Materialise NV (MTLS)

Materialise Reports First Quarter 2026 ResultsMay 7, 2026 1:00 AM
Business Wire Materialise transfers eyewear business to its management team Regulated information1 Materialise NV (Euronext & NASDAQ:MTLS), a global leader in 3D-printed medical devices and software, and a pioneer in additive manufacturing software and services, today announced its financial results for the first quarter ended March 31, 2026. Additionally, Materialise announced the transfer of its eyewear business to the eyewear management team. Highlights – First Quarter 2026 Total revenue was stable at 66,276 kEUR for the first quarter of 2026 compared to 66,379 kEUR for the corresponding 2025 period. Gross profit as a percentage of revenue for the first quarter of 2026 increased to 57.2%, compared to 55.3% for the corresponding 2025 period. Adjusted EBIT increased to 2,470 kEUR for the first quarter of 2026 from 646 kEUR for the first quarter of 2025. Net result for the first quarter of 2026 was 1,820 kEUR, or 0.03 EUR per diluted share, compared to a net loss of (535) kEUR, or (0.01) EUR per diluted share, for the corresponding 2025 period. Driven by recurring positive free cash flow, our net cash position increased by 2,021 kEUR over the quarter to 72,826 kEUR, while 2,308 kEUR was invested in share buybacks, underscoring strong cash generation. CEO Brigitte de Vet-Veithen commented, “In a quarter where elevated geopolitical uncertainty and unfavorable foreign currency exchange movements weighed on our revenue growth, we improved operational profitability across all business segments through operational focus and continued cost control. We closed the quarter with positive operating and free cash flow and a further improved net cash position, reinforcing the strength of our balance sheet and providing us with the flexibility to continue investing in innovation and growth. Following the sale of our Rapidfit business at the end of March of this year, we have now also reached an agreement to transfer our eyewear activities to the business’s management team. We believe these decisive portfolio actions will allow Materialise to further concentrate capital and resources on its core focus areas, while enabling both Rapidfit and Eyewear to operate in a setup that will best support their next phase of growth.” _________________ 1 The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. First Quarter 2026 Results Total revenue for the first quarter of 2026 was stable at 66,276 kEUR from 66,379 kEUR for the first quarter of 2025. Adjusted EBIT for the first quarter of 2026 increased to 2,470 kEUR compared to 646 kEUR for the 2025 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the first quarter of 2026 was 3.7%, compared to 1.0% for the first quarter of 2025. Adjusted EBITDA for the first quarter of 2026 increased to 8,049 kEUR compared to 6,147 kEUR for the 2025 period. Revenue from our Materialise Medical segment increased 6.7% to 33,165 kEUR for the first quarter of 2026 compared to 31,078 kEUR for the same period in 2025. Segment Adjusted EBITDA increased 2.1% to 9,235 kEUR for the first quarter of 2026 compared to 9,047 kEUR, while the segment Adjusted EBITDA margin was 27.8% compared to 29.1% for the first quarter of 2025. Revenue from our Materialise Software segment decreased 1.4% to 9,641 kEUR for the first quarter of 2026 from 9,775 kEUR for the same quarter last year. Segment Adjusted EBITDA increased 87.4% to 1,123 kEUR from 599 kEUR, while the segment Adjusted EBITDA margin increased to 11.6%, compared to 6.1% for the prior-year period. Revenue from our Materialise Manufacturing segment decreased 8.1% to 23,470 kEUR for the first quarter of 2026 from 25,526 kEUR for the first quarter of 2025. Segment Adjusted EBITDA increased to 281 kEUR compared to (377) kEUR, while the segment Adjusted EBITDA margin increased to 1.2% compared to (1.5)% for the first quarter of 2025. Gross profit increased 3.2% to 37,894 kEUR compared to 36,724 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 57.2% compared to 55.3% for the first quarter of 2025. Research and development (“R&D”), sales and marketing (“S&M”), and general and administrative (“G&A”) expenses remained stable, in the aggregate, at 36,713 kEUR for the first quarter of 2026 from 36,510 kEUR for the first quarter of 2025. Net other operating income was 909 kEUR compared to 360 kEUR for the first quarter of 2025. Operating result increased to 2,090 kEUR compared to 574 kEUR for the first quarter of 2025, while net financial result was 392 kEUR, compared to (875) kEUR for the first quarter of 2025. The first quarter of 2026 contained net tax expenses of (662) kEUR, compared to net tax expenses of (234) kEUR in the first quarter of 2025. As a result of the above, net profit for the first quarter of 2026 increased to 1,820 kEUR, compared to a net loss of (535) kEUR for the same period in 2025. Total