Okta Tops Quarterly Estimates Amid AI Agents
Okta on Tuesday reported third-quarter adjusted EPS of $0.82 and revenue of $742 million, beating LSEG estimates of $0.76 and $730 million, while subscription revenue rose 11% to $724 million. CEO Todd McKinnon said a newly released capability for building AI agents could expand Okta's addressable market over five years but is not yet reflected in results; the company guided Q4 revenue $748–$750 million and adjusted EPS $0.84–$0.85.
Key Points
- 1Reported adjusted EPS $0.82 and revenue $742M, beating LSEG estimates and growing subscription revenue 11%
- 2Released AI-agent capability that CEO says could exceed core total addressable market over next five years
- 3Guided Q4 revenue $748–$750M; practitioners should monitor AI-agent adoption for identity automation opportunities
Scoring Rationale
Official earnings beat plus AI-agent launch supports relevance, but AI upside remains unrecognized in near-term results limiting immediacy.
Sources
Public references used for this report.
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