Okta (NASDAQ:OKTA) held its first-quarter earnings conference call on Thursday. Below is the complete transcript from the call.
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View the webcast at https://events.q4inc.com/attendee/875269792
Summary
Okta Inc reported strong Q1 FY27 results, driven by large enterprises, partner engagement, and new products, with Okta and Auth0 platforms contributing to steady momentum.
The company’s AI strategy is a major focus, emphasizing the management and governance of AI agents as identities, leveraging distribution, product breadth, and neutrality as competitive advantages.
Financially, Okta ended Q1 with $2.6 billion in cash and short-term investments, repurchased shares, and expects FY27 revenue growth of 9% to 10% and non-GAAP operating margin of 25% to 26%.
Strategic partnerships with major tech companies like ServiceNow, Google, and Amazon were highlighted as Okta integrates its AI identity management solutions.
Management is optimistic about the future, with strong pipeline growth for AI products, though these have not yet materially contributed to financials, and a focus on disciplined cost structure and long-term growth.
Full Transcript
Dave Giamarelli, Senior Vice President of Investor Relations at Okta
Hi everyone. Welcome to Okta’s first quarter of fiscal 2027 earnings webcast. I’m Dave Giamarelli, Senior Vice President of Investor Relations at Okta. Presenting in today’s meeting will be Todd McKinnon, our Chief Executive Officer and Co-Founder, and Brett Tye, our Chief Financial Officer. Eric Kelleher, our President and Chief Operating Officer, will join the Q and A portion of the meeting. At around the same time the earnings press release hit the wire, we posted supplemental commentary to our IR website.
Today’s meeting will include forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding our financial outlook and market positioning. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements.
Forward-looking statements represent our management’s beliefs and assumptions only as of the date made. Information on factors that could affect our financial results is included in our filings with the SEC from time to time, including the section titled Risk Factors in our previously filed Form 10-K. In addition, during today’s meeting, we’ll discuss non-GAAP financial measures. Though we may not state it explicitly during the meeting, all references to profitability are non-GAAP.
These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures and a discussion of the limitations of using non-GAAP measures versus their closest GAAP equivalents are available in our earnings release. You may also find detailed information in our Supplemental Financial Materials, which include trended financial statements and key metrics posted on our investor relations website.
In today’s meeting, we will quote a number of numeric or growth changes as we discuss our financial performance, and unless otherwise noted, each such reference represents a year-over-year comparison. And now I’d like to turn the meeting over to Todd McKinnon.
Todd McKinnon, Chief Executive Officer and Co-Founder
Thanks, Dave, and thank you everyone for joining us this afternoon. We’re pleased with the strong start to FY27. Consistent with recent quarters, our results were driven by strength with large enterprises, partner engagement, and contribution from our newer products. Underpinning this performance is the durability of our core business, with the Okta and Auth0 platforms both contributing to steady momentum across our entire portfolio. That said, the number one topic of interest from customers to investors is Okta’s AI strategy.
So today I’ll focus my remarks on how Okta is uniquely positioned to capture the AI opportunity. The future of technology is agentic. For Okta, this represents a tremendous opportunity and an even greater responsibility. Every AI agent inside an enterprise is a new identity. Today, AI agents are the fastest-growing identity in the enterprise, but also the least governed. Okta helps bring agents under control by treating them as first-class identities that can be managed and governed by their existing identity management system.
We believe over time, most large enterprises will have more agentic identities than human ones. This shift broadens the attack surface because every agent comes with credentials, privileges, and the ability to act on a user’s behalf. In turn, this raises the strategic value of the identity layer because governing autonomous systems requires the kind of control, audit, continuous intent-driven authorization, and real-time enforcement only an identity platform can deliver.
To help our customers confidently secure this shift, we’re building on three unique advantages, each with powerful network effects: distribution, product breadth, and neutrality. Today, I’ll cover all three. Starting with distribution, Okta pioneered identity for the cloud era. Over the past 17 years, we’ve built the most modern and comprehensive identity platform, which is now the identity system of record trusted by more than 20,000 customers. In the agentic era, identity becomes even more foundational.
When a customer secures their agents with Okta, they are not taking on a new platform. They are extending the trusted foundation they already rely on with Okta. We’ve already seen how our customers benefit from this expansion in other parts of our business. Customers are finding value in Okta’s unified identity system as Okta Identity Governance was once again the leading contributor among our new products. This distribution flywheel is evident in our results.
