Okta, Inc. — Call Transcript 2025

All right, good morning. Welcome to Octane. Welcome to Investor Summit. This is going to be a one-hour Q&A session with our top executives. We have Todd McKinnon, our CEO and co-founder, Brett Tighe, our CFO, Eric Kelleher, our COO, and John Addison, our CRO. This is for you. We're going to take questions in the room. We'll take them one at a time, and we'll start right away. David, if you want to. Maybe up front, I could just summarize the key points. Absolutely. Would that make sense? Yep. Yeah. Hi, everyone. Thanks for joining us. I think this year at Octane, we have a very, very relevant message to deliver. Just in terms of what's going on in the world and the challenges and the opportunities everyone's facing. I think it's a message that people expect us to deliver. That's a, I think, a powerful combination. That message is, you know, for those of you that saw the keynote this morning, I'll kind of summarize it for you. It's basically that the insight that everyone's having is that AI really means agents and how agents can automate work and how agents can improve productivity and impacting all these different layers of the stack and all these different industries. When you break down what makes agent security real and valid and valuable, it's the fact that it's really identity security. These agents need access to different resources. They need their own identities. You have to have visibility, governance, and control about what they access. In terms of about us being relevant, it's like exactly what people expect from us. We've been working on this for many years. Today we talked about three important innovations we're delivering to make this identity security foundation for the agentic world real and relevant and powerful. The first one is how we're bringing the, we're really defining this new category, this new category called identity security fabric. Identity security fabric. The way this works is that it's just like saying, you would say CRM. There's a category called CRM, and that's the combination of sales and marketing and service and support, where you would say ERP. That's a category that combines HR, financials, manufacturing. Identity security fabric is this category that combines governance, privileged access management, identity security posture management, access management. I think this is what customers want because if they want to have a solid foundation for security, AI, all the stuff they want to build on top of that, they have to get their identity security foundation in order. It has to have comprehensive coverage. It has to leave no gaps. It has to provide automation, orchestration, all the things, you know, we've been talking about. It has to be this new concept that people don't want to buy these individual products that, you know, maybe don't work great together. They don't want to buy separate vendors for all this stuff. They don't want to have to integrate vendors. They want an identity security fabric. We talked about how the Okta platform delivers that. It's the best example of this today in the industry. It's the most complete product set. It's cloud native. It's the most integrated. It preserves choice and independence and neutrality. Now we're bringing AI agents into this platform with native support across the product suite. From identity security posture management, access management, to governance, privileged access, they all support this new identity type called an AI agent, which is kind of like a combination of a system account or a non-human identity and a person. It has attributes of both, and we've combined it across the entire product suite. That's the first set of announcements. The second set of announcements is how we're working with various efforts around standardization to help standardize how this concept of an identity security fabric interacts with this vast, complex array of technology in all these customers' environments. We talked about our progress on an open standard called IPSY. We talked about this new standard we're working on called cross-app access. It's just giving the identity security fabric more control and more visibility into the entire technology landscape, enabling faster adoption and more control and better outcomes. All toward the goal of doing more with AI. Finally, using our Auth0 platform, developers can build applications and agents and agentic systems that comply with these standards out of the box. If you build an application with Auth0, it connects into all these protocols like IPSY. It does cross-app access. It really helps people build fabric-ready things. Hopefully, you've got this sentiment if you talk to customers here at the show, but we've never seen interest from a new product area like we do about this one. Everyone wants to talk about this. The biggest companies in the world have this problem of AI agents, and they want to do more with agents. It's very exciting. Now, it's talk at this point. The question will be how fast that translates into both people buying more of our products just to build this fabric and then over time actually buying more products specifically for AI agents. All these capabilities that I'm talking about are new. They're going to be new things that people pay for in addition to what they pay now for customer identities or employee identities. It's super exciting times, and we're great to, I'm excited to be here to talk with you all about it to help you get a better understanding. Hey, Eric Keith with KeyBank Capital Markets. Thanks for doing this and having a great time. Todd, maybe I'll just say at the onset, the amount of innovation that you're doing on AI agents and how forward-leaning you're being is, I think, unmatched in the industry. I appreciate that. On a couple of the things you talked about, for me, talking to your partners and your customers out there, I'd still say it's hard to find two people that agree or have the same message on how we're going to secure AI agents. I think you still just get a vast difference in people's approach, initial views on how it's going to be done. Where do you think we are, or where do you think we are in terms of maturity, standardization of how we're going to secure AI agents? Second, to the point you were leading with, look, we all want to see acceleration and growth. When do you think this really could be a growth driver for the business? Thanks. You're having those conversations before the keynote, right? They weren't, we weren't clearly explained to them about the vision of the future. I think it's a very important point and an important question. I see this, I think where we are as an industry is that in the last year, everyone agrees on the problem. I think it wasn't a hard case to make to the audience today that a big part of AI security is identity security. Agents are the way or what we have to fix, and that's an identity security problem. That was, we tried to clearly lay that out. I think, frankly, a lot of people understand that, or more people understand that than did a year ago. I think that the solution, how to go from all this energy around companies adopting and building these tools and adopting all this wave of innovation coming from all the technology providers and translating to actually how they do that, we're still figuring that out as an industry, and we're hoping to lead there. The first necessary and present condition is the amount of interest and the amount of inbound really concrete exploration that customers are doing around our solutions. I think the first wave is really going to be customers thinking about this concept of fabric and how they can normalize this complexity with one vendor and this one stop shop for identity. That's the first thing that's going to help us grow faster, I think. Actually, the agentic part of it will kick in later. I think there's a lot of potential opportunities for growth here coming out of this. Great. Mita Marshall from Morgan Stanley. Just a question on the cross-app access and just how critical it is to get buy-in from other partners in order to fulfill the vision of the identity security fabric. Yeah. Brett is the expert on cross-app access. It is very important, and it's not going to happen overnight. One thing to understand too is that a lot of the benefits of managing AI agents in Okta and vaulting the credentials and having governance and ownership clearly outlined on who in the organization owns the agent, there's a lot of value there if cross-app access never takes off. That's the first thing to understand. You're going to want to discover these AI agents. You're going to want to track them. You can do that all without cross-app access. Cross-app access is a future-oriented way to make it all work even better. This is going to take time. You have to propose the standard, get agreement on it, build it into the products, get technology providers to adopt it, and then get more demand for it so more other technology companies build it. The standard is important because none of these technology companies, Box or Google or Amazon or Microsoft, want to build something that's only going to work for one environment. They want to have an open protocol, and that's important. It's going to take some time. The only way it has a chance, which makes me so excited about it, is that it has to solve a need that these technology providers see. The reason why we started working on this over two years ago was because we were talking to all these SaaS applications that were trying to roll out their applications in these environments, and setting up all these cross-system grants between users was a mess. They would try to roll out these awesome innovations they had, and it's like, yeah, but it takes the company six weeks to set up all the allow this thing and grant this thing. That's why we started building it. Only later did we realize it's perfect built for this world of AI agents because AI agents are inherently cross-app. They're inherently connections of multiple systems. It's a long-winded way of saying that the technology vendors want this, and that's why I think the reception has been so high. That's what you need to get this stuff started. If you try to make up some standard that no one cares about the problem, you're really kind of fighting against the wind. We think we really have a tailwind on this one. You can see that we had an event about a month ago with 1,100 people from ISVs who are interested in this and want to be able to implement it. That's just, you know, just pure quant, but it's pretty nice to see that kind of level of interest. We had a bunch of good companies on the page today, but there's going to be more and more as the months and quarters move on. I love that pure quant. I think that's awesome. Just to add to that, the keynote, for those of you that have not yet seen this morning's keynote, please go back and watch it. It really does a nice job framing up our vision, Todd's vision, Okta's vision on these topics specifically. At this time of the year, it's when we paint a vision for where the market is going and how Okta is skating to where the puck is going to be. What's interesting this year about the message around securing AI agents is our customers are all in it with us. They're all right here. This transformation is happening for the industry just so quickly that this conversation is a real conversation. In your briefing package, you'll see some data. We just conducted a survey of a few hundred companies. Over 90% of them have agents in production. 10% of them say that they're confident they're actually governing the agents. That is a shocking split between people that are deploying the technology and saying, just go fast, innovate, and solve what you can solve. Let's have confidence that these agents are appropriately governed and used in our stack and secured within the stack. All of the work that we described today on the identity security fabric is designed to help companies bridge that gap and allow them to continue to innovate with agents, but do it in a way where they're securing those agents properly and governing them with policies and rules that they choose. There was a demo in the keynote where we showed how security posture management will identify rogue agents that have been deployed and haven't been purposely cataloged and put in a directory and governed. Cross-app access as a capability for people building agents will allow them to be deployed. These 1,100 ISVs that attended our event last month that Brett mentioned, they all have the problem that they want to sell products and they want to sell agents, but their customers don't want rogue agents. Their customers are only going to deploy agents that they know that they can properly secure. We're very optimistic that cross-app access has a lot of interest already because everyone needs to solve this problem. It's not a problem they need to solve three years from now. It's a problem they need to solve today. They're already behind. We feel very confident in how that's going to play out. Janae Siddiqui, Truist Securities. Todd, we're seeing this increasing convergence between identity and data security in this age of agentic AI. Could you talk about how you're positioned to bridge identity security with data governance so customers can enforce consistent policies across users and data? Is that an area that makes sense to expand to? It's inherently related, and we see that in all of our, we hear that in all of our customer conversations. There are different kinds of technology resources. There are the applications that have all the roles and the groups and the permissions that kind of implicitly define who can access the data or explicitly define who can access the data. Then there are things like data warehouse where it's like the whole thing is data, and it's just about specifying the rules on who can access what. It always links back to an identity. By the way, the really important thing in agents is getting them the data. That is why identity security is such an important part of the combination there. One question I get often is, everyone says they are going to, everyone in the security world says they are going to secure AI agents, and who is really going to do it? Who is going to win? This is kind of like the same with identity and data governance and data security posture management and that whole category and network and endpoint. I think the reality is that they are all going to play a role. I think it is naive to think that there is going to be, saying there is going to be one single security solution to secure all of agents, and once everything is agents, all you are going to need is one security solution, I think it is pretty naive. We need a multi-layered approach, and I think all of the major pillars of zero trust are going to have an important role there. I think the world underestimates how dependent it all is on identity, just like in zero trust. A lot of zero trust is dependent on identity. It is not going to be the one, that is why I think it is a mistake to think about, oh, there is going to be one company that does everything in security. I think trying to consolidate all of security is very challenging. I think consolidating in identity is super valuable and I think doable. You know, taking a company from 50 vendors down to one vendor is very doable. I think it is pretty hard to take a company from all the security tools they have down to one, simply put, just because they need different types of security tools to be the most secure. Patrick Colville from Scotiabank. Thank you guys for having us. I've spoken to about 12 customers over the last 24 hours and asked all of them, you know, are you here at Octane to learn about agentic AI security? Interestingly, not a single one said yes. They all said, no, we're here for kind of, you know, PAM, governance, et cetera. I'm going to ask about agentic AI security because that's the hot button issue. When you're talking about cross-app access, isn't that a protocol? I guess how do you monetize a protocol? The reason I started with that opening statement is because I want to bring Brett in. When will this monetization start hitting the financial model? If customers aren't here for that now, is this a 2026 thing or maybe even like 2027? I think this concept of an identity security fabric and a one-stop shop for all of these formerly separate categories is a big growth driver for us. We're investing heavily in R&D to build out these products beyond access management, as we've talked about for many years. The reason they're here is to buy all of our new products because we have a lot of great new products to sell. Making sure the industry understands that this is where the category is going and we're going to capture that category is a very important part of the messaging we're delivering to the market. The outcomes are great for everyone. I think the customers that you talk to know that. You don't monetize a protocol. Cross-app access is an open protocol that basically, strategically, the way we think about all these standards is they make identity more valuable. They make identity able to do more, able to drive better security outcomes, able to give customers less friction in adopting technology. It's a little bit, you know, a benefit to the entire industry, but we benefit tremendously by the fact that identity tools are easier to implement, easier to upgrade, easier. A big opportunity for us is just making the change cost easier. When these companies want to consolidate vendors, making that incredibly easy. We do that in a lot of different ways. We do that in investing heavily with partnerships with systems integrators. We do that by building a lot of core technology, by evangelizing open standards. We want customers to get to this better world. By the way, by supporting this powerful new identity type, we're going to make it over time. I think it will take time. Like I've said before, I think the near-term opportunities are a lot about the broad product portfolio and consolidating legacy and large enterprise. The agentic thing is real. Next year, we'll be talking a little bit more about it. You'll see more tangible business drivers in the following years. It's going to be a big deal. I think that, go ahead, you go first. The keynote is, and our vision and the narrative that we're really emphasizing this year is on this very timely urgency around the gap I talked about earlier between agents being in the wild and how they're being governed today. You'll see throughout the demos and the platform keynotes that follow and the sessions that follow as well about how we're helping secure agents in this idea. The core premise of all of this is that we've elevated agentic identity as a first-level identity. Just like a human identity and non-human machine identity, we'll now have agentic identity. We have tons of product announcements coming out this week about all of the products in that identity security fabric for all three of those use cases, the human, non-human, and the agentic. Our governance product, for example, earlier this year, we announced a connection for on-prem applications and also separation of duties. We're announcing this week that that is now available for federal use cases as well and now available to new customers there. We have new announcements on our privileged access product, as well as all of our access management categories. On the protocol of cross-app access specifically, one of the things we'll be announcing in the Auth0 platform keynote is for anyone who's developing agents using Auth0, they will inherently support cross-app access. It's a radio button you click to support the protocol when you publish your code. There are opportunities for us to lean into the standards as they become more adopted in the industry. To your point, the protocol itself is not what we monetize. It's the security that we can provide better with support for the protocol. I think I'd say as the person who leads the field team, the best thing about going to market with this new message is it just highlights Okta's strengths. Our independence, our neutrality, our cloud-native position. When the field are learning about the relevance of our identity security fabric for human, non-human identity and agents, it's a pretty easy leap for them to actually get how that works because underpinning it is the value of our platform. How we excel in access management, identity governance, and privileged access management, secure posture management, that all relates to the management of agents as well as non-human and human identities. We feel pretty good about how we can cross the chasm with our customers and help them understand that. I was just going to add, Patrick, about your growth algorithm question, it will take time, like Todd was saying. Think of it at what we've done with governance, right? We've made that product really good. You've seen the impact to the financials, hands coming along, Device Access, all these things we talk about. Identity Security Posture Management, it just takes time. It's just another thing that we have in the toolkit for John and his team for them to sell as the world changes over time, as agentic AI becomes more and more embedded in the way the tech stack works. I asked you to check in with the partners. We spent a whole day with them yesterday. You know, they're having lots of meaningful conversations now about this. It's a real concern for our customers and prospects. It's not just in our install base's concern. It's real and it's happening now. Rudy Kessinger, Diya Jolly, similar line of questioning. We've spoken to over a dozen customers as well. Opposite of Patrick, actually, most of them are interested in your AI security capabilities at the same time. Oh, this was after the keynote? Oh, this was actually yesterday we were here, you know, all throughout. At the same time, most of them tell us we're not even close to rolling out AI agents broadly anytime soon. I think that's typical, yeah. Right. If the product's going to be GA sometime next year, I'm going to go out on a limb and assume we're not going to see any material contribution till FY28. A lot of people in the room want to see improved growth sometime before then. How do you make sure you're not overallocating too much time, energy, resources into developing those solutions when you could be allocating that time, energy, and resources into more near-term opportunities that could drive growth? What was the last thing? Near-term opportunities, like what? Near-term, investing in other near-term opportunities. Another near-term, yeah. It's really a good question. I think about it this way. We're getting a lot of, in building all the capabilities for AI agents, there's a lot of leverage in the foundational stuff we have to do all around. For example, there's a lot of leverage in what we've done for privileged access management and the vaulting and the rotation and what we've done in governance for the governance workflows around certifying that things still need access to things. We're getting a lot of leverage there. When I talked to the team about as we were innovating and building all this stuff, I said it's very important in these things that we get real customer input because there's a lot of hype and a lot of excitement around AI, and I wanted to ground the team as we built this in real tangible customer input on what they actually needed. I think what we found is that there was a lot of overlap with the use cases around governance and privilege and having this end-to-end fabric and just taking that final mile to AI agents is something that's valuable, but doesn't put us down a path that could turn out to be fool's gold because it's some, you know, thing that no one turns out to really need. Yeah, I think the core use cases of authentication and authorization apply to agentic identity the same way they do to a human identity, for example. When an agent takes an action, you need to be able to verify that it is who it says it is. You need to authenticate, and it's not being impersonated by a threat actor. When it takes that action, you need to verify that it has access to do the thing that it's trying to do and needs to be authorized. The tooling we provide around authentication for human identities, that infrastructure applies directly to authentication for agentic identities. Our fine-grained authorization with the Osero platform for building agents allows you to build in authorization controls as well. There's a lot of leverage and overlap in capabilities between the features we're deploying for human and machine use cases that apply to agentic as well. It's one of the reasons why this isn't a, it's not a new launch of a new platform. It's an extension of our identity security fabric to also support agentic identity. Yeah, one thing to clarify, in case people aren't aware of it, is that all of the agentic capabilities on our platform, those will be new offerings we sell. Just like if you add more users to Okta, we deliver more value and the customer pays us more. If you deploy agents with the Okta platform, you're going to deliver more value and we're going to capture that value. It's a nice combination of an extension of our current products in a way that's clearly delivering value and we'll be able to monetize. Hi, this is Nasser Islam for Brad Zelnick at Deutsche Bank. The Okta AI Agents is a super interesting step forward, and I want to focus on pricing. There has been a lot of debate over how pricing models change in securing AI agents, and it feels like the traditional basis of per user or per agent pricing may not be the way forward. I'm just interested in hearing how you see this evolving. I had a hard time hearing you. There's an echo. Maybe, did you guys hear him? No. Yeah, it's hard to understand. Oh, sorry. Yeah, the sound up here is kind of echoey. I'm just wondering about how you see pricing models evolve when you're securing AI agents. How pricing models evolve, yeah. I think the basic thing I just described is like there will be additional, we're going to deliver additional value from all this capability. There will be customers who will be charged for it. We're finalized, the base, there is a clear model around just a lot of agents act on behalf of the user. Think about companies rolling out their own version of internal ChatGPT, those agents are going to act on behalf of Brett or Eric or John. The identity and the number of agents they need to license is very tied to the set of users. That's an obvious extension. That's like, think of it as an extension of the per-seat license. I think what we're still modeling in some different scenarios is how it works when there's a one-to-many. There's an autonomous agent that does work on behalf of many users. That will end up, as we work with customers and finalize this, that'll work up in some variant of a per-request or a per-backend resource model. It'll be monetized a different way because there's not the inherent number of agents there are in the case where an agent is acting just on behalf of one-to-one on behalf of users. As we get through the final steps of this toward availability next year, we'll be finalizing all that and communicating it clearly to everyone. is fairly similar in unit of measure to what we do today, maybe with a little bit of tweaks, maybe a little bit of blending of the two concepts. We will definitely update you guys as we make more progress. Okay, great. Yung Kim, Duke Capital. Obviously, you know, there's a lot of discussions about when the agentic AI adoption will happen and the timeframe around it. If you do look at one market, that's where there's a lot of development going on. That's within the technology companies like ISVs and business application vendors. What kind of go-to-market motions do you have targeting them today? Do you feel like you have to basically become a standard among those vendors to be relevant on the agentic AI rollout as it rolls out to the other enterprise markets? Yeah, I think it's an important area of our strategy is serving, especially the companies that are building these agentic solutions and how we can partner with them and how we can work with them on this broader adoption of standards, like