Okta's earnings exceed expectations, and the company provides optimistic outlook.

• On Tuesday, Okta's stock price increased in extended trading after the company released its third-quarter results, which exceeded analysts' expectations.
• Revenue increased 14% from $569 million a year ago.
• Okta anticipates revenue in the current quarter to be between $667 million and $669 million, surpassing expectations.

On Tuesday, the identity management company's shares rose more than 18% in extended trading after its third-quarter results surpassed analysts' expectations and it provided optimistic forecasts.

Here's how the company did:

• Earnings per share: 67 cents adjusted vs. 58 cents expected by LSEG.
• Revenue: $665 million vs. $650 million expected by LSEG.

Okta enables businesses to control employee access to applications and devices through features such as single sign-on and multifactor authentication. The company achieved profitability in the latest quarter, reporting net income of $16 million, or 9 cents per share, compared to a net loss of $81 million, or 49 cents per share, in the same period the previous year.

The company reported $651 million in subscription revenue for the quarter, which was 14% higher than the revenue from a year ago, according to a release. This revenue beat the average analyst estimate of $635 million, as reported by Street Account.

"Okta CEO Todd McKinnon stated that our Q3 results were solid and were supported by continued strong profitability and cash flow. Our investments in our partner ecosystem, public sector vertical, and large customers are paying off as each of these areas is contributing significantly to our top-line growth."

Okta anticipates reporting revenue of $667 million to $669 million in the fourth quarter, surpassing the average estimate of $651 million, according to LSEG. Additionally, the company expects to earn 73 cents to 74 cents per share, which is also above expectations.

While the Nasdaq has risen 30% in the past year, Okta's shares have fallen 10%.

Okta will host its quarterly call with investors at 5 p.m. ET.

WATCH: CNBC's full interview with Okta CEO Todd McKinnon