Our new product portfolio represented approximately 25% of Q1 bookings, a meaningful increase from Q1 last year. We see a 40% ACV uplift when new products are included in a deal. The same customers who trust Okta for workforce and customer identity are extending that trust into agent identity. Our second unique advantage is product breadth. We are the only vendor with solutions that address both sides of the agent security problem. Okta for AI agents, which became generally available last month, gives enterprises a single control plane to discover, govern, and manage agents across their organization.
It is the first and best implementation of the blueprint for the secure agentic enterprise, an industry framework for bringing agents under control by answering the three questions that have dominated my customer conversations over the past several months: Where are my agents, what can they connect to, and what can they do? Enterprises need to maintain visibility and control over their sprawl of agents, ensuring they have governed identities, consistent access policies, and ways to shut them down to secure every agent end-to-end.
Okta provides customers with centralized visibility into agents with identity governance capabilities, including ownership, assignment, and lifecycle management, while giving IT and security teams critical security controls to deactivate rogue agents. For developers building AI agents, Auth0 for AI agents provides the identity foundation to ship secure agents inside their products. Auth0 for AI agents secures agents, APIs, and users effortlessly for B2B, B2C, and internal apps, all backed by the enterprise-grade Auth they already trust.
In tangible terms, pipe generation in Q1 was strong, driven in part by these two new products. The third unique advantage is neutrality, which is more important than ever. The AI landscape is evolving rapidly. Customers need an identity solution that frees them to choose whatever technology serves their business best without fear of vendor lock-in. As the leading independent neutral identity platform, Okta gives organizations the flexibility to do exactly that.
In the same way enterprises run workloads across multiple clouds, they are deploying agents across various platforms like OpenAI, Anthropic, Google, Microsoft, Salesforce, and a growing set of open-source frameworks. Managing and securing an autonomous workforce requires a neutral independent identity layer that others can’t provide. In practice, cloud providers, model providers, and agent platforms are partnering with Okta to securely manage agent identities as they continue to proliferate across the enterprise.
Okta is the only modern identity platform purpose-built to sit above the agent ecosystem, and it federates with whatever identity provider a customer runs. That means the opportunity for Okta for AI agents is not limited to our existing workforce customers; it extends to every enterprise with a multi-platform AI strategy. These three advantages are unique and mutually reinforcing. The more organizations use Okta to secure their agents, the more identity signals flow into our platform and the stronger our governance and detection becomes.
And our neutrality allows us to secure current and future agent frameworks for customers, allowing Okta to capture more of the addressable market. Neutrality becomes even more important when it comes to technology partnerships and integrations. Like the traditional cybersecurity landscape, no single company can address the agentic security market alone. That’s why we’ve partnered with AI leaders, from ISVs to hyperscalers to frontier AI vendors, and I’d like to highlight a few of those partnerships.
Today, we’ve entered into a partnership with ServiceNow that integrates their AI control tower product with Okta for AI agents. Our partnership with Google brings centralized identity governance and access control to Google’s agent gateway. Okta for AI Agents now integrates with Amazon Bedrock Agent Core to provide customers with identity governance capabilities for their agents. We were a launch partner for OpenAI’s release of GPT 5.5 trusted access for Cyber, and finally, we’re collaborating with Anthropic in a number of ways, from testing Anthropic’s Cloud Mythos Preview model as part of Project Glasswing to a new integration between Okta Identity Security, Posture Management, and the Cloud Compliance API.
It’s still early days, but the AgentIQ era is fundamentally transforming how we deliver success for our customers. By leveraging our unique advantages, great products, deep partnership, and industry expertise, we are well positioned to help customers thrive in this fast-moving landscape, which will unlock a new growth vector for Okta. To wrap things up, FY27 is off to a strong start as we look to build on our momentum as we move through this year and beyond.
I want to thank the entire Okta team and our loyal customers and partners who put their trust in us every day. And now here’s Brett to cover the financial commentary.
Brett Tye (Chief Financial Officer)
Thanks, Todd, and thank you everyone for joining us today. The investments we’ve made in product innovation, our Go to Market team, and partner network are yielding tangible results. We’re pleased with the strong start to FY27 and are confident we’re on the right path to accelerate the business. My commentary will provide insights into our Q1 performance and then move into our outlook for Q2 and FY27. I’ll start by highlighting the strength we saw in our Go to Market performance.
