Okta Emphasizes Identity Leadership Amid Agent Competition

Okta CEO Todd McKinnon told investors on a Wednesday fourth-quarter earnings call that the company is rapidly building identity products to defend against AI agents, citing surging demand for Auth0 for AI Agents and Okta for AI Agents. He reported fiscal 2024 revenue of $2.9 billion and said new product sales represented roughly 30% of Q4 bookings, projecting TAM growth to $80 billion.