictions. The Company’s corporate headquarters lease in San Francisco has a 10-year term, which expires in October 2028. The Company is entitled to two five-year options to extend this lease, subject to certain requirements.
Operating lease costs were as follows:
Year Ended January 31,
202620252024
(dollars in millions)
Operating lease costs(1)
$28 $31 $34 
(1)    Amounts are presented exclusive of sublease income and include short-term leases, which are immaterial.
The weighted-average remaining term of operating leases was 3.0 years and 3.8 years as of January 31, 2026 and January 31, 2025, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 5.6% as of January 31, 2026 and January 31, 2025.
Maturities of operating lease liabilities, which do not include short-term leases, were as follows:
As of January 31, 2026
Fiscal Year Ending January 31:(dollars in millions)
2027$36 
202839 
202931 
20304 
2031
2 
Thereafter
1 
Total lease payments113 
Less imputed interest and other
(12)
Total operating lease liabilities$101 
Cash payments made related to operating lease liabilities were $37 million and $41 million in fiscal 2026 and 2025, respectively.
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Historical Timeline

Fiscal YearFiled
2026Mar 5, 2026Showing above
2025Mar 5, 2025
2024Mar 1, 2024
2023Mar 3, 2023
2022Mar 7, 2022
2021Mar 4, 2021
2020Mar 6, 2020

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

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