we've talked about. Our strategy here is that we want to be the best identity provider at securing identity and securing agentic AI. We want to do that by being embedded and being partnered with all of the people building agent technology and agent platforms and app vendors building agents. We want to be the constant across all of it. That takes the right product. It takes the right partnerships. We're very focused on that, making sure that's a reality. Hey, this is Laurence Vensko for John Difucci at Guggenheim. For the longest time, Okta and the identity players have primarily been tasked to secure human identities. It's clear that that's rapidly changing. Based on your presentation this morning and given your roots, it seems like the identity platform is coming together to secure both humans and non-humans. My question is, is one of those core components more relevant to secure NHIs? Is that the right way to think about it? Is it finally just coming together between access management, privileged access management, and identity governance for both? Yeah, I think that we should stop thinking about them as separate things. I think that's why this concept of the fabric is so important. People don't want to have a bunch of different vendors. It's one of the things people don't like. There's a couple of really pretty misunderstood things about identity. The first one is that the amount of complexity at customer sites around the number of identity tools is quite staggering. Even a small company has 20, 30, 40, 50 different identity vendors. There's tremendous value in consolidating that and normalizing that. We think we have the right platform to do that, to implement this fabric. The second thing about identity technologies is it's a lot of effort and a lot of work traditionally to get them fully deployed. We're doing a lot of things over the years, and even when we talk about standardization and all the technologies we're building to connect to cloud systems and on-prem system, we're trying to make that easier. We're trying to make it easier to deploy these identity management tools and let people consolidate and let people simplify. I think those two things coming together is one of the reasons why we're so well positioned. We can really remove complexity from customers' environments. We can help them have better security outcomes. We can meaningfully change their business. That's why we're so well positioned. Yeah, I would just add it's fairly simple what Todd talked about earlier today, right? It's every identity type, every identity use case, and every type of resource, right? Each one of these things that he's been talking about today on the main stage in here today is about trying to go after those. There's a bunch of technology underneath that actually helps us accomplish that. If you just think about it from that simplistic viewpoint, that's really what the identity security fabric is. We have an online question. Taz from Roth is asking, you have a platform for building AI agents, but at the same time, a lot of other companies like Salesforce and ServiceNow are providing the ability to create agents on their platform. How do those platforms collaborate or compete with Okta? Would they need to tie in with Okta to secure agents on their platform? NetNet question is, do customers build agents on the Okta platform or the platforms offered by the application and SaaS vendors to build agents? I think the way to break it down is you need to, you're going to have agents from a lot of different platforms. There's going to be a lot of heterogeneity in this world. It's going to be rapidly changing. You try to manage what you know is going to be fundamental, and that's the governance, the visibility, and the control. That's what we're doing with the Okta platform. We want that to work seamlessly with every, whether it's Amazon's agent builder or Google's agent builder or Microsoft's agent builder or Salesforce or Atlassian or anyone. We want it to work everywhere. By the way, we want to standardize it so everyone can get the benefit of this identity security fabric, no matter, you know, what they choose. We want flexibility and openness. Now, I think in that, on the vein of like, there's going to be a lot of different ways to build agents. With Auth0, we're trying to make sure that if you're building your own agent with your own development tools, you can use Auth0 to do the identity security part of that. Of course, that's going to work on different platforms. I'm sure there'll be in other platforms, there'll be competitive offerings to that because they're going to want their own identity stuff. Our commitment is that it's going to work great with this standardization to manage, govern, and control that we think should be adopted by the entire industry. Hey guys, Tomer Zilberman, B of A. Wanted to ask about the competitive landscape. Last week, you had CrowdStrike at Falcon talking about expansion of identity, further expansion into identity versus being more identity adjacent before. You obviously have Palo Alto acquiring CyberArk, which they're also here as a partner. I wanted to ask, how do you view the competitive landscape changing with the entry of these bigger platform vendors? Is there enough room in the market for everyone here? Do you think that you'll continue to partner with them versus being more head to head? Yeah, the way we think about this is, first of all, I think the goal is zero identity-based attacks. It would be awesome if identity-based attacks, we solved the problem and all of us went on to working on something else. That would be amazing. It's another way to say like there's tons of work and tons of opportunity. I think when you think about how to solve that problem, there's a school of thought that you should have all of the pieces of security working along with your identity security capabilities to solve all security challenges. That's when you see like Microsoft or CrowdStrike or Palo Alto, that's essentially their strategy, a one-stop shop for all security, which is I can see the appeal of it. There's lots of fragmentation there. There's lots of potential operations or ways to consolidate. I think the challenge is that in the security market, you need two things. You need, there's constant innovation. There's constant change. It's an adversarial environment. People are trying to break into it. You need this ability to constantly adopt the best solution. That's always a tension, I think, against consolidation and security. That's an important concept. The other thing is that you, when you think about what we could do from an identity perspective, it's really about securing the environment and having these things like detection and posture management. It's also about how the environment could be built in a way to be more secure. I think that's what coming from a foundation of an identity provider brings us. We can both help secure the environment and actually build a more secure environment itself. That's a unique approach we have. There's definitely overlap, right? I mean, there's different, everyone is trying to say where they're going to secure AI agents. There's clearly with CyberArk, there's some overlap with Okta. Some of the things that CrowdStrike is doing in security have overlap with what we're doing. That's for sure. There's no, I think it's the wrong way to think about it to be like, oh, there's going to be one size fits all. We're going to have layered defenses. We're going to have identity defenses. We're going to have network defenses. We're going to have cloud management defenses. It's all about those things working together to really drive toward this goal of eliminating identity-based attacks. If we did that, that's 80% of the security breaches. I think there's a lot of work to do. We're going to be working with them. We're going to be, you know, overlapping with them in some places. It's an important work we're doing. We'll do it together. Another online question? It's Mark Tash with Raymond James here for Adam Tindall. I just want to ask, how much of the agentic AI strategy revolves around customers buying into Okta's governance and privileged access on top of Core IAM and SIAM to be able to monetize the way that you're planning? I think we can monetize it if they're just in core access management. Just agents in the directory, track the owner, make sure that the connections are secured. It just gets more valuable if you want to do governance as well and you want to do privilege as well. It's kind of similar to like a person, right? You can do core access management, but you can do privilege. You can do governance as well. It gets more valuable as you expand the number of products in the platform you buy. Obviously, the business has had a number of headwinds the last two, three years, but it seems like we're coming out on the other side right now with a more specialized go-to-market effort, increased pipeline, better rep tenure, a much stronger product breadth, a normalizing macro, and obviously demand for identities probably at an all-time high. My question is, what concerns do you have out there? What do you think would hold the business back from re-accelerating growth? John, you want to take that? Our go-to-market strategy, like you said, is based on a number of things. Go-to-market specialization has been something that we've been working on for a period of time now. This year, we moved to a more specialized approach by platform that's particularly relevant to our biggest customers internationally in our tier-one markets. We've made pretty good progress. We're pretty pleased with the results from those segments through the course of H1. Prior to that, we moved to a Hunter Farmer model in our commercial business in the U.S. That, again, has been really positive. They had a great H1, and productivity is going really well from that standpoint too. We think those specialization bets are working. Where we see real upside is on international expansion. We're super focused on a collection of tier-one countries outside of the U.S. where we're making some significant bets in our partner investments there, localizing our products and making sure we can deliver them with the right and necessary deployment options. That's got a significant amount of upside moving forward, our international expansion. When I also think about the area across the board where we see real upside too, it's in our biggest customer cohorts. For some time now, we've been really pleased with the amount of growth we're getting out of our sort of million-dollar ACV cohort. It just makes sense when you understand our strategy and you're seeing what's really driving growth. It's in these bigger, more complex customers. They've got the legacy of years of buying disparate identity tools. They've just got a lot of complexity. They've got a lot of sunken costs, and they've got a lot of risk exposure. These are the ones that are really leaning in with us, either they bought access management from Okta before, or they're considering their estate, and they're considering refresh. I see very significant upside in our biggest customer cohort everywhere because of that. It's a trend around consolidation. Many of them want a single control plane for all identity use cases. We're the market-leading independent version of that. That's something we're super excited about and how we mobilize our partner ecosystem around that opportunity, how we align with them, make sure they have the right value propositions, the right expertise, and the right service offerings to make customers successful with that. That's the biggest opportunity that we've got to get right. That's where we're investing a lot of effort at the moment. For example, I had an executive briefing yesterday with the CISO for one of our larger customers, a top 10 customer for Okta. They are on a three-year contract that renews next June. The entire conversation yesterday was what is their plan and roadmap to deploy all the capabilities Okta has added since they first came on board. They haven't yet deployed governance. They're planning to deploy governance. The conversation yesterday was how to move from their current product-based agreement with us into an ELA. They want to buy, they want to get onto the identity security fabric and be able to deploy it everywhere for all those use cases. Todd talks about several examples of customers that are consolidating dozens and 50 to 100 different identity tools onto one identity security fabric. These conversations are becoming more and more common as our products become more capable and as our customers become better educated about the complexity that they need to solve for. Those conversations are happening all the time right now. Do you have that in the forecast? Yeah. The other thing I'd say is that specialization per platform is also benefiting the AllSero motion. We're really seeing the continuation of customers investing in seamless digital experiences, and how the AllSero team can focus on that opportunity with real, strong cognizance and discovery about how that shows up in particular industry verticals is a really big part of us continuing to grow the AllSero business, especially in our biggest customer cohorts. Hi, it's Todd Simon, Soma Equity Partners. Can I just ask a follow-up to that one? Can you talk about, in these examples of customers that have been with you in access and are kind of choosing to take the whole platform, what happens to their, how should we think about their spend with Okta? What's the rate of change of the spend on those customers? I'm surprised that you're talking about the larger customers starting on this journey first. I would think that the small, mid-size, then maybe less mature IGA PAM programs are the ones that would be the first target to go after here. Maybe you could give us kind of color on that motion as well. Yeah, I think on the piece about building out across the identity security fabric with us, I think with these customers, a lot of them have experienced kind of disappointing value from a lot of these legacy products. They've not gone as fast as they wanted these deployments. They're expensive sometimes, and they create risk exposure for them. I think it's kind of everywhere, that concern. We're seeing customers leaning in when we acquire them across a broad range of products from us now. We've got a lot, we've got 20,000 customers. We've got, you know, access management customers at every single segment level. They're all experiencing this challenge with the implementation effort, the administration effort, and the risk exposure of having these disparate tools managing identity. At every level, they're leaning in. I just think that we're seeing the most growth out of the bigger customers because when they lean in, they tend to spend more money with us. They obviously have most, you know, most legacy. I think it's a growth opportunity in all segments. We're experiencing the depth of the problem probably greatest in our biggest customers because they've got the biggest history of implementing these products and it causing these problems. I think a lot of that too ties into the partner conversation because traditionally Okta's products have been super easy to implement. As we've broadened the use cases that we cover to governance, posture management, threat detection, privilege, the set of services work gets quite rich, which obviously bears a positive flywheel there with partners because there's more opportunity for them to add value, which makes them get more up to speed on Okta and what we can do, which means more customers use them. There's a virtuous cycle there. Yeah, that's right. I mean, our partners are super excited about it because they oftentimes have been involved in some of these projects and they deeply understand the business needs of our customers and how they've evolved. They can really add value when they look at all of the use cases across the identity security fabric. It's not just at the initial point of implementation. It's like a long-term value orientation for them that really leverages the uniqueness of their relationships with our customers. Yeah, I'm spending a big percentage of my time personally with big prospects, big customers, and big partners to try to really take advantage of all the momentum there across the business. Yeah, we shouldn't underestimate how good the products have gotten over the last couple of years, Todd. I think that the comment you said about, oh, governance maybe being a little light, like that is an old tape. It's a pretty darn good product now. We're seeing more and more of these customers land not just with access management. They're landing more with the full suite of things, right? Because they are looking at our products and saying, wow, they're actually quite good. We really, we really should buy more from you guys. It's still a small number of big customers that do that. Ultimately, the long-term goal here, which is what we've been sitting up here talking about, is get all these people on the identity security fabric, which is effectively the entire portfolio. What resonates with these big customers is just look at our R&D spend. It's bigger than all the other identity companies. They know that these products are going to keep getting better and better and better relentlessly. That's what they're making the bet on a lot of times. Not only have we proven that we can deliver them, but we've proven that we can make them better over time. Other companies are getting distracted. They're changing ownership. They're getting bought. They're getting sold. They're doing other things in their focus. We're kind of consistent. We'll keep plugging away. Zach Schneider with Baird. I wanted to ask about Okta Identity Governance and specifically which capabilities within Okta Identity Governance, either entitlement management, certification, et cetera, are seeing the strongest traction today and maybe where there's some adoption frictions. In that sense, will Okta Identity Governance become more of a core module embedded across the identity stack? Or do you envision it maintaining a more monetizable standalone SKU? I think we're really pleased with how Okta Identity Governance is going. That's the first thing. It's a very, very clear cross-sell opportunity for us in our install base, and the team is really cranking just on that. It's also really nice, like Brett said, when we win new logos on Okta, more often than not now, we're landing them with Okta Identity Governance. Companies see it as a highly relevant product to manage governance in their environments, and we're really just getting started with it. Irrespective of how broad you go elsewhere within the identity security fabric, it's super obvious to us as companies look at the value of Okta. Even if they've got existing governance investments, a coexistence with them with Okta Identity Governance is incredibly valuable to them. We're also seeing a lot of customers switch off existing legacy products that they've got quite embedded in their businesses, and they're switching onto Okta Identity Governance long term. Very, very exciting opportunity for us over the long term, Okta Identity Governance. Hi, Krishal Jivheari from Salarana Global. Thanks for taking the question. Todd, I was just hoping to get an update from you on the latest thinking in terms of the internal architecture. Obviously, it's been several years since Auth0. You know, till now, you've opted to keep it separate from a platform. Now, even this year, a go-to-market perspective. I guess is maintaining these various systems, you know, Okta Workforce, Okta SIEM, Auth0 SIEM, like, is that enabling the speed and innovation that, you know, seems to be increasingly required in a market where the time to market matters even more now? You know, competitors are out there with other products today. Obviously, some acquired, some repurposed, but still. I think I always want more in terms of innovation. I'm never satisfied there. I think we're doing a good job, and I think that we've proven that these products really have different value props to different buyers. What a developer, a builder wants is pretty different than what an IT and a security team want. I think you're seeing benefit from being in their respective lanes and what they've been able to innovate. I'm pretty happy with it while I was wanting more. We have another online question. Joshua Tilton from Wolfe Research asks, lots of questions around how the identity market will evolve with CyberArk becoming part of Palo Alto. Neutrality and the integration network have always been competitive differentiators for Okta. Does the integration network have to evolve to support an agentic future? Does the value of the integration network increase or decrease as all of the apps you are reintegrated with launch their own agentic capabilities? Lastly, is there any reason from a tech perspective that identity should no longer be neutral from other areas of security in an agentic future? I think that with CyberArk is very interesting. I think that I'm not sure about this, but I think they had a similar idea that they wanted to build this identity security fabric, which you have to have all the products in the categories. You have to have great access management. You have to have posture management, threat detection, governance. You have to have privileged access management. I think there's a big question now, like, will they change the approach? Will they really lean into privileged use cases, security use cases, parts of agentic? I think that's yet to be seen. I think that the pull there is definitely going to be, I think, favor Palo Alto more, integrate tightly with that. I think the independence and neutrality is a huge advantage. I think there's not, you have to consolidate something. You can't have everything from everyone. It's a question of which consolidation points do you choose? I feel strongly that it's dangerous to consolidate on security because of the adversarial nature, because of the lock-in you get from consolidating from one vendor. I think identity is a good place to consolidate because you can get simplification and cost efficiencies from the control. While at the same time, you can have the business outcomes you need because identity companies focus on connecting to everything, not just Palo Alto, not just CrowdStrike, everything. I think that's the winning position and that's the strategy we're executing on. I think this is a big change for CyberArk. I don't know what it means for their old strategy, but I think it's a big change. Yeah, it'll be a while before that becomes tangible because that whole deal needs to complete first for them to be able to understand exactly what they're going to do, where the roadmap will take them. Maybe kind of slightly off topic, but you know, you mentioned a lot of that this is going to take time with all of these agentic solutions. You also mentioned in your keynote a lot of FOMO of customers. I guess just from a perspective of like your guys' own AI journey and kind of adopting AI internally, just where you guys are, where you guys are finding usage. Yeah, we have, so we use AI throughout Okta. I think in our, from a productization standpoint, probably the most prominent use case we've talked about publicly is Identity Threat Protection with Okta AI. It uses the AI capabilities across our volume of transactions that we manage. As a company, we process over 45 billion authentication events per month. That volume of data helps us use AI to identify threat signals, things that look anomalous and could be suspicious, and to help us protect our customers from activity that shouldn't happen. That's the productized use case we talk about most frequently, and our product's been in market for quite some time. Internally within Okta, and I oversee our operations, including our IT organization that provides tools to the company. We have today over 60 AI tools internally that we use for various use cases. It spans everything from work with our developers using developer tools like AWS Bedrock, GitHub Copilot, et cetera, to, from a creative standpoint, our marketing teams use Adobe Studio and Clay and a number of other tools. Really across the company, and Todd talked about this on stage, we're driving our people to lean in with these technologies and find out where they can make us more productive, where they can make us more efficient, where they can make us more competitive, where they can make us grow faster. We feel we have a responsibility to be thought leaders and to be progressive in exploring the capabilities of these technologies and how they can help us go faster. We also have a responsibility to make sure, just as we talk about here, we're not deploying these technologies in a case where they could cause a security deficit. Our North Star commitment on the Okta secure identity commitment still guides. We're very thoughtful about our data governance for these tools as we bring them in. We're very thoughtful about the production use cases as we bring them in. We're very intentional to make sure that if there's an opportunity to explore how a capability could help us go faster, we're going to make sure that we explore that, even if that requires a proof of concept where we gate it and ensure that we're not causing difficulty for us. We're very pleased with our uptake. We think we have found the right balance between making sure that we stay true to our goal of being one of the most secure companies in the world and also accelerating our pace of innovation to make sure we can be thought leaders in the space. Yeah, navigating all this change is a tremendous challenge. It fires us up. We love doing hard things. We love succeeding in the face of adversity and taking on this challenge, whether it's internal transformation, whether it's product, whether it's industry landscape. It's very motivating and very exciting for all of us. I think you're seeing that come through in what we're delivering and how we're performing as well. It makes all of our conversations with customers just highly timely and relevant because all of them are navigating the exact context I just described. They're all in the same position right now. There is intense interest in all of us understanding how to chart a path to navigate this to benefit from the capabilities of this new wave of technology and do it in a way that keeps your company secure. I think that's what you saw in the main stage keynote, which you referenced. That's what you hear throughout the week this week at the show. I have time for one last question coming in online. Last question comes from Adam Borg at Stifel. Big picture, fast forwarding five years, do you expect that the total addressable market for securing NHI in general and agentic AI in particular to be smaller, the same size, or larger than human identity? I think it's on the order of the same size. That's how I think it'll play out. I think both are going to grow and both are very important. Probably I should have had a longer question. Why don't we take one more? Any shorter questions? Someone in the room. Anybody up front. Hi. In the past, I know the team has said that Okta Identity Governance constitutes about 30% of a workforce deal TCV. Can we get a sense of how that compares to Okta Privileged Access and Identity Security Posture Management and the ITDR products as well, please? Yeah, I think all of those categories, governance can be a 30% to 50% increase in value from a basic access management. Privileged can be a 30% to 50% increase over that. The other bucket is, call it identity security posture management, identity threat protection. That can be another 30% to 50%. You can go from a basic access management deal to a full all-product Okta deal that can be the summation of all those, which is, you know, three to four times larger if I did my math right. What are you? Close enough. We're seeing it bear out in the data, so it's positive. Okay, I think we're at time. Thank you, everyone, for coming out. Thank you, gentlemen, for your time today. Please go enjoy the rest of Octane, go to the keynotes, walk the halls, talk to customers, talk to partners. Have a great time. Thank you. Thanks, everybody.

