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Okta Reports Strong Q1 Earnings with $765M Revenue, Signaling Surge in Identity Security Demand Fueled by Agentic AI Okta Inc. , the leading independent identity provider, has officially reported its financial results for the first quarter of fiscal year 2027 (ended April 30, 2026), delivering a robust performance driven by enterprise cloud adoption. The company posted a total revenue of $765 million , marking an 11% year-over-year growth . On a GAAP basis, Okta achieved a net income of $74 million . Backlog and Subscription Momentum The company's leading indicators for future revenue showed significant acceleration: Total Subscription Backlog (RPO): Surged 16% year-over-year to $4.179 billion . Current Backlog (Next 12 Months): Stands at a strong $2.499 billion , ensuring a predictable revenue stream for the upcoming fiscal quarters. The Shift to Agentic AI: A New Security Frontier During the earnings call, Todd McKinnon, CEO and Co-Founder of Okta, highlighted a critical stru...

FIDO Alliance Launches New Working Group to Standardize Secure AI Agent Transactions The FIDO Alliance , the industry body renowned for championing the Passkeys standard, has officially announced the formation of a new working group dedicated to establishing safety and identity standards for AI Agentic transactions . As autonomous AI agents begin to handle complex decision-making and financial tasks, this initiative aims to ensure that both users and service providers can interact with these agents with confidence and security. The Two-Pillar Approach The working group is divided into two specialized tracks, bringing together tech giants and financial leaders: Agent Identity & Authentication: Comprising representatives from Google, OpenAI, Amazon, and Okta , this group focuses on verifying the legitimacy of AI agents. To fast-track this standard, Google has contributed its Agent Payments Protocol (AP2)  a protocol designed to allow AI agents to act on behalf of users secure...