comprehensive income for the first quarter of 2026, which includes exchange differences on translation of foreign operations, was 2,374 kEUR compared to (30) kEUR for the 2025 period. At March 31, 2026, we had cash and cash equivalents of 132,952 kEUR compared to 133,918 kEUR at December 31, 2025. Gross debt amounted to 60,126 kEUR, compared to 63,113 kEUR at December 31, 2025. As a result, our net cash position increased by 2,021 kEUR to 72,826 kEUR. At the end of the first quarter of 2026 Materialise had bought back 511,513 own shares for a total amount (excluding transaction cost) of 2,308 kEUR (2,722 kUSD) under the previously announced share buy-back program. Cash flow from operating activities for the first quarter of 2026 was 6,914 kEUR. Total cash out from capital expenditures for the first quarter of 2026 amounted to 1,470 kEUR resulting in a positive free cash flow. Net shareholders’ equity at March 31, 2026 was 255,595 kEUR compared to 255,482 kEUR at December 31, 2025. On April 23, 2026, Materialise released its 2025 Annual Report, including its CSRD report, outlining the integration of sustainability into its corporate strategy. With this integrated report we aim at providing transparency on our corporate matters, our financial performance in 2025 and on the initiatives we are taking to make a sustainable difference with additive manufacturing for a better and healthier world. The report is available on our corporate website or can be accessed directly through https://investors.materialise.com/financials/reports. Materialise to transfer eyewear business to its management team Today, Materialise announces it has reached an agreement to transfer its eyewear business to the business’s management team. We believe the transaction aligns with Materialise’s strategy to sharpen its portfolio and to further concentrate capital and resources on its core focus areas, while enabling both Rapidfit and Eyewear to operate in a setup that will best support their next phase of growth. Materialise will retain a minority stake in the newly formed eyewear company, reflecting its continued confidence in the business. All employees currently supporting the eyewear business will transition to the new company formed in connection with the transfer. The financial terms of the transaction were not publicly disclosed, and we expect to recognize impairment charges in the second quarter of 2026 related to the transaction. 2026 Guidance Mrs. de Vet-Veithen concluded, “As previously communicated in our guidance issued in February, we expect macro-economic and geopolitical uncertainty to persist throughout fiscal year 2026. Nevertheless, we continue to have confidence in the strength and resilience of our underlying business fundamentals. The strategic repositioning initiatives and targeted investments across our three business segments are expected to progressively support operational performance and profitable growth. Notwithstanding the anticipated impact of the divestments of Rapidfit and Eyewear, we reaffirm our full-year revenue guidance for fiscal year 2026 in the range of 273,000 to 283,000 kEUR. In addition, we are maintaining our Adjusted EBIT guidance for fiscal year 2026 of 10,000 to 12,000 kEUR, reflecting our continued focus on execution discipline, cost management, and capital allocation.” Non-IFRS Measures Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance, including for purposes of monitoring compliance with financial covenants, supporting discussions with financing institutions, and meeting reporting requirements to our banks. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition expenses related to business combinations or divestiture-related expenses, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA and segment Adjusted EBITDA margin to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items. Exchange Rate This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1498, the reference rate of the European Central Bank on March 31, 2026. Conference Call and Webcast Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the first quarter of 2026 on Thursday, May 7, 2026, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call. https://register-conf.media-server.com/register/BI7e584baacee14013bd0ffd0406fb9ccd The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. The webcast of the conference call will be archived on the company's website for one year. About Materialise Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com. Cautionary Statement on Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, divestitures, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release. The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information. Consolidated income statements (Unaudited) for the three months ended
