Okta (OKTA) This fall 2025 Earnings Name Transcript

Okta (OKTA -3.68%)
This fall 2025 Earnings Name
Mar 03, 2025, 5:00 p.m. ET

Contents:

• Ready Remarks
• Questions and Solutions
• Name Members

Ready Remarks:

David Gennarelli — Senior Vice President, Investor Relations

Hello, everybody. Welcome to Okta’s fourth quarter and full yr fiscal 2025 earnings webcast. I am Dave Gennarelli, senior vp of investor relations at Okta. With me in as we speak’s assembly, we now have Todd McKinnon, our chief govt officer and co-founder; and Brett Tighe, our chief monetary officer.

At across the similar time that the earnings press launch hit the wire, we posted supplemental commentary to the IR web site. In as we speak’s assembly, we’ll embody forward-looking statements pursuant to the protected harbor provisions of the Non-public Securities Litigation Reform Act of 1995, together with however not restricted to statements relating to our monetary outlook and market positioning. Ahead-looking statements contain recognized and unknown dangers and uncertainties that will trigger our precise outcomes, efficiency or achievements to be materially completely different from these expressed or implied by the forward-looking statements. Ahead-looking statements characterize our administration’s beliefs and assumptions solely as of the date made.

Data on elements that would have an effect on our monetary outcomes is included in our filings with the SEC occasionally, together with the part titled Threat Elements in our beforehand filed Type 10-Q. As well as, throughout as we speak’s assembly, we’ll focus on non-GAAP monetary measures. Although we might not said explicitly through the assembly, all references to profitability are non-GAAP. These non-GAAP measures are along with and never an alternative to or superior to measures of monetary efficiency ready in accordance with GAAP.

A reconciliation between GAAP and non-GAAP monetary measures and a dialogue of the restrictions of utilizing non-GAAP measures versus their closest GAAP equivalents can be found in our earnings launch. You too can discover extra detailed info in our supplemental monetary supplies, which embody trended monetary statements and key metrics posted on our investor relations web site. In as we speak’s assembly, we’ll quote quite a few numeric or progress modifications as we focus on our monetary efficiency. And except in any other case famous, every such reference represents a year-over-year comparability.

And now, I might like to show the assembly over to Todd McKinnon. Todd?

Todd McKinnon — Co-Founder and Chief Govt Officer

Thanks, Dave, and thanks, everybody, for becoming a member of us this afternoon. We’re actually happy with our robust This fall outcomes and the end to FY ’25, which incorporates accelerating RPO and cRPO and document profitability and free money circulate. Demand for each workforce and buyer id merchandise was robust, and our rising portfolio of latest merchandise is beginning to make an affect. Brett will cowl extra of the This fall highlights, and I’ll cowl why Okta is greatest positioned to seize extra of the large market alternative in entrance of us as we go into FY ’26 and past.

As you recognize, two of our prime FY ’25 priorities had been: one, rework Okta to grow to be probably the most safe firms on the planet; and two, reignite progress by way of prioritizing our companion ecosystem, turning up the dial on product innovation, and rising go-to-market specialization. These priorities and purposeful investments constructed momentum as we progressed by way of the yr and actually paid off in This fall. One yr in the past, we launched the Okta Safe Identification Dedication. We have made unimaginable progress on this prime precedence and have grow to be a trusted and main voice for safety greatest practices in discussions with clients and prospects.

The work round safety developments won’t ever be finished, but it surely’s a robust begin. Later, Brett will cowl among the achievements with our companion ecosystem, and I’ll dive deeper into product innovation and go-to-market specialization. Our relentless concentrate on product innovation has been resonating with our clients as over 20% of This fall bookings had been from new merchandise, reminiscent of Okta Identification Governance, Privilege Entry, Gadget Entry, High quality-Grained Authorization, Identification Safety Posture Administration, and Identification Menace Safety with Okta AI. Okta Identification Governance has been an enormous success.

What we hear repeatedly from clients is the superb time to worth with OIG. Prospects are getting up and working only a few quick months after signing. Since launching OIG simply two years in the past, we now have over 1,300 clients contributing over $100 million in annual contract worth. That is nice progress, and the product is simply getting higher as we proceed so as to add extra performance persona.

Along with OIG, we now have one other roughly $300 million of enterprise with Okta Lifecycle Administration and Okta Workflows. Mixed, that is over $400 million in governance-related enterprise, and we’re simply getting began. We all know that clients that undertake extra merchandise have the very best retention charges. So, we’re excited concerning the developments right here and the long-term contributions to the enterprise.

Product innovation continues to be a key funding space in FY ’26. To get safety proper, organizations have to get id proper. With the regular rise of cloud adoption, machine identities, and now, AI brokers, there has by no means been a extra vital time to safe id. Final week, we held our annual launch week occasion the place we highlighted our newest improvements.

Listed here are only a few. On the Okta platform, Buyer Identification for U.S. public sector is now even higher, new options, together with password lists, enhanced safety, and streamline the consumer expertise whereas serving to businesses meet strict compliance wants. We additionally introduced Workforce Identification suites, that are new pricing packages designed to offer a easy and unified resolution tailor-made to our clients’ safety wants.

These suites will present even sooner time-to-value outcomes for our clients on the Auth0 platform we introduced Auth for GenAI. We’ll start early entry this month. We have already got a waitlist of keen clients starting from early start-ups to Fortune 100 organizations. Auth for GenAI is developed to assist clients securely construct and scale their gen AI purposes.

This suite of options permits AI brokers to securely name APIs on behalf of customers whereas implementing the best stage of entry to delicate info. We held our annual gross sales kickoff assembly a few weeks in the past, and our go-to-market staff is de facto enthusiastic about all the brand new product innovation. Partially, our quickly increasing portfolio of id safety options is what led us to the shift we’re making in our go-to-market technique to additional specialize. Prospects want us to satisfy them the place they’re.

And to deal with this, we’re increasing our specialization into Okta sellers and Auth0 sellers. Okta sellers will focus engagement on IT and safety purchaser wants, together with all Workforce Identification merchandise, in addition to Okta Buyer Identification. Auth0 sellers will concentrate on assembly the distinctive wants of builders, which embody extremely technical buyer id customizations and versatile deployment fashions. Success we have had with gross sales specialization in different elements of the enterprise provides us confidence that that is our alternative to higher serve our clients through additional focus and to higher drive Okta’s progress.

And eventually, I wish to share our FY ’26 priorities, which construct upon the nice progress we made in FY ’25. The primary precedence is elevate the trade with the Okta Safe Identification Dedication. This initiative underscores our dedication to be the trusted chief in combating identity-based threats. I am unable to inform you how a lot this resonates with our clients and prospects who now search Okta’s recommendation and steerage on hardening their IT safety environments.

Subsequent is win IT and safety with Okta. Identification has grow to be fragmented, and clients are more and more all for unified platforms that ship built-in safety outcomes earlier than, throughout, and after authentication. Identification investments have grow to be extra strategic with the safety purchaser entrance and heart. Okta’s market-leading and increasing product portfolio makes us uniquely positioned to capitalize on this chance.

And the third precedence is win builders with Auth0. This focuses on additional strengthening Auth0’s market presence by way of strategic investments in product innovation, model, and advertising and marketing. Seminal buyer wins just like the International 2000 meals and beverage retailer that bought Auth0 in This fall to switch their ageing homegrown system provides us elevated confidence in our skill to seize extra of this big market alternative. Earlier than wrapping up, I wish to congratulate Eric Kelleher on his promotion to chief working officer.

Eric has been a part of our management staff since 2016 and will likely be targeted on reigniting progress, championing the Okta Safe Identification Dedication and constructing on Okta’s fame because the world’s id firm. I additionally wish to thank and congratulate Eugenio Tempo, who will likely be retiring this month. As a co-founder of Auth0, he helped construct an unimaginable platform. And his contributions to Okta over the previous 4 years can’t be overstated.

He will likely be missed. To wrap issues up, we’re excited concerning the momentum we have constructed going into FY ’26 and are taking the best steps to advance our place because the chief within the id market. Increasingly, clients want to consolidate their disparate and ineffective id methods, and Okta is there to satisfy them with essentially the most complete id safety platform available in the market as we speak. I wish to thank the complete Okta staff for his or her tireless effort and likewise thank our loyal clients and companions who put their belief in us on daily basis.

Now, here is Brett to cowl the monetary commentary and discuss how we’re positioned for long-term worthwhile progress.

Brett Tighe — Chief Monetary Officer

Thanks, Todd, and thanks everybody for becoming a member of us as we speak. Like Todd, I am happy with the top-line outcomes, which stemmed from the onerous work and investments we have made, reworking the enterprise round safety companions, go-to-market modifications, and product innovation. I am particularly happy with the unimaginable progress we have made constructing on the effectivity initiatives we began over two years in the past. That is greatest illustrated by the roughly 9 factors of working margin progress and 6 factors of free money circulate margin progress we achieved for FY ’25, all whereas making the best investments for future progress.

We’re proud to as soon as once more end the fiscal yr above the Rule of 40, which we have achieved yearly since going public in 2017. My commentary will present insights to our This fall monetary efficiency after which transfer on to our outlook for Q1 and FY ’26. Underpinning our total power in This fall with gross sales productiveness that reached a multiyear excessive. Notably, Auth0 had its greatest bookings quarter in historical past, which is one other testomony to the onerous work that the staff has put in all yr.

