MariaDB
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MariaDB (MRDB) investor relations material

MariaDB has been acquired

MariaDB Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary14 Aug, 2024

Executive summary

  • Revenue for the quarter ended June 30, 2024 was $13.6 million, up 4.0% year-over-year, driven by a 7.5% increase in subscription revenue, partially offset by a 22.6% decline in services revenue.

  • Net loss for the quarter was $9.5 million, compared to $9.7 million in the prior year period; net loss for the nine months ended June 30, 2024 was $21.8 million, an improvement from $34.2 million in the prior year.

  • The company completed divestitures of its SkySQL and geospatial businesses, recording a $0.8 million gain.

  • MariaDB is in the process of being acquired by Meridian BidCo LLC, with a compulsory acquisition of remaining shares expected by August 26, 2024.

Financial highlights

  • Gross margin improved to 81.2% for the quarter, up from 71.7% in the prior year, due to higher subscription revenue and cost reductions.

  • Operating expenses decreased 13.1% year-over-year for the quarter, reflecting restructuring and cost-saving measures.

  • Adjusted EBITDA for the quarter was $(0.5) million, a significant improvement from $(11.4) million in the prior year.

  • Cash and cash equivalents were $1.1 million as of June 30, 2024, with an accumulated deficit of $271.2 million.

  • Deferred revenue totaled $43.9 million, with $62.9 million in remaining performance obligations.

Outlook and guidance

  • Management expects continued focus on core enterprise database products and international expansion.

  • The company is seeking additional financing to fund operations, as current cash is insufficient for the next 12 months.

  • Completion of the acquisition by BidCo is expected to result in delisting from the NYSE and a change in ownership structure.

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    Frequently asked questions

    MariaDB plc is a software company that provides open-source database solutions, primarily through its flagship product, MariaDB. The company's database platform is designed to support various applications, offering flexibility, scalability, and performance for transactional, analytical, and hybrid workloads. MariaDB is used across multiple industries, including financial services, telecommunications, government, and technology sectors, to manage data infrastructure and storage needs. The company's solutions are compatible with cloud, on-premises, and hybrid environments, catering to the growing demand for flexible and efficient database management systems. The company is headquartered in Redwood City, California, and its shares are listed on the NYSE.