Core Business ChallengesManagement pointed to lowered assumptions for seats and monthly active users, indicating continued challenges within core components of the business.
Market CompetitionOKTA could continue to face challenges upon customer renewals as security buyers opt to use alternatives like Microsoft for MFA/SSO, CyberArk for PAM, and SailPoint for IGA.
Workforce ManagementThis announcement represents Okta’s third RIF in three years, suggesting ongoing challenges in managing workforce and demand.