Todd McKinnon

Well, the business is doing great.

We had a solid third quarter.

I think what the market is digesting is this massive opportunity ahead of us to secure AI.

And what everyone's realizing is that to secure AI, you have to secure identity.

All these companies are trying to roll out AI agents.

And to make these agents useful, they have to be connected to all of a company's data.

If it's not connected to a company's data and the agent can't work on that data, it's no better than a consumer chat GPT or Gemini.

And we can help companies connect their agents to data in a secure and manageable way so they can get a great agentic experience for their customers and employees and keep it all secure.

Well, the inbound interest we have for these new products, Okta for AI Agents, is something like I've never seen in my history at Okta.

And so everyone is very interested, but they're all stuck.

They're stuck because they're realizing they have to connect it to their company's data, and that's challenging.

They have two choices.

They can put it all in a data warehouse right in the middle and give the agents access to everything, which is problematic because they don't know what the agents are going to do with it.

Or they can just have a very vanilla watered-down experience where it looks just like the consumer chat GPT you would use at home.

So we offer a better choice.

We can connect it to that data in a secure way that lets them govern and manage it, and that's why the interest is so high.

So this is, I think, a big unlock, and that's what I think everyone is starting to realize.

Yeah, the way I like to explain it is these companies have to choose the right platforms and systems to build out this AI future.

And imagine, like an analogy I use is imagine if you had to choose one streaming service.

You had to pick one.