Okta Inc.'s stock surged 9.54% in the after-hours session on Thursday, following the release of its first-quarter financial results for fiscal year 2027.

The identity management software company reported adjusted earnings per share of $0.91, beating the analyst consensus estimate of $0.85. Revenue for the quarter came in at $765 million, surpassing expectations of $751.9 million and representing an 11% year-over-year increase.

Management raised its full-year outlook, now expecting fiscal 2027 adjusted EPS in the range of $3.79 to $3.87 and revenue between $3.19 billion and $3.21 billion, both above prior guidance and analyst estimates. The company cited strong enterprise demand, success of its new product portfolio including Okta Identity Governance, and sees a significant future opportunity in managing identities for AI agents as key drivers for the positive results and optimistic outlook.