MariaDB (MRDB) investor relations material

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.