Okta jumps 8%, tops first-quarter results on agentic AI demand Okta surpassed Wall Street’s first-quarter financial expectations, reporting higher earnings per share and revenue, with an 11% year-over-year growth. CEO Todd McKinnon highlighted that the rise of agentic AI is increasing demand for Okta’s identity security tools, though AI currently represents a small portion of revenue. The company is strategically investing in AI-specific tools to secure the future of AI deployment.

• Okta exceeded Wall Street’s first-quarter earnings and revenue estimates.
• Revenue grew 11% year-over-year, and net income increased to $74 million.
• CEO Todd McKinnon stated that demand for Okta’s identity security tools is spiking due to the proliferation of agentic AI.
• McKinnon views AI demand as a long-term opportunity, not susceptible to short-term euphoria.
• Okta is allocating more resources to tools like Okta for AI agents and Net-zero for AI agents.
• First-quarter guidance was in line with expectations, and remaining performance obligations topped estimates.