MariaDB plc announced its financial results for the third quarter of fiscal year 2023, which ended June 30, 2023.
“We drove strong 22% year-over-year revenue growth in the third quarter, which is consistent with our revenue growth rate over the last few years,” said Paul O’Brien, CEO at MariaDB plc. “While we are growing at a steady pace, we have also demonstrated restraint on spending thanks to a company wide effort. Looking ahead, we are excited to leverage five years of foundational Artificial Intelligence and Machine Learning (AI/ML) experience to build new AI/ML database features that will allow customers to predict, classify and even communicate with the database in bespoke ways tailored to specific business needs.”
Third Quarter Fiscal 2023 Financial Highlights
- Revenue: Total revenue was $13.0 million for the third quarter of fiscal 2023, an increase of 22% year-over-year.
- Annual recurring revenue (ARR): Total ARR as of June 30, 2023 was $55.0 million, an increase of 14% year-over-year.
- Gross profit: Gross profit was $9.4 million for the third quarter of fiscal 2023, representing a 72% gross margin compared to 65% in the year-ago period.
- Loss from operations: Loss from operations was $12.2 million for the third quarter of fiscal 2023, compared to a loss of $13.1 million in the year-ago period.
- Net loss: Net loss was $9.7 million, or $0.14 per share, for the third quarter of fiscal 2023. This compared to a net loss of $9.6 million, or $0.69 per share, in the year-ago period.
Business Highlights
- Paul O’Brien was appointed CEO of MariaDB effective May 26, after joining the company in March as Senior Vice President of Sales and Field Operations. For 30+ years, O’Brien has leveraged his substantial experience in sales and customer success, as well as his track record of leading successful turnarounds and implementing world-class go-to-market strategies.
- The MariaDB board appointed Tom Siegel as chief revenue officer (CRO) to lead the sales, consulting, support and training teams and Jonah Harris as chief technology officer (CTO) to lead product strategy, effective June 5, 2023.
- The company held its global user conference MariaDB OpenWorks in New York City on May 11-12, 2023 where the company celebrated customers who are unstoppable with MariaDB. The event was the backdrop of the first MariaDB Wavemaker Awards, which included winners:
- Enterprise of the Year: Copart
- Partner of the Year: SADA Systems
- Cloud Champion of the Year: WBX Commerce (formerly known as Whitebox)
- Database Transformation of the Year: Samsung SDS
- SaaS Application of the Year: Vergent LMS
Conference Call Information
MariaDB plc will host a live webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on Monday, August 14, 2023 to discuss its financial results. The live webcast and replay of the webcast can be accessed from MariaDB plc's investor relations website at investors.mariadb.com. The webcast replay will be available for 12 months.
