OKTA'S shares surged over 19% after the company reported stronger-than-expected Q2 financial results and raised its fiscal year outlook. For the quarter ending July 31, Okta reported $805 million in revenue, an 11% increase year-over-year, and net income of $116 million, up from $67 million a year ago. Subscription revenue grew by 12%, while the backlog of subscription commitments rose 17% to $4.86 billion. The CEO highlighted the company's focus on securing AI agents as they become vital in technology. Okta's acquisition of Permiso Security aims to enhance its identity threat detection capabilities, further expanding its offerings.
Okta shares jump 19% on strong Q2 results and AI security push
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