Dang! So much for this rocketship 🚀 taking a breather. It must be using SpaceX thrusters!!😉
OKTA Announce earnings at the clothes yesterday. The company had another great quarter. I would describe it as, “nothing to see here. Par for the course.” I had hoped to see some acceleration in the growth based on COVID-19, but instead they came in with solid revenue growth equal to last quarter at 46% q/q. They crushed expectations On the top and bottom line, beating earnings by $.10 cents a share. Then they slightly increased both revenue and earnings expectations for next quarter. To top it all off, they pulled a trick from Steve Jobs after the very positive call with a metaphorical “Oh, and one more thing…” we partnered up with Amazon AWS to provide better cyber security and single sign out!! Not surprised it is up over 5% today and very happy it is my second largest position. Be well and have a great weekend, my friends. 🙏
Clothes?! = Close 😱
One other note: To be clear, it was not all perfect and rosy. They spoke of some headwinds in this pandemic and while their revenue is growing nicely in their existing customer base and they are adding new customers, their new customer count growth decreased slightly indicating headwinds. I don’t feel they will benefit as much as some other cyber security companies such as crowdstrike and ZS, but I came away from the earnings call feeling very good about the companies performance overall and happy to be hitched to this wagon.