We additionally skilled explicit power cross-selling workforce into present CIAM clients and cross-selling new workforce merchandise to present workforce clients. The robust This fall outcomes had been highlighted by RPO that elevated 25% and crossed the $4 billion mark. Driving acceleration in RPO progress was the rise in weighted common time period size for This fall offers, which reached a multiyear excessive. We achieved document bookings in This fall, which crossed $1 billion in whole contract worth for the primary time.

Massive offers and enormous clients proceed to be the driving pressure behind our success. A terrific illustration of our success with massive clients is that the entire contract worth of our prime 25 offers in This fall was over $320 million. Moreover, we added 25 clients in This fall with $1 million-plus ACV within the quarter. Our whole base of $1 million-plus ACV clients grew 22% to 470.

The $1 million-plus cohort represents over $1 billion in whole ACV. Our concentrate on deepening our relationship with our companion ecosystem as a part of our progress initiatives is de facto paying off. Within the fourth quarter, over 70% of offers had been partner-influenced. That features 18 of our prime 20 offers closed in This fall.

We had been lately honored to be named companion of the yr by AWS Market. Our partnership with AWS Market has been an incredible success. The most effective demonstration of that success is that in This fall, we surpassed over $1 billion in mixture whole contract worth for the reason that partnership was introduced simply 4 years in the past In FY ’25, income from AWS Market grew over 80%. Now let’s flip to our enterprise outlook for Q1 and FY ’26.

The headcount discount motion we took final month was a part of our ongoing evaluation to optimize our price construction. The motion is meant to reallocate {dollars} and sources towards priorities to drive progress and was factored into the preliminary FY ’26 steerage we offered final quarter. We’re taking a prudent method to ahead steerage that elements in our beforehand introduced go-to-market specialization. For the primary quarter of FY 26, we count on whole income progress of 10%, present RPO progress of 12%, non-GAAP working margin of 25% and free money circulate margin of roughly 25%, inclusive of the anticipated money affect of roughly $11 million associated to the headcount discount anticipated to be paid out within the first quarter.

For the total yr FY ’26, we’re elevating our outlook throughout the board. We now count on whole income progress of 9% to 10%, non-GAAP working margin of 25%, and a free money circulate margin of roughly 26%. To wrap issues up, we stay targeted on reigniting progress and driving spend efficiencies and money circulate. We have demonstrated distinctive leverage in our mannequin and are positioned to ship worthwhile progress for years to come back.

With that, I am going to flip it again to Dave for Q&A. Dave?

David Gennarelli — Senior Vice President, Investor Relations

All proper. Thanks, Brett. I believe our attendees are going to be moved over as panelists now, and I am going to take the questions because the fingers get raised so as. And within the curiosity of time, please restrict your self to at least one query in order that we are able to get to everybody.

After which, you are welcome to queue again up once we get to further questions. So with that, I am going to take the primary query from John DiFucci at Guggenheim. John?

John Difucci — Analyst

Thanks, guys. Thanks. I do not usually say this, however good job, guys. Hear, you’ve got talked prior to now on this — I believe that is for Brett, however possibly Todd, too — about your prudence in giving steerage.

And also you talked about it once more in your ready remarks. However I simply wish to form of gauge that just a little bit as a result of has that modified in any respect? Particularly your annual steerage, which was a fairly large uptick from the earlier numbers. You recognize, or has one thing modified within the enterprise and even the macro backdrop? Todd, I believe you had been the primary man to say, “Hey, hear, it is a new regular on the market.” Is there any modifications on the market that offers you extra confidence that you do not have to be fairly as prudent in giving steerage I assume is —

Todd McKinnon — Co-Founder and Chief Govt Officer

Nicely, for This fall — John, thanks for the query, and thanks for the praise originally. This fall was a blowout. We actually, actually had a terrific quarter. And once we talked three months in the past on the decision, I discussed — we talked about steerage and the preliminary steerage we gave, and I stated “The yr FY ’25, the yr we simply completed was fairly back-end loaded.” And the staff actually delivered.

It was a — it was a blowout quarter. And among the stats, it was the first-time ever. We had over $1 billion of bookings in 1 / 4, a document quarter for Auth0, and, you recognize, the highest million-dollar deal cohort grew 22% yr over yr. So, the data and the large stats go on and on.

So, that informs there’s — that is a part of the equation for the steerage for subsequent yr. You see the elevate we did on the steerage. However I believe simply zooming again just a little bit when it comes to the macro and what is going on on, I believe the macro is constant. I believe possibly the distinction is that this concept, that id is that this actually essential foundational layer, significantly for giant firms.

And so they can modernize the disparate methods they’ve, they usually can — in the event that they make investments on this layer, it may actually result in higher safety outcomes. They’ll get a deal with on their numerous id silos. They are going to have the ability to do governance and privilege and buyer id with one vendor. It will lead — it may assist them with AI and agentic workloads.

Persons are making an attempt to sew collectively agentic platforms and write their very own agentic methods. And what they run smack into is, “Wait a minute, how am I going to present these brokers entry to all these methods if I do not even know what’s in these methods and I do not even know the entry permissions which might be there and securely authenticate them.” So, that is driving the enterprise. However nice quarter. We’re very bullish.

However, you recognize, we now have — we’re — you recognize, Q1 is simply midway over, and we’re ensuring that we’re prudent in our steerage going ahead as properly.

John Difucci — Analyst

So, it seems like issues are just about the identical, you guys are executing, issues are coming collectively for Okta?

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah. Completely, yeah. We’re very excited.

John Difucci — Analyst

Superior.

Brett Tighe — Chief Monetary Officer

John, I can reply just a little bit on the philosophy. I believe if you happen to bear in mind final quarter, we talked about lowering the conservatism within the mannequin that we have talked to — you recognize, we have issued right here. Similar program. We will proceed to try this in — for the stability of FY ’26.

The one line merchandise in there’s something we talked about earlier, which is additional specializing within the subject. However, yeah, that is — that is actually — that is it. However earlier than I get off this, I ought to simply say congratulations to the complete go-to-market staff. They did a heck of a job within the quarter.

I hope all of you guys admire that and see it within the numbers as a result of we’re actually happy with how they executed. And searching ahead to a robust FY ’26.

John Difucci — Analyst

We will see it. Thanks, guys.

David Gennarelli — Senior Vice President, Investor Relations

OK. Let’s go to Eric Heath at KeyBanc.

Eric Heath — Analyst

Nice. Thanks, guys. And actually a terrific quarter, nice to see. Two for me.

Brett, simply begin with you. Shortly on the cRPO information for 1Q. It seems prefer it’s down just a few factors sequentially. So, something to name out relating to that seasonality? After which, Todd, I wished to ask you just a little bit extra on the specialised gross sales mannequin for this yr.

Are you able to simply elaborate just a little bit extra on the prevailing information factors that you simply’re seeing otherwise you’ve applied already that is supplying you with confidence in that technique and simply assist us perceive possibly the diploma of change this entails? Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

That is sensible. Hey, Brett, possibly you go first on the cRPO.

Brett Tighe — Chief Monetary Officer

Yeah, it is an actual quick reply. The seasonality of our fiscal years are pretty back-end loaded identical to Todd spoke about. So, Q1 simply has that decreasing of expectation, if you’ll, when it comes to the expansion. So, you recognize, it is clearly very early within the yr.

And Q1 is, like I stated, seasonally our lowest quarter usually.

Todd McKinnon — Co-Founder and Chief Govt Officer

Specialization has been the development for just a little bit over a yr now. At first of FY ’25, we specialised the company staff when it comes to hunter-farmers, and we discovered loads from that. We discovered that the transition into that mannequin took a pair quarters, just a little bit sluggish out of the gate, however then paid off within the second half in a robust method. And so, once we take into consideration additional specialization, it is sensible for lots of causes.

And the largest purpose is that the merchandise are much more detailed and much more submarkets. In the event you’re an Okta vendor as we speak, you are promoting actually an built-in Workforce suite that creates an id material for our clients throughout many classes, entry administration, id governance. These are all — historically, we’re all separate firms, Privileged Entry Administration, Identification Safety Posture Administration, Identification Menace Safety with Okta AI. And so, these are all completely different subcategories that we now have a really distinctive place we’re in.

We’re making an attempt to carry these collectively into one platform and go to an enormous buyer. Like, we closed an enormous deal in This fall. It was a — actually — it was an enormous upsell on a deal we talked about in Q3, which was a worldwide expertise firm, Fortune 500 firm. And so they actually went all in with this end-to-end Workforce Identification suite.

All of our merchandise retiring 10 legacy purposes for only a huge — you recognize, it is a type of huge offers that put that over $1 billion of TCV on the board in This fall. I am not saying this one deal was $1 billion in TCV, however I am saying that these form of offers led to that form of quantity as they added up within the quarter. And so — after which, whenever you go on the Auth0 facet, you are speaking about promoting a platform to builders, folks constructing expertise, it is fairly broad. It is obtained the core authentication and issues like that.

Nevertheless it additionally has id — fine-grained authorization, which is like how do you truly get subdomains of permissions inside your purposes or extremely regulated id, which is superior capabilities to do step-up authentication and so forth. And so, your — and now, we now have — on the Auth0 facet, we now have Auth for GenAI. It is like how do you truly sew this collectively if you happen to’re constructing agentic purposes and make all of it safe and guarantee that brokers do not get hacked and ensure the brokers have the best authentication, and so forth., and so forth. So, that is loads to grasp as a vendor.

