Okta reported first-quarter revenue of $765 million. This represents an 11% increase year-over-year and surpassed analyst estimates. Adjusted earnings per share reached $0.91, also beating expectations. Subscription revenue grew 11% to $750 million.
The company raised its fiscal year 2027 revenue outlook to between $3.185 billion and $3.205 billion. Okta also increased its full-year profit forecast. CEO Todd McKinnon attributed the growth to rising demand for identity security driven by agentic AI.
McKinnon stated that AI agents are becoming a new workforce that requires robust governance. Okta shares rose more than 7% in after-hours trading following the report.