Speaker 1: All right, good morning. Welcome to Octane. Welcome to Investor Summit. This is going to be a one-hour Q&A session with our top executives. We have Todd McKinnon, our CEO and co-founder, Brett Tighe, our CFO, Eric Kelleher, our COO, and John Addison, our CRO. This is for you. We're going to take questions in the room. We'll take them one at a time, and we'll start right away. David, if you want to. All right, good morning. all right good morning Welcome to Octane. welcome to octane Welcome to Investor Summit. welcome to investor summit This is going to be a one-hour Q&A session with our top executives. this is going to be a one-hour q&a session with our top executives We have Todd McKinnon, our CEO and co-founder, Brett Tighe, our CFO, Eric Kelleher, our COO, and John Addison, our CRO. we have todd mckinnon our ceo and co-founder brett tighe our cfo eric kelleher our coo and john addison our cro This is for you. this is for you We're going to take questions in the room. we're going to take questions in the room We'll take them one at a time, and we'll start right away. we'll take them one at a time and we'll start right away David, if you want to. david if you want to

Speaker 2: Maybe up front, I could just summarize the key points. Maybe up front, I could just summarize the key points. maybe up front i could just summarize the key points

Speaker 1: Absolutely. Absolutely. absolutely

Speaker 2: Would that make sense? Would that make sense? would that make sense

Speaker 1: Yep. Yep. yep

Speaker 2: Yeah. Hi, everyone. Thanks for joining us. I think this year at Octane, we have a very, very relevant message to deliver. Just in terms of what's going on in the world and the challenges and the opportunities everyone's facing. I think it's a message that people expect us to deliver. That's a, I think, a powerful combination. That message is, you know, for those of you that saw the keynote this morning, I'll kind of summarize it for you. It's basically that the insight that everyone's having is that AI really means agents and how agents can automate work and how agents can improve productivity and impacting all these different layers of the stack and all these different industries. When you break down what makes agent security real and valid and valuable, it's the fact that it's really identity security. These agents need access to different resources. Yeah. yeah Hi, everyone. hi everyone Thanks for joining us. thanks for joining us I think this year at Octane, we have a very, very relevant message to deliver. i think this year at octane we have a very very relevant message to deliver Just in terms of what's going on in the world and the challenges and the opportunities everyone's facing. just in terms of what's going on in the world and the challenges and the opportunities everyone's facing I think it's a message that people expect us to deliver. i think it's a message that people expect us to deliver That's a, I think, a powerful combination. that's a i think a powerful combination That message is, you know, for those of you that saw the keynote this morning, I'll kind of summarize it for you. that message is you know for those of you that saw the keynote this morning i'll kind of summarize it for you It's basically that the insight that everyone's having is that AI really means agents and how agents can automate work and how agents can improve productivity and impacting all these different layers of the stack and all these different industries. it's basically that the insight that everyone's having is that ai really means agents and how agents can automate work and how agents can improve productivity and impacting all these different layers of the stack and all these different industries When you break down what makes agent security real and valid and valuable, it's the fact that it's really identity security. when you break down what makes agent security real and valid and valuable it's the fact that it's really identity security These agents need access to different resources. these agents need access to different resources They need their own identities. You have to have visibility, governance, and control about what they access. In terms of about us being relevant, it's like exactly what people expect from us. We've been working on this for many years. Today we talked about three important innovations we're delivering to make this identity security foundation for the agentic world real and relevant and powerful. The first one is how we're bringing the, we're really defining this new category, this new category called identity security fabric. Identity security fabric. The way this works is that it's just like saying, you would say CRM. There's a category called CRM, and that's the combination of sales and marketing and service and support, where you would say ERP. That's a category that combines HR, financials, manufacturing. Identity security fabric is this category that combines governance, privileged access management, identity security posture management, access management. They need their own identities. they need their own identities You have to have visibility, governance, and control about what they access. you have to have visibility governance and control about what they access In terms of about us being relevant, it's like exactly what people expect from us. in terms of about us being relevant it's like exactly what people expect from us We've been working on this for many years. we've been working on this for many years Today we talked about three important innovations we're delivering to make this identity security foundation for the agentic world real and relevant and powerful. today we talked about three important innovations we're delivering to make this identity security foundation for the agentic world real and relevant and powerful The first one is how we're bringing the, we're really defining this new category, this new category called identity security fabric. the first one is how we're bringing the we're really defining this new category this new category called identity security fabric Identity security fabric. identity security fabric The way this works is that it's just like saying, you would say CRM. the way this works is that it's just like saying you would say crm There's a category called CRM, and that's the combination of sales and marketing and service and support, where you would say ERP. there's a category called crm and that's the combination of sales and marketing and service and support where you would say erp That's a category that combines HR, financials, manufacturing. that's a category that combines hr financials manufacturing Identity security fabric is this category that combines governance, privileged access management, identity security posture management, access management. identity security fabric is this category that combines governance privileged access management identity security posture management access management I think this is what customers want because if they want to have a solid foundation for security, AI, all the stuff they want to build on top of that, they have to get their identity security foundation in order. It has to have comprehensive coverage. It has to leave no gaps. It has to provide automation, orchestration, all the things, you know, we've been talking about. It has to be this new concept that people don't want to buy these individual products that, you know, maybe don't work great together. They don't want to buy separate vendors for all this stuff. They don't want to have to integrate vendors. They want an identity security fabric. We talked about how the Okta platform delivers that. It's the best example of this today in the industry. It's the most complete product set. It's cloud native. It's the most integrated. I think this is what customers want because if they want to have a solid foundation for security, AI, all the stuff they want to build on top of that, they have to get their identity security foundation in order. i think this is what customers want because if they want to have a solid foundation for security ai all the stuff they want to build on top of that they have to get their identity security foundation in order It has to have comprehensive coverage. it has to have comprehensive coverage It has to leave no gaps. it has to leave no gaps It has to provide automation, orchestration, all the things, you know, we've been talking about. it has to provide automation orchestration all the things you know we've been talking about It has to be this new concept that people don't want to buy these individual products that, you know, maybe don't work great together. it has to be this new concept that people don't want to buy these individual products that you know maybe don't work great together They don't want to buy separate vendors for all this stuff. they don't want to buy separate vendors for all this stuff They don't want to have to integrate vendors. they don't want to have to integrate vendors They want an identity security fabric. they want an identity security fabric We talked about how the Okta platform delivers that. we talked about how the okta platform delivers that It's the best example of this today in the industry. it's the best example of this today in the industry It's the most complete product set. it's the most complete product set It's cloud native. it's cloud native It's the most integrated. it's the most integrated It preserves choice and independence and neutrality. Now we're bringing AI agents into this platform with native support across the product suite. From identity security posture management, access management, to governance, privileged access, they all support this new identity type called an AI agent, which is kind of like a combination of a system account or a non-human identity and a person. It has attributes of both, and we've combined it across the entire product suite. That's the first set of announcements. The second set of announcements is how we're working with various efforts around standardization to help standardize how this concept of an identity security fabric interacts with this vast, complex array of technology in all these customers' environments. We talked about our progress on an open standard called IPSY. We talked about this new standard we're working on called cross-app access. It preserves choice and independence and neutrality. it preserves choice and independence and neutrality Now we're bringing AI agents into this platform with native support across the product suite. now we're bringing ai agents into this platform with native support across the product suite From identity security posture management, access management, to governance, privileged access, they all support this new identity type called an AI agent, which is kind of like a combination of a system account or a non-human identity and a person. from identity security posture management access management to governance privileged access they all support this new identity type called an ai agent which is kind of like a combination of a system account or a non-human identity and a person It has attributes of both, and we've combined it across the entire product suite. it has attributes of both and we've combined it across the entire product suite That's the first set of announcements. that's the first set of announcements The second set of announcements is how we're working with various efforts around standardization to help standardize how this concept of an identity security fabric interacts with this vast, complex array of technology in all these customers' environments. the second set of announcements is how we're working with various efforts around standardization to help standardize how this concept of an identity security fabric interacts with this vast complex array of technology in all these customers' environments We talked about our progress on an open standard called IPSY. we talked about our progress on an open standard called ipsy We talked about this new standard we're working on called cross-app access. we talked about this new standard we're working on called cross-app access It's just giving the identity security fabric more control and more visibility into the entire technology landscape, enabling faster adoption and more control and better outcomes. All toward the goal of doing more with AI. Finally, using our Auth0 platform, developers can build applications and agents and agentic systems that comply with these standards out of the box. If you build an application with Auth0, it connects into all these protocols like IPSY. It does cross-app access. It really helps people build fabric-ready things. Hopefully, you've got this sentiment if you talk to customers here at the show, but we've never seen interest from a new product area like we do about this one. Everyone wants to talk about this. The biggest companies in the world have this problem of AI agents, and they want to do more with agents. It's very exciting. Now, it's talk at this point. It's just giving the identity security fabric more control and more visibility into the entire technology landscape, enabling faster adoption and more control and better outcomes. it's just giving the identity security fabric more control and more visibility into the entire technology landscape enabling faster adoption and more control and better outcomes All toward the goal of doing more with AI. all toward the goal of doing more with ai Finally, using our Auth0 platform, developers can build applications and agents and agentic systems that comply with these standards out of the box. finally using our auth0 platform developers can build applications and agents and agentic systems that comply with these standards out of the box If you build an application with Auth0, it connects into all these protocols like IPSY. if you build an application with auth0 it connects into all these protocols like ipsy It does cross-app access. it does cross-app access It really helps people build fabric-ready things. it really helps people build fabric-ready things Hopefully, you've got this sentiment if you talk to customers here at the show, but we've never seen interest from a new product area like we do about this one. hopefully you've got this sentiment if you talk to customers here at the show but we've never seen interest from a new product area like we do about this one Everyone wants to talk about this. The biggest companies in the world have this problem of AI agents, and they want to do more with agents. everyone wants to talk about this. the biggest companies in the world have this problem of ai agents and they want to do more with agents It's very exciting. it's very exciting Now, it's talk at this point. now it's talk at this point The question will be how fast that translates into both people buying more of our products just to build this fabric and then over time actually buying more products specifically for AI agents. All these capabilities that I'm talking about are new. They're going to be new things that people pay for in addition to what they pay now for customer identities or employee identities. It's super exciting times, and we're great to, I'm excited to be here to talk with you all about it to help you get a better understanding. The question will be how fast that translates into both people buying more of our products just to build this fabric and then over time actually buying more products specifically for AI agents. the question will be how fast that translates into both people buying more of our products just to build this fabric and then over time actually buying more products specifically for ai agents All these capabilities that I'm talking about are new. all these capabilities that i'm talking about are new They're going to be new things that people pay for in addition to what they pay now for customer identities or employee identities. they're going to be new things that people pay for in addition to what they pay now for customer identities or employee identities It's super exciting times, and we're great to, I'm excited to be here to talk with you all about it to help you get a better understanding. it's super exciting times and we're great to i'm excited to be here to talk with you all about it to help you get a better understanding

Speaker 3: Hey, Eric Keith with KeyBank Capital Markets. Thanks for doing this and having a great time. Todd, maybe I'll just say at the onset, the amount of innovation that you're doing on AI agents and how forward-leaning you're being is, I think, unmatched in the industry. I appreciate that. On a couple of the things you talked about, for me, talking to your partners and your customers out there, I'd still say it's hard to find two people that agree or have the same message on how we're going to secure AI agents. I think you still just get a vast difference in people's approach, initial views on how it's going to be done. Where do you think we are, or where do you think we are in terms of maturity, standardization of how we're going to secure AI agents? Hey, Eric Keith with KeyBank Capital Markets. hey eric keith with keybank capital markets Thanks for doing this and having a great time. thanks for doing this and having a great time Todd, maybe I'll just say at the onset, the amount of innovation that you're doing on AI agents and how forward-leaning you're being is, I think, unmatched in the industry. todd maybe i'll just say at the onset the amount of innovation that you're doing on ai agents and how forward-leaning you're being is i think unmatched in the industry I appreciate that. i appreciate that On a couple of the things you talked about, for me, talking to your partners and your customers out there, I'd still say it's hard to find two people that agree or have the same message on how we're going to secure AI agents. on a couple of the things you talked about for me talking to your partners and your customers out there i'd still say it's hard to find two people that agree or have the same message on how we're going to secure ai agents I think you still just get a vast difference in people's approach, initial views on how it's going to be done. i think you still just get a vast difference in people's approach initial views on how it's going to be done Where do you think we are, or where do you think we are in terms of maturity, standardization of how we're going to secure AI agents? where do you think we are or where do you think we are in terms of maturity standardization of how we're going to secure ai agents Second, to the point you were leading with, look, we all want to see acceleration and growth. When do you think this really could be a growth driver for the business? Thanks. Second, to the point you were leading with, look, we all want to see acceleration and growth. second to the point you were leading with look we all want to see acceleration and growth When do you think this really could be a growth driver for the business? when do you think this really could be a growth driver for the business Thanks. thanks

Speaker 2: You're having those conversations before the keynote, right? They weren't, we weren't clearly explained to them about the vision of the future. I think it's a very important point and an important question. I see this, I think where we are as an industry is that in the last year, everyone agrees on the problem. I think it wasn't a hard case to make to the audience today that a big part of AI security is identity security. Agents are the way or what we have to fix, and that's an identity security problem. That was, we tried to clearly lay that out. I think, frankly, a lot of people understand that, or more people understand that than did a year ago. You're having those conversations before the keynote, right? you're having those conversations before the keynote right They weren't, we weren't clearly explained to them about the vision of the future. they weren't we weren't clearly explained to them about the vision of the future I think it's a very important point and an important question. i think it's a very important point and an important question I see this, I think where we are as an industry is that in the last year, everyone agrees on the problem. i see this i think where we are as an industry is that in the last year everyone agrees on the problem I think it wasn't a hard case to make to the audience today that a big part of AI security is identity security. i think it wasn't a hard case to make to the audience today that a big part of ai security is identity security Agents are the way or what we have to fix, and that's an identity security problem. agents are the way or what we have to fix and that's an identity security problem That was, we tried to clearly lay that out. that was we tried to clearly lay that out I think, frankly, a lot of people understand that, or more people understand that than did a year ago. i think frankly a lot of people understand that or more people understand that than did a year ago I think that the solution, how to go from all this energy around companies adopting and building these tools and adopting all this wave of innovation coming from all the technology providers and translating to actually how they do that, we're still figuring that out as an industry, and we're hoping to lead there. The first necessary and present condition is the amount of interest and the amount of inbound really concrete exploration that customers are doing around our solutions. I think the first wave is really going to be customers thinking about this concept of fabric and how they can normalize this complexity with one vendor and this one stop shop for identity. That's the first thing that's going to help us grow faster, I think. Actually, the agentic part of it will kick in later. I think that the solution, how to go from all this energy around companies adopting and building these tools and adopting all this wave of innovation coming from all the technology providers and translating to actually how they do that, we're still figuring that out as an industry, and we're hoping to lead there. i think that the solution how to go from all this energy around companies adopting and building these tools and adopting all this wave of innovation coming from all the technology providers and translating to actually how they do that we're still figuring that out as an industry and we're hoping to lead there The first necessary and present condition is the amount of interest and the amount of inbound really concrete exploration that customers are doing around our solutions. the first necessary and present condition is the amount of interest and the amount of inbound really concrete exploration that customers are doing around our solutions I think the first wave is really going to be customers thinking about this concept of fabric and how they can normalize this complexity with one vendor and this one stop shop for identity. i think the first wave is really going to be customers thinking about this concept of fabric and how they can normalize this complexity with one vendor and this one stop shop for identity That's the first thing that's going to help us grow faster, I think. that's the first thing that's going to help us grow faster i think Actually, the agentic part of it will kick in later. actually the agentic part of it will kick in later I think there's a lot of potential opportunities for growth here coming out of this. I think there's a lot of potential opportunities for growth here coming out of this. i think there's a lot of potential opportunities for growth here coming out of this

Speaker 4: Great. Mita Marshall from Morgan Stanley. Just a question on the cross-app access and just how critical it is to get buy-in from other partners in order to fulfill the vision of the identity security fabric. Great. great Mita Marshall from Morgan Stanley. mita marshall from morgan stanley Just a question on the cross-app access and just how critical it is to get buy-in from other partners in order to fulfill the vision of the identity security fabric. just a question on the cross-app access and just how critical it is to get buy-in from other partners in order to fulfill the vision of the identity security fabric

Speaker 2: Yeah. Brett is the expert on cross-app access. It is very important, and it's not going to happen overnight. One thing to understand too is that a lot of the benefits of managing AI agents in Okta and vaulting the credentials and having governance and ownership clearly outlined on who in the organization owns the agent, there's a lot of value there if cross-app access never takes off. That's the first thing to understand. You're going to want to discover these AI agents. You're going to want to track them. You can do that all without cross-app access. Cross-app access is a future-oriented way to make it all work even better. This is going to take time. Yeah. yeah Brett is the expert on cross-app access. brett is the expert on cross-app access It is very important, and it's not going to happen overnight. it is very important and it's not going to happen overnight One thing to understand too is that a lot of the benefits of managing AI agents in Okta and vaulting the credentials and having governance and ownership clearly outlined on who in the organization owns the agent, there's a lot of value there if cross-app access never takes off. one thing to understand too is that a lot of the benefits of managing ai agents in okta and vaulting the credentials and having governance and ownership clearly outlined on who in the organization owns the agent there's a lot of value there if cross-app access never takes off That's the first thing to understand. that's the first thing to understand You're going to want to discover these AI agents. you're going to want to discover these ai agents You're going to want to track them. you're going to want to track them You can do that all without cross-app access. you can do that all without cross-app access Cross-app access is a future-oriented way to make it all work even better. cross-app access is a future-oriented way to make it all work even better This is going to take time. this is going to take time You have to propose the standard, get agreement on it, build it into the products, get technology providers to adopt it, and then get more demand for it so more other technology companies build it. The standard is important because none of these technology companies, Box or Google or Amazon or Microsoft, want to build something that's only going to work for one environment. They want to have an open protocol, and that's important. It's going to take some time. The only way it has a chance, which makes me so excited about it, is that it has to solve a need that these technology providers see. You have to propose the standard, get agreement on it, build it into the products, get technology providers to adopt it, and then get more demand for it so more other technology companies build it. The standard is important because none of these technology companies, Box or Google or Amazon or Microsoft, want to build something that's only going to work for one environment. you have to propose the standard get agreement on it build it into the products get technology providers to adopt it and then get more demand for it so more other technology companies build it. the standard is important because none of these technology companies box or google or amazon or microsoft want to build something that's only going to work for one environment They want to have an open protocol, and that's important. they want to have an open protocol and that's important It's going to take some time. it's going to take some time The only way it has a chance, which makes me so excited about it, is that it has to solve a need that these technology providers see. the only way it has a chance which makes me so excited about it is that it has to solve a need that these technology providers see The reason why we started working on this over two years ago was because we were talking to all these SaaS applications that were trying to roll out their applications in these environments, and setting up all these cross-system grants between users was a mess. They would try to roll out these awesome innovations they had, and it's like, yeah, but it takes the company six weeks to set up all the allow this thing and grant this thing. That's why we started building it. Only later did we realize it's perfect built for this world of AI agents because AI agents are inherently cross-app. They're inherently connections of multiple systems. It's a long-winded way of saying that the technology vendors want this, and that's why I think the reception has been so high. That's what you need to get this stuff started. The reason why we started working on this over two years ago was because we were talking to all these SaaS applications that were trying to roll out their applications in these environments, and setting up all these cross-system grants between users was a mess. the reason why we started working on this over two years ago was because we were talking to all these saas applications that were trying to roll out their applications in these environments and setting up all these cross-system grants between users was a mess They would try to roll out these awesome innovations they had, and it's like, yeah, but it takes the company six weeks to set up all the allow this thing and grant this thing. they would try to roll out these awesome innovations they had and it's like yeah but it takes the company six weeks to set up all the allow this thing and grant this thing That's why we started building it. that's why we started building it Only later did we realize it's perfect built for this world of AI agents because AI agents are inherently cross-app. only later did we realize it's perfect built for this world of ai agents because ai agents are inherently cross-app They're inherently connections of multiple systems. they're inherently connections of multiple systems It's a long-winded way of saying that the technology vendors want this, and that's why I think the reception has been so high. it's a long-winded way of saying that the technology vendors want this and that's why i think the reception has been so high That's what you need to get this stuff started. that's what you need to get this stuff started If you try to make up some standard that no one cares about the problem, you're really kind of fighting against the wind. We think we really have a tailwind on this one. If you try to make up some standard that no one cares about the problem, you're really kind of fighting against the wind. if you try to make up some standard that no one cares about the problem you're really kind of fighting against the wind We think we really have a tailwind on this one. we think we really have a tailwind on this one

