$OKTA is getting zero leverage on growth and zero leverage on its acquisition of Auth0.

LTM gross profits grew $390 million

Meanwhile, TTM:

S&M +$364m
R&D +$229m
G&A + $58m
Total Opex +$651m 🚨 pic.twitter.com/FXJbvil7wI

— Marcelo P. Lima (@MarceloPLima) December 1, 2022