As a reminder, at the beginning of Q1 last year, we further specialized the Go to Market team into Okta Sellers addressing security and IT buyers and Auth0 sellers addressing developer buyers. The teams are now fully settled into place, allowing us to start this fiscal year with far less change. The stability of the sales team, coupled with strong execution, led to positive Go to Market KPI improvements, including increased sales productivity, strong pipeline build, and low AE attrition.
We’re also seeing the investments we’ve made in our partner initiatives take root as partner source bookings experienced a meaningful increase, including multiple million-dollar-plus deals in Q1. Moving on to our balance sheet and capital allocation, we had another strong quarter of cash flow in Q1 and ended the quarter with a very healthy balance sheet consisting of approximately $2.6 billion in cash, cash equivalents, and short-term investments.
Next month, our convertible notes reach maturity, and we will settle the remaining principal amount of $350 million in cash. Over the course of Q1, we repurchased and retired just over 3 million shares for a total cost of $241 million. $680 million remains under the $1 billion repurchase program that we launched in January. As we look to take advantage of what we believe to be an undervalued share price, we continue to regularly evaluate Okta’s capital allocation priorities to ensure we’re well-positioned to deliver sustainable long-term value to shareholders.
Now let’s turn to our business outlook. Our guidance philosophy is unchanged as we continue to take a prudent approach to forward guidance. For the second quarter of FY27, we expect total revenue growth of 9%, current RPO growth of 11%, non-GAAP operating margin of 26%, and free cash flow margin of 20% to 21%. For the full year FY27, we now expect total revenue growth of 9% to 10%, non-GAAP operating margin of 25% to 26%, and a free cash flow margin of 27% to 28%.
As I called out last quarter, the FY27 revenue guidance includes about a 1-point impact related to a strategic decision to shift more of our professional services business to our partners, specifically global systems integrators. This change will result in lower professional services revenue and is expected to start to materialize in Q2. In addition, the FY27 free cash flow margin guidance includes about a 1-point impact related to lower interest income due to the combined impact from the stock repurchase program and our intent to settle the remainder of the 2026 notes in cash.
To wrap things up, we’re optimistic about the trends we’re seeing in the business. We’ve been disciplined with our cost structure while investing for growth, putting Okta in a great position to extend our leadership in identity security. We’ve demonstrated exceptional leverage in our model and are positioned to deliver profitable growth for years to come. With that, I’ll turn it back to Dave for Q and A.
Dave Giamarelli, Senior Vice President of Investor Relations at Okta
Thanks, Brett. I see that there are already quite a few hands raised, and I’ll take them in order until the top of the hour. In the interest of time, please limit yourself to questions. So with that, we’ll take the first question from John Defucci at Guggenheim.
John Defucci, Analyst at Guggenheim
Thanks, Dave. Thanks, everybody. Nice job, you guys. Really nice to see. I guess I’m going to stick. I was going to have a couple, but I’m going to have one, Dave, and it’s going to lead into what Todd was talking about with AI. It’s not one I’d like to ask usually, but I think based on our work anyway, you guys have done a great job of gaining AI mindshare among the channel. The channel is talking about what a good job you’re doing at that and getting in front of customers.
But we realize it’s still early. Can you talk about how this is materializing in the market? Are customers actually at the point where they’re securing agents yet, or are they just talking about it, or are there a lot of them that aren’t even really doing that and you’re trying to make sure you’re in front of it? Thanks.
Todd McKinnon, Chief Executive Officer and Co-Founder
Hey John, let me set the stage for you out there. I’ve spent the last six months on this goal to talk in person, face to face, with our top 100 customers, about 75 customers in. And when you mix that with a bunch of other conversations, here’s what’s going on. Everyone is deploying agents in some way, shape, or form, but they’re really just starting to think about and put in programs in place to lay out the rails of governed managed adoption. So a concrete example is you’ll have a development team that is using Claude code, but it’s connected to GitHub and their Jira system with static tokens in the local developer box.
So that company is using agents, but they’ve really done it in a haphazard, non-secure way. And what’s happening now is they’re figuring out those rails, they’re figuring out how they’re going to have secure connections, have a system to monitor where all the agents are, have the ability to support it from multiple platforms. And that’s why you’re seeing the record interest and the record pipeline for what we do with Okta for AI agents and Auth0 for AI agents.