And so, we’re on this arc of specialization, which goes to essentially result in long run progress as a result of these merchandise have grow to be so highly effective. And these superior folks in our go-to-market staff, essentially the most proficient folks within the trade, they’ll actually drill in and perceive what these merchandise do. And once we take a look at like success metrics, we discuss to clients and we discuss to prospects. And we ask them, “How are these resulting in the nice outcomes for you? How are you within the gross sales course of understanding this stuff? As a result of id is sophisticated.

And if our vendor can go in there and actually perceive the main points of what these merchandise are doing it, we’re — it additional differentiates us. We’re already differentiated as a result of, you recognize, we’re principally competing towards a big monolithic platform that form of says, “Hey, put every little thing in our stack, and we’ll do all of it for you, possibly.” Besides nobody actually has every little thing in a single stack, so it would not actually work. Otherwise you’re speaking to level id distributors which do not have the entire platform we now have. They do not have buyer id, they usually do not have privilege and governance, and id safety posture administration, and menace safety.

And so, if we may come to a vendor that is aware of the main points of those merchandise and might actually converse the client’s language, that simply additional differentiates us and results in higher win charges. So, that is the metric we’re watching as we transition into this, and it is off to an excellent begin. Persons are pumped about it. We noticed the success in just a little — you recognize, what we did final yr with hunter-farmer.

And it is actually — we’re enthusiastic about this yr and dealing onerous to, you recognize, even go sooner and develop extra and do even higher than This fall. This fall was nice. However we now have huge ambitions right here. We’re making an attempt to do much more, and the staff is fired up to try this.

Eric Heath — Analyst

Thanks, Todd.

David Gennarelli — Senior Vice President, Investor Relations

Let’s go to Brad Zelnick at Deutsche Financial institution.

Brad Zelnick — Analyst

Nice. Thanks a lot, and congrats on the blowout This fall. I do not know if that is higher for Todd or for Brett, but when I mirror during the last couple of years, Okta, like many different firms within the software program trade, we had been speaking about seat-based headwinds. And if I believe again to the feedback that you simply made at Oktane, you talked about an expectation that that might proceed.

You anticipated that, that might persist by way of the primary half of subsequent yr. And I am simply questioning, as we take into consideration the places and takes of the enterprise, the place your head is now. And are — is what we’re simply seeing right here in these outcomes and the steerage that you simply’re offering us great success in governance and OPA that is greater than offsetting that? Or do you’ve got a change in what your expectation is? And I believe, Brett, you had stated if the macro had been higher, that possibly we might see enchancment earlier than the midpoint of subsequent yr. Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah. Possibly I am going to — possibly I am going to begin after which, Brett, you possibly can take part. However on the seat-based headwinds, I believe the macro situation we have seen has been pretty — it has been constant for some time now. I might say a few years.

And we predict it may be the identical going ahead. I believe the large distinction, as you talked about, is that in contracts we signed in, name it, you recognize, first quarter of 2022 after which in calendar ’21 and earlier than it was the zero rate of interest period and folks had been, you recognize, shopping for just a little bit — you recognize, they simply purchased loads, they usually over forecasted what they will want. And if you happen to wanted a thousand issues, you purchased 1,500. And now, the world is completely different within the final two years.

Now, if you happen to want 1,000, you purchase 700. After which, you wait to see whenever you go 701, then you definately purchase that final seat. So, it is a very completely different world. However as these issues — our common contract size is 2 and a half years.

So, as these contracts come up for renewal, they do not get renewed. They do not get renewed at 1,500. They get renewed at a right-sized stage. So, you are seeing that headwind abate.

It doesn’t suggest the macro is altering. It simply implies that our contracts are rolling off from that, I believe, unsustainable interval earlier than.

Brett Tighe — Chief Monetary Officer

Yeah, I might simply add, Brad, to that query, which is, do you’ve got two choices shopping for extra merchandise or the headwinds abating? It is shopping for extra merchandise. We noticed that within the new product proportion we gave you guys. So, these headwinds are nonetheless there. It is simply the staff executed very well.

And new enterprise, upsell, upsell or renewal, I imply, they simply — they’d a heck of 1 / 4. And that is why I congratulated him originally of the quarter — originally of this name. It is — yeah, actually glorious execution from the gross sales staff.

Brad Zelnick — Analyst

All of them deserve it. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

OK, subsequent up —

Todd McKinnon — Co-Founder and Chief Govt Officer

All of them made some huge cash, Brad. All of them made some huge cash, in order that’s just a little little bit of a thanks for that.

David Gennarelli — Senior Vice President, Investor Relations

Subsequent up is Joe Gallo with Jefferies.

Joseph Gallo — Analyst

Hey, guys, thanks for the query. It was superior to see the $1 million cohort characterize over $1 billion of whole ACV. Todd, are you able to simply discuss how a lot alternative stays with these largest clients? How are the online income retention charges there? And is that the place we must always count on the majority of progress this yr to come back from, or ought to the mid-market rebound just a little bit? Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, so I believe it is an actual insightful query. So, I believe that the possibly not-so-secret secret is that even with our success, we’re actually simply scratching the floor. In the event you take a look at IT spend, if you happen to take a look at the — simply that is form of quantitatively, you possibly can take a look at whole IT spend and form of attempt to extrapolate what that might imply for us. However I believe the extra highly effective factor is simply discuss to clients and get to know them and work with them by way of this journey.

I advised the story of that, you recognize, Fortune 500 tech firm final quarter. We did an enormous take care of them in Q3. And now, this quarter we did one other deal that is even greater. And that first deal appeared big.

However whenever you evaluate it to what they’re saving and the worth they’ll get from that and what they’ll take out of the atmosphere when it comes to lowering complexity and streamlining effectiveness — so their safety operations are more practical. They form of have one view of all their identities throughout privilege and governance and entry administration. It is very highly effective. And so they have not even finished the client id deal but.

That may be greater than the entire thing. So, it is like one anecdote. However I believe there’s a whole bunch and a whole bunch and a whole bunch of those firms on the market which might be simply beginning to get on this bandwagon. So, the potential is huge.

That being stated, additionally, Okta’s bread and butter rising up was form of this mid-enterprise or lower-enterprise success. And with all our investments within the companion ecosystem and the hunter-and-farmer specialization and the — you recognize, we crossed the billion-dollar threshold with Amazon. This was like 1 / 4 of billion-dollar thresholds by way of {the marketplace}, billion {dollars} of TCV, which is a number of that is within the enterprise. However a few of it — you recognize, an enormous a part of that, too, is within the mid-market.

So — after which, on the low finish, our self-service enterprise — or on the Auth0 facet, we’re doing an increasing number of there. That by no means even touches a salesman. And by the way in which, as soon as that will get to a sure level, it may be upsold into the an enterprise plan. So, we now have this technique the place we’re going from prime International 2000 with these massive platform offers, you recognize, we talked about the highest 25 offers with $320 million of bookings within the quarter, all the way in which right down to the underside with the self-service plans.

And, yeah, it is sturdy power throughout the board.

Joseph Gallo — Analyst

Superior to listen to. Good job, guys.

David Gennarelli — Senior Vice President, Investor Relations

Thanks, Joe. Subsequent up is Gabriela Borges at Goldman.

Gabriela Borges — Analyst

Hello. Good afternoon. Thanks. Todd, I wished to comply with up in your feedback on Auth0 and among the nuances to the go-to-market this yr.

Possibly simply remind us, I do know you’ve got experimented with Auth0 go-to-market prior to now. What have been your learnings from the prior iterations of go-to-market? And simply crystallize for us, what’s completely different with the way you’re approaching the Auth0 go-to-market this yr versus among the different methods of promoting that you have experimented with prior to now?

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, it is actual easy. After we purchased the corporate, it was two separate gross sales groups after which we mixed it into one generalist gross sales staff, so everybody bought each merchandise. And we did that in 2021 — proper on the finish of 2021, so proper originally of 2022 as a result of we wished protection. We wished to get the product on the market.

The product was on fireplace. It was rising tremendous quick. We wished to get it to as many individuals as doable, as quick as doable. And what we discovered during the last two years is that works particularly in This fall.

It labored properly, document quarter ever for Auth0. However we additionally discovered is that that is sophisticated stuff and the product during the last two years has expanded and obtained extra highly effective with fine-grained authorization and extremely regulated id and different capabilities within Auth0, simply options and enhancements and the way folks use it and the SDKs. And the identical issues occurred on the Okta facet. So, it actually obtained to some extent the place we had been seeing that folks that had been tended to concentrate on one space had been extra productive.

We noticed conversations with sure patrons round, you recognize, product officers or technical patrons versus IT and safety. They had been extra form of differentiated conversations. And so, once we look out the following 5 years, as we go from the place we at the moment are, you recognize, $2.6 billion in income final yr, reaccelerating progress, constructing, you recognize, this huge firm we’re making an attempt to construct over time, we predict the best strategy to do it’s to have specialised sellers, specialised entrepreneurs, specialised, you recognize, demand technology to talk to these worth props, these patrons. We will serve a number of patrons over time.

We will serve each purchaser within the C-suite finally. Identification touches every little thing, and it is a good step in the best route.

Brett Tighe — Chief Monetary Officer

I might additionally add, one of many issues that we have finished when it comes to taking the sector and placing them both on Okta or Auth0 is placing them in locations that they are snug, proper, the place they’ve the talent, they have the specialism already. And so, that is why we’re enthusiastic about this. As a result of we take a look at the outcomes, such as you simply noticed in This fall, document Auth0 bookings. Let’s put a number of these folks on the Auth0 facet of the home and see how properly they’ll do with all these nice new merchandise which might be popping out.

