NOW vs OKTA

ServiceNow presents a bullish AI-forward narrative: positioning itself as an "AI control tower" and highlighting product momentum (Now Assist, Workflow Data Fabric, Raptor, CPQ, Build Agent) and strategic moves (acquisitions of Moveworks, intent to acquire Armis and Veza). The company announced multiple partner integrations (Anthropic/Claude, OpenAI, Microsoft Agent 365, Figma) to bring foundation/frontier models and agent orchestration into its platform and announced programs (Build Program, Now Next AI, ServiceNow Store) to accelerate partner-built AI agents. Financially, Q4 2025 total revenue was $3,568M (20.5% YoY), non-GAAP gross margin 80.5%, non-GAAP operating income $1,101M, GAAP net income $401M, and non-GAAP free cash flow $2,032M. Guidance includes Q1 2026 subscription revenue of $3,650–3,655M and full-year 2026 subscription revenue $15,530–15,570M, and management links AI product adoption (Now Assist, Moveworks) to near-term guidance and long-term market opportunity.

Okta emphasizes positioning as the independent identity platform to secure AI agents and machine identities, highlighting AI agent security as a commercial focus. The release contains direct CEO messaging on securing AI agents and references to protecting 'AI, machine, and human identity.' No discrete branded AI products, primitives, developer tools, or external AI partnerships were named. Financially, Okta reported Q4 total revenue of $761M (up 11% YoY), non-GAAP operating income of $202M, GAAP net income of $63M, and Q4 free cash flow of $252M. Guidance provided: Q1 FY27 revenue $749M–$753M and FY27 revenue $3.170B–$3.190B; non-GAAP EPS guidance $0.84–$0.86 (Q1) and $3.74–$3.82 (FY). Management attributes performance to product adoption and customer trust while noting conservative guidance amid market conditions and a planned shift of professional services to partners that creates a ~1 point revenue headwind.