Okta’s Execution Mess
Memos by Heller House
Okta, the cloud identity provider, reported earnings this week and while the results were very strong on the surface, the company flagged extensive challenges integrating its Auth0 acquisition, sending the stock down over 30 percent and wiping $4.7 billion in shareholder value.
Integrations are always difficult and touch every part of an organization. While we are making progress, we’ve experienced heightened attrition within the go-to-market organization as well as some confusion in the field, both of which have impacted our business momentum. In order to improve our performance going forward, we’ve implemented a number of action items.
Great CFOs are extremely rare, and great CFOs at specialty businesses like fast-growing SaaS companies seem to be rarer still.
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