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MariaDB 2Q23 results ?3

16:57 08-May-23


The MariaDB conference call has concluded with no questions.  Management's prepared remarks did a good job of illustrating the quality and timeliness of the product, with a Taylor Swift Ticketmaster failure reference, citing use at 3 Telcos, and over 1b community downloads.  That said, cash down is to $9.7M from $27.9M last quarter.  Bank financing and an equity raise are being considered, and it's tough to be very positive on the stock in advance of terms, even though MRDB looks stable after hours.

On 5/8/23 16:21, Esekla wrote:
MariaDB has reported results for its fiscal second quarter:
  • a loss of 18 cents per share
  • from $13.5M of revenue
Cloud-related subscriptions more than doubled YoY.  However, the 5.5% sequential revenue ramp is going to underwhelm most investors, awards or no, and there are still no analysts covering the company.  That said, the rebate rate on MRDB is back over 50%, after dipping to half that earlier in the year.

It's a tough time to be GRoDT, but MariaDB is at least positioned well for businesses seeking to minimize costs.  Management is holding a conference call at 4:30 this time; so that's progress.  I will write again if I hear anything interesting.