Okta Beats Q1 Estimates With $765 Million Revenue as Agentic AI Lifts Security Demand
Updated
Updated · CNBC · May 28
Okta Beats Q1 Estimates With $765 Million Revenue as Agentic AI Lifts Security Demand
4 articles · Updated · CNBC · May 28
Okta posted fiscal first-quarter adjusted EPS of 91 cents on $765 million in revenue, topping LSEG estimates of 85 cents and $752 million.
Revenue rose 11% from a year earlier and net income increased to $74 million from $62 million as companies spent more on identity tools tied to agentic AI deployments.
CEO Todd McKinnon said AI is not yet a majority of revenue, but customers are planning large-scale rollouts that should support longer-term demand for products such as Okta for AI agents.
Current-quarter guidance was roughly in line at $790 million to $794 million versus $791 million expected, while remaining performance obligations and current RPO both exceeded estimates.
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