Gabriela Borges — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

Subsequent up, we now have Adam Borg from Stifel.

Adam Borg — Analyst

Superior, and thanks a lot for taking the query. Todd or Brett, so, clearly, such as you stated, actually robust quarter right here, look to be broad-based. However is there any geography of vertical that stood out? And possibly, as you consider form of the setup into fiscal ’26 versus ’25, at the least qualitatively, Brett, are you able to discuss concerning the dimension of the pipeline, the standard of the pipeline coming into this yr relative to final? Thanks a lot.

Todd McKinnon — Co-Founder and Chief Govt Officer

I believe the strongest geography was North America. Such as you stated, power throughout the board. However when it comes to like being exceeding expectations and actually blowing out their plan, North America was prime of the checklist there. And that, you recognize, I believe long run, an enormous progress alternative for us, as we have talked about loads, is worldwide.

It is nonetheless, you recognize, proper round — hovering proper round 20-ish p.c of our whole income. And over time, that must be increased as we drive broad-based growth across the globe. The issue is North America will not decelerate, so we obtained to determine do each on the similar time.

Brett Tighe — Chief Monetary Officer

Yeah. I might say, EMEA additionally had a extremely good quarter. Public sector had a extremely good quarter. I imply, it was a extremely robust quarter throughout the board.

I do not assume we may discover an space of weak spot, frankly. I imply, new enterprise upsell, upsell/renewal, cross-sell, every little thing actually went properly. The staff executed actually fairly properly. Very happy with the hassle.

Adam Borg — Analyst

Nice. And possibly simply remark simply on the standard of the pipeline coming into this yr versus final dimension, or something you could possibly remark there.

Brett Tighe — Chief Monetary Officer

Yeah. We’re snug with the pipeline based mostly on the steerage we gave right here you guys as we speak. So, we’re snug with the place we’re at. Enthusiastic about executing in FY ’26.

Adam Borg — Analyst

Good work. Thanks once more.

David Gennarelli — Senior Vice President, Investor Relations

OK. Subsequent up, Jonathan Ho at William Blair.

Jonathan Ho — Analyst

Let me echo my congratulations as properly on what seems to be an excellent inflection within the enterprise. Are you able to assist us perceive the chance for agentic AI and possibly how AI may play a task within the rising variety of identities on the market and significantly how Okta, you recognize, probably advantages from that? Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah. Jonathan, the — I am going to focus in on the — AI is a fairly large subject. And I do know there’s lots of people on the market on the planet making an attempt to present everybody broad-based classes about it. So, I am going to spare you that and I am going to concentrate on the agentic a part of AI.

That is most likely essentially the most — within the medium time period, that is most likely essentially the most relevant to our enterprise. And I believe the way in which to consider it is a crucial problem of id and safety for a very long time has been machines or one other strategy to name them is service accounts. So, you’ve got all these methods and you’ve got all these networks and you’ve got all this infrastructure. And there is folks that log into it, and we now have methods to handle that and have biometric authentication.

And we now have single sign-on methods. After which, there’s machines that log into that stuff. And, you recognize, if you happen to take a look at a server, possibly, you recognize, most likely 99.9% of the connections to that server are most likely different machines. And so, this problem of machine id has been with us for a very long time.

And there is been completely different methods on handle it and completely different approaches, completely different protocols. We have gone by way of completely different waves within the trade. We had, you recognize, firewall-based the place we attempt to lock every little thing. We had no lateral motion, information heart applied sciences the place you attempt to management machine account entry inside the information heart and the material of the community.

We have had PKI, which, you recognize, 20 years in the past, 15 years in the past was the way in which we will give each machine a public certificates, and we will handle that every one in a certificates authority. That form of by no means actually took off besides in some slim circumstances. And now, right here we’re as we speak with this — the agentic revolution is actual. And the facility of AI and the facility of those language fashions, the interplay modalities that you could have with these methods, these machines doing issues in your behalf and the — what they’ll do and the way they’ll infer subsequent actions, and so forth., and so forth., you all know it is actually actual.

However the way in which to consider it from an Okta perspective, it’s like machine id on steroids, turbocharged to love two orders of magnitude increased. So, that is like actually thrilling for us as a result of what will we do? A superb a part of our enterprise is definitely logging in machines proper now. Auth0 has the machine-to-machine tokens, the place folks, in the event that they construct some form of net app that providers different machines, they’ll use Auth0 for the login for that. Okta has related capabilities.

And now, you haven’t solely that fundamental authentication problem, however you’ve got the — all of those purposes. As, you recognize, two orders of magnitude, extra issues logging in, you need to actually fear concerning the fine-grained authorization into your providers. So, if you happen to’re in an enterprise and also you’re constructing a system that’s going to be an API that the brokers discuss to — by the way in which, that’s an below — that could be a misunderstood factor, or not a properly understood factor. If you wish to get agentic AI in your enterprise, yeah, one resolution is you are able to do every little thing in Salesforce or you are able to do every little thing in ServiceNow, however that is fairly impractical for many organizations.

So, what they’re doing is that they’re constructing an AI wrapper round a bunch of stuff. And now, as soon as they get {that a} — or, sorry, an API wrapper round a bunch of stuff. And as soon as they get that API, they want a system like fine-grained authorization from Auth0 to guarantee that it is easy to specific the foundations on who and what brokers and what roles and what group can entry which elements of the knowledge inside that API. So, it is — you wish to say Jonathan can entry these data, however John can entry these different data, and Gabrielle can entry these others.

You are able to do that with FGA. After which, whenever you put these APIs in entrance of all of your methods, you’ve got a pleasant fine-grained authorization mannequin. So, now whenever you begin constructing your brokers that discuss to those APIs, these brokers are solely seeing what they’ll see since you do not wish to open the entire world to these brokers as a result of if that factor goes awry or that factor will get hacked, then all your information is uncovered versus precisely what the brokers would see. So, it is least privileged, it is essential.

Now, on the agent facet, the equal of a number of these deployments have like passwords onerous coded within the agent. So, if that agent will get compromised, it is the equal of your monitor having a bunch of sticky notes on it along with your passwords earlier than single sign-on. So, Auth for GenAI provides you a protocol and a method to try this securely. So, you possibly can retailer these tokens and have these tokens which might be secured.

After which, if that agent must come out and get some approval from the consumer, Auth for GenAI helps that. So, you may get a step-up biometric authentication from the consumer to say, “Hey, I wish to test Jonathan’s fingerprint to ensure earlier than I guide this journey or I spend this cash, it is actually Jonathan.” So, these three elements are what Auth for GenAI is, and we’re tremendous, tremendous enthusiastic about it. Now we have a waitlist over, you recognize, 200-plus Fortune 100s and start-ups which might be on that factor. They need this product.

And it is going into early entry this month, so we’re actually watching it carefully to see how properly it could do.

Jonathan Ho — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

All proper. Subsequent up is Ittai Kidron at Oppenheimer.

Ittai Kidron — Analyst

Hey guys. Once more, congrats on a terrific quarter. A pair from me. Brett, on the cRPO you gave steerage for the primary quarter however not for the fiscal yr.

To a earlier query, you stated, you are — that is starting of the yr, so that you’re just a little bit conservative on the cRPO. So, I assume we must always assume it solely accelerates from right here until the tip of the fiscal yr in progress. Assist me get some colour on that. After which, for you, Todd, you did not discuss PAM and the progress that you have had with that and the way a lot that is contributing to what you are promoting.

Possibly you possibly can share some information factors on progress there. Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Positive.

Brett Tighe — Chief Monetary Officer

Hey, Ittai. I am going to simply take — it is a fast one. We solely information separately, one quarter at a time. We have by no means finished a yr out.

So, allow us to get by way of Q1, after which we’ll provide you with a information for Q2 and go from there.

Ittai Kidron — Analyst

Sounds good.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, PAM is doing nice. The — I discussed the brand new merchandise, the entire new merchandise had been 20% of the bookings within the quarter, which is nice. The standout there, I believe, when it comes to dimension and maturity is Okta Identification Governance. I discussed that over 1,300 clients, $100 million of simply OIG bookings whenever you add within the different lifecycle and workflow, which is de facto what you would come with.

In the event you form of checked out all of the elements of governance of our enterprise, it is over $400 million of bookings, which is nice. PAM’s not at that scale but, but it surely’s off to a extremely good begin within the quarter. We signed a take care of a extremely model identify monetary providers firm for — International 2000 firm that purchased — this present Okta buyer upgraded within the quarter to not solely the entry administration product they’d earlier than, however they added Identification Safety Posture Administration, Identification Menace Safety with Okta AI, and Okta Privileged Entry. So, they added these three merchandise, and it elevated the ARR on that account, you recognize, north of 30%.

So, that was a reasonably vital upsell. And the tales like these are on and on. And I believe that product, Okta Privileged Entry, is — I believe it is getting actually good and actually mature, and we’re including extra capabilities. We have got a terrific engineering staff shifting shortly.

It is actually a contemporary product. It is built-in nice with SaaS purposes. It is form of a rethinking how the privileged entry administration market is. And I believe, you recognize, within the subsequent few years, as we now have these conversations extra, I believe what you are going to hear an increasing number of is it is simply not a — it is like a simply a part of the entire suite, and you purchase it as a part of — since you need it along with your entry administration? And I believe a number of the distributors in our area agree with this.

Like, they see the imaginative and prescient that that is all going to be one factor. You are not going to be shopping for separate governance and separate PAM and separate posture administration. You are going to purchase an id platform. And we’re in a terrific place to ship that.

