Demand ConcernsThe decline in the cRPO coverage ratio raised investor worries about hidden signals of weakness in demand, contrasting with the company's narrative.
GuidanceGuidance suggests trends are likely to deteriorate further, with 2Q cRPO guidance of 11% growth compared to Street’s 14% implying QoQ deceleration versus the historical seasonal pattern of acceleration.
Revenue GrowthAfter Okta’s earnings the stock dropped over 15%, reflecting concerns over a thinner in-quarter revenue beat and no fiscal year raise, which implied lower future quarters.