September 11, 2026
Bonus Content: Okta’s Real Growth Engine Is No Longer Remote Work
Robotics stocks are having a pivotal moment. And one of those stocks is changing on 9/17.
A recent robotics IPO was oversubscribed 8,000X, and nuts and bolts flew in celebration.
Experts say the frenzy could reprice robotics stocks everywhere.
Meanwhile, everyday investors like you didn’t miss an opportunity to get in on this boom: a private-stage company named Miso Robotics.
Miso’s Flippy robot works the fry station and was already boosting profits up to 4x for restaurant brands like White Castle. That led industry powerhouse Ecolab to invest in Miso’s growth.
Now, after Miso made two major asset acquisitions in 2026, Flippy is the star of Miso’s expanding ecosystem. Customers think of it as the new operating system for modern restaurants.
This year alone, Miso added big-name customers like Jersey Mike’s and Cinnabon, and grew their patent portfolio by ~10X to over 300. Their robots have even expanded beyond restaurants, entering college campuses and NBA arenas.
Everyday people like you have already made 44k+ investments into Miso so far. Now’s your chance to claim your own stake in the robot boom.
But hurry. Invest in Miso at $5.48/share before the price changes on September 17.
Okta’s Real Growth Engine Is No Longer Remote Work
For years, the Okta investment thesis rested on a simple observation: distributed workforces need secure access, and nobody sells that better than an independent identity platform. That framing still has merit. But after a roughly 29% single-day stock jump following late-August earnings, the debate has moved somewhere more contested and more interesting.
The Bull Case
Okta raised its annual revenue outlook again after posting better-than-expected results and pointing to demand tied to securing newly adopted artificial intelligence systems. That is not a remote-work story. It is an AI infrastructure story.
As businesses deploy more AI agents, those digital workers need identities, permissions, and security controls just like human employees, which puts Okta directly in the middle of a rapidly developing market. The company announced new platform capabilities enabling organizations to build and secure agentic AI agents, with Okta for AI Agents becoming generally available on April 30, 2026.
The financial foundation is improving alongside the product ambition. In the quarter ended July 31, 2026, Okta reported $805 million in revenue and non-GAAP EPS of $1.05, with non-GAAP operating income of $226 million at about a 28% margin. The company has made a clear shift toward profitable growth, with GAAP operating margin reaching 5% in fiscal 2026 after years of losses and free cash flow margin hitting 30%. A business generating roughly $884 million in operating cash flow annually is not the speculative growth story of 2021.
Management has pointed to about a 40% average contract uplift when newer products are included in a deal, which, if it holds at scale, would materially change the revenue-per-customer trajectory without requiring accelerating new logo growth.
The Bear Case
The competitive pressure is real and getting heavier. While Cisco and Fortinet approach AI agent security from broader network and infrastructure positions, Okta focuses exclusively on identity as the control point, and enterprises are now evaluating whether to consolidate agent governance under a dedicated identity platform or layer it into existing network security stacks. That is a hard question for procurement teams, and the bundlers have pricing leverage Okta cannot match.
Analysts citing competition from Microsoft and other large security platforms push back on the idea that Okta’s AI products alone will keep revenue growth strong over multiple years. Dollar-Based Net Retention stood at 107% as of July 31, 2026, which is healthy but not the 120%-plus expansion rates that once justified premium multiples. Revenue growth in the low double digits does not obviously warrant a high-multiple valuation if larger platforms are closing the product gap.
Where the Evidence Leads
The bear case is structural and not easily dismissed: independent best-of-breed vendors face a persistent bundling threat from Microsoft Entra and Cisco’s Duo. But the bull case has a specific and time-sensitive catalyst. Every enterprise AI deployment creates a new class of non-human identities requiring governance, and Okta’s platform is one of the few purpose-built for that problem.
Adoption metrics for Okta for AI Agents and Identity Governance will signal whether Okta’s AI agent security products are gaining traction, with management commentary on deal sizes and pipeline serving as the clearest early indicator. Watch Q3 fiscal 2027 billings. If agentic contract uplift shows in the numbers rather than the slides, the bull case earns considerably more weight.
Final Verdict
The evidence currently favors a cautious bull position. Profitability is real, the AI agent identity market is early, and strong remaining performance obligations suggest enterprise demand is not slowing. The risk is that Microsoft and Cisco absorb the agentic layer before Okta can price it into enough contracts to move the growth rate. Confidence: moderate.