In the event you go searching, if you’d like an unbiased impartial id firm, there is no one else has the items we now have. Nobody has privilege and entry administration. Nobody’s at close to our scale. Nobody has pure SaaS heritage and might do these integrations and would not must handle a posh mixture of shoppers which might be form of considerably upgrading to their SaaS resolution, however probably not.

And the large clients do not wish to do it, they usually’re form of managing a number of issues. We do not have these issues. And so, this market is ours to take. And we now have a lead — you recognize, the size we’re working at is, you recognize, you need to mix like two or three of the opposite firms and unbiased id to get near the size we now have.

And we are able to carry that every one to bear with our main clients and our nice engineering staff to maintain innovating and we will see outcomes like we simply noticed. I believe Jonathan used the phrase earlier than on the earlier query about inflection. I actually assume that is an inflection, and I am actually excited. Now we have work to do to again it up and maintain going, however I am actually enthusiastic about what the long run brings for Okta.

Ittai Kidron — Analyst

Great things. Thanks.

Brett Tighe — Chief Monetary Officer

Only one level to make clear, Ittai. When he was saying $100 million in $400 million, that is annualized contract worth. So, that is the entire guide of enterprise, OK? Not simply — not bookings, you stated bookings. So, I simply wish to be sure that we’re all on the identical web page.

So —

Ittai Kidron — Analyst

Sorry about that. Sorry.

Brett Tighe — Chief Monetary Officer

No, it is OK. Simply wish to be sure that we obtained the details straight. They’re big companies. They’re huge.

And we’re actually happy with the place they’ve gotten to, however we obtained a number of alternative as we transfer ahead.

Ittai Kidron — Analyst

Sounds good. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

All proper. Let’s go over to Shrenik Kothari at Baird.

Shrenik Kothari — Analyst

Hey, superior. Thanks for taking my query. Congrats on a terrific execution. Only a fast couple from me.

So, you are capitalizing on cross-selling, which is nice. And what stood out — Brett, you talked about the robust public sector efficiency, particularly integrating the client id within the public sector. So, as your federal momentum retains constructing, proper, simply curious, within the face of the near-term federal uncertainties, how are you you seeing the close to time period, medium time period, long run, form of outlooks for not simply your alternative set but additionally the execution dynamics? Any particular initiatives that is serving to you navigating these difficult federal dynamics proper now? And I had a fast follow-up.

Todd McKinnon — Co-Founder and Chief Govt Officer

Public sector for us is — contains federal, U.S. federal, in fact, U.S. business federal and, and DOD, but additionally contains all the state and native. And so, it is a huge, essential vertical for us.

So, the momentum throughout the complete vertical may be very robust, as you talked about, however let’s not lose sight of the state governments and the large offers outdoors of federal that we closed final yr and in This fall specifically. So, now, specializing in the U.S. federal particularly, I believe there’s loads — clearly, loads happening there with the brand new administration and excited about the federal government construction and effectivity and so forth, which is all tremendous essential. However huge image, the — I believe the variety of licenses that we have bought into the federal authorities, thus far, is — it is a good begin, but it surely’s comparatively low, particularly in comparison with the cash they’re spending and the complexity and the chance they’ve with their legacy id methods.

The federal authorities has a number of legacy id methods. The businesses, we have been profitable in is as a result of we have been capable of consolidate and substitute and actually assist modernize these purposes. And I believe that whenever you discuss effectivity and efficient authorities, that is — we’re like good for that. You do not have to handle servers.

You do not have to — the implementations are a lot simpler. The time the time-to-value is far increased. The quantity of individuals it takes to run our providers and run our methods at a buyer is way, far, far lower than the legacy id applied sciences the place they must improve it and preserve it. And, you recognize, it is — and it is not as a result of the — you recognize, it is not — it is as a result of the legacy expertise that surrounds these id methods is — it is onerous to combine to.

However as these issues get modernized and the federal authorities goes for extra effectivity, we will have an enormous alternative to assist them do this. And I believe, yeah, I imply, there’s most likely just a little little bit of uncertainty proper now, particularly within the first a part of the yr as issues get sorted out. However I am very assured that we will be an enormous — we will be very profitable within the federal authorities and serving to them modernize and be safer. Nobody desires a federal authorities that is not safe.

I believe that is most likely the one nonpartisan factor in Washington nowadays. And we can assist them be safer, and that is why we’re so enthusiastic about that chance.

David Gennarelli — Senior Vice President, Investor Relations

Nice. Let’s go to Grey Powell at BTIG.

Grey Powell — Analyst

All proper, nice. Thanks very a lot for taking the query. And congratulations on the nice outcomes. So, I assumed the 100 million ACV stat on OIG was — it is a good quantity, actually useful.

You known as out the 300 million on lifecycle administration workflows. So, I am curious if these clients had been to improve to OIG, are you able to give us a ballpark sense as to what the uplift could be? After which, simply how ought to we take into consideration the expansion of your governance merchandise, you recognize, on a mixed foundation over the following yr versus the remainder of the enterprise?

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, I believe the way in which to consider it’s, we have talked about this constantly now for some time, once they improve to OIG, it may be a 30- to 40-plus p.c enhance within the ACV for that buyer. So, if in case you have nothing and you purchase OIG, lifecycle, and workflows, it may be north of 40%. You probably have workflows or lifecycle, possibly it is simply within the 30% vary. However I believe whenever you take a look at the guide of enterprise and Workforce Identification, the chance is to improve all of these clients to incorporate OIG.

So, that is how huge it’s. It is fairly vital, numerous run fee, a run fee above the 100 million instantly for OIG and the 400 whole you simply talked about.

Brett Tighe — Chief Monetary Officer

And you consider one of many the reason why we’re additional specialised within the subject, to your query about possibly going ahead, Grey, is to have the ability to get in there and deeper into accounts and have the ability to do extra of those upsells that Todd was simply speaking about, proper?Whether or not you began the essential bundle and transfer all the way in which up otherwise you already obtained just a little little bit of the extra superior capabilities, the concept right here is to permit our reps to go in and have the ability to promote a few of these extra superior capabilities as a result of that is actually an enormous alternative for our clients to resolve as many use circumstances as doable.

Grey Powell — Analyst

Understood. OK. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

OK. Let’s go to Saket Kalia at Barclays.

Saket Kalia — Analyst

OK. Nice. Hey, guys, thanks for taking my query right here and echo my congrats to the staff. Todd, possibly for you, I used to be questioning if you happen to may dig into the Workforce Identification suites that you simply talked about at launch week.

And possibly the query is, what are among the suites that that we’re introducing? And the way do you make that pricing packaging engaging to a buyer that wishes to proceed to consolidate id?

Todd McKinnon — Co-Founder and Chief Govt Officer

The principle half about it’s it is less complicated, and that is what’s engaging. It helps clients perceive merely what they should purchase to achieve success. And the historical past of that is we monetize innovation over time by, you recognize, maintaining the — we principally bought clients the capabilities on the time. After which, as we added extra capabilities, whether or not there’s multi-factor or lifecycle administration, we added these as new SKUs or new merchandise.

And so — and that was nice as a result of they might add extra over time. However what you take a look at now could be simply if you happen to purchase these issues, all a la carte, there’s a number of them. And it is you recognize, common listing, single sign-on, superior single sign-on, multi-factor occasions, it is just a little bit sophisticated to purchase. And so, we took a complete take a look at it, we stated, What are the outcomes clients wish to have?” Whether or not they wish to simply get began, the workforce starter suite, after which, there’s the skilled suite, after which there’s the enterprise suite.

It is principally good, higher, greatest, that means the — if you’d like a full id material to cowl all your use circumstances, from privilege to governance to menace safety to posture administration, that is the enterprise. After which, you recognize, if you wish to do this however with out the among the extra superior capabilities, extra superior modules I talked about, you do the enterprise, after which the starter is simply the essential. So, it is simply simplicity and clarifying the — and just a little bit making the shopping for course of less complicated for our clients.

Saket Kalia — Analyst

Is sensible. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

And subsequent up, we now have Shaul Eyal at TD Cowen.

Shaul Eyal — Analyst

Thanks. Good afternoon. Congrats on the quarter and outlook. Thanks for the colour on OIG.

Are you able to possibly define for us possibly in broad strokes the profile of OIG clients? Are these new logos, present clients? Are they extra high-end enterprise or SMB-driven? Are they largely displacements or greenfield? Any colour could be tremendously appreciated. Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, completely. So, I believe the — it is — the vast majority of — the overwhelming majority of OIG clients are upsells. They’ve entry administration they usually add OIG. It isn’t 100%, but it surely’s near 100%.

There are a pair circumstances of latest lands with OIG. However in each of these circumstances, they — the shoppers went with the total entry administration suite fairly shortly after. So, yeah, you could possibly nearly consider it as, what, my major level of the reply, which is I believe we’re shifting to this world the place it is a suite. And I talked concerning the suites within the earlier reply.

And the way in which clients are excited about it’s I believe this concept that you will get governance from one vendor and privilege from one other and menace safety from one other is de facto antiquated. And we’re shifting to this world the place there’s one id platform that may cowl all these use circumstances and attempt to enhance your safety outcomes by having all of it stitched collectively and take out level merchandise. That is the place we’re going. And so, I believe once we take into consideration innovating on the product, the product must be, in fact, extra — it must be higher than the opponents.

It must be higher than SailPoint. It must be higher than Saviynt. It must be higher than the opposite small — there is a bunch of little start-ups on the market doing stuff right here — must be higher than all of these. However then it actually must be integrating with the remainder of our capabilities.

