Whether one looks at customer growth rates, Net retention rates, forward P/S, etc…CRWD seems to blow away OKTA…margins are very similar between the two companies. Which of course leads me to ponder…with the comparison you made with MDB…why do you have 16% of your portfolios tied up in OKTA??
Hi Duma, I just can’t have everything tied up in Datadog and Crowdstrike. It just would be too volatile and too dangerous. And Okta isn’t just racing in the wrong directions the way Mongo was. For example, Okta’s free cash flow last quarter was $9.2 million up from $1.4 million a year ago while Mongo’s free cash flow loss just grew, and Okta’s adjusted EPS loss was 7 cents a share while Mongo’s was 26 cents per share). To me, Okta has a clear success pathway, while Mongo’s is less clear.
At any rate, my Crowdstrike position at 16.0% has now passed my Okta position at 14.4%.
Best,
Saul