Okta pops 15% after topping estimates as AI threat spikes demand for identity security

Todd McKinnon, chief executive officer of Okta Inc., during a Bloomberg Television interview, in London, UK, on Friday, April 11, 2025. Chris J. Ratcliffe | Bloomberg | Getty ImagesOkta shares gained about 15% in extended trading after the identity software provider surpassed Wall Street's fiscal second-quarter estimates.Here's how the company did compared to LSEG estimates:Earnings per share: $1.05 adjusted vs. 97 cents expectedRevenue: $805 million vs. $795 million expectedRevenue rose 11% from $728 million a year ago, Okta said. Net income totalled $116 million, or 65 cents per share, up from $67 million, or 37 cents per share a year ago. During the quarter, Okta made its Okta for AI Agents tool for managing and securing agents widely available to all customers. New products accounted for 30% of total bookings, and Okta said it closed dozens of AI deals, including a multi-million-dollar deal with a healthcare company.The growth of agentic AI and the proliferation of cyber hacks orchestrated by agents are forcing companies to invest in more tools to manage swarms of new identities. CEO Todd McKinnon told CNBC that the agentic AI security opportunity is still "very early" and rece...