So, you want to have the ability to have governance workflows on the credentials you vault in your — within the PAM product. It has to have governance workflows constantly throughout enterprise purposes and servers and any form of useful resource you wish to management by way of Okta. Your id safety posture administration has to have common visibility and inform you alerts about human identities that may be compromised or not arrange accurately throughout any system, any id supplier. Nevertheless it additionally has to present you notifications and up to date always about nonhuman identities in a contemporary method that then you possibly can then put these in a contemporary protocol and vault these credentials with our privileged entry product.

So, that is the concept. I stated earlier than and we noticed the development proceed, I have been — I did not assume that — I did not assume that folks had been ever going to take out a governance system. That they had put in. I assumed this was like a bunch of shoppers did not have one and that might be the chance right here.

I have been stunned by the quantity of takeouts. It is nonetheless not huge. There’s a number of greenfield out of right here, and we’re having a number of success there. However there are extra takeouts than you’ll assume, particularly if you happen to embody the businesses that did not actually get that applied with.

That is the key about a few of these governance issues is that they had been software program, so that they had been bought to huge license, they usually by no means obtained it applied. And that was form of like the seller was off doing one thing else now. However within the SaaS world, you actually must make them profitable, and that is how we constructed our product to guarantee that they are often profitable. You see — we see it within the information, like, we must always launch a few of this information, subsequent report possibly that — the time-to-value and the — how a lot utilization our clients get out of our governance product in a short time is greatest within the trade.

Brett Tighe — Chief Monetary Officer

Yeah, I might simply add there — there are — along with what Todd was simply saying, there are side-by-side implementations as a result of that was a part of your query. And we’re actually enthusiastic about these for lots of causes as a result of we are able to — what Todd was simply speaking about, exhibit worth to the client and earn the best for future flows or future alternatives or the best to take out that different one. And if you happen to bear in mind what made us huge at first was we did that with entry administration. That was our play.

We by no means went in complete hog and took every little thing out. It was go exhibit worth to the client and earn the best for the following factor. And so, we’re working a really related play with governance and simply the suite technique that we’re working now, which is clearly displaying some traction with these numbers we simply produced.

Shaul Eyal — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

And subsequent up, let’s go to Josh Tilton at Wolfe Analysis.

Joshua Tilton — Analyst

Hey, guys. Thanks for sneaking me in right here, and I can even echo my congrats on an superior quarter. I believe possibly a excessive stage one for me. Naturally, I believe we form of gravitate to the workforce facet of the enterprise as having this clear agentic AI alternative.

However listening to you guys converse, it is fairly clear that you simply guys have alternatives throughout each workforce and CIAM. I assume my query is, Todd, for you, like which facet of the enterprise are you extra enthusiastic about from an agentic AI perspective? And possibly which facet do you assume will see a monetization alternative sooner and why? And you’ll’t inform me, you possibly can’t decide between your favourite youngsters.

Todd McKinnon — Co-Founder and Chief Govt Officer

You all the time have a favourite, Josh. You all the time have a favourite. I believe the client id facet is extra thrilling. I believe it is just a little little bit of a — my reply is just a little little bit of a — I am form of like having each methods as a result of a number of the — whenever you discuss builders constructing agentic AI, they’re doing it within enterprises.

So, just like the sample I used to be speaking about earlier there, there’s these groups and these firms which were tasked with — you recognize, we hear about this agent factor make it work. And the very first thing they must do is — I’ve had many conversations with clients the place they have been in these discussions and we wished — we did a POC and now we’re apprehensive about doing it broadly. However the process was principally hook every little thing as much as our present — hook these brokers as much as all of our present methods. And earlier than we may do this within enterprise, we had an excellent — must — we needed to get an excellent id basis in entrance of all this stuff.

And so, it is form of like just like you are constructing one thing and you are a developer. You are, you recognize, exposing APIs. You are doing fine-grained authorization. You take — you are utilizing one other platform otherwise you’re constructing your personal agentic AI platform, and also you’re having to speak to these methods and people APIs to do issues on consumer’s behalf.

So, you are a developer, but it surely’s form of like a workforce use case. However I believe folks constructing these methods and getting the profit from that’s actually thrilling.

David Gennarelli — Senior Vice President, Investor Relations

OK. Subsequent up, we now have Keith Bachman at BMO.

Keith Bachman — Analyst

Hello. Thanks very a lot. I simply additionally wish to congratulate particularly on the money circulate. It regarded actually spectacular and the information likewise.

Todd McKinnon — Co-Founder and Chief Govt Officer

Keith, we had been Rule of 54 in This fall.

Keith Bachman — Analyst

That is spectacular outcomes.

Brett Tighe — Chief Monetary Officer

And I did — I simply wish to say thanks, Keith, for noticing.

Keith Bachman — Analyst

Yeah.

Brett Tighe — Chief Monetary Officer

We needed to do a bunch of inquiries to get to that 42%. That was a —

Keith Bachman — Analyst

Yeah. Nicely, Todd was mentioning the gross sales pressure obtained properly paid. I assume that, Brett, you are going to search for a few of that as properly based mostly on the money circulate. However shifting on to the query, the online retention fee was 107 this quarter.

And I do know it is type of a lagging indicator. However as we march by way of the yr, how are you simply excited about it directionally when it comes to what is the places and takes? And significantly, among the issues that you simply had been speaking about because it pertains to governance and among the upsell alternatives, it might appear to me that we’re listening to that you simply’re gaining extra, you recognize, extra tractions, so to talk, in governance so that might be a supply of upside stress as we progress by way of the yr and also you anniversary among the headwinds. However simply discuss just a little bit concerning the web retention fee.

Brett Tighe — Chief Monetary Officer

Yeah, thanks, Keith, for that query. So, as you recognize, we did count on it to go down into this vary —

Keith Bachman — Analyst

Sure.

Brett Tighe — Chief Monetary Officer

On the again of wholesome gross retention. From right here, for the stability of FY ’26, what our fashions counsel is roughly on this vary, possibly plus or minus a degree. And both route actually is dependent upon new enterprise versus upsell combine. So, that is the place we’re seeing it for the stability of FY ’26.

Keith Bachman — Analyst

OK. All proper. Thanks very a lot.

Brett Tighe — Chief Monetary Officer

No downside.

David Gennarelli — Senior Vice President, Investor Relations

Let’s go to Roger Boyd at UBS.

Roger Boyd — UBS — Analyst

Superior. I am going to echo my congrats as properly. Brett, only a fast one. You talked about, I believe, document gross sales productiveness within the quarter.

Simply questioning the way you’re excited about go-to-market capability into fiscal ’26. And to what extent do you see a chance to spend money on behind a few of that power, particularly as you consider form of the gross sales specialization from right here? Thanks.

Brett Tighe — Chief Monetary Officer

Yeah, we be ok with the capability the place it’s as we speak. We really feel we’re in a extremely great place. We wish to be sure that we discover that proper stability between having sufficient capability to develop as quick as doable but additionally having a bunch of very productive reps. We do not wish to get an excessive amount of in a single route or the opposite.

We wish to be sure that the porridge is good. So, we really feel good with the place we’re proper now.

David Gennarelli — Senior Vice President, Investor Relations

OK. Let’s transfer on to Rudy Kessinger at D.A. Davidson.

Rudy Kessinger — Analyst

Hello, nice. Thanks for taking my questions, guys. On the gross sales productiveness, may you simply discuss it relative to, I assume, the place you guys had been at pre-Auth0 integration, like the place you guys are working now? And what stage of productiveness features are you baking into the fiscal ’26 information? After which, once more, I am going to add my congrats, very, very robust quarter right here, the cRPO progress acceleration, and so forth. Simply the power you noticed within the quarter, I do know Q1 is a smaller quarter, we’re solely a month into it, however have you ever seen that momentum proceed to this point in Q1, or simply what are you seeing quarter to this point?

Brett Tighe — Chief Monetary Officer

Yeah, when it comes to productiveness, it was actually good. I am unable to provide you with a evaluate again to these timeframes, but it surely was actually good. We talked about multiyear excessive, actually happy with how issues got here out. By way of your query on Q1, look, I imply, like we talked about earlier, Q1s normally are seasonally lowest, and the explanation why is we’re getting accounts in the best locations, territories in the best locations, we now have our gross sales kickoff, so February would not usually provide an excessive amount of for us when it comes to info.

And so, we clearly obtained an extended methods to go for the quarter and are excited concerning the quarter.

Todd McKinnon — Co-Founder and Chief Govt Officer

Individuals had been very excited on the kickoff.

Brett Tighe — Chief Monetary Officer

Yeah, that is an excellent level.

Todd McKinnon — Co-Founder and Chief Govt Officer

I assume that is not nothing.

David Gennarelli — Senior Vice President, Investor Relations

OK, I do know we now have much more fingers raised, we’re on the prime of the hour, however let’s attempt to take just a few extra right here. I am going to go to Kevin [Inaudible] from BofA, in for Madeline.

Unknown speaker — — Analyst

David, that was fairly good to your first time.

David Gennarelli — Senior Vice President, Investor Relations

Sorry.

Unknown speaker — — Analyst

Powerful final identify. Thanks. Thanks for taking my query. I assume I’ve two fast questions for you.

The primary one is, on this quarter, had been there any massive one-off offers that led to the outperformance, or did the atmosphere actually inflect? After which, I assume my second query is wanting into the long run. Are these developments that you simply noticed in 1Q, are they sustainable, or what ought to we count on in order that the Avenue can form of reset their fashions going ahead?

