After job cuts, MariaDB faces uncertain financial future

27-09-2023 11:08 AM

In addition to laying off 26 staffers out of its 340-strong workforce in February, the company warns that revenue won’t be enough to support operations for the next 12 months, and is looking for financing.

MariaDB, the provider of the relational database management system (RDBMS) of the same name — a fork of the open source based MySQL — is looking for financing to make up for an upcoming shortfall in revenue, after laying off 26 staff from its 340-strong workforce in February, according to various filings the company has made.”We anticipate that our cash, cash equivalents, and cash provided by sales of database subscriptions and services will not be sufficient to meet our projected working capital and operating needs,” MariaDB said in a prospectus filed with the US Securities and Exchange Commission (SEC).The company also said that it had laid off 26 people in the first quarter “to achieve cost reduction goals and to focus the Company on key initiatives and priorities.” The comments in the filing were first reported by The Register.
MariaDB made similar comments about seeking further financing in February when it reported a $13 million net loss for the quarter ending December 31, up about 7% from a year earlier.MariaDB, according to statements in the filings, has had a history of losses and doesn’t foresee itself to be profitable in the short term. It has, however, up to now been able to cover its expenses through financing — in addition to going public at the end of last year.