Nine months after restructuring its go-to-market, Okta is buoyed by a growing recognition of how crucial identity has become thanks to the spread of AI agents.
Nine months after restructuring its go-to-market, Okta is buoyed by a growing recognition of how crucial identity has become thanks to the spread of AI agents.
Off the back of its expanding agentic AI security vision, identity specialist Okta has turned in a solid third quarter with revenues up 12% to $742m (£562m) reversed a 12 month-ago multimillion dollar GAAP operating loss, and booked GAAP net income of $43m, up from $16m year-on-year.
In a signal that strategic decisions taken earlier this year may be paying off, Okta also revealed it currently has a subscription backlog of over $4bn, with approximately $2.3bn of that figure set to be recognised in the coming 12 months.
Okta CEO Todd McKinnon, who proclaimed a few short weeks ago that identity security and agentic AI security are basically one and the same, described a solid set of results highlighted by continued strength with large customers and adoption of its new products.
Speaking to Computer Weekly ahead of the results announcement, president and COO Eric Kelleher said: “Coming out of last year we had an important shift in strategy.