Brett Tighe — Chief Monetary Officer

Yeah, I imply, I am going to take the primary half. And, Todd, you possibly can add in the way you see match, which is we had a number of huge offers. There wasn’t anybody single deal that was outsized relative to the remaining, however we had a number of huge offers. That is why we gave you the stat of prime 25 offers, over $320 million in whole contract worth.

So, it goes again to essentially all of the work we put in all through FY ’25, whether or not or not it’s a brand new product introduction, which we have talked about, enhancing companions, additional specializing the sector, doubling down on safety. These are all issues that helped us construct towards this This fall that was so profitable.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, simply from an organization, like a tradition and a management perspective, we’re right here to construct a big, rising, essential firm. So, we count on an increasing number of quarters like this. I believe, you recognize, this was a blowout, so it is robust to repeat this precisely, however that is the expectation we now have. We’re not right here to construct a slow-growing firm.

We’re right here to construct an organization that is altering the trade and going to essentially clear up this downside of id safety and assist firms obtain their goals and free them to make use of any expertise. So, that is what we’re obsessive about doing. And that is why we present up on daily basis, working onerous making an attempt to do.

Unknown speaker — — Analyst

Nice. Thanks, guys.

David Gennarelli — Senior Vice President, Investor Relations

Subsequent, we now have Peter Levine — Peter Levine.

Peter Levine — Analyst

Thanks, guys. Possibly only one. You recognize, what are you seeing when it comes to, like, the ratio of, like, nonhuman AI brokers to workers? And I ask as a result of I assume I wish to perceive, like, the pricing mannequin and, maybe, you recognize, whenever you’re speaking to your clients, what are they keen to pay for? If it is 1 to five, or 1 to 40. Simply curious to understand how you worth that and, you recognize, when do you assume it should grow to be possibly agreed to your prime line.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah. One of many issues that we do not have as we speak is the trade would not have a strategy to, like, establish an agent. I do not imply within the sense of, like, authenticating or validating an agent. I imply to truly a common vernacular for document an agent and observe it and account for it.

And so, I believe that is one thing you will see coming. You will see there will be truly a sort of account in Okta that is an agent account. You will see firms beginning to, once they purchase software program, they are saying, “Hey, I purchase these many individuals and this many agentic licenses.” And that is not fairly there but. In fact, platforms which might be popping out with agent variations have this to some extent, however there is not a standard cross-company, cross-enterprise definition of an agent, which is an fascinating alternative for us, truly.

We do know within the enterprise as we speak, there is a vital quantity of — there’s considerably extra machine-to-machine interactions. Neglect about brokers. There’s a number of API calls and a number of tokens and a number of API entry administration that is finished on the Auth0 platform and the Okta platform. And like I stated, I believe that is the machine a part of that with brokers may enhance by two orders of magnitude if the potential is that top.

Peter Levine — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

Go to Matt Hedberg at RBC.

Matthew Hedberg — Analyst

Nice. Thanks, Dave, for the query. You recognize, Todd, like I believe a number of us are simply sitting again right here form of seeing all of the alternatives that you simply guys have right here. And the questions that I am getting from my inbox is like there’s loads that we are able to take into consideration when it comes to fiscal ’26 and past.

And once more, it is form of getting again to the query of choosing your favourite little one. However, you recognize, between like all the catalyst that you’ve going right here, we’re sitting right here 12 months from now.

Todd McKinnon — Co-Founder and Chief Govt Officer

Massive enterprise.

Matthew Hedberg — Analyst

Massive enterprise success. OK.

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah, sorry, I did not imply to chop you off, however I believe the reply is so clear in my thoughts. Nicely, as I work on these huge transformative offers with these clients, it is simply completely different than it was a yr in the past and two years in the past. You may see the merchandise are there, you possibly can see the patrons are prepared, you possibly can see the companions. I work on these huge offers with these world methods integrators, they usually’re turning their complete practices to safety and to trendy id.

They’re finished with the entire — they’re finished with the entire, you recognize, we will set up software program to handle your id. That is out. They want a cloud resolution, and we’re the one sport on the town. Until you wish to go along with Microsoft and simply form of wrap your whole firm up in a single firm, which none of those massive enterprises can do.

I discussed this world expertise firm, they’ve an E5 license. So, Microsoft has licensed to them each id product they’ve. Did not matter as a result of they are not going to wind their complete future round Microsoft. They’ve three infrastructure clouds.

They’ve these firms, the complexity and the expanse of what their id challenges are as far past what one firm that is not targeted on it may do, and we’re the one sport on the town. We’re cloud model. Now we have all of the elements of the suite. So, sure, once we’re speaking in a yr, if I am off to one thing and never massive enterprise, then you possibly can name me on it.

Matthew Hedberg — Analyst

Obtained it. Thanks loads. Better of luck.

Brett Tighe — Chief Monetary Officer

Yeah. I might simply add to that, Matt, within the sense of I take into consideration what we advised you most likely 4 or 5 quarters in the past. There are 4 issues we will work on. Safety, new merchandise, companions, additional specializing.

We will maintain engaged on all these issues as a result of that is what — that is what’s going to drive what Todd simply talked about. So, it labored in This fall. We imagine these are the best vectors of progress for us. We are going to proceed to do these issues to have the ability to seize the chance as quick as doable.

Matthew Hedberg — Analyst

Thanks, guys.

David Gennarelli — Senior Vice President, Investor Relations

Let’s go to Patrick Colville at Scotiabank.

Patrick Colville — Analyst

Cheers, Dave, and thanks for taking my query right here. So I assume, let me simply sneak two quickies in. I imply, if I look again at this quarter and final, the cRPO beats have gotten considerably bigger. And also you stated this was a blowout quarter, however I assume, how ought to we take into consideration the steerage philosophy, Brett, for cRPO beats heading into 2025? After which, Todd, I assume only for you, most of your ready remarks had been truly concerning the workforce enterprise, however the disclosure you guys give round form of ACV progress, you recognize, it regarded like truly buyer id was the actual power in 4Q with ACV rising 16%.

So, I assume simply discuss to us about like why do you sound so pumped within the ready remarks about workforce when it looks as if the client enterprise is definitely what’s actually form of the rocket ship proper now?

Brett Tighe — Chief Monetary Officer

I am going to take the primary, which is across the steerage philosophy. Like we talked about final time, final quarter, we talked about lowering the extent of conservatism within the mannequin. Now, we had a blowout quarter. I can solely achieve this a lot, and we will shut as a lot enterprise as we presumably can.

If it blows up the steerage philosophy on this state of affairs, I am comfortable to have that downside. However you possibly can see the steerage philosophy in motion within the sense that we had a really massive quarter, and also you see the income progress going up by a really vital quantity, going from 7% to 10%, a elevate of $80 million, and we’re giving it to you proper there. So, in different phrases, no matter that upside, that huge upside you simply noticed, you are seeing it mirrored in our steerage instantly. So, that’s going to be our technique going ahead and our philosophy going ahead.

And I am going to let Todd discuss concerning the progress charges.

Todd McKinnon — Co-Founder and Chief Govt Officer

Sure, I believe each Auth0 and Okta had actually robust quarters. The Auth0 quarter was the largest ever. So I do not — my remarks possibly weren’t correct within the sense that I wish to mirror the power in each of these respective companies that I labored very carefully. I’ve talked about just a few occasions on the decision this Fortune 500 tech firm was an enormous workforce deal.

I additionally labored on a name-brand world meals and beverage firm that purchased Auth0 to be the entrance door login for his or her whole cell app, which has big quantity. So, there’s success on either side. And I believe, you recognize, it provides us a range within the enterprise that’s actually highly effective, actually provides us that seat of the desk to assist clients with these strategic issues, it provides us credibility, it provides us scale. I imply, once we discuss concerning the money circulate and the Rule of 54 and the over $700 million of money generated final yr, it is due to the size.

I imply, we spent 16 years constructing this enterprise that has amazingly loyal, comfortable clients. So, it provides us the chance to offer — you recognize, do all of the work we have finished in safety and do all of the product innovation on the similar time, producing a number of money. So it is a good place to be in going ahead.

Patrick Colville — Analyst

OK. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

Making an attempt to get by way of 5 questions right here over the following seven minutes. So, we’ll go to Mike Cikos at Needham.

Mike Cikos — Analyst

Nice. Thanks for taking the questions, guys, and congrats on the quarter from our finish as properly. Two-parter right here, however first on the OIG. Simply wished to ensure we’re all going to be working our numbers now on the $100 million in ACV versus the 1,300 buyer depend.

If we’re, name it, about 75,000 per buyer, does that — is {that a} truthful evaluation of what clients are paying you presently for OIG? Or is that skewed by any of your energy clients like the large energy customers —

Todd McKinnon — Co-Founder and Chief Govt Officer

No, I believe that is an excellent — that is an excellent common. That is an excellent common. Sure. I imply, clearly, there’s some huge ones and a few small ones, but it surely’s good common.

Mike Cikos — Analyst

After which, the second piece is the AWS debt that we obtained as we speak, strong progress. If I am working the numbers on my facet, is that now north of 10% of Okta’s ACV? Have we breached that threshold but?

Brett Tighe — Chief Monetary Officer

It is a better rising proportion. It’s undoubtedly, as you noticed the 80% income progress in FY ’25,

Mike Cikos — Analyst

Yeah.

