Shares of Okta (NASDAQ:OKTA) soared nearly 17% in pre-market today after the digital identity verification provider delivered a strong third-quarter performance, including a shift to profitability and robust revenue growth.

For the quarter, revenue climbed 14% year-over-year to $651 million, while the company achieved net income of $17 million, a significant turnaround from the $81 million loss reported in the same period last year.

Okta attributed its solid performance to strategic investments in its partner ecosystem, the public sector, and large enterprise customers, which contributed significantly to top-line growth and bolstered profitability and cash flow.

Looking ahead to the fourth quarter, Okta forecast revenue between $667 million and $669 million, reflecting year-over-year growth of 10% to 11%. The company also projected current remaining performance obligations (cRPO), a key indicator of backlog, to range between $2.13 billion and $2.135 billion, marking a 9% increase from the prior year.