Shares of (NASDAQ: OKTA) tumbled out of the gate Thursday, losing as much as 22.8%. As of 11:34 a.m. ET, the stock was still down 20.3%.

The catalyst that sent the cybersecurity specialist lower was its quarterly earnings results, which were something of a mixed bag.

For its fiscal 2024 first quarter, Okta generated revenue of $518 million, up 25% year over year, fueled by subscription revenue, which grew 26%. The company's focus on costs helped boost its bottom line, as it swung from a loss to a profit, with adjusted diluted earnings per share (EPS) of $0.22. 

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Source Fool.com