The reality is of these products, it’s still early, they’re not materially contributing to the business in Q1. In fact, we’re still being prudent in our guide. They’re not even, you know, they’re a little bit in the guide but not significant in the guide. But it’s going to be big. We’re pouring a lot of R&D effort into this and focused on it and the interest is super high, unlike anything we’ve ever seen. And I think it’s because we’ve focused on it.
We have a good story and good thought leadership, as you mentioned, with the channel. But I think another big reason is that it’s ours to win because they’re used to looking to us for trusted infrastructure that they use to connect their employees and their customers to all these resources. So it’s very natural to say who can really manage these connections and give me these governed rails for all these secure connections where my agents are, what they’re doing, what can they do?
It’s a natural fit for us. So I think as they build out this infrastructure, we’re in this really great position to have this be a super, super meaningful part of the business and TAM over the next several quarters and several years. And that’s why we’re working so hard to take advantage of it.
John Defucci, Analyst at Guggenheim
Todd, that all makes sense. If you could just, and this is the same topic, when do you think this will start to happen en masse? And like I said, you’re up ahead of it.
Todd McKinnon, Chief Executive Officer and Co-Founder
Well, one thing that’s already happening is that we’re already starting to get pull-through in the sense that these agenda AI conversations are raising the strategic importance in many of our customers’ eyes of what Okta is beyond just workforce access management. So this really, hey, these guys could be this broad platform across governance, privilege posture management, identity security, identity infrastructure. And that is having an impact that is in the numbers now.
Like if you look at our 12% revenue growth, we look at net retention inflecting up to 107, you know, a CRPO of 12 that’s being driven by Okta being put in a more strategic light because of this thought leadership in AI. And that’s going to continue throughout the year as well.
John Defucci, Analyst at Guggenheim
Great. Thanks a lot, Todd.
Dave Giamarelli, Senior Vice President of Investor Relations at Okta
Thanks, John. Next up, let’s go to Brian Essex at JPMorgan.
Brian Essex, Analyst at JPMorgan
Great, thanks, Dave. And thank you for taking the question. I wanted to follow up on John’s question a little bit. So Todd, would love to know from a macro and spending perspective. And we heard at the beginning of the year, I think there was a little bit of caution around IT security budgets. And then we started hearing about security getting access to budgets outside typical budgets, whether it’s like marketing budgets and so forth. And now we’re starting to hear about like panic or incident response spend.
Now that Mythos has come out blasting that you mentioned, I think CIOs are a little bit fearful of how the threat environment might accelerate. So could you tie that back into what you’re seeing for demand and access to IT budgets? Are you getting that incremental spend? Is the panic around the threat environment a headwind to your sales cycles, or are you benefiting from it? We’d love to just get what you’re hearing from customers.
Todd McKinnon, Chief Executive Officer and Co-Founder
When we talk to customers, they’re cyber professionals, and they’re entrusted with keeping their organization secure. So any kind of intelligence they can get, any kind of edge or information, whether that’s something on the dark web or that’s some new model, they’re all over it. And there’s a ton of energy around getting access to Mythos and Glasswing and OpenAI’s new model. So they’re very interested in that. That being said, I think the world and the population has extrapolated that from thinking that they’re panicking and changing their priorities.
And that is not true. I think what it’s doing is everyone is reinforcing the fundamentals. They know what they have to do. There’s been zero days forever, and now there’s going to be more, and we can debate how many more. But they’ve known what they have to do. They have to have a good zero trust environment, they have to have solid identity. They have to make sure they have a patching process, they have to make sure they have visibility. So I think what I’m seeing is that boards and CEOs are saying we know this agenda thing is real, we got to put the guardrails in place for that.
And we know that security is real, and we’re going to spend money on that. And the reality of it, Brian, is that it’s the fundamentals, it’s identity. 80% of breaches go through identity. And you know you have to patch your systems, you know, you have to have a good multi-layered defense and zero trust so you can defend from multiple ways. And so I think that’s why we’re so well-positioned to be that key identity platform in an unmatched array of products that no one has, no one has governance, PAM, identity infrastructure, identity security, agentic story.
So that’s why we’re really excited about what’s going on.
Brian Essex, Analyst at JPMorgan
That’s helpful. But are you seeing that materialize in like accelerated sales cycles or is this more of a conversation?
