OKTA - ForgeRock: Cash Burn Makes This Investment Not Worth It

• ForgeRock manages and secures the identities of consumers, workers, partners, and others through a digital identity platform.
• ForgeRock seems to have a robust customer portfolio and solid ratings, however it’s doesn’t have that special unique feature that differentiates it from the competitors.
• The company has a large cash burn and I don’t really detect a significant, unique competitive advantage.
• Due to its current valuation, I am not buying this stock right now. I’d either wait for the stock to decrease in price, or for the EBITDA margin to get closer to 0, which I expect will take a while.

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