CrowdStrike and Okta beat expectations in July quarters

CrowdStrike and Okta both reported better-than-expected results for their July quarters, sending shares up in late trading. CrowdStrike rose more than 10% and Okta more than 19%, with both companies raising their full-year outlooks.

CrowdStrike posted adjusted earnings of 31 cents per share on revenue of $1.47 billion, up 26% year-over-year. Net new annual recurring revenue reached $332.8 million, up 51%, and total ARR stood at $5.84 billion. The company highlighted the launch of Continuous Identity for AI Agents and the acquisition of XM Cyber’s technology assets.

Okta delivered adjusted earnings of $1.05 per share on revenue of $805 million, up 11%. Remaining performance obligations rose 17% to $4.858 billion. The company agreed to buy Permiso Security for just under $200 million, and executives pointed to AI agent adoption as a driver of demand for identity controls.