Todd McKinnon, Chief Executive Officer and Co-Founder
So I think this return to the fundamentals and knowing you have to fix your fundamentals is helping the identity market and the identity security market. I don’t think it’s necessarily showing up in agentic identity yet. That’s still early, but it’s accelerating. The importance of investing in your identity infrastructure and your identity security makes a lot of sense.
Brian Essex, Analyst at JPMorgan
Thank you.
Dave Giamarelli, Senior Vice President of Investor Relations at Okta
Great. Let’s go to Todd Weller at Stevens.
Todd Weller, Analyst at Stevens
Thanks, Todd. Question for you on agentic. If you laser into kind of the runtime authorization and policy enforcement area, could you kind of provide some details on Okta’s role in that layer and then how you interplay with some of these embedded capabilities we’re seeing in the HyperScaler and Agentic AI platforms?
Todd McKinnon, Chief Executive Officer and Co-Founder
Yeah, sometimes it’s all moving so fast and everyone’s got their release and their announcement and everyone kind of says the future of agentic is centered around what they traditionally have done. So it’s a little bit hard to pull apart. Here’s what Okta does and it’s very much a key part of what is needed and that is we connect resources to. We connect traditionally as people to resources. Whether that was the apps you need to do your job, whether that was the apps your customers wanted to browse on your website or mobile app. And now it’s very similar with agents. We tell you who your agents are. There’s a directory of agents. We can scan multiple platforms and multiple systems and give you that source of truth of where your agents are.
And we can help you set a policy on what they can connect to. Agents can read this from teams and they can read this from Slack and they can read this information from Snowflake and they can read this from GitHub. So it’s like single sign on or access management. Now all the protocols are different, so it’s a new product capability. And the way agents are built are different than some of these other apps are built. So it’s a new set of capabilities, but at a high level it’s the same thing.
And then you mentioned this last part, which is really key, which is like once you can get into these systems, what can the agent do? What types of data can they see? Is it read only? Is it read, write, how does it work? And so we can lay that authorization, actually we can surround the agents with an authorization layer that will control what the agents can do without having to go into these large enterprises that we’re working with, the FedExes, the Dells, the biggest companies in the world, they have thousands of applications and it’s not realistic to go require the customer to rewire all these applications to set up their agents.
So we can surround the agents with an authorization layer that does that in a very scalable way. So it’s detecting agents, controlling how they can connect to things and then what they can do in there. And there’s a few fundamental truths, right, that are going to play out. I think one is that they’re going to get Agentic capabilities from many, many companies. They’re going to have different platforms, they’re going to have Hyperscaler platforms, they’re going to have foundation model platforms, they’re going to have open source platforms, they’re also going to get agentic capability from apps.
Salesforce is going to have their workdays, is going to have their servicenows and on and on. Everything is going to be have agenda capabilities. But we know they’re going to have to have a directory of these things, a roster of these things, a policy layer and they’re going to have to make sure they can connect to things. And so we’re seeing our customers. It’s a kind of a no regrets move to pick this independent and neutral identity layer that can solve those fundamental problems without locking them in to hey, you got to be all agent core, you got to be all agent365 or it’s agent force.
They want flexibility and choice across multiple things.
Eric Heath, Analyst at KeyBank
Thanks Dave. Congrats everyone. Todd, just to stick with the theme, I wanted to ask about the pricing strategy for AI agents and understand everything’s early, so just curious to get your perspective on where the market is in terms of figuring out how we’re going to price these things and then just any update you might be able to share on the outputs you’re seeing from AI agent deals at this point.
Todd McKinnon, Chief Executive Officer and Co-Founder
One of our advantages is that we have 20,000 customers and the way I’ve organized the team to attack this opportunity is all around focusing our strategy in our product roadmap directly informed by active customer conversations. So we have an AI takeoff team that’s out there having hundreds and hundreds of conversations with our customer base, figuring out what they are actually going to do with these agents today, what are their challenges today and tomorrow.
So it’s very informed by what the customers actually are doing, planning to do. I tell the team in this area, there’s so much hype and so much noise, there’s a big risk of science experiments building things that maybe aren’t super useful. That sounded like a great idea. So our approach is very pragmatic and focused on the real requirements. And so the way we’ve done pricing for our products is exactly in line with how our products have been priced in the past.
