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Cloud’s growth cycle isn’t behind us yet

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.
Today, something a little different. Last week both Okta (2017 IPO) and Ping Identity (2019 IPO) reported earnings. Given that Okta and Ping are SaaS companies that sport competing product lines, the paired financial reports caught our attention. TechCrunch spoke with each after earnings. The picture that we got back from both companies was one of continued growth and increasing profitability.
This matters, as some cloud investors have thoughts about an eventual cloud slowdown. The most common argument that TechCrunch has heard is that as cloud and SaaS continue to eat at the current portion of enterprise software spend that they don’t already control, the pace at which they add market share will slow.
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