OKTA
Okta, Inc.
Is OKTA Halal?
Current total-assets financial screens pass; identity and access-management software is generally permissible, while customer end use remains qualitative.
What You Should Know
Okta's April 2026 filing reports 3.74% debt/assets, 27.70% identifiable liquidity/assets, 12.28% receivables-plus-cash/assets and a 3.01% conservative upper bound for interest income and other net. The core identity, authentication and access-control business is generally permissible, but public reporting does not provide a universal prohibited-revenue numerator by customer or use case.
⚠️ Concerns
- •Convertible senior notes were 350 million against 9,347 million of total assets
- •Interest income and other, net of 23 million includes investment gains and other items
- •Government, defense, surveillance and other customer end uses are not separately disclosed
- •Privacy, breach response, access fairness and identity-data governance require qualitative review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-13.
350 / 9,347
2,589 / 9,347
1,148 / 9,347
23 / 765
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 3.74%, liquidity/assets is 27.70%, receivables plus cash/assets is 12.28%, and the conservative other-income upper bound is 3.01%; known FTSE financial ratios pass, while business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash pass the examined total-assets limits; this is not an index-membership claim and customer end-use disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable liquidity/assets are below 33%; this is not an official SAC classification and screened business revenue is unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not stored, so a spot price is not used as a proxy.
Business-activity disclosure
Okta sells cloud identity and access-management software, including single sign-on, multifactor authentication, lifecycle management and Auth0 developer identity products. Cybersecurity and access control are generally permissible, but the filing does not classify customer end use or a universal prohibited-revenue numerator.
Limitation: Subscription and professional-services revenue are reported, but the filing does not separate customer industries, government or defense use, surveillance-related use, or other ethical categories into a Sharia-screened percentage.
Purification
The filing reports 23 of interest income and other, net, but that line also includes investment gains and losses. ZakatInvest does not prescribe a fixed purification percentage; investors should follow qualified guidance.
Inputs, assumptions and primary sources
- Amounts are USD millions from Okta's April 30, 2026 Form 10-Q.
- Debt is the 350 carrying value of convertible senior notes; operating lease liabilities are excluded.
- Cash is 762 and short-term investments are 1,827; the investment balance is treated as identifiable interest-bearing securities.
- Receivables use net accounts receivable of 386 and quarterly revenue is 765.
- Interest income and other, net of 23 is used as a conservative upper bound because it includes interest income, strategic-investment gains and other items; the filing separately reports 1 of interest expense.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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