Speaker 5: You can see that we had an event about a month ago with 1,100 people from ISVs who are interested in this and want to be able to implement it. That's just, you know, just pure quant, but it's pretty nice to see that kind of level of interest. We had a bunch of good companies on the page today, but there's going to be more and more as the months and quarters move on. I love that pure quant. I think that's awesome. You can see that we had an event about a month ago with 1,100 people from ISVs who are interested in this and want to be able to implement it. you can see that we had an event about a month ago with 1,100 people from isvs who are interested in this and want to be able to implement it That's just, you know, just pure quant, but it's pretty nice to see that kind of level of interest. that's just you know just pure quant but it's pretty nice to see that kind of level of interest We had a bunch of good companies on the page today, but there's going to be more and more as the months and quarters move on. we had a bunch of good companies on the page today but there's going to be more and more as the months and quarters move on I love that pure quant. i love that pure quant I think that's awesome. i think that's awesome Just to add to that, the keynote, for those of you that have not yet seen this morning's keynote, please go back and watch it. It really does a nice job framing up our vision, Todd's vision, Okta's vision on these topics specifically. At this time of the year, it's when we paint a vision for where the market is going and how Okta is skating to where the puck is going to be. What's interesting this year about the message around securing AI agents is our customers are all in it with us. They're all right here. This transformation is happening for the industry just so quickly that this conversation is a real conversation. In your briefing package, you'll see some data. We just conducted a survey of a few hundred companies. Over 90% of them have agents in production. Just to add to that, the keynote, for those of you that have not yet seen this morning's keynote, please go back and watch it. just to add to that the keynote for those of you that have not yet seen this morning's keynote please go back and watch it It really does a nice job framing up our vision, Todd's vision, Okta's vision on these topics specifically. it really does a nice job framing up our vision todd's vision okta's vision on these topics specifically At this time of the year, it's when we paint a vision for where the market is going and how Okta is skating to where the puck is going to be. at this time of the year it's when we paint a vision for where the market is going and how okta is skating to where the puck is going to be What's interesting this year about the message around securing AI agents is our customers are all in it with us. what's interesting this year about the message around securing ai agents is our customers are all in it with us They're all right here. they're all right here This transformation is happening for the industry just so quickly that this conversation is a real conversation. this transformation is happening for the industry just so quickly that this conversation is a real conversation In your briefing package, you'll see some data. in your briefing package you'll see some data We just conducted a survey of a few hundred companies. we just conducted a survey of a few hundred companies Over 90% of them have agents in production. over 90% of them have agents in production 10% of them say that they're confident they're actually governing the agents. That is a shocking split between people that are deploying the technology and saying, just go fast, innovate, and solve what you can solve. Let's have confidence that these agents are appropriately governed and used in our stack and secured within the stack. All of the work that we described today on the identity security fabric is designed to help companies bridge that gap and allow them to continue to innovate with agents, but do it in a way where they're securing those agents properly and governing them with policies and rules that they choose. There was a demo in the keynote where we showed how security posture management will identify rogue agents that have been deployed and haven't been purposely cataloged and put in a directory and governed. 10% of them say that they're confident they're actually governing the agents. 10% of them say that they're confident they're actually governing the agents That is a shocking split between people that are deploying the technology and saying, just go fast, innovate, and solve what you can solve. that is a shocking split between people that are deploying the technology and saying just go fast innovate and solve what you can solve Let's have confidence that these agents are appropriately governed and used in our stack and secured within the stack. let's have confidence that these agents are appropriately governed and used in our stack and secured within the stack All of the work that we described today on the identity security fabric is designed to help companies bridge that gap and allow them to continue to innovate with agents, but do it in a way where they're securing those agents properly and governing them with policies and rules that they choose. all of the work that we described today on the identity security fabric is designed to help companies bridge that gap and allow them to continue to innovate with agents but do it in a way where they're securing those agents properly and governing them with policies and rules that they choose There was a demo in the keynote where we showed how security posture management will identify rogue agents that have been deployed and haven't been purposely cataloged and put in a directory and governed. there was a demo in the keynote where we showed how security posture management will identify rogue agents that have been deployed and haven't been purposely cataloged and put in a directory and governed Cross-app access as a capability for people building agents will allow them to be deployed. These 1,100 ISVs that attended our event last month that Brett mentioned, they all have the problem that they want to sell products and they want to sell agents, but their customers don't want rogue agents. Their customers are only going to deploy agents that they know that they can properly secure. We're very optimistic that cross-app access has a lot of interest already because everyone needs to solve this problem. It's not a problem they need to solve three years from now. It's a problem they need to solve today. They're already behind. We feel very confident in how that's going to play out. Cross-app access as a capability for people building agents will allow them to be deployed. cross-app access as a capability for people building agents will allow them to be deployed These 1,100 ISVs that attended our event last month that Brett mentioned, they all have the problem that they want to sell products and they want to sell agents, but their customers don't want rogue agents. these 1,100 isvs that attended our event last month that brett mentioned they all have the problem that they want to sell products and they want to sell agents but their customers don't want rogue agents Their customers are only going to deploy agents that they know that they can properly secure. their customers are only going to deploy agents that they know that they can properly secure We're very optimistic that cross-app access has a lot of interest already because everyone needs to solve this problem. we're very optimistic that cross-app access has a lot of interest already because everyone needs to solve this problem It's not a problem they need to solve three years from now. it's not a problem they need to solve three years from now It's a problem they need to solve today. it's a problem they need to solve today They're already behind. they're already behind We feel very confident in how that's going to play out. we feel very confident in how that's going to play out

Speaker 6: Janae Siddiqui, Truist Securities. Todd, we're seeing this increasing convergence between identity and data security in this age of agentic AI. Could you talk about how you're positioned to bridge identity security with data governance so customers can enforce consistent policies across users and data? Is that an area that makes sense to expand to? Janae Siddiqui, Truist Securities. janae siddiqui truist securities Todd, we're seeing this increasing convergence between identity and data security in this age of agentic AI. todd we're seeing this increasing convergence between identity and data security in this age of agentic ai Could you talk about how you're positioned to bridge identity security with data governance so customers can enforce consistent policies across users and data? could you talk about how you're positioned to bridge identity security with data governance so customers can enforce consistent policies across users and data Is that an area that makes sense to expand to? is that an area that makes sense to expand to

Speaker 2: It's inherently related, and we see that in all of our, we hear that in all of our customer conversations. There are different kinds of technology resources. There are the applications that have all the roles and the groups and the permissions that kind of implicitly define who can access the data or explicitly define who can access the data. Then there are things like data warehouse where it's like the whole thing is data, and it's just about specifying the rules on who can access what. It always links back to an identity. By the way, the really important thing in agents is getting them the data. That is why identity security is such an important part of the combination there. It's inherently related, and we see that in all of our, we hear that in all of our customer conversations. There are different kinds of technology resources. There are the applications that have all the roles and the groups and the permissions that kind of implicitly define who can access the data or explicitly define who can access the data. it's inherently related and we see that in all of our we hear that in all of our customer conversations. there are different kinds of technology resources. there are the applications that have all the roles and the groups and the permissions that kind of implicitly define who can access the data or explicitly define who can access the data Then there are things like data warehouse where it's like the whole thing is data, and it's just about specifying the rules on who can access what. then there are things like data warehouse where it's like the whole thing is data and it's just about specifying the rules on who can access what It always links back to an identity. it always links back to an identity By the way, the really important thing in agents is getting them the data. by the way the really important thing in agents is getting them the data That is why identity security is such an important part of the combination there. that is why identity security is such an important part of the combination there One question I get often is, everyone says they are going to, everyone in the security world says they are going to secure AI agents, and who is really going to do it? Who is going to win? This is kind of like the same with identity and data governance and data security posture management and that whole category and network and endpoint. I think the reality is that they are all going to play a role. I think it is naive to think that there is going to be, saying there is going to be one single security solution to secure all of agents, and once everything is agents, all you are going to need is one security solution, I think it is pretty naive. We need a multi-layered approach, and I think all of the major pillars of zero trust are going to have an important role there. One question I get often is, everyone says they are going to, everyone in the security world says they are going to secure AI agents, and who is really going to do it? one question i get often is everyone says they are going to everyone in the security world says they are going to secure ai agents and who is really going to do it Who is going to win? who is going to win This is kind of like the same with identity and data governance and data security posture management and that whole category and network and endpoint. this is kind of like the same with identity and data governance and data security posture management and that whole category and network and endpoint I think the reality is that they are all going to play a role. i think the reality is that they are all going to play a role I think it is naive to think that there is going to be, saying there is going to be one single security solution to secure all of agents, and once everything is agents, all you are going to need is one security solution, I think it is pretty naive. i think it is naive to think that there is going to be saying there is going to be one single security solution to secure all of agents and once everything is agents all you are going to need is one security solution i think it is pretty naive We need a multi-layered approach, and I think all of the major pillars of zero trust are going to have an important role there. we need a multi-layered approach and i think all of the major pillars of zero trust are going to have an important role there I think the world underestimates how dependent it all is on identity, just like in zero trust. A lot of zero trust is dependent on identity. It is not going to be the one, that is why I think it is a mistake to think about, oh, there is going to be one company that does everything in security. I think trying to consolidate all of security is very challenging. I think consolidating in identity is super valuable and I think doable. You know, taking a company from 50 vendors down to one vendor is very doable. I think it is pretty hard to take a company from all the security tools they have down to one, simply put, just because they need different types of security tools to be the most secure. I think the world underestimates how dependent it all is on identity, just like in zero trust. i think the world underestimates how dependent it all is on identity just like in zero trust A lot of zero trust is dependent on identity. a lot of zero trust is dependent on identity It is not going to be the one, that is why I think it is a mistake to think about, oh, there is going to be one company that does everything in security. it is not going to be the one, that is why i think it is a mistake to think about oh, there is going to be one company that does everything in security I think trying to consolidate all of security is very challenging. i think trying to consolidate all of security is very challenging I think consolidating in identity is super valuable and I think doable. i think consolidating in identity is super valuable and i think doable You know, taking a company from 50 vendors down to one vendor is very doable. you know taking a company from 50 vendors down to one vendor is very doable I think it is pretty hard to take a company from all the security tools they have down to one, simply put, just because they need different types of security tools to be the most secure. i think it is pretty hard to take a company from all the security tools they have down to one simply put just because they need different types of security tools to be the most secure

Speaker 7: Patrick Colville from Scotiabank. Thank you guys for having us. I've spoken to about 12 customers over the last 24 hours and asked all of them, you know, are you here at Octane to learn about agentic AI security? Interestingly, not a single one said yes. They all said, no, we're here for kind of, you know, PAM, governance, et cetera. I'm going to ask about agentic AI security because that's the hot button issue. When you're talking about cross-app access, isn't that a protocol? I guess how do you monetize a protocol? The reason I started with that opening statement is because I want to bring Brett in. When will this monetization start hitting the financial model? If customers aren't here for that now, is this a 2026 thing or maybe even like 2027? Patrick Colville from Scotiabank. patrick colville from scotiabank Thank you guys for having us. thank you guys for having us I've spoken to about 12 customers over the last 24 hours and asked all of them, you know, are you here at Octane to learn about agentic AI security? i've spoken to about 12 customers over the last 24 hours and asked all of them you know are you here at octane to learn about agentic ai security Interestingly, not a single one said yes. interestingly not a single one said yes They all said, no, we're here for kind of, you know, PAM, governance, et cetera. they all said no we're here for kind of you know pam governance et cetera I'm going to ask about agentic AI security because that's the hot button issue. i'm going to ask about agentic ai security because that's the hot button issue When you're talking about cross-app access, isn't that a protocol? when you're talking about cross-app access isn't that a protocol I guess how do you monetize a protocol? i guess how do you monetize a protocol The reason I started with that opening statement is because I want to bring Brett in. the reason i started with that opening statement is because i want to bring brett in When will this monetization start hitting the financial model? when will this monetization start hitting the financial model If customers aren't here for that now, is this a 2026 thing or maybe even like 2027? if customers aren't here for that now is this a 2026 thing or maybe even like 2027

Speaker 2: I think this concept of an identity security fabric and a one-stop shop for all of these formerly separate categories is a big growth driver for us. We're investing heavily in R&D to build out these products beyond access management, as we've talked about for many years. The reason they're here is to buy all of our new products because we have a lot of great new products to sell. Making sure the industry understands that this is where the category is going and we're going to capture that category is a very important part of the messaging we're delivering to the market. The outcomes are great for everyone. I think the customers that you talk to know that. You don't monetize a protocol. Cross-app access is an open protocol that basically, strategically, the way we think about all these standards is they make identity more valuable. I think this concept of an identity security fabric and a one-stop shop for all of these formerly separate categories is a big growth driver for us. i think this concept of an identity security fabric and a one-stop shop for all of these formerly separate categories is a big growth driver for us We're investing heavily in R&D to build out these products beyond access management, as we've talked about for many years. we're investing heavily in r&d to build out these products beyond access management as we've talked about for many years The reason they're here is to buy all of our new products because we have a lot of great new products to sell. the reason they're here is to buy all of our new products because we have a lot of great new products to sell Making sure the industry understands that this is where the category is going and we're going to capture that category is a very important part of the messaging we're delivering to the market. making sure the industry understands that this is where the category is going and we're going to capture that category is a very important part of the messaging we're delivering to the market The outcomes are great for everyone. the outcomes are great for everyone I think the customers that you talk to know that. i think the customers that you talk to know that You don't monetize a protocol. you don't monetize a protocol Cross-app access is an open protocol that basically, strategically, the way we think about all these standards is they make identity more valuable. cross-app access is an open protocol that basically strategically the way we think about all these standards is they make identity more valuable They make identity able to do more, able to drive better security outcomes, able to give customers less friction in adopting technology. It's a little bit, you know, a benefit to the entire industry, but we benefit tremendously by the fact that identity tools are easier to implement, easier to upgrade, easier. A big opportunity for us is just making the change cost easier. When these companies want to consolidate vendors, making that incredibly easy. We do that in a lot of different ways. We do that in investing heavily with partnerships with systems integrators. We do that by building a lot of core technology, by evangelizing open standards. We want customers to get to this better world. By the way, by supporting this powerful new identity type, we're going to make it over time. I think it will take time. They make identity able to do more, able to drive better security outcomes, able to give customers less friction in adopting technology. they make identity able to do more able to drive better security outcomes able to give customers less friction in adopting technology It's a little bit, you know, a benefit to the entire industry, but we benefit tremendously by the fact that identity tools are easier to implement, easier to upgrade, easier. it's a little bit you know a benefit to the entire industry but we benefit tremendously by the fact that identity tools are easier to implement easier to upgrade easier A big opportunity for us is just making the change cost easier. a big opportunity for us is just making the change cost easier When these companies want to consolidate vendors, making that incredibly easy. when these companies want to consolidate vendors making that incredibly easy We do that in a lot of different ways. we do that in a lot of different ways We do that in investing heavily with partnerships with systems integrators. we do that in investing heavily with partnerships with systems integrators We do that by building a lot of core technology, by evangelizing open standards. we do that by building a lot of core technology by evangelizing open standards We want customers to get to this better world. we want customers to get to this better world By the way, by supporting this powerful new identity type, we're going to make it over time. by the way by supporting this powerful new identity type we're going to make it over time I think it will take time. i think it will take time Like I've said before, I think the near-term opportunities are a lot about the broad product portfolio and consolidating legacy and large enterprise. The agentic thing is real. Next year, we'll be talking a little bit more about it. You'll see more tangible business drivers in the following years. It's going to be a big deal. Like I've said before, I think the near-term opportunities are a lot about the broad product portfolio and consolidating legacy and large enterprise. like i've said before i think the near-term opportunities are a lot about the broad product portfolio and consolidating legacy and large enterprise The agentic thing is real. the agentic thing is real Next year, we'll be talking a little bit more about it. next year we'll be talking a little bit more about it You'll see more tangible business drivers in the following years. you'll see more tangible business drivers in the following years It's going to be a big deal. it's going to be a big deal

Speaker 5: I think that, go ahead, you go first. The keynote is, and our vision and the narrative that we're really emphasizing this year is on this very timely urgency around the gap I talked about earlier between agents being in the wild and how they're being governed today. You'll see throughout the demos and the platform keynotes that follow and the sessions that follow as well about how we're helping secure agents in this idea. The core premise of all of this is that we've elevated agentic identity as a first-level identity. Just like a human identity and non-human machine identity, we'll now have agentic identity. We have tons of product announcements coming out this week about all of the products in that identity security fabric for all three of those use cases, the human, non-human, and the agentic. I think that, go ahead, you go first. i think that go ahead you go first The keynote is, and our vision and the narrative that we're really emphasizing this year is on this very timely urgency around the gap I talked about earlier between agents being in the wild and how they're being governed today. the keynote is and our vision and the narrative that we're really emphasizing this year is on this very timely urgency around the gap i talked about earlier between agents being in the wild and how they're being governed today You'll see throughout the demos and the platform keynotes that follow and the sessions that follow as well about how we're helping secure agents in this idea. you'll see throughout the demos and the platform keynotes that follow and the sessions that follow as well about how we're helping secure agents in this idea The core premise of all of this is that we've elevated agentic identity as a first-level identity. the core premise of all of this is that we've elevated agentic identity as a first-level identity Just like a human identity and non-human machine identity, we'll now have agentic identity. just like a human identity and non-human machine identity we'll now have agentic identity We have tons of product announcements coming out this week about all of the products in that identity security fabric for all three of those use cases, the human, non-human, and the agentic. we have tons of product announcements coming out this week about all of the products in that identity security fabric for all three of those use cases the human non-human and the agentic Our governance product, for example, earlier this year, we announced a connection for on-prem applications and also separation of duties. We're announcing this week that that is now available for federal use cases as well and now available to new customers there. We have new announcements on our privileged access product, as well as all of our access management categories. On the protocol of cross-app access specifically, one of the things we'll be announcing in the Auth0 platform keynote is for anyone who's developing agents using Auth0, they will inherently support cross-app access. It's a radio button you click to support the protocol when you publish your code. There are opportunities for us to lean into the standards as they become more adopted in the industry. To your point, the protocol itself is not what we monetize. It's the security that we can provide better with support for the protocol. Our governance product, for example, earlier this year, we announced a connection for on-prem applications and also separation of duties. our governance product for example earlier this year we announced a connection for on-prem applications and also separation of duties We're announcing this week that that is now available for federal use cases as well and now available to new customers there. we're announcing this week that that is now available for federal use cases as well and now available to new customers there We have new announcements on our privileged access product, as well as all of our access management categories. we have new announcements on our privileged access product as well as all of our access management categories On the protocol of cross-app access specifically, one of the things we'll be announcing in the Auth0 platform keynote is for anyone who's developing agents using Auth0, they will inherently support cross-app access. on the protocol of cross-app access specifically one of the things we'll be announcing in the auth0 platform keynote is for anyone who's developing agents using auth0 they will inherently support cross-app access It's a radio button you click to support the protocol when you publish your code. it's a radio button you click to support the protocol when you publish your code There are opportunities for us to lean into the standards as they become more adopted in the industry. there are opportunities for us to lean into the standards as they become more adopted in the industry To your point, the protocol itself is not what we monetize. to your point the protocol itself is not what we monetize It's the security that we can provide better with support for the protocol. it's the security that we can provide better with support for the protocol

