[flockonus]

Stock 41% up in the last 12 months is not appropriate.. it basically signals, "buy at a huge discount after each incident, we'll keep it rising regardless".

At this point, one could speculate they are not worth almost at all given they fail to deliver on their primary value proposition. They are not and have not been profitable either, only getting worse: https://finance.yahoo.com/quote/OKTA/financials?p=OKTA

[faeriechangling]

This sort of business doesn’t have to immediately realize a profit they just have to expand their base of customer and dig their claws deeper into their customers core infrastructure. Once they do that they can exploit their customers for years before they’l be able to escape. Since they are frequently going to be competing in “lowest bidder wins” competitions they’re be foolhardy to try and make a profit up front honestly, counter-intuitively it would be lighting money on fire. This is also a product with pretty substantial benefits from scale, as Okta gets bigger more things integrate with them so they’re easy to integrate with so they get bigger…

I’m just wondering who in the industry is still stupid enough to stick their neck out for Okta? Why are they getting new customers? Why not go with the other devil you know your cloud provider to offer mostly the same services? What is Okta offering when they seem relatively incompetent compared to the competition that often offers their products for cheaper up front?

[bagels]

They're still growing revenue, at least as of July.