MariaDB (MRDB) Financial Report Summaries

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New words: Buy, compulsorily, compulsory, expert, factor, factoring, frame, fulfilled, inclusive, NM, reborrowed, relocated, timetable, withdrawn

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From filing 10-Q 2024 Q3

Financial report summary

Competition

MongoDB • Couchbase

Management Discussion

Subscription revenue increased by $0.9 million, or 7.5%, and $2.0 million, or 5.9%, from the three and nine months ended June 30, 2023 to the three and nine months ended June 30, 2024, respectively. The increase in subscription revenues for the three and nine months ended June 30, 2024 was primarily caused by volume-driven increases from new business, which includes new customers and additional subscriptions from existing customers. Our customer base grew from 656 customers as of June 30, 2023 to 688 customers as of June 30, 2024.
Services revenue decreased by $0.3 million, or 22.6%, and $0.6 million, or 13.3%, from the three and nine months ended June 30, 2023 to the three and nine months ended June 30, 2024, respectively, primarily due to a decline in delivery of enterprise architect services and remote database administration services.
Cost of subscription revenue decreased by $0.5 million, or 29.1%, and $0.5 million, or 9.9%, from the three and nine months ended June 30, 2023 to the three and nine months ended June 30, 2024, respectively. The decrease in cost of subscription revenues for the three and nine months ended June 30, 2024 was primarily caused by a decrease in costs related to third-party tools, a decrease in third-party hosting infrastructure costs, and a decrease in personnel-related costs as a result of headcount reduction related to restructuring activities during Q1 and Q2 2024 (discussed below).