Speaker 8: I think I'd say as the person who leads the field team, the best thing about going to market with this new message is it just highlights Okta's strengths. Our independence, our neutrality, our cloud-native position. When the field are learning about the relevance of our identity security fabric for human, non-human identity and agents, it's a pretty easy leap for them to actually get how that works because underpinning it is the value of our platform. How we excel in access management, identity governance, and privileged access management, secure posture management, that all relates to the management of agents as well as non-human and human identities. We feel pretty good about how we can cross the chasm with our customers and help them understand that. I think I'd say as the person who leads the field team, the best thing about going to market with this new message is it just highlights Okta's strengths. i think i'd say as the person who leads the field team the best thing about going to market with this new message is it just highlights okta's strengths Our independence, our neutrality, our cloud-native position. our independence our neutrality our cloud-native position When the field are learning about the relevance of our identity security fabric for human, non-human identity and agents, it's a pretty easy leap for them to actually get how that works because underpinning it is the value of our platform. when the field are learning about the relevance of our identity security fabric for human non-human identity and agents it's a pretty easy leap for them to actually get how that works because underpinning it is the value of our platform How we excel in access management, identity governance, and privileged access management, secure posture management, that all relates to the management of agents as well as non-human and human identities. how we excel in access management identity governance and privileged access management secure posture management that all relates to the management of agents as well as non-human and human identities We feel pretty good about how we can cross the chasm with our customers and help them understand that. we feel pretty good about how we can cross the chasm with our customers and help them understand that

Speaker 2: I was just going to add, Patrick, about your growth algorithm question, it will take time, like Todd was saying. Think of it at what we've done with governance, right? We've made that product really good. You've seen the impact to the financials, hands coming along, Device Access, all these things we talk about. Identity Security Posture Management, it just takes time. It's just another thing that we have in the toolkit for John and his team for them to sell as the world changes over time, as agentic AI becomes more and more embedded in the way the tech stack works. I was just going to add, Patrick, about your growth algorithm question, it will take time, like Todd was saying. i was just going to add patrick about your growth algorithm question it will take time like todd was saying Think of it at what we've done with governance, right? think of it at what we've done with governance right We've made that product really good. we've made that product really good You've seen the impact to the financials, hands coming along, Device Access, all these things we talk about. Identity Security Posture Management, it just takes time. you've seen the impact to the financials hands coming along device access all these things we talk about. identity security posture management it just takes time It's just another thing that we have in the toolkit for John and his team for them to sell as the world changes over time, as agentic AI becomes more and more embedded in the way the tech stack works. it's just another thing that we have in the toolkit for john and his team for them to sell as the world changes over time as agentic ai becomes more and more embedded in the way the tech stack works

Speaker 8: I asked you to check in with the partners. We spent a whole day with them yesterday. You know, they're having lots of meaningful conversations now about this. It's a real concern for our customers and prospects. It's not just in our install base's concern. It's real and it's happening now. I asked you to check in with the partners. i asked you to check in with the partners We spent a whole day with them yesterday. we spent a whole day with them yesterday You know, they're having lots of meaningful conversations now about this. you know they're having lots of meaningful conversations now about this It's a real concern for our customers and prospects. it's a real concern for our customers and prospects It's not just in our install base's concern. it's not just in our install base's concern It's real and it's happening now. it's real and it's happening now

Speaker 9: Rudy Kessinger, Diya Jolly, similar line of questioning. We've spoken to over a dozen customers as well. Opposite of Patrick, actually, most of them are interested in your AI security capabilities at the same time. Rudy Kessinger, Diya Jolly, similar line of questioning. rudy kessinger diya jolly similar line of questioning We've spoken to over a dozen customers as well. we've spoken to over a dozen customers as well Opposite of Patrick, actually, most of them are interested in your AI security capabilities at the same time. opposite of patrick actually most of them are interested in your ai security capabilities at the same time

Speaker 2: Oh, this was after the keynote? Oh, this was after the keynote? oh this was after the keynote Oh, this was actually yesterday we were here, you know, all throughout. At the same time, most of them tell us we're not even close to rolling out AI agents broadly anytime soon. I think that's typical, yeah. Oh, this was actually yesterday we were here, you know, all throughout. oh this was actually yesterday we were here you know all throughout At the same time, most of them tell us we're not even close to rolling out AI agents broadly anytime soon. at the same time most of them tell us we're not even close to rolling out ai agents broadly anytime soon I think that's typical, yeah. i think that's typical yeah Right. If the product's going to be GA sometime next year, I'm going to go out on a limb and assume we're not going to see any material contribution till FY28. A lot of people in the room want to see improved growth sometime before then. How do you make sure you're not overallocating too much time, energy, resources into developing those solutions when you could be allocating that time, energy, and resources into more near-term opportunities that could drive growth? What was the last thing? Near-term opportunities, like what? Near-term, investing in other near-term opportunities. Right. right If the product's going to be GA sometime next year, I'm going to go out on a limb and assume we're not going to see any material contribution till FY28. if the product's going to be ga sometime next year i'm going to go out on a limb and assume we're not going to see any material contribution till fy28 A lot of people in the room want to see improved growth sometime before then. a lot of people in the room want to see improved growth sometime before then How do you make sure you're not overallocating too much time, energy, resources into developing those solutions when you could be allocating that time, energy, and resources into more near-term opportunities that could drive growth? how do you make sure you're not overallocating too much time energy resources into developing those solutions when you could be allocating that time energy and resources into more near-term opportunities that could drive growth What was the last thing? what was the last thing Near-term opportunities, like what? near-term opportunities like what Near-term, investing in other near-term opportunities. near-term investing in other near-term opportunities Another near-term, yeah. It's really a good question. I think about it this way. We're getting a lot of, in building all the capabilities for AI agents, there's a lot of leverage in the foundational stuff we have to do all around. For example, there's a lot of leverage in what we've done for privileged access management and the vaulting and the rotation and what we've done in governance for the governance workflows around certifying that things still need access to things. We're getting a lot of leverage there. Another near-term, yeah. another near-term yeah It's really a good question. it's really a good question I think about it this way. i think about it this way We're getting a lot of, in building all the capabilities for AI agents, there's a lot of leverage in the foundational stuff we have to do all around. we're getting a lot of in building all the capabilities for ai agents there's a lot of leverage in the foundational stuff we have to do all around For example, there's a lot of leverage in what we've done for privileged access management and the vaulting and the rotation and what we've done in governance for the governance workflows around certifying that things still need access to things. for example there's a lot of leverage in what we've done for privileged access management and the vaulting and the rotation and what we've done in governance for the governance workflows around certifying that things still need access to things We're getting a lot of leverage there. we're getting a lot of leverage there When I talked to the team about as we were innovating and building all this stuff, I said it's very important in these things that we get real customer input because there's a lot of hype and a lot of excitement around AI, and I wanted to ground the team as we built this in real tangible customer input on what they actually needed. I think what we found is that there was a lot of overlap with the use cases around governance and privilege and having this end-to-end fabric and just taking that final mile to AI agents is something that's valuable, but doesn't put us down a path that could turn out to be fool's gold because it's some, you know, thing that no one turns out to really need. When I talked to the team about as we were innovating and building all this stuff, I said it's very important in these things that we get real customer input because there's a lot of hype and a lot of excitement around AI, and I wanted to ground the team as we built this in real tangible customer input on what they actually needed. when i talked to the team about as we were innovating and building all this stuff i said it's very important in these things that we get real customer input because there's a lot of hype and a lot of excitement around ai and i wanted to ground the team as we built this in real tangible customer input on what they actually needed I think what we found is that there was a lot of overlap with the use cases around governance and privilege and having this end-to-end fabric and just taking that final mile to AI agents is something that's valuable, but doesn't put us down a path that could turn out to be fool's gold because it's some, you know, thing that no one turns out to really need. i think what we found is that there was a lot of overlap with the use cases around governance and privilege and having this end-to-end fabric and just taking that final mile to ai agents is something that's valuable but doesn't put us down a path that could turn out to be fool's gold because it's some you know thing that no one turns out to really need

Speaker 5: Yeah, I think the core use cases of authentication and authorization apply to agentic identity the same way they do to a human identity, for example. When an agent takes an action, you need to be able to verify that it is who it says it is. You need to authenticate, and it's not being impersonated by a threat actor. When it takes that action, you need to verify that it has access to do the thing that it's trying to do and needs to be authorized. The tooling we provide around authentication for human identities, that infrastructure applies directly to authentication for agentic identities. Our fine-grained authorization with the Osero platform for building agents allows you to build in authorization controls as well. There's a lot of leverage and overlap in capabilities between the features we're deploying for human and machine use cases that apply to agentic as well. Yeah, I think the core use cases of authentication and authorization apply to agentic identity the same way they do to a human identity, for example. yeah i think the core use cases of authentication and authorization apply to agentic identity the same way they do to a human identity for example When an agent takes an action, you need to be able to verify that it is who it says it is. when an agent takes an action you need to be able to verify that it is who it says it is You need to authenticate, and it's not being impersonated by a threat actor. you need to authenticate and it's not being impersonated by a threat actor When it takes that action, you need to verify that it has access to do the thing that it's trying to do and needs to be authorized. when it takes that action you need to verify that it has access to do the thing that it's trying to do and needs to be authorized The tooling we provide around authentication for human identities, that infrastructure applies directly to authentication for agentic identities. the tooling we provide around authentication for human identities that infrastructure applies directly to authentication for agentic identities Our fine-grained authorization with the Osero platform for building agents allows you to build in authorization controls as well. our fine-grained authorization with the osero platform for building agents allows you to build in authorization controls as well There's a lot of leverage and overlap in capabilities between the features we're deploying for human and machine use cases that apply to agentic as well. there's a lot of leverage and overlap in capabilities between the features we're deploying for human and machine use cases that apply to agentic as well It's one of the reasons why this isn't a, it's not a new launch of a new platform. It's an extension of our identity security fabric to also support agentic identity. It's one of the reasons why this isn't a, it's not a new launch of a new platform. it's one of the reasons why this isn't a it's not a new launch of a new platform It's an extension of our identity security fabric to also support agentic identity. it's an extension of our identity security fabric to also support agentic identity

Speaker 2: Yeah, one thing to clarify, in case people aren't aware of it, is that all of the agentic capabilities on our platform, those will be new offerings we sell. Just like if you add more users to Okta, we deliver more value and the customer pays us more. If you deploy agents with the Okta platform, you're going to deliver more value and we're going to capture that value. It's a nice combination of an extension of our current products in a way that's clearly delivering value and we'll be able to monetize. Yeah, one thing to clarify, in case people aren't aware of it, is that all of the agentic capabilities on our platform, those will be new offerings we sell. yeah one thing to clarify in case people aren't aware of it, is that all of the agentic capabilities on our platform those will be new offerings we sell Just like if you add more users to Okta, we deliver more value and the customer pays us more. just like if you add more users to okta we deliver more value and the customer pays us more If you deploy agents with the Okta platform, you're going to deliver more value and we're going to capture that value. if you deploy agents with the okta platform you're going to deliver more value and we're going to capture that value It's a nice combination of an extension of our current products in a way that's clearly delivering value and we'll be able to monetize. it's a nice combination of an extension of our current products in a way that's clearly delivering value and we'll be able to monetize

Speaker 10: Hi, this is Nasser Islam for Brad Zelnick at Deutsche Bank. The Okta AI Agents is a super interesting step forward, and I want to focus on pricing. There has been a lot of debate over how pricing models change in securing AI agents, and it feels like the traditional basis of per user or per agent pricing may not be the way forward. I'm just interested in hearing how you see this evolving. Hi, this is Nasser Islam for Brad Zelnick at Deutsche Bank. hi this is nasser islam for brad zelnick at deutsche bank The Okta AI Agents is a super interesting step forward, and I want to focus on pricing. the okta ai agents is a super interesting step forward and i want to focus on pricing There has been a lot of debate over how pricing models change in securing AI agents, and it feels like the traditional basis of per user or per agent pricing may not be the way forward. there has been a lot of debate over how pricing models change in securing ai agents and it feels like the traditional basis of per user or per agent pricing may not be the way forward I'm just interested in hearing how you see this evolving. i'm just interested in hearing how you see this evolving

Speaker 2: I had a hard time hearing you. There's an echo. Maybe, did you guys hear him? I had a hard time hearing you. i had a hard time hearing you There's an echo. there's an echo Maybe, did you guys hear him? maybe did you guys hear him

Speaker 5: No. No. no

Speaker 2: Yeah, it's hard to understand. Yeah, it's hard to understand. yeah it's hard to understand

Speaker 5: Oh, sorry. Oh, sorry. oh sorry

Speaker 2: Yeah, the sound up here is kind of echoey. Yeah, the sound up here is kind of echoey. yeah the sound up here is kind of echoey

Speaker 8: I'm just wondering about how you see pricing models evolve when you're securing AI agents. I'm just wondering about how you see pricing models evolve when you're securing AI agents. i'm just wondering about how you see pricing models evolve when you're securing ai agents

Speaker 2: How pricing models evolve, yeah. I think the basic thing I just described is like there will be additional, we're going to deliver additional value from all this capability. There will be customers who will be charged for it. We're finalized, the base, there is a clear model around just a lot of agents act on behalf of the user. Think about companies rolling out their own version of internal ChatGPT, those agents are going to act on behalf of Brett or Eric or John. The identity and the number of agents they need to license is very tied to the set of users. That's an obvious extension. That's like, think of it as an extension of the per-seat license. I think what we're still modeling in some different scenarios is how it works when there's a one-to-many. There's an autonomous agent that does work on behalf of many users. How pricing models evolve, yeah. how pricing models evolve yeah I think the basic thing I just described is like there will be additional, we're going to deliver additional value from all this capability. i think the basic thing i just described is like there will be additional we're going to deliver additional value from all this capability There will be customers who will be charged for it. there will be customers who will be charged for it We're finalized, the base, there is a clear model around just a lot of agents act on behalf of the user. we're finalized the base there is a clear model around just a lot of agents act on behalf of the user Think about companies rolling out their own version of internal ChatGPT, those agents are going to act on behalf of Brett or Eric or John. think about companies rolling out their own version of internal chatgpt those agents are going to act on behalf of brett or eric or john The identity and the number of agents they need to license is very tied to the set of users. the identity and the number of agents they need to license is very tied to the set of users That's an obvious extension. that's an obvious extension That's like, think of it as an extension of the per-seat license. that's like think of it as an extension of the per-seat license I think what we're still modeling in some different scenarios is how it works when there's a one-to-many. i think what we're still modeling in some different scenarios is how it works when there's a one-to-many There's an autonomous agent that does work on behalf of many users. there's an autonomous agent that does work on behalf of many users That will end up, as we work with customers and finalize this, that'll work up in some variant of a per-request or a per-backend resource model. It'll be monetized a different way because there's not the inherent number of agents there are in the case where an agent is acting just on behalf of one-to-one on behalf of users. As we get through the final steps of this toward availability next year, we'll be finalizing all that and communicating it clearly to everyone. That will end up, as we work with customers and finalize this, that'll work up in some variant of a per-request or a per-backend resource model. that will end up as we work with customers and finalize this that'll work up in some variant of a per-request or a per-backend resource model It'll be monetized a different way because there's not the inherent number of agents there are in the case where an agent is acting just on behalf of one-to-one on behalf of users. it'll be monetized a different way because there's not the inherent number of agents there are in the case where an agent is acting just on behalf of one-to-one on behalf of users As we get through the final steps of this toward availability next year, we'll be finalizing all that and communicating it clearly to everyone. as we get through the final steps of this toward availability next year we'll be finalizing all that and communicating it clearly to everyone

Speaker 5: is fairly similar in unit of measure to what we do today, maybe with a little bit of tweaks, maybe a little bit of blending of the two concepts. We will definitely update you guys as we make more progress. is fairly similar in unit of measure to what we do today, maybe with a little bit of tweaks, maybe a little bit of blending of the two concepts. is fairly similar in unit of measure to what we do today maybe with a little bit of tweaks maybe a little bit of blending of the two concepts We will definitely update you guys as we make more progress. we will definitely update you guys as we make more progress

Speaker 11: Okay, great. Yung Kim, Duke Capital. Obviously, you know, there's a lot of discussions about when the agentic AI adoption will happen and the timeframe around it. If you do look at one market, that's where there's a lot of development going on. That's within the technology companies like ISVs and business application vendors. What kind of go-to-market motions do you have targeting them today? Do you feel like you have to basically become a standard among those vendors to be relevant on the agentic AI rollout as it rolls out to the other enterprise markets? Okay, great. okay great Yung Kim, Duke Capital. yung kim duke capital Obviously, you know, there's a lot of discussions about when the agentic AI adoption will happen and the timeframe around it. obviously you know there's a lot of discussions about when the agentic ai adoption will happen and the timeframe around it If you do look at one market, that's where there's a lot of development going on. if you do look at one market that's where there's a lot of development going on That's within the technology companies like ISVs and business application vendors. that's within the technology companies like isvs and business application vendors What kind of go-to-market motions do you have targeting them today? what kind of go-to-market motions do you have targeting them today Do you feel like you have to basically become a standard among those vendors to be relevant on the agentic AI rollout as it rolls out to the other enterprise markets? do you feel like you have to basically become a standard among those vendors to be relevant on the agentic ai rollout as it rolls out to the other enterprise markets

Speaker 2: Yeah, I think it's an important area of our strategy is serving, especially the companies that are building these agentic solutions and how we can partner with them and how we can work with them on this broader adoption of standards, like we've talked about. Our strategy here is that we want to be the best identity provider at securing identity and securing agentic AI. We want to do that by being embedded and being partnered with all of the people building agent technology and agent platforms and app vendors building agents. We want to be the constant across all of it. That takes the right product. It takes the right partnerships. We're very focused on that, making sure that's a reality. Yeah, I think it's an important area of our strategy is serving, especially the companies that are building these agentic solutions and how we can partner with them and how we can work with them on this broader adoption of standards, like we've talked about. yeah i think it's an important area of our strategy is serving especially the companies that are building these agentic solutions and how we can partner with them and how we can work with them on this broader adoption of standards like we've talked about Our strategy here is that we want to be the best identity provider at securing identity and securing agentic AI. our strategy here is that we want to be the best identity provider at securing identity and securing agentic ai We want to do that by being embedded and being partnered with all of the people building agent technology and agent platforms and app vendors building agents. we want to do that by being embedded and being partnered with all of the people building agent technology and agent platforms and app vendors building agents We want to be the constant across all of it. we want to be the constant across all of it That takes the right product. that takes the right product It takes the right partnerships. it takes the right partnerships We're very focused on that, making sure that's a reality. we're very focused on that making sure that's a reality

