-33%

est. 2Y upside i

CybersecurityDevOps & InfraSeries D+

Rank

#3574

Sector

Cybersecurity, Developer Tools, Identity and Access Management

Est. Liquidity

~0Y

Data Quality

Data: High

Auth0, now a key part of Okta's Customer Identity Cloud, operates within a company that is profitable and generates strong free cash flow, with FY2026 revenue of $2.919 billion.

Last updated: March 10, 2026

Bull (30%)+75%

Okta successfully leverages Auth0's developer-first approach and expands its AI agent security offerings, capturing significant market share in the emerging AI identity space. This, combined with strong execution in its core workforce identity, drives overall revenue growth back to mid-teens (13-15% YoY) and expands non-GAAP operating margins to 28-30%, leading to a market capitalization of approximately $25 billion.

Base (35%)+10%

Okta maintains its market position, with Auth0 continuing to contribute to Customer Identity and Access Management (CIAM) growth, but overall revenue growth remains in the high single digits (9-10% YoY) as guided for FY2027. Profitability remains strong with non-GAAP operating margins around 25-26%, but competitive pressures from Microsoft and others limit significant multiple expansion, resulting in a market capitalization of approximately $15.7 billion.

Bear (35%)-40%

Increased competition, particularly from Microsoft Entra ID and other well-funded players, leads to pricing pressure and market share loss. Integration issues with Auth0 persist, impacting customer satisfaction and retention. Revenue growth slows further below 9% and profitability declines, resulting in a market capitalization of approximately $8.6 billion, significantly impacting common stock value.

Est. time to liquidity~0.0 years

Preference Stack Risk

low

Funding Intensity

5%

Auth0's historical funding intensity was 5.1% ($333M total funding on a $6.5B acquisition valuation), indicating a low preference stack for Auth0 shareholders at the time of acquisition. For an employee receiving Okta (OKTA) public stock, liquidation preferences are not directly applicable as they hold common shares in a publicly traded company.

Dilution Risk

moderate

As a public company, dilution primarily comes from stock-based compensation and potential future share offerings, though Okta's $1 billion share repurchase program may help offset some dilution.

Secondary Liquidity

active

Okta (OKTA) is a publicly traded company on NASDAQ, offering immediate and active liquidity for equity holders.

View all 12 open roles at Auth0 →

Last updated: February 18, 2026

Questions to Ask at the Interview

Strategic questions based on Auth0's data — designed to show you've done your homework.

  • 1

    “Given the recent deceleration in Okta's overall revenue growth guidance to 9% for FY2027, how does the Auth0 business unit specifically plan to contribute to re-accelerating growth, particularly in the competitive CIAM market?”

  • 2

    “With the increasing focus on AI agent security and new products like 'Auth0 for AI Agents,' what are the key strategic initiatives and investment areas to ensure Okta captures a leading position in this emerging market segment?”

  • 3

    “Considering the reports of declining customer support quality and unpredictable pricing post-acquisition, what steps are being taken to address these concerns for Auth0 customers and ensure long-term customer satisfaction and retention?”

Community

Valuation Sentiment

Our model estimates -33% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.