Okta (OKTA) Shares Rise as Q1 Revenue Tops Estimates, AI Identity Products Gain Traction

Okta (NASDAQ:OKTA) reported first-quarter revenue of $765 million on May 29, 2026, up 11.2% year over year and above Wall Street forecasts. Non-GAAP earnings of $0.91 per share beat analysts’ estimates by 6.7%. Shares climbed to $102.47 from $95.87 before the results, with management citing strength in large enterprise adoption and early demand for AI agent identity products. The company guided second-quarter revenue around $792 million, in line with consensus. CEO Todd McKinnon said momentum was broad across Okta and Auth0 platforms, and newer offerings such as identity governance and privileged access are contributing a growing share of bookings. AI-related identity management solutions are generating unprecedented pipeline growth. CFO Brett Tighe noted heavy R&D investment to capture AI security opportunities, aiming for sustainable, profitable growth. Okta’s strategic priorities include scaling AI product adoption, expanding large enterprise and public sector deals, and advancing its partner-led services model.