On August 30 2023, OKTA ($NASDAQ:OKTA) released their financial results for the second quarter of FY 2024, which ended on July 31 2023. Their total revenue was USD 556.0 million, a 23.1% increase from the same period in the previous year. However, their net income for the quarter was reported as USD -111.0 million, a decrease from the -210.5 million in the same period of the prior year.
GoodWhale’s analysis of OKTA‘s financials has concluded that OKTA is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be of interest to risk-seeking investors who are looking for higher returns. Despite its lower profitability, OKTA has an intermediate health score of 6/10, indicating that it may be able to safely ride out any crisis without the risk of bankruptcy. When it comes to OKTA’s strengths, the company is strong in growth and medium in assets. However, where OKTA falls short is dividend and profitability. This could be a major concern for potential investors, as dividends and profitability are key indicators of a company’s health. As such, they may need to consider other more stable and profitable investments. Nevertheless, the high growth potential of OKTA may still make it an attractive prospect for some investors. 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. OKTAs_Q2_FY2024_Earnings_Show_23.1_Increase_in_Revenue_to_USD_556.0_Million”>More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Okta. OKTAs_Q2_FY2024_Earnings_Show_23.1_Increase_in_Revenue_to_USD_556.0_Million”>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. OKTAs_Q2_FY2024_Earnings_Show_23.1_Increase_in_Revenue_to_USD_556.0_Million”>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. OKTAs_Q2_FY2024_Earnings_Show_23.1_Increase_in_Revenue_to_USD_556.0_Million”>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.
Investors interested in OKTA should take note of the company’s FY2024 Q2 earnings results, reported on August 30 2023. Total revenue for the quarter was USD 556.0 million, a 23.1% increase from the same period last year.
However, net income for the quarter was reported as USD -111.0 million, a decrease from the previous year’s -210.5 million. This suggests that while the company is growing its revenue, it is not managing to convert that growth into profits. Investors should assess whether the organization’s plans for the next year are likely to result in improved profitability.
Additionally, they should also watch out for any other factors that could impact the company’s future performance.