Speaker 12: Hey, this is Laurence Vensko for John Difucci at Guggenheim. For the longest time, Okta and the identity players have primarily been tasked to secure human identities. It's clear that that's rapidly changing. Based on your presentation this morning and given your roots, it seems like the identity platform is coming together to secure both humans and non-humans. My question is, is one of those core components more relevant to secure NHIs? Is that the right way to think about it? Is it finally just coming together between access management, privileged access management, and identity governance for both? Hey, this is Laurence Vensko for John Difucci at Guggenheim. hey this is laurence vensko for john difucci at guggenheim For the longest time, Okta and the identity players have primarily been tasked to secure human identities. for the longest time okta and the identity players have primarily been tasked to secure human identities It's clear that that's rapidly changing. it's clear that that's rapidly changing Based on your presentation this morning and given your roots, it seems like the identity platform is coming together to secure both humans and non-humans. based on your presentation this morning and given your roots it seems like the identity platform is coming together to secure both humans and non-humans My question is, is one of those core components more relevant to secure NHIs? my question is is one of those core components more relevant to secure nhis Is that the right way to think about it? is that the right way to think about it Is it finally just coming together between access management, privileged access management, and identity governance for both? is it finally just coming together between access management privileged access management and identity governance for both

Speaker 2: Yeah, I think that we should stop thinking about them as separate things. I think that's why this concept of the fabric is so important. People don't want to have a bunch of different vendors. It's one of the things people don't like. There's a couple of really pretty misunderstood things about identity. The first one is that the amount of complexity at customer sites around the number of identity tools is quite staggering. Even a small company has 20, 30, 40, 50 different identity vendors. There's tremendous value in consolidating that and normalizing that. We think we have the right platform to do that, to implement this fabric. The second thing about identity technologies is it's a lot of effort and a lot of work traditionally to get them fully deployed. Yeah, I think that we should stop thinking about them as separate things. yeah i think that we should stop thinking about them as separate things I think that's why this concept of the fabric is so important. i think that's why this concept of the fabric is so important People don't want to have a bunch of different vendors. people don't want to have a bunch of different vendors It's one of the things people don't like. it's one of the things people don't like There's a couple of really pretty misunderstood things about identity. there's a couple of really pretty misunderstood things about identity The first one is that the amount of complexity at customer sites around the number of identity tools is quite staggering. the first one is that the amount of complexity at customer sites around the number of identity tools is quite staggering Even a small company has 20, 30, 40, 50 different identity vendors. even a small company has 20 30 40 50 different identity vendors There's tremendous value in consolidating that and normalizing that. there's tremendous value in consolidating that and normalizing that We think we have the right platform to do that, to implement this fabric. we think we have the right platform to do that to implement this fabric The second thing about identity technologies is it's a lot of effort and a lot of work traditionally to get them fully deployed. the second thing about identity technologies is it's a lot of effort and a lot of work traditionally to get them fully deployed We're doing a lot of things over the years, and even when we talk about standardization and all the technologies we're building to connect to cloud systems and on-prem system, we're trying to make that easier. We're trying to make it easier to deploy these identity management tools and let people consolidate and let people simplify. I think those two things coming together is one of the reasons why we're so well positioned. We can really remove complexity from customers' environments. We can help them have better security outcomes. We can meaningfully change their business. That's why we're so well positioned. We're doing a lot of things over the years, and even when we talk about standardization and all the technologies we're building to connect to cloud systems and on-prem system, we're trying to make that easier. we're doing a lot of things over the years and even when we talk about standardization and all the technologies we're building to connect to cloud systems and on-prem system we're trying to make that easier We're trying to make it easier to deploy these identity management tools and let people consolidate and let people simplify. we're trying to make it easier to deploy these identity management tools and let people consolidate and let people simplify I think those two things coming together is one of the reasons why we're so well positioned. i think those two things coming together is one of the reasons why we're so well positioned We can really remove complexity from customers' environments. we can really remove complexity from customers' environments We can help them have better security outcomes. we can help them have better security outcomes We can meaningfully change their business. we can meaningfully change their business That's why we're so well positioned. that's why we're so well positioned

Speaker 5: Yeah, I would just add it's fairly simple what Todd talked about earlier today, right? It's every identity type, every identity use case, and every type of resource, right? Each one of these things that he's been talking about today on the main stage in here today is about trying to go after those. There's a bunch of technology underneath that actually helps us accomplish that. If you just think about it from that simplistic viewpoint, that's really what the identity security fabric is. We have an online question. Yeah, I would just add it's fairly simple what Todd talked about earlier today, right? yeah i would just add it's fairly simple what todd talked about earlier today right It's every identity type, every identity use case, and every type of resource, right? it's every identity type every identity use case and every type of resource right Each one of these things that he's been talking about today on the main stage in here today is about trying to go after those. each one of these things that he's been talking about today on the main stage in here today is about trying to go after those There's a bunch of technology underneath that actually helps us accomplish that. there's a bunch of technology underneath that actually helps us accomplish that If you just think about it from that simplistic viewpoint, that's really what the identity security fabric is. if you just think about it from that simplistic viewpoint that's really what the identity security fabric is We have an online question. we have an online question

Speaker 13: Taz from Roth is asking, you have a platform for building AI agents, but at the same time, a lot of other companies like Salesforce and ServiceNow are providing the ability to create agents on their platform. How do those platforms collaborate or compete with Okta? Would they need to tie in with Okta to secure agents on their platform? NetNet question is, do customers build agents on the Okta platform or the platforms offered by the application and SaaS vendors to build agents? Taz from Roth is asking, you have a platform for building AI agents, but at the same time, a lot of other companies like Salesforce and ServiceNow are providing the ability to create agents on their platform. taz from roth is asking you have a platform for building ai agents but at the same time a lot of other companies like salesforce and servicenow are providing the ability to create agents on their platform How do those platforms collaborate or compete with Okta? how do those platforms collaborate or compete with okta Would they need to tie in with Okta to secure agents on their platform? would they need to tie in with okta to secure agents on their platform NetNet question is, do customers build agents on the Okta platform or the platforms offered by the application and SaaS vendors to build agents? netnet question is do customers build agents on the okta platform or the platforms offered by the application and saas vendors to build agents

Speaker 2: I think the way to break it down is you need to, you're going to have agents from a lot of different platforms. There's going to be a lot of heterogeneity in this world. It's going to be rapidly changing. You try to manage what you know is going to be fundamental, and that's the governance, the visibility, and the control. That's what we're doing with the Okta platform. We want that to work seamlessly with every, whether it's Amazon's agent builder or Google's agent builder or Microsoft's agent builder or Salesforce or Atlassian or anyone. We want it to work everywhere. By the way, we want to standardize it so everyone can get the benefit of this identity security fabric, no matter, you know, what they choose. We want flexibility and openness. I think the way to break it down is you need to, you're going to have agents from a lot of different platforms. i think the way to break it down is you need to you're going to have agents from a lot of different platforms There's going to be a lot of heterogeneity in this world. there's going to be a lot of heterogeneity in this world It's going to be rapidly changing. it's going to be rapidly changing You try to manage what you know is going to be fundamental, and that's the governance, the visibility, and the control. you try to manage what you know is going to be fundamental and that's the governance the visibility and the control That's what we're doing with the Okta platform. that's what we're doing with the okta platform We want that to work seamlessly with every, whether it's Amazon's agent builder or Google's agent builder or Microsoft's agent builder or Salesforce or Atlassian or anyone. we want that to work seamlessly with every whether it's amazon's agent builder or google's agent builder or microsoft's agent builder or salesforce or atlassian or anyone We want it to work everywhere. we want it to work everywhere By the way, we want to standardize it so everyone can get the benefit of this identity security fabric, no matter, you know, what they choose. by the way we want to standardize it so everyone can get the benefit of this identity security fabric no matter you know what they choose We want flexibility and openness. we want flexibility and openness Now, I think in that, on the vein of like, there's going to be a lot of different ways to build agents. With Auth0, we're trying to make sure that if you're building your own agent with your own development tools, you can use Auth0 to do the identity security part of that. Of course, that's going to work on different platforms. I'm sure there'll be in other platforms, there'll be competitive offerings to that because they're going to want their own identity stuff. Our commitment is that it's going to work great with this standardization to manage, govern, and control that we think should be adopted by the entire industry. Now, I think in that, on the vein of like, there's going to be a lot of different ways to build agents. now i think in that on the vein of like there's going to be a lot of different ways to build agents With Auth0, we're trying to make sure that if you're building your own agent with your own development tools, you can use Auth0 to do the identity security part of that. with auth0 we're trying to make sure that if you're building your own agent with your own development tools you can use auth0 to do the identity security part of that Of course, that's going to work on different platforms. of course that's going to work on different platforms I'm sure there'll be in other platforms, there'll be competitive offerings to that because they're going to want their own identity stuff. i'm sure there'll be in other platforms there'll be competitive offerings to that because they're going to want their own identity stuff Our commitment is that it's going to work great with this standardization to manage, govern, and control that we think should be adopted by the entire industry. our commitment is that it's going to work great with this standardization to manage govern and control that we think should be adopted by the entire industry

Speaker 14: Hey guys, Tomer Zilberman, B of A. Wanted to ask about the competitive landscape. Last week, you had CrowdStrike at Falcon talking about expansion of identity, further expansion into identity versus being more identity adjacent before. You obviously have Palo Alto acquiring CyberArk, which they're also here as a partner. I wanted to ask, how do you view the competitive landscape changing with the entry of these bigger platform vendors? Is there enough room in the market for everyone here? Do you think that you'll continue to partner with them versus being more head to head? Hey guys, Tomer Zilberman, B of A. hey guys tomer zilberman b of a Wanted to ask about the competitive landscape. wanted to ask about the competitive landscape Last week, you had CrowdStrike at Falcon talking about expansion of identity, further expansion into identity versus being more identity adjacent before. last week you had crowdstrike at falcon talking about expansion of identity further expansion into identity versus being more identity adjacent before You obviously have Palo Alto acquiring CyberArk, which they're also here as a partner. you obviously have palo alto acquiring cyberark which they're also here as a partner I wanted to ask, how do you view the competitive landscape changing with the entry of these bigger platform vendors? i wanted to ask how do you view the competitive landscape changing with the entry of these bigger platform vendors Is there enough room in the market for everyone here? is there enough room in the market for everyone here Do you think that you'll continue to partner with them versus being more head to head? do you think that you'll continue to partner with them versus being more head to head

Speaker 2: Yeah, the way we think about this is, first of all, I think the goal is zero identity-based attacks. It would be awesome if identity-based attacks, we solved the problem and all of us went on to working on something else. That would be amazing. It's another way to say like there's tons of work and tons of opportunity. I think when you think about how to solve that problem, there's a school of thought that you should have all of the pieces of security working along with your identity security capabilities to solve all security challenges. That's when you see like Microsoft or CrowdStrike or Palo Alto, that's essentially their strategy, a one-stop shop for all security, which is I can see the appeal of it. There's lots of fragmentation there. There's lots of potential operations or ways to consolidate. Yeah, the way we think about this is, first of all, I think the goal is zero identity-based attacks. yeah the way we think about this is first of all i think the goal is zero identity-based attacks It would be awesome if identity-based attacks, we solved the problem and all of us went on to working on something else. it would be awesome if identity-based attacks we solved the problem and all of us went on to working on something else That would be amazing. that would be amazing It's another way to say like there's tons of work and tons of opportunity. it's another way to say like there's tons of work and tons of opportunity I think when you think about how to solve that problem, there's a school of thought that you should have all of the pieces of security working along with your identity security capabilities to solve all security challenges. i think when you think about how to solve that problem there's a school of thought that you should have all of the pieces of security working along with your identity security capabilities to solve all security challenges That's when you see like Microsoft or CrowdStrike or Palo Alto, that's essentially their strategy, a one-stop shop for all security, which is I can see the appeal of it. that's when you see like microsoft or crowdstrike or palo alto that's essentially their strategy a one-stop shop for all security which is i can see the appeal of it There's lots of fragmentation there. there's lots of fragmentation there There's lots of potential operations or ways to consolidate. there's lots of potential operations or ways to consolidate I think the challenge is that in the security market, you need two things. You need, there's constant innovation. There's constant change. It's an adversarial environment. People are trying to break into it. You need this ability to constantly adopt the best solution. That's always a tension, I think, against consolidation and security. That's an important concept. The other thing is that you, when you think about what we could do from an identity perspective, it's really about securing the environment and having these things like detection and posture management. It's also about how the environment could be built in a way to be more secure. I think that's what coming from a foundation of an identity provider brings us. We can both help secure the environment and actually build a more secure environment itself. That's a unique approach we have. There's definitely overlap, right? I think the challenge is that in the security market, you need two things. i think the challenge is that in the security market you need two things You need, there's constant innovation. you need there's constant innovation There's constant change. there's constant change It's an adversarial environment. it's an adversarial environment People are trying to break into it. people are trying to break into it You need this ability to constantly adopt the best solution. you need this ability to constantly adopt the best solution That's always a tension, I think, against consolidation and security. that's always a tension i think against consolidation and security That's an important concept. that's an important concept The other thing is that you, when you think about what we could do from an identity perspective, it's really about securing the environment and having these things like detection and posture management. the other thing is that you when you think about what we could do from an identity perspective it's really about securing the environment and having these things like detection and posture management It's also about how the environment could be built in a way to be more secure. it's also about how the environment could be built in a way to be more secure I think that's what coming from a foundation of an identity provider brings us. i think that's what coming from a foundation of an identity provider brings us We can both help secure the environment and actually build a more secure environment itself. we can both help secure the environment and actually build a more secure environment itself That's a unique approach we have. that's a unique approach we have There's definitely overlap, right? there's definitely overlap right I mean, there's different, everyone is trying to say where they're going to secure AI agents. There's clearly with CyberArk, there's some overlap with Okta. Some of the things that CrowdStrike is doing in security have overlap with what we're doing. That's for sure. There's no, I think it's the wrong way to think about it to be like, oh, there's going to be one size fits all. We're going to have layered defenses. We're going to have identity defenses. We're going to have network defenses. We're going to have cloud management defenses. It's all about those things working together to really drive toward this goal of eliminating identity-based attacks. If we did that, that's 80% of the security breaches. I think there's a lot of work to do. We're going to be working with them. We're going to be, you know, overlapping with them in some places. I mean, there's different, everyone is trying to say where they're going to secure AI agents. i mean there's different everyone is trying to say where they're going to secure ai agents There's clearly with CyberArk, there's some overlap with Okta. there's clearly with cyberark there's some overlap with okta Some of the things that CrowdStrike is doing in security have overlap with what we're doing. some of the things that crowdstrike is doing in security have overlap with what we're doing That's for sure. that's for sure There's no, I think it's the wrong way to think about it to be like, oh, there's going to be one size fits all. there's no i think it's the wrong way to think about it to be like oh there's going to be one size fits all We're going to have layered defenses. we're going to have layered defenses We're going to have identity defenses. we're going to have identity defenses We're going to have network defenses. we're going to have network defenses We're going to have cloud management defenses. we're going to have cloud management defenses It's all about those things working together to really drive toward this goal of eliminating identity-based attacks. it's all about those things working together to really drive toward this goal of eliminating identity-based attacks If we did that, that's 80% of the security breaches. if we did that that's 80% of the security breaches I think there's a lot of work to do. i think there's a lot of work to do We're going to be working with them. we're going to be working with them We're going to be, you know, overlapping with them in some places. we're going to be you know overlapping with them in some places It's an important work we're doing. We'll do it together. It's an important work we're doing. it's an important work we're doing We'll do it together. we'll do it together

Speaker 15: Another online question? Another online question? another online question It's Mark Tash with Raymond James here for Adam Tindall. I just want to ask, how much of the agentic AI strategy revolves around customers buying into Okta's governance and privileged access on top of Core IAM and SIAM to be able to monetize the way that you're planning? It's Mark Tash with Raymond James here for Adam Tindall. it's mark tash with raymond james here for adam tindall I just want to ask, how much of the agentic AI strategy revolves around customers buying into Okta's governance and privileged access on top of Core IAM and SIAM to be able to monetize the way that you're planning? i just want to ask how much of the agentic ai strategy revolves around customers buying into okta's governance and privileged access on top of core iam and siam to be able to monetize the way that you're planning

Speaker 2: I think we can monetize it if they're just in core access management. Just agents in the directory, track the owner, make sure that the connections are secured. It just gets more valuable if you want to do governance as well and you want to do privilege as well. It's kind of similar to like a person, right? You can do core access management, but you can do privilege. You can do governance as well. It gets more valuable as you expand the number of products in the platform you buy. I think we can monetize it if they're just in core access management. i think we can monetize it if they're just in core access management Just agents in the directory, track the owner, make sure that the connections are secured. just agents in the directory track the owner make sure that the connections are secured It just gets more valuable if you want to do governance as well and you want to do privilege as well. it just gets more valuable if you want to do governance as well and you want to do privilege as well It's kind of similar to like a person, right? it's kind of similar to like a person right You can do core access management, but you can do privilege. you can do core access management but you can do privilege You can do governance as well. you can do governance as well It gets more valuable as you expand the number of products in the platform you buy. it gets more valuable as you expand the number of products in the platform you buy

Speaker 16: Obviously, the business has had a number of headwinds the last two, three years, but it seems like we're coming out on the other side right now with a more specialized go-to-market effort, increased pipeline, better rep tenure, a much stronger product breadth, a normalizing macro, and obviously demand for identities probably at an all-time high. My question is, what concerns do you have out there? What do you think would hold the business back from re-accelerating growth? Obviously, the business has had a number of headwinds the last two, three years, but it seems like we're coming out on the other side right now with a more specialized go-to-market effort, increased pipeline, better rep tenure, a much stronger product breadth, a normalizing macro, and obviously demand for identities probably at an all-time high. obviously the business has had a number of headwinds the last two three years but it seems like we're coming out on the other side right now with a more specialized go-to-market effort increased pipeline better rep tenure a much stronger product breadth a normalizing macro and obviously demand for identities probably at an all-time high My question is, what concerns do you have out there? my question is what concerns do you have out there What do you think would hold the business back from re-accelerating growth? what do you think would hold the business back from re-accelerating growth

