On July 31 2023, OKTA ($NASDAQ:OKTA) announced their financial results for the second quarter of FY2024, with total revenue reaching USD 556.0 million, a year-on-year increase of 23.1%. Net income for the quarter stood at USD -111.0 million, a marked improvement from the -210.5 million recorded in the same period in the previous year.
GoodWhale conducted an analysis of OKTA‘s wellbeing and based on Star Chart OKTA is classified as a “cheetah”, a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. OKTA is strong in growth, medium in asset and weak in dividend, profitability. OKTA has an intermediate health score of 5/10 considering its cashflows and debt, which suggests that it might be able to pay off debt and fund future operations. Given the high revenue and earnings growth but lower profitability of OKTA, it would be most suitable for investors with higher risk appetites, such as venture capital firms or hedge funds, who are looking for the chance to increase their returns through higher risk investments. These investors may also be attracted to the medium asset stability of OKTA due to its potential return on investment if the company can leverage its growth and achieve profitability. Furthermore, OKTA’s debt level and cashflows suggest that it may be able to pay off debt and fund future operations. More…
Risk Rating Analysis
Star Chart Analysis
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Okta. OKTA_Reports_Q2_FY2024_Revenue_of_556_Million_Up_23.1_YY”>More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Okta. OKTA_Reports_Q2_FY2024_Revenue_of_556_Million_Up_23.1_YY”>More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Okta. OKTA_Reports_Q2_FY2024_Revenue_of_556_Million_Up_23.1_YY”>More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Okta are shown below. OKTA_Reports_Q2_FY2024_Revenue_of_556_Million_Up_23.1_YY”>More…
Income Statement Ratios
Balance Sheet Ratios
Cash Flow Ratios
Other Supplementary Items
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Its competitors include Ping Identity Holding Corp, Zscaler Inc, and CrowdStrike Holdings Inc.
– Ping Identity Holding Corp ($NASDAQ:ZS)
Zscaler Inc is a cloud-based information security company that provides internet security, web security, next-generation firewalls, sandboxing, and zero-day protection. It has a market cap of 22.04B as of 2022 and a ROE of -37.32%. The company was founded in 2007 and is headquartered in San Jose, California.
CrowdStrike Holdings Inc is a cybersecurity technology company. The company provides software and services to protect against cyber threats. CrowdStrike Holdings Inc has a market cap of 37.62B as of 2022, a Return on Equity of -6.41%. The company’s products and services are used by organizations worldwide, including Fortune 500 companies, government agencies, and small businesses.
Okta Inc. (OKTA) reported its second-quarter financial results on July 31, 2023, showing a 23.1% year-on-year increase in revenue to $556 million. Despite this, the company posted a net income of -$111 million, an improvement from the -$210.5 million reported in the same period of the prior year. Investors should be encouraged by this increase in revenue and improvement in net income, indicative of the company’s positive growth trajectory and ability to weather the economic downturn. Okta’s cloud-based solutions are expected to continue to drive strong financial performance in the future, offering an attractive investment opportunity.