They’re priced on it’s an uplift to a named user or it’s an uplift to a monthly active user. Now you might say, hey Todd, but agents are this new thing and why are you pricing them on an active user or a named user price? And that’s for two reasons. One Reason is that’s the way customers want to consume it right now. And two, the majority of concrete use cases in the world right now for agents, it’s on behalf of a user, it’s an agent working on behalf of a software developer, it’s an agent working on behalf of a support rep, it’s an agent working on behalf of someone in accounting.
So it’s very natural how they want to buy it and how they’re actually being used. So it’s an uplift on a named user and it’s an uplift on an active user. Now we fully understand that that’s going to evolve and there will be more autonomous agents that have to be priced not by user base or not an extension of a user. They have to be, the unit has to be the number of agents. It’s a little bit tricky because it’s, it’s very hard to define the number of agents because some person might say, oh, I have 1,000 agents, but it’s really kind of 1,000 copies of the same agent or 1,000 instances of the same agent.
In other cases it might be literally one instance of an agent acting for many, many different use cases. So the industry is kind of figuring that out and we’ll figure that over time how to monetize and price that now. But right now we’re pricing for market share and reducing friction and how customers want to buy and we think that’s the winning strategy.
Brett Tye (Chief Financial Officer)
The other thing, Eric, I would just add around your question around uplift and how that’s going. The average deal size for these AI specific deals is significantly larger than the average deal size for the rest of the company. So we are seeing a good uplift. Look, we’re still early, so that’s the potential to change. But the early signs are these deals are quite sizable and that’s one of the reasons why we’re optimistic about the opportunity in the long run.
Todd McKinnon, Chief Executive Officer and Co-Founder
Yeah, and we’re just in a different, it’s a different strategic conversation with customers where you’re talking about, you know, we’re going to be the backbone for your agenda control plane and we’re going to also do your customer identity and your person and your employee identity versus hey, you know, we want some tactical multi factor authentication thing to pass an audit and it’s maybe done lower level in it. It’s a whole different type of conversation we’re in. And that’s really driving a lot of this positive momentum in the business.
Dave Giamarelli, Senior Vice President of Investor Relations at Okta
Brad okay, next we’ll go to Adam Tyndall at Raymond James.
Adam Tyndall, Analyst at Raymond James
All right, thanks Todd. You mentioned a building pipeline on AI. I wonder if you might help with the size of this maybe relative to other products in the past or maybe a different way to ask that to Brett.
Todd McKinnon, Chief Executive Officer and Co-Founder
The pipeline, the pipeline, the pipeline is bigger than anything we’ve ever seen. It’s like we don’t get paid for pipeline. So it’s not a pip, it’s how can we execute on turning this pipeline into real dollars. And the reality is if you look at like it wasn’t the AI agent products were not materially, materially contributed to Q1. It’s not. There’s a little bit in the guidance but you know, it’s heavily discounted being pretty prudent there. But we’re optimistic.
We vote with our dollars and we’re investing a lot of R and D in these products and you just look at what is needed in the world and thousands and thousands of customer conversations. The need is there and, and customers are going to lay down these rails, they’re going to lay down these rails of security and identity for their agents and we’re there to convert that pipeline as soon as we get the opportunity.
Adam Tyndall, Analyst at Raymond James
And I see it in Brett’s guidance is about 100 basis points above where he would normally guide Q2 based on the past couple of years. So I can see some of that. I guess the other part of my question I wanted to ask was the difference between AI for agents in Auth0 versus Okta. The two different platforms maybe just help us to appreciate the technology aspect of that. Is there like a big difference in size of pipeline between the two? Is one materializing faster than the other?
Todd McKinnon, Chief Executive Officer and Co-Founder
They’re both healthy. The Okta pipeline is bigger and I think that’s because it’s a little bit of a. I think the companies that are figuring out how to manage and deploy internal agents are further along than people building agents into their products, into their websites. But I think that they’re both going to be big opportunities over time.
Josh Tillman, Analyst at Wolf Research
Hey guys, thanks for sneaking me in. Maybe I’ll call it a two parter. So Dave doesn’t kill me, but the first one is just really strong short term bookings.
I think some of the strongest we’ve seen in a while. How durable is that growth? I mean just maybe my second part completely.
Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company’s SEC filings and official press releases. Corporate participants’ and analysts’ statements reflect their views as of the date of this call and are subject to change without notice.
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