MariaDB plc announced its financial results for the first quarter of fiscal year 2023, which ended December 31, 2022.
“We continue to make progress at transforming our business to the cloud, demonstrated by 90% growth in cloud-related subscription revenue,” said Michael Howard, CEO at MariaDB plc. “This positions us well, as we bring substantial new capabilities to the next release of MariaDB SkySQL, a second generation cloud database, delivering unstoppable performance and scale for our customers. The immense value we deliver to our customers is further highlighted by a multi-year contract of up to $34 million closed our first quarter, the largest deal in the company’s history.”
First Quarter Fiscal 2023 Financial Highlights
- Revenue: Total revenue was $12.8 million for the first quarter of fiscal 2023, an increase of 20% year-over-year, which was consistent with our revenue growth rate over the last few years. Cloud-related subscription revenue grew 90% year-over-year, continuing the transformation of our on-premises business to the cloud.
- Annual recurring revenue (ARR): Total ARR as of December 31, 2022 was $52.0 million, an increase of 17% year-over-year, which was consistent with our ARR growth rate over the last few years.
- Gross profit: Gross profit was $9.4 million for the first quarter of fiscal 2023, representing a 73.7% gross margin compared to 72.8% in the year-ago period.
- Loss from operations:Loss from operations was $12.8 million for the first quarter of fiscal 2023, compared to a loss of $11.3 million in the year-ago period.
- Net loss: Net loss was $13.0 million, or $0.55 per share, for the first quarter of fiscal 2023. This compares to a net loss of $12.2 million in the year-ago period.
First Quarter Fiscal 2023 Business Highlights
- MariaDB completed its merger with Angel Pond Holdings Corporation and listed on the New York Stock Exchange under the ticker “MRDB.”
- Signed the largest multi-year deal in the company’s history for up to $34 million with a leading financial services customer.
- Accelerated growth in our cloud business, including customer announcements with Certified Power Solutions, Hit Labs and SUPERCAT.
- Showcased the upcoming new release of our SkySQL cloud database service at AWS re:Invent.
- Appointed Hal Berenson, former VP and general manager of Amazon RDS, to MariaDB’s board of directors.