Speaker 8: John, you want to take that? Our go-to-market strategy, like you said, is based on a number of things. Go-to-market specialization has been something that we've been working on for a period of time now. This year, we moved to a more specialized approach by platform that's particularly relevant to our biggest customers internationally in our tier-one markets. We've made pretty good progress. We're pretty pleased with the results from those segments through the course of H1. Prior to that, we moved to a Hunter Farmer model in our commercial business in the U.S. That, again, has been really positive. They had a great H1, and productivity is going really well from that standpoint too. We think those specialization bets are working. Where we see real upside is on international expansion. We're super focused on a collection of tier-one countries outside of the U.S. John, you want to take that? john you want to take that Our go-to-market strategy, like you said, is based on a number of things. our go-to-market strategy like you said is based on a number of things Go-to-market specialization has been something that we've been working on for a period of time now. go-to-market specialization has been something that we've been working on for a period of time now This year, we moved to a more specialized approach by platform that's particularly relevant to our biggest customers internationally in our tier-one markets. this year we moved to a more specialized approach by platform that's particularly relevant to our biggest customers internationally in our tier-one markets We've made pretty good progress. we've made pretty good progress We're pretty pleased with the results from those segments through the course of H1. we're pretty pleased with the results from those segments through the course of h1 Prior to that, we moved to a Hunter Farmer model in our commercial business in the U.S. prior to that we moved to a hunter farmer model in our commercial business in the u.s That, again, has been really positive. that again has been really positive They had a great H1, and productivity is going really well from that standpoint too. they had a great h1 and productivity is going really well from that standpoint too We think those specialization bets are working. we think those specialization bets are working Where we see real upside is on international expansion. where we see real upside is on international expansion We're super focused on a collection of tier-one countries outside of the U.S. we're super focused on a collection of tier-one countries outside of the u.s where we're making some significant bets in our partner investments there, localizing our products and making sure we can deliver them with the right and necessary deployment options. That's got a significant amount of upside moving forward, our international expansion. When I also think about the area across the board where we see real upside too, it's in our biggest customer cohorts. For some time now, we've been really pleased with the amount of growth we're getting out of our sort of million-dollar ACV cohort. It just makes sense when you understand our strategy and you're seeing what's really driving growth. It's in these bigger, more complex customers. They've got the legacy of years of buying disparate identity tools. They've just got a lot of complexity. They've got a lot of sunken costs, and they've got a lot of risk exposure. where we're making some significant bets in our partner investments there, localizing our products and making sure we can deliver them with the right and necessary deployment options. where we're making some significant bets in our partner investments there localizing our products and making sure we can deliver them with the right and necessary deployment options That's got a significant amount of upside moving forward, our international expansion. that's got a significant amount of upside moving forward our international expansion When I also think about the area across the board where we see real upside too, it's in our biggest customer cohorts. when i also think about the area across the board where we see real upside too it's in our biggest customer cohorts For some time now, we've been really pleased with the amount of growth we're getting out of our sort of million-dollar ACV cohort. for some time now we've been really pleased with the amount of growth we're getting out of our sort of million-dollar acv cohort It just makes sense when you understand our strategy and you're seeing what's really driving growth. it just makes sense when you understand our strategy and you're seeing what's really driving growth It's in these bigger, more complex customers. it's in these bigger more complex customers They've got the legacy of years of buying disparate identity tools. they've got the legacy of years of buying disparate identity tools They've just got a lot of complexity. they've just got a lot of complexity They've got a lot of sunken costs, and they've got a lot of risk exposure. they've got a lot of sunken costs and they've got a lot of risk exposure These are the ones that are really leaning in with us, either they bought access management from Okta before, or they're considering their estate, and they're considering refresh. I see very significant upside in our biggest customer cohort everywhere because of that. It's a trend around consolidation. Many of them want a single control plane for all identity use cases. We're the market-leading independent version of that. That's something we're super excited about and how we mobilize our partner ecosystem around that opportunity, how we align with them, make sure they have the right value propositions, the right expertise, and the right service offerings to make customers successful with that. That's the biggest opportunity that we've got to get right. That's where we're investing a lot of effort at the moment. These are the ones that are really leaning in with us, either they bought access management from Okta before, or they're considering their estate, and they're considering refresh. these are the ones that are really leaning in with us either they bought access management from okta before or they're considering their estate and they're considering refresh I see very significant upside in our biggest customer cohort everywhere because of that. i see very significant upside in our biggest customer cohort everywhere because of that It's a trend around consolidation. it's a trend around consolidation Many of them want a single control plane for all identity use cases. many of them want a single control plane for all identity use cases We're the market-leading independent version of that. we're the market-leading independent version of that That's something we're super excited about and how we mobilize our partner ecosystem around that opportunity, how we align with them, make sure they have the right value propositions, the right expertise, and the right service offerings to make customers successful with that. that's something we're super excited about and how we mobilize our partner ecosystem around that opportunity how we align with them make sure they have the right value propositions the right expertise and the right service offerings to make customers successful with that That's the biggest opportunity that we've got to get right. that's the biggest opportunity that we've got to get right That's where we're investing a lot of effort at the moment. that's where we're investing a lot of effort at the moment

Speaker 5: For example, I had an executive briefing yesterday with the CISO for one of our larger customers, a top 10 customer for Okta. They are on a three-year contract that renews next June. The entire conversation yesterday was what is their plan and roadmap to deploy all the capabilities Okta has added since they first came on board. They haven't yet deployed governance. They're planning to deploy governance. The conversation yesterday was how to move from their current product-based agreement with us into an ELA. They want to buy, they want to get onto the identity security fabric and be able to deploy it everywhere for all those use cases. Todd talks about several examples of customers that are consolidating dozens and 50 to 100 different identity tools onto one identity security fabric. For example, I had an executive briefing yesterday with the CISO for one of our larger customers, a top 10 customer for Okta. for example i had an executive briefing yesterday with the ciso for one of our larger customers a top 10 customer for okta They are on a three-year contract that renews next June. they are on a three-year contract that renews next june The entire conversation yesterday was what is their plan and roadmap to deploy all the capabilities Okta has added since they first came on board. the entire conversation yesterday was what is their plan and roadmap to deploy all the capabilities okta has added since they first came on board They haven't yet deployed governance. they haven't yet deployed governance They're planning to deploy governance. they're planning to deploy governance The conversation yesterday was how to move from their current product-based agreement with us into an ELA. the conversation yesterday was how to move from their current product-based agreement with us into an ela They want to buy, they want to get onto the identity security fabric and be able to deploy it everywhere for all those use cases. they want to buy they want to get onto the identity security fabric and be able to deploy it everywhere for all those use cases Todd talks about several examples of customers that are consolidating dozens and 50 to 100 different identity tools onto one identity security fabric. todd talks about several examples of customers that are consolidating dozens and 50 to 100 different identity tools onto one identity security fabric These conversations are becoming more and more common as our products become more capable and as our customers become better educated about the complexity that they need to solve for. Those conversations are happening all the time right now. These conversations are becoming more and more common as our products become more capable and as our customers become better educated about the complexity that they need to solve for. these conversations are becoming more and more common as our products become more capable and as our customers become better educated about the complexity that they need to solve for Those conversations are happening all the time right now. those conversations are happening all the time right now

Speaker 2: Do you have that in the forecast? Do you have that in the forecast? do you have that in the forecast

Speaker 8: Yeah. The other thing I'd say is that specialization per platform is also benefiting the AllSero motion. We're really seeing the continuation of customers investing in seamless digital experiences, and how the AllSero team can focus on that opportunity with real, strong cognizance and discovery about how that shows up in particular industry verticals is a really big part of us continuing to grow the AllSero business, especially in our biggest customer cohorts. Yeah. yeah The other thing I'd say is that specialization per platform is also benefiting the AllSero motion. the other thing i'd say is that specialization per platform is also benefiting the allsero motion We're really seeing the continuation of customers investing in seamless digital experiences, and how the AllSero team can focus on that opportunity with real, strong cognizance and discovery about how that shows up in particular industry verticals is a really big part of us continuing to grow the AllSero business, especially in our biggest customer cohorts. we're really seeing the continuation of customers investing in seamless digital experiences and how the allsero team can focus on that opportunity with real strong cognizance and discovery about how that shows up in particular industry verticals is a really big part of us continuing to grow the allsero business especially in our biggest customer cohorts

Speaker 16: Hi, it's Todd Simon, Soma Equity Partners. Can I just ask a follow-up to that one? Can you talk about, in these examples of customers that have been with you in access and are kind of choosing to take the whole platform, what happens to their, how should we think about their spend with Okta? What's the rate of change of the spend on those customers? I'm surprised that you're talking about the larger customers starting on this journey first. I would think that the small, mid-size, then maybe less mature IGA PAM programs are the ones that would be the first target to go after here. Maybe you could give us kind of color on that motion as well. Hi, it's Todd Simon, Soma Equity Partners. hi it's todd simon soma equity partners Can I just ask a follow-up to that one? can i just ask a follow-up to that one Can you talk about, in these examples of customers that have been with you in access and are kind of choosing to take the whole platform, what happens to their, how should we think about their spend with Okta? can you talk about in these examples of customers that have been with you in access and are kind of choosing to take the whole platform what happens to their how should we think about their spend with okta What's the rate of change of the spend on those customers? what's the rate of change of the spend on those customers I'm surprised that you're talking about the larger customers starting on this journey first. i'm surprised that you're talking about the larger customers starting on this journey first I would think that the small, mid-size, then maybe less mature IGA PAM programs are the ones that would be the first target to go after here. i would think that the small mid-size then maybe less mature iga pam programs are the ones that would be the first target to go after here Maybe you could give us kind of color on that motion as well. maybe you could give us kind of color on that motion as well

Speaker 8: Yeah, I think on the piece about building out across the identity security fabric with us, I think with these customers, a lot of them have experienced kind of disappointing value from a lot of these legacy products. They've not gone as fast as they wanted these deployments. They're expensive sometimes, and they create risk exposure for them. I think it's kind of everywhere, that concern. We're seeing customers leaning in when we acquire them across a broad range of products from us now. We've got a lot, we've got 20,000 customers. We've got, you know, access management customers at every single segment level. They're all experiencing this challenge with the implementation effort, the administration effort, and the risk exposure of having these disparate tools managing identity. At every level, they're leaning in. Yeah, I think on the piece about building out across the identity security fabric with us, I think with these customers, a lot of them have experienced kind of disappointing value from a lot of these legacy products. yeah i think on the piece about building out across the identity security fabric with us i think with these customers a lot of them have experienced kind of disappointing value from a lot of these legacy products They've not gone as fast as they wanted these deployments. they've not gone as fast as they wanted these deployments They're expensive sometimes, and they create risk exposure for them. they're expensive sometimes and they create risk exposure for them I think it's kind of everywhere, that concern. i think it's kind of everywhere that concern We're seeing customers leaning in when we acquire them across a broad range of products from us now. we're seeing customers leaning in when we acquire them across a broad range of products from us now We've got a lot, we've got 20,000 customers. we've got a lot we've got 20,000 customers We've got, you know, access management customers at every single segment level. we've got you know access management customers at every single segment level They're all experiencing this challenge with the implementation effort, the administration effort, and the risk exposure of having these disparate tools managing identity. they're all experiencing this challenge with the implementation effort the administration effort and the risk exposure of having these disparate tools managing identity At every level, they're leaning in. at every level they're leaning in I just think that we're seeing the most growth out of the bigger customers because when they lean in, they tend to spend more money with us. They obviously have most, you know, most legacy. I think it's a growth opportunity in all segments. We're experiencing the depth of the problem probably greatest in our biggest customers because they've got the biggest history of implementing these products and it causing these problems. I just think that we're seeing the most growth out of the bigger customers because when they lean in, they tend to spend more money with us. i just think that we're seeing the most growth out of the bigger customers because when they lean in they tend to spend more money with us They obviously have most, you know, most legacy. they obviously have most you know most legacy I think it's a growth opportunity in all segments. i think it's a growth opportunity in all segments We're experiencing the depth of the problem probably greatest in our biggest customers because they've got the biggest history of implementing these products and it causing these problems. we're experiencing the depth of the problem probably greatest in our biggest customers because they've got the biggest history of implementing these products and it causing these problems

Speaker 2: I think a lot of that too ties into the partner conversation because traditionally Okta's products have been super easy to implement. As we've broadened the use cases that we cover to governance, posture management, threat detection, privilege, the set of services work gets quite rich, which obviously bears a positive flywheel there with partners because there's more opportunity for them to add value, which makes them get more up to speed on Okta and what we can do, which means more customers use them. There's a virtuous cycle there. I think a lot of that too ties into the partner conversation because traditionally Okta's products have been super easy to implement. i think a lot of that too ties into the partner conversation because traditionally okta's products have been super easy to implement As we've broadened the use cases that we cover to governance, posture management, threat detection, privilege, the set of services work gets quite rich, which obviously bears a positive flywheel there with partners because there's more opportunity for them to add value, which makes them get more up to speed on Okta and what we can do, which means more customers use them. as we've broadened the use cases that we cover to governance posture management threat detection privilege the set of services work gets quite rich which obviously bears a positive flywheel there with partners because there's more opportunity for them to add value which makes them get more up to speed on okta and what we can do which means more customers use them There's a virtuous cycle there. there's a virtuous cycle there

Speaker 8: Yeah, that's right. I mean, our partners are super excited about it because they oftentimes have been involved in some of these projects and they deeply understand the business needs of our customers and how they've evolved. They can really add value when they look at all of the use cases across the identity security fabric. It's not just at the initial point of implementation. It's like a long-term value orientation for them that really leverages the uniqueness of their relationships with our customers. Yeah, that's right. yeah that's right I mean, our partners are super excited about it because they oftentimes have been involved in some of these projects and they deeply understand the business needs of our customers and how they've evolved. i mean our partners are super excited about it because they oftentimes have been involved in some of these projects and they deeply understand the business needs of our customers and how they've evolved They can really add value when they look at all of the use cases across the identity security fabric. they can really add value when they look at all of the use cases across the identity security fabric It's not just at the initial point of implementation. it's not just at the initial point of implementation It's like a long-term value orientation for them that really leverages the uniqueness of their relationships with our customers. it's like a long-term value orientation for them that really leverages the uniqueness of their relationships with our customers

Speaker 2: Yeah, I'm spending a big percentage of my time personally with big prospects, big customers, and big partners to try to really take advantage of all the momentum there across the business. Yeah, I'm spending a big percentage of my time personally with big prospects, big customers, and big partners to try to really take advantage of all the momentum there across the business. yeah i'm spending a big percentage of my time personally with big prospects big customers and big partners to try to really take advantage of all the momentum there across the business

Speaker 5: Yeah, we shouldn't underestimate how good the products have gotten over the last couple of years, Todd. I think that the comment you said about, oh, governance maybe being a little light, like that is an old tape. It's a pretty darn good product now. We're seeing more and more of these customers land not just with access management. They're landing more with the full suite of things, right? Because they are looking at our products and saying, wow, they're actually quite good. We really, we really should buy more from you guys. It's still a small number of big customers that do that. Ultimately, the long-term goal here, which is what we've been sitting up here talking about, is get all these people on the identity security fabric, which is effectively the entire portfolio. Yeah, we shouldn't underestimate how good the products have gotten over the last couple of years, Todd. yeah we shouldn't underestimate how good the products have gotten over the last couple of years todd I think that the comment you said about, oh, governance maybe being a little light, like that is an old tape. i think that the comment you said about oh governance maybe being a little light like that is an old tape It's a pretty darn good product now. it's a pretty darn good product now We're seeing more and more of these customers land not just with access management. we're seeing more and more of these customers land not just with access management They're landing more with the full suite of things, right? they're landing more with the full suite of things right Because they are looking at our products and saying, wow, they're actually quite good. because they are looking at our products and saying wow they're actually quite good We really, we really should buy more from you guys. we really we really should buy more from you guys It's still a small number of big customers that do that. it's still a small number of big customers that do that Ultimately, the long-term goal here, which is what we've been sitting up here talking about, is get all these people on the identity security fabric, which is effectively the entire portfolio. ultimately the long-term goal here which is what we've been sitting up here talking about is get all these people on the identity security fabric which is effectively the entire portfolio

Speaker 2: What resonates with these big customers is just look at our R&D spend. It's bigger than all the other identity companies. They know that these products are going to keep getting better and better and better relentlessly. That's what they're making the bet on a lot of times. Not only have we proven that we can deliver them, but we've proven that we can make them better over time. Other companies are getting distracted. They're changing ownership. They're getting bought. They're getting sold. They're doing other things in their focus. We're kind of consistent. We'll keep plugging away. What resonates with these big customers is just look at our R&D spend. what resonates with these big customers is just look at our r&d spend It's bigger than all the other identity companies. it's bigger than all the other identity companies They know that these products are going to keep getting better and better and better relentlessly. they know that these products are going to keep getting better and better and better relentlessly That's what they're making the bet on a lot of times. that's what they're making the bet on a lot of times Not only have we proven that we can deliver them, but we've proven that we can make them better over time. not only have we proven that we can deliver them but we've proven that we can make them better over time Other companies are getting distracted. other companies are getting distracted They're changing ownership. they're changing ownership They're getting bought. they're getting bought They're getting sold. they're getting sold They're doing other things in their focus. they're doing other things in their focus We're kind of consistent. we're kind of consistent We'll keep plugging away. we'll keep plugging away

Speaker 17: Zach Schneider with Baird. I wanted to ask about Okta Identity Governance and specifically which capabilities within Okta Identity Governance, either entitlement management, certification, et cetera, are seeing the strongest traction today and maybe where there's some adoption frictions. In that sense, will Okta Identity Governance become more of a core module embedded across the identity stack? Or do you envision it maintaining a more monetizable standalone SKU? Zach Schneider with Baird. zach schneider with baird I wanted to ask about Okta Identity Governance and specifically which capabilities within Okta Identity Governance, either entitlement management, certification, et cetera, are seeing the strongest traction today and maybe where there's some adoption frictions. i wanted to ask about okta identity governance and specifically which capabilities within okta identity governance either entitlement management certification et cetera are seeing the strongest traction today and maybe where there's some adoption frictions In that sense, will Okta Identity Governance become more of a core module embedded across the identity stack? in that sense will okta identity governance become more of a core module embedded across the identity stack Or do you envision it maintaining a more monetizable standalone SKU? or do you envision it maintaining a more monetizable standalone sku

Speaker 8: I think we're really pleased with how Okta Identity Governance is going. That's the first thing. It's a very, very clear cross-sell opportunity for us in our install base, and the team is really cranking just on that. It's also really nice, like Brett said, when we win new logos on Okta, more often than not now, we're landing them with Okta Identity Governance. Companies see it as a highly relevant product to manage governance in their environments, and we're really just getting started with it. Irrespective of how broad you go elsewhere within the identity security fabric, it's super obvious to us as companies look at the value of Okta. Even if they've got existing governance investments, a coexistence with them with Okta Identity Governance is incredibly valuable to them. I think we're really pleased with how Okta Identity Governance is going. i think we're really pleased with how okta identity governance is going That's the first thing. that's the first thing It's a very, very clear cross-sell opportunity for us in our install base, and the team is really cranking just on that. it's a very very clear cross-sell opportunity for us in our install base and the team is really cranking just on that It's also really nice, like Brett said, when we win new logos on Okta, more often than not now, we're landing them with Okta Identity Governance. it's also really nice like brett said when we win new logos on okta more often than not now we're landing them with okta identity governance Companies see it as a highly relevant product to manage governance in their environments, and we're really just getting started with it. companies see it as a highly relevant product to manage governance in their environments and we're really just getting started with it Irrespective of how broad you go elsewhere within the identity security fabric, it's super obvious to us as companies look at the value of Okta. irrespective of how broad you go elsewhere within the identity security fabric it's super obvious to us as companies look at the value of okta Even if they've got existing governance investments, a coexistence with them with Okta Identity Governance is incredibly valuable to them. even if they've got existing governance investments a coexistence with them with okta identity governance is incredibly valuable to them We're also seeing a lot of customers switch off existing legacy products that they've got quite embedded in their businesses, and they're switching onto Okta Identity Governance long term. Very, very exciting opportunity for us over the long term, Okta Identity Governance. We're also seeing a lot of customers switch off existing legacy products that they've got quite embedded in their businesses, and they're switching onto Okta Identity Governance long term. we're also seeing a lot of customers switch off existing legacy products that they've got quite embedded in their businesses and they're switching onto okta identity governance long term Very, very exciting opportunity for us over the long term, Okta Identity Governance. very very exciting opportunity for us over the long term okta identity governance