Brett Tighe — Chief Monetary Officer

I imply, it is undoubtedly getting huge now, which is without doubt one of the the reason why we’re so enthusiastic about it, whereas we’re one of many companions of the yr — we had been the companion of the yr. And so, yeah, we’re enthusiastic about that chance as a part of the 4 that we have talked about, proper? It is below the partnership umbrella that we talked about all through this name.

Mike Cikos — Analyst

Glorious. Thanks, guys.

David Gennarelli — Senior Vice President, Investor Relations

Sure, let’s go to Fatima Boolani at Citi.

Fatima Boolani — Analyst

Thanks very a lot for squeezing me in. Todd, I wished to return to one thing you talked about as regards to launch week, the place there was a devoted CIAM product now for the U.S. public sector. So, you gave us a number of good causes to understand why you will not be type of victimized by, you recognize, the DOGE efforts and mandates, and that is fairly compelling —

Todd McKinnon — Co-Founder and Chief Govt Officer

The effectivity has no sufferer. Effectivity —

Fatima Boolani — Analyst

And so, simply as regards to the chance for the client identity-centric options, do you largely see that as a greenfield alternative? I imply, definitely, we’re huge shoppers, and myself — I am an enormous client of presidency providers. So, what does that chance appear like as we speak between DIY, you recognize, and/or different form of business opponents? And why proceed to double down on investments —

Todd McKinnon — Co-Founder and Chief Govt Officer

Sure. It is a — I imply it is an enormous market, and it is — we have seen success within the enterprise. We did the ACV progress charges. We launched ACV progress charges.

It is — the ACV progress is quicker than the workforce enterprise at 16%, I imagine, was the ACV stat we launched. And I believe it is — I believe if you happen to return the final three years, you’ve got finished nice work following for just a few years now. And I believe what you are seeing now could be nearly form of a resurgence of the workforce enterprise in our personal minds and our personal psychologies. For a very long time, we thought that this buyer alternative is so huge, so huge, let’s concentrate on that, and possibly let’s not focus as a lot on the workforce enterprise.

I believe what you are seeing is us realizing that enterprise is huge as properly. And with the safety initiatives and the way id is de facto the middle of safety nowadays and the way you need to have id in place to get good safety outcomes, I believe you see us speaking about that extra. However that does not belong to the truth that whether or not it is governments or whether or not it is tech firms, SaaS firms, whether or not it is firms in different industries, you recognize, this infrastructure and the way they authenticate customers. And, you recognize, we are the — one other huge deal in This fall was, you recognize, we are the by far the chief in authenticating the chatbots.

So, we principally have all the main chatbots on the market, even from some clients that some huge firms that may have competing applied sciences with us on the workforce facet. We are the authentication now for all their chatbots. So, the chance on that facet is huge and essential, and we’re making an attempt to seize each of them.

Fatima Boolani — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

OK. Let’s go to Brian Essex at JPMorgan.

Brian Essex — Analyst

Hello. Good afternoon. Thanks for taking the query. Nice to see the monster acceleration on RPO and good acceleration on cRPO as properly.

I believe, Brett, final quarter, on our name again, you famous that a part of the explanation for this sort of like disparity within the progress fee between the 2 is that you simply shifted otherwise you, I assume, enhanced incentive to promote longer length contracts. So, clearly, if it is not broke, do not repair it. However possibly for Todd, are you able to assist us perceive what among the conversations with enterprises are like there with regard to these longer-term contracts? What are their incentives? And the way a lot visibility does this provide you with form of in cRPO acceleration, for instance, as these longer-duration contracts amortize into the present class?

Todd McKinnon — Co-Founder and Chief Govt Officer

Yeah. The conversations are — I believe it is a signal of the displacements, like what number of merchandise they’re displacing. They understand that if they will wager on a vendor that is going to switch 10, 15, actually 25, 30 merchandise. It is loopy what number of id merchandise these huge firms have.

In lots of circumstances, it is the identical product in a number of divisions, or it is the identical, you recognize, infrastructure personalized other ways. So when you’ve got that form of dialog, Brian, they are much extra apt to join a long term simply because, give it some thought, they’ve an enormous GSI they usually’re excited about changing they usually have a multiyear timeframe, they usually’re — it is just like the mindset upfront is like it is a strategic platform versus one other factor that may be extra tactical, and, hey, we’ll come right into a yr, and we’ll see what it is like. And I believe that is the largest factor I might name on the market.

Brian Essex — Analyst

Obtained it. That is useful. Thanks.

David Gennarelli — Senior Vice President, Investor Relations

OK. Peter Weed at Bernstein.

Peter Weed — Analyst

Hey, thanks a lot, and congrats on the continued progress. I am clearly actually excited like many individuals round possibly the expansive alternative that form of agentic id gives. You recognize, I believe as we speak available in the market, it is most likely modestly adopted as a chance. You recognize, I believe you are already seeing actually nice traction.

Once you form of look ahead on the pipeline of buyer demand for this and the place this might get to, you recognize, how materials may the size of this be relative to the variety of employees that you simply cowl or some of these issues once we begin to consider doable right here?

Todd McKinnon — Co-Founder and Chief Govt Officer

I believe it is — it might be huge. And I believe we are able to probably — we now have extra work to do and discuss — we have got to present you people extra particulars about our plans there, and we’ll do this, however we now have our showcase occasion developing in April. We’ll discuss extra about this. However we are able to monetize it on “either side,” that means, folks constructing the brokers and folks utilizing the brokers, you recognize, the brokers must log in, they usually must log in to one thing.

So, I believe it is potential to monetize it on either side. However no matter we do right here, I believe it may be like every little thing we do. It will be pre-integrated, it may be throughout all completely different sorts of expertise. It isn’t going to be tied as much as one cloud or one app or one collaboration instrument or one chatbot, it may be very impartial and unbiased.

I believe that is what clients need.

Peter Weed — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

And we’ll wrap issues up with Andy Nowinski at Wells Fargo.

Andrew Nowinski — Analyst

Nice. Thanks for squeezing me in. Todd, I believe your feedback on the significance of a platform is like an itch that clients have had for a few years however may by no means scratch. So, it is sensible that you simply’re seeing, you recognize, clients gravitate towards this platform.

However once we take a look at the brand new elements of that platform, OIG and PAM, it does appear to be these are possibly extra massive buyer instruments. I am simply questioning if you happen to assume, you recognize, the OIG and PAM options are relevant to your whole put in base. Or are they extra focused at these bigger clients? And similar factor on the platform sale. Is that extra of a big buyer deployment?

Todd McKinnon — Co-Founder and Chief Govt Officer

I believe that is the — I believe that is the explanation — I do not assume that impression is true. And I believe the explanation why folks have that misimpression is that the PAM market and governance market, the merchandise had been so onerous to put in and configure and put on-premise, that is why massive firms used them. I believe now that we have made it really easy and built-in and accessible, I believe that is why you are going to see this greenfield alternative actually blossom. It is very related like Brett was saying earlier, that is how we did entry administration.

After we began Okta, it was like, oh, we’ll simply make it very easy for smaller firms which might be adopting a bunch of SaaS apps. And so they went to hook it as much as energetic listing on-prem, make it tremendous straightforward. After which, you recognize, you’re employed actually onerous for 5 years and 7 years and 10 years, and fairly quickly, it is such as you actually end up someplace. And I believe we will see the identical factor right here the place we will work onerous on this.

We have been at it for actually three and half years now, constantly engaged on it, staying utilized, not get distracted. The staff is cranking, clients driving success, and you are going to see the identical factor blossom right here on this unified platform over the following few years.

Andrew Nowinski — Analyst

Thanks.

David Gennarelli — Senior Vice President, Investor Relations

Glorious. Thanks for everyone’s endurance, and admire you going together with us right here. Earlier than we go, I simply wish to let buyers know that along with internet hosting onsite digital bus shops, we’ll be attending the Morgan Stanley convention in San Francisco this Wednesday, KeyBanc tech convention in San Francisco this Wednesday as properly, the Susquehanna digital convention on Thursday, March sixth, the Evercore Cybersecurity Summit in New York Metropolis on April 1st, and the Wells Fargo Software program Symposium in Menlo Park right here in California on April tenth. So, we hope to see you at a type of occasions, and we’ll discuss to you then.

Thanks.

Todd McKinnon — Co-Founder and Chief Govt Officer

Thanks, everybody.

Length: 0 minutes

Name contributors:

David Gennarelli — Senior Vice President, Investor Relations

Todd McKinnon — Co-Founder and Chief Govt Officer

Brett Tighe — Chief Monetary Officer

Dave Gennarelli — Senior Vice President, Investor Relations

John Difucci — Analyst

John DiFucci — Analyst

Eric Heath — Analyst

Brad Zelnick — Analyst

Joseph Gallo — Analyst

Joe Gallo — Analyst

Gabriela Borges — Analyst

Adam Borg — Analyst

Jonathan Ho — Analyst

Ittai Kidron — Analyst

Shrenik Kothari — Analyst

Grey Powell — Analyst

Saket Kalia — Analyst

Shaul Eyal — Analyst

Joshua Tilton — Analyst

Keith Bachman — Analyst

Roger Boyd — UBS — Analyst

Rudy Kessinger — Analyst

Unknown speaker — — Analyst

Peter Levine — Analyst

Matthew Hedberg — Analyst

Matt Hedberg — Analyst

Patrick Colville — Analyst

Mike Cikos — Analyst

Fatima Boolani — Analyst

Brian Essex — Analyst

Peter Weed — Analyst

Andrew Nowinski — Analyst

Andy Nowinski — Analyst

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