Speaker 16: Hi, Krishal Jivheari from Salarana Global. Thanks for taking the question. Todd, I was just hoping to get an update from you on the latest thinking in terms of the internal architecture. Obviously, it's been several years since Auth0. You know, till now, you've opted to keep it separate from a platform. Now, even this year, a go-to-market perspective. I guess is maintaining these various systems, you know, Okta Workforce, Okta SIEM, Auth0 SIEM, like, is that enabling the speed and innovation that, you know, seems to be increasingly required in a market where the time to market matters even more now? You know, competitors are out there with other products today. Obviously, some acquired, some repurposed, but still. Hi, Krishal Jivheari from Salarana Global. hi krishal jivheari from salarana global Thanks for taking the question. thanks for taking the question Todd, I was just hoping to get an update from you on the latest thinking in terms of the internal architecture. todd i was just hoping to get an update from you on the latest thinking in terms of the internal architecture Obviously, it's been several years since Auth0. obviously it's been several years since auth0 You know, till now, you've opted to keep it separate from a platform. you know till now you've opted to keep it separate from a platform Now, even this year, a go-to-market perspective. now even this year a go-to-market perspective I guess is maintaining these various systems, you know, Okta Workforce, Okta SIEM, Auth0 SIEM, like, is that enabling the speed and innovation that, you know, seems to be increasingly required in a market where the time to market matters even more now? i guess is maintaining these various systems you know okta workforce okta siem auth0 siem like is that enabling the speed and innovation that you know seems to be increasingly required in a market where the time to market matters even more now You know, competitors are out there with other products today. you know competitors are out there with other products today Obviously, some acquired, some repurposed, but still. obviously some acquired some repurposed but still

Speaker 5: I think I always want more in terms of innovation. I'm never satisfied there. I think we're doing a good job, and I think that we've proven that these products really have different value props to different buyers. What a developer, a builder wants is pretty different than what an IT and a security team want. I think you're seeing benefit from being in their respective lanes and what they've been able to innovate. I'm pretty happy with it while I was wanting more. We have another online question. I think I always want more in terms of innovation. i think i always want more in terms of innovation I'm never satisfied there. i'm never satisfied there I think we're doing a good job, and I think that we've proven that these products really have different value props to different buyers. i think we're doing a good job and i think that we've proven that these products really have different value props to different buyers What a developer, a builder wants is pretty different than what an IT and a security team want. what a developer a builder wants is pretty different than what an it and a security team want I think you're seeing benefit from being in their respective lanes and what they've been able to innovate. i think you're seeing benefit from being in their respective lanes and what they've been able to innovate I'm pretty happy with it while I was wanting more. i'm pretty happy with it while i was wanting more We have another online question. we have another online question

Speaker 18: Joshua Tilton from Wolfe Research asks, lots of questions around how the identity market will evolve with CyberArk becoming part of Palo Alto. Neutrality and the integration network have always been competitive differentiators for Okta. Does the integration network have to evolve to support an agentic future? Does the value of the integration network increase or decrease as all of the apps you are reintegrated with launch their own agentic capabilities? Lastly, is there any reason from a tech perspective that identity should no longer be neutral from other areas of security in an agentic future? Joshua Tilton from Wolfe Research asks, lots of questions around how the identity market will evolve with CyberArk becoming part of Palo Alto. joshua tilton from wolfe research asks lots of questions around how the identity market will evolve with cyberark becoming part of palo alto Neutrality and the integration network have always been competitive differentiators for Okta. neutrality and the integration network have always been competitive differentiators for okta Does the integration network have to evolve to support an agentic future? does the integration network have to evolve to support an agentic future Does the value of the integration network increase or decrease as all of the apps you are reintegrated with launch their own agentic capabilities? does the value of the integration network increase or decrease as all of the apps you are reintegrated with launch their own agentic capabilities Lastly, is there any reason from a tech perspective that identity should no longer be neutral from other areas of security in an agentic future? lastly is there any reason from a tech perspective that identity should no longer be neutral from other areas of security in an agentic future

Speaker 2: I think that with CyberArk is very interesting. I think that I'm not sure about this, but I think they had a similar idea that they wanted to build this identity security fabric, which you have to have all the products in the categories. You have to have great access management. You have to have posture management, threat detection, governance. You have to have privileged access management. I think there's a big question now, like, will they change the approach? Will they really lean into privileged use cases, security use cases, parts of agentic? I think that's yet to be seen. I think that the pull there is definitely going to be, I think, favor Palo Alto more, integrate tightly with that. I think the independence and neutrality is a huge advantage. I think there's not, you have to consolidate something. You can't have everything from everyone. I think that with CyberArk is very interesting. i think that with cyberark is very interesting I think that I'm not sure about this, but I think they had a similar idea that they wanted to build this identity security fabric, which you have to have all the products in the categories. i think that i'm not sure about this but i think they had a similar idea that they wanted to build this identity security fabric which you have to have all the products in the categories You have to have great access management. you have to have great access management You have to have posture management, threat detection, governance. you have to have posture management threat detection governance You have to have privileged access management. you have to have privileged access management I think there's a big question now, like, will they change the approach? i think there's a big question now like will they change the approach Will they really lean into privileged use cases, security use cases, parts of agentic? will they really lean into privileged use cases security use cases parts of agentic I think that's yet to be seen. i think that's yet to be seen I think that the pull there is definitely going to be, I think, favor Palo Alto more, integrate tightly with that. i think that the pull there is definitely going to be i think favor palo alto more integrate tightly with that I think the independence and neutrality is a huge advantage. i think the independence and neutrality is a huge advantage I think there's not, you have to consolidate something. i think there's not you have to consolidate something You can't have everything from everyone. you can't have everything from everyone It's a question of which consolidation points do you choose? I feel strongly that it's dangerous to consolidate on security because of the adversarial nature, because of the lock-in you get from consolidating from one vendor. I think identity is a good place to consolidate because you can get simplification and cost efficiencies from the control. While at the same time, you can have the business outcomes you need because identity companies focus on connecting to everything, not just Palo Alto, not just CrowdStrike, everything. I think that's the winning position and that's the strategy we're executing on. I think this is a big change for CyberArk. I don't know what it means for their old strategy, but I think it's a big change. It's a question of which consolidation points do you choose? it's a question of which consolidation points do you choose I feel strongly that it's dangerous to consolidate on security because of the adversarial nature, because of the lock-in you get from consolidating from one vendor. i feel strongly that it's dangerous to consolidate on security because of the adversarial nature because of the lock-in you get from consolidating from one vendor I think identity is a good place to consolidate because you can get simplification and cost efficiencies from the control. i think identity is a good place to consolidate because you can get simplification and cost efficiencies from the control While at the same time, you can have the business outcomes you need because identity companies focus on connecting to everything, not just Palo Alto, not just CrowdStrike, everything. while at the same time you can have the business outcomes you need because identity companies focus on connecting to everything not just palo alto not just crowdstrike everything I think that's the winning position and that's the strategy we're executing on. i think that's the winning position and that's the strategy we're executing on I think this is a big change for CyberArk. i think this is a big change for cyberark I don't know what it means for their old strategy, but I think it's a big change. i don't know what it means for their old strategy but i think it's a big change Yeah, it'll be a while before that becomes tangible because that whole deal needs to complete first for them to be able to understand exactly what they're going to do, where the roadmap will take them. Yeah, it'll be a while before that becomes tangible because that whole deal needs to complete first for them to be able to understand exactly what they're going to do, where the roadmap will take them. yeah it'll be a while before that becomes tangible because that whole deal needs to complete first for them to be able to understand exactly what they're going to do where the roadmap will take them

Speaker 19: Maybe kind of slightly off topic, but you know, you mentioned a lot of that this is going to take time with all of these agentic solutions. You also mentioned in your keynote a lot of FOMO of customers. I guess just from a perspective of like your guys' own AI journey and kind of adopting AI internally, just where you guys are, where you guys are finding usage. Maybe kind of slightly off topic, but you know, you mentioned a lot of that this is going to take time with all of these agentic solutions. maybe kind of slightly off topic but you know you mentioned a lot of that this is going to take time with all of these agentic solutions You also mentioned in your keynote a lot of FOMO of customers. you also mentioned in your keynote a lot of fomo of customers I guess just from a perspective of like your guys' own AI journey and kind of adopting AI internally, just where you guys are, where you guys are finding usage. i guess just from a perspective of like your guys' own ai journey and kind of adopting ai internally just where you guys are where you guys are finding usage

Speaker 5: Yeah, we have, so we use AI throughout Okta. I think in our, from a productization standpoint, probably the most prominent use case we've talked about publicly is Identity Threat Protection with Okta AI. It uses the AI capabilities across our volume of transactions that we manage. As a company, we process over 45 billion authentication events per month. That volume of data helps us use AI to identify threat signals, things that look anomalous and could be suspicious, and to help us protect our customers from activity that shouldn't happen. That's the productized use case we talk about most frequently, and our product's been in market for quite some time. Internally within Okta, and I oversee our operations, including our IT organization that provides tools to the company. We have today over 60 AI tools internally that we use for various use cases. Yeah, we have, so we use AI throughout Okta. yeah we have so we use ai throughout okta I think in our, from a productization standpoint, probably the most prominent use case we've talked about publicly is Identity Threat Protection with Okta AI. i think in our from a productization standpoint probably the most prominent use case we've talked about publicly is identity threat protection with okta ai It uses the AI capabilities across our volume of transactions that we manage. it uses the ai capabilities across our volume of transactions that we manage As a company, we process over 45 billion authentication events per month. as a company we process over 45 billion authentication events per month That volume of data helps us use AI to identify threat signals, things that look anomalous and could be suspicious, and to help us protect our customers from activity that shouldn't happen. that volume of data helps us use ai to identify threat signals things that look anomalous and could be suspicious and to help us protect our customers from activity that shouldn't happen That's the productized use case we talk about most frequently, and our product's been in market for quite some time. that's the productized use case we talk about most frequently and our product's been in market for quite some time Internally within Okta, and I oversee our operations, including our IT organization that provides tools to the company. internally within okta and i oversee our operations including our it organization that provides tools to the company We have today over 60 AI tools internally that we use for various use cases. we have today over 60 ai tools internally that we use for various use cases It spans everything from work with our developers using developer tools like AWS Bedrock, GitHub Copilot, et cetera, to, from a creative standpoint, our marketing teams use Adobe Studio and Clay and a number of other tools. Really across the company, and Todd talked about this on stage, we're driving our people to lean in with these technologies and find out where they can make us more productive, where they can make us more efficient, where they can make us more competitive, where they can make us grow faster. We feel we have a responsibility to be thought leaders and to be progressive in exploring the capabilities of these technologies and how they can help us go faster. We also have a responsibility to make sure, just as we talk about here, we're not deploying these technologies in a case where they could cause a security deficit. It spans everything from work with our developers using developer tools like AWS Bedrock, GitHub Copilot, et cetera, to, from a creative standpoint, our marketing teams use Adobe Studio and Clay and a number of other tools. it spans everything from work with our developers using developer tools like aws bedrock github copilot et cetera to from a creative standpoint our marketing teams use adobe studio and clay and a number of other tools Really across the company, and Todd talked about this on stage, we're driving our people to lean in with these technologies and find out where they can make us more productive, where they can make us more efficient, where they can make us more competitive, where they can make us grow faster. really across the company and todd talked about this on stage we're driving our people to lean in with these technologies and find out where they can make us more productive where they can make us more efficient where they can make us more competitive where they can make us grow faster We feel we have a responsibility to be thought leaders and to be progressive in exploring the capabilities of these technologies and how they can help us go faster. we feel we have a responsibility to be thought leaders and to be progressive in exploring the capabilities of these technologies and how they can help us go faster We also have a responsibility to make sure, just as we talk about here, we're not deploying these technologies in a case where they could cause a security deficit. we also have a responsibility to make sure just as we talk about here we're not deploying these technologies in a case where they could cause a security deficit Our North Star commitment on the Okta secure identity commitment still guides. We're very thoughtful about our data governance for these tools as we bring them in. We're very thoughtful about the production use cases as we bring them in. We're very intentional to make sure that if there's an opportunity to explore how a capability could help us go faster, we're going to make sure that we explore that, even if that requires a proof of concept where we gate it and ensure that we're not causing difficulty for us. We're very pleased with our uptake. We think we have found the right balance between making sure that we stay true to our goal of being one of the most secure companies in the world and also accelerating our pace of innovation to make sure we can be thought leaders in the space. Our North Star commitment on the Okta secure identity commitment still guides. our north star commitment on the okta secure identity commitment still guides We're very thoughtful about our data governance for these tools as we bring them in. we're very thoughtful about our data governance for these tools as we bring them in We're very thoughtful about the production use cases as we bring them in. we're very thoughtful about the production use cases as we bring them in We're very intentional to make sure that if there's an opportunity to explore how a capability could help us go faster, we're going to make sure that we explore that, even if that requires a proof of concept where we gate it and ensure that we're not causing difficulty for us. we're very intentional to make sure that if there's an opportunity to explore how a capability could help us go faster we're going to make sure that we explore that even if that requires a proof of concept where we gate it and ensure that we're not causing difficulty for us We're very pleased with our uptake. we're very pleased with our uptake We think we have found the right balance between making sure that we stay true to our goal of being one of the most secure companies in the world and also accelerating our pace of innovation to make sure we can be thought leaders in the space. we think we have found the right balance between making sure that we stay true to our goal of being one of the most secure companies in the world and also accelerating our pace of innovation to make sure we can be thought leaders in the space

Speaker 2: Yeah, navigating all this change is a tremendous challenge. It fires us up. We love doing hard things. We love succeeding in the face of adversity and taking on this challenge, whether it's internal transformation, whether it's product, whether it's industry landscape. It's very motivating and very exciting for all of us. I think you're seeing that come through in what we're delivering and how we're performing as well. Yeah, navigating all this change is a tremendous challenge. yeah navigating all this change is a tremendous challenge It fires us up. it fires us up We love doing hard things. we love doing hard things We love succeeding in the face of adversity and taking on this challenge, whether it's internal transformation, whether it's product, whether it's industry landscape. we love succeeding in the face of adversity and taking on this challenge whether it's internal transformation whether it's product whether it's industry landscape It's very motivating and very exciting for all of us. it's very motivating and very exciting for all of us I think you're seeing that come through in what we're delivering and how we're performing as well. i think you're seeing that come through in what we're delivering and how we're performing as well

Speaker 5: It makes all of our conversations with customers just highly timely and relevant because all of them are navigating the exact context I just described. They're all in the same position right now. There is intense interest in all of us understanding how to chart a path to navigate this to benefit from the capabilities of this new wave of technology and do it in a way that keeps your company secure. I think that's what you saw in the main stage keynote, which you referenced. That's what you hear throughout the week this week at the show. It makes all of our conversations with customers just highly timely and relevant because all of them are navigating the exact context I just described. it makes all of our conversations with customers just highly timely and relevant because all of them are navigating the exact context i just described They're all in the same position right now. they're all in the same position right now There is intense interest in all of us understanding how to chart a path to navigate this to benefit from the capabilities of this new wave of technology and do it in a way that keeps your company secure. there is intense interest in all of us understanding how to chart a path to navigate this to benefit from the capabilities of this new wave of technology and do it in a way that keeps your company secure I think that's what you saw in the main stage keynote, which you referenced. i think that's what you saw in the main stage keynote which you referenced That's what you hear throughout the week this week at the show. that's what you hear throughout the week this week at the show

Speaker 2: I have time for one last question coming in online. I have time for one last question coming in online. i have time for one last question coming in online

Speaker 20: Last question comes from Adam Borg at Stifel. Big picture, fast forwarding five years, do you expect that the total addressable market for securing NHI in general and agentic AI in particular to be smaller, the same size, or larger than human identity? Last question comes from Adam Borg at Stifel. last question comes from adam borg at stifel Big picture, fast forwarding five years, do you expect that the total addressable market for securing NHI in general and agentic AI in particular to be smaller, the same size, or larger than human identity? big picture fast forwarding five years do you expect that the total addressable market for securing nhi in general and agentic ai in particular to be smaller the same size or larger than human identity

Speaker 2: I think it's on the order of the same size. That's how I think it'll play out. I think both are going to grow and both are very important. Probably I should have had a longer question. Why don't we take one more? Any shorter questions? Someone in the room. I think it's on the order of the same size. i think it's on the order of the same size That's how I think it'll play out. that's how i think it'll play out I think both are going to grow and both are very important. i think both are going to grow and both are very important Probably I should have had a longer question. probably i should have had a longer question Why don't we take one more? why don't we take one more Any shorter questions? any shorter questions Someone in the room. someone in the room

Speaker 8: Anybody up front. Anybody up front. anybody up front

Speaker 16: Hi. In the past, I know the team has said that Okta Identity Governance constitutes about 30% of a workforce deal TCV. Can we get a sense of how that compares to Okta Privileged Access and Identity Security Posture Management and the ITDR products as well, please? Hi. hi In the past, I know the team has said that Okta Identity Governance constitutes about 30% of a workforce deal TCV. in the past i know the team has said that okta identity governance constitutes about 30% of a workforce deal tcv Can we get a sense of how that compares to Okta Privileged Access and Identity Security Posture Management and the ITDR products as well, please? can we get a sense of how that compares to okta privileged access and identity security posture management and the itdr products as well please

Speaker 2: Yeah, I think all of those categories, governance can be a 30% to 50% increase in value from a basic access management. Privileged can be a 30% to 50% increase over that. The other bucket is, call it identity security posture management, identity threat protection. That can be another 30% to 50%. You can go from a basic access management deal to a full all-product Okta deal that can be the summation of all those, which is, you know, three to four times larger if I did my math right. What are you? Yeah, I think all of those categories, governance can be a 30% to 50% increase in value from a basic access management. yeah i think all of those categories governance can be a 30% to 50% increase in value from a basic access management Privileged can be a 30% to 50% increase over that. privileged can be a 30% to 50% increase over that The other bucket is, call it identity security posture management, identity threat protection. the other bucket is call it identity security posture management identity threat protection That can be another 30% to 50%. that can be another 30% to 50% You can go from a basic access management deal to a full all-product Okta deal that can be the summation of all those, which is, you know, three to four times larger if I did my math right. you can go from a basic access management deal to a full all-product okta deal that can be the summation of all those which is you know three to four times larger if i did my math right What are you? what are you

Speaker 8: Close enough. Close enough. close enough

Speaker 2: We're seeing it bear out in the data, so it's positive. We're seeing it bear out in the data, so it's positive. we're seeing it bear out in the data so it's positive

Speaker 5: Okay, I think we're at time. Thank you, everyone, for coming out. Thank you, gentlemen, for your time today. Please go enjoy the rest of Octane, go to the keynotes, walk the halls, talk to customers, talk to partners. Have a great time. Thank you. Thanks, everybody. Okay, I think we're at time. okay i think we're at time Thank you, everyone, for coming out. thank you everyone for coming out Thank you, gentlemen, for your time today. thank you gentlemen for your time today Please go enjoy the rest of Octane, go to the keynotes, walk the halls, talk to customers, talk to partners. please go enjoy the rest of octane go to the keynotes walk the halls talk to customers talk to partners Have a great time. have a great time Thank you. thank you Thanks, everybody. thanks everybody