March 31, In '000 2026 2026 2025 U.S.$ € € Revenue 76,204 66,276 66,379 Cost of Sales (32,634) (28,383) (29,654) Gross Profit 43,570 37,894 36,724 Gross profit as % of revenue 57.2% 57.2% 55.3%   Research and development expenses (13,671) (11,890) (11,414) Sales and marketing expenses (17,748) (15,435) (15,071) General and administrative expenses (10,793) (9,387) (10,025) Net other operating income (expenses) 1,045 909 360 Operating (loss) profit 2,403 2,090 574   Financial expenses (804) (700) (2,772) Financial income 1,256 1,092 1,897 (Loss) profit before taxes 2,855 2,483 (301)   Income Taxes (762) (662) (234) Net (loss) profit for the period 2,093 1,820 (535) Net (loss) profit attributable to: The owners of the parent 2,093 1,820 (533) Non-controlling interest - - (2)   Earning per share attributable to owners of the parent   Basic 0.04 0.03 (0.01) Diluted 0.04 0.03 (0.01)   Weighted average basic shares outstanding 58,865 58,865 59,067 Weighted average diluted shares outstanding 58,865 58,865 59,067 Consolidated statements of comprehensive income (Unaudited) for the three months ended
March 31, In 000€ 2026 2026 2025 U.S.$ € € Net profit (loss) for the period 2,093 1,820 (535) Other comprehensive income Recycling Exchange difference on translation of foreign operations 637 554 505 Non-recycling Fair value adjustments through OCI - - - Other comprehensive income (loss), net of taxes 637 554 505 Total comprehensive income (loss) for the year, net of taxes   2,730 2,374 (30) Total comprehensive income (loss) attributable to: The owners of the parent 2,733 2,377 (32) Non-controlling interests (3) (3) 1 Consolidated statement of financial position (Unaudited) As of
March 31, As of
December 31, In 000€ 2026 2025 Assets Non-current assets Goodwill 43,171 43,161 Intangible assets 24,589 25,639 Property, plant & equipment 111,635 112,854 Right-of-Use assets 5,774 5,429 Deferred tax assets 3,834 3,971 Other non-current assets 5,249 5,983 Total non-current assets 194,253 197,038 Current assets Inventories 16,753 14,904 Trade receivables 55,462 54,938 Other current assets 14,924 15,533 Cash and cash equivalents 132,952 133,918 Assets held for sale 4,183 4,314 Total current assets 224,274 223,607 Total assets 418,527 420,646 As of
March 31, As of
December 31, In 000€ 2026 2025 Equity and liabilities Equity Share capital 4,487 4,487 Share premium 203,895 203,895 Treasury Shares (2,308) - Retained earnings and other reserves 49,604 47,180 Equity attributable to the owners of the parent 255,678 255,562 Non-controlling interest (83) (80) Total equity 255,595 255,482 Non-current liabilities Loans & borrowings 47,190 49,726 Lease liabilities 3,299 3,063 Deferred tax liabilities 2,566 2,660 Deferred income 16,845 17,344 Other non-current liabilities 321 486 Total non-current liabilities 70,221 73,280 Current liabilities Loans & borrowings 6,824 7,759 Lease liabilities 2,813 2,565 Trade payables 19,783 20,125 Tax payables 869 748 Deferred income 44,165 43,523 Other current liabilities 18,088 16,362 Liabilities held for sale 168 802 Total current liabilities 92,711 91,884 Total equity and liabilities 418,527 420,646 Consolidated statement of cash flows (Unaudited) for the three months
ended March 31, In 000€ 2026 2025 Operating activities Net (loss) profit for the period 1,820 (535) Non-cash and operational adjustments 5,820 6,994 Depreciation of property plant & equipment 3,999 3,854 Amortization of intangible assets 1,651 1,631 Share-based payment expense 56 72 Loss (gain) on disposal of intangible assets and property, plant & equipment (54) 21 Government grants (112) - Movement in provisions (156) 18 Movement reserve for bad debt and slow moving inventory 196 243 Financial income (1,111) (1,834) Financial expense 722 2,763 Impact of foreign currencies (34) (2) (Deferred) income taxes 663 228 Working capital adjustments (1,693) 3,763 Decrease (increase) in trade receivables and other receivables 50 4,487 Decrease (increase) in inventories and contracts in progress (1,933) 948 Increase (decrease) in deferred revenue 71 1,868 Increase (decrease) in trade payables and other payables 119 (3,539) Income tax paid 326 (1,140) Interest received 640 631 Net cash flow from operating activities 6,914 9,713 for the three months ended
March 31, In 000€ 2026 2025 Investing activities Purchase of property, plant & equipment (969) (1,400) Purchase of intangible assets (501) (432) Proceeds from the sale of property, plant & equipment & intangible assets (net)   70 75 Capital government grants received 229 - Net cash flow used in investing activities (1,171) (1,757) Financing activities Repayment of loans & borrowings (3,459) (4,472) Repayment of leases (751) (815) Interest paid (473) (235) Other financial income (expense) 19 (310) Repurchase of treasury shares (2,317) - Net cash flow from (used in) financing activities (6,982) (5,832) Net increase/(decrease) of cash & cash equivalents (1,238) 2,123 Cash & Cash equivalents at the beginning of the year 133,918 102,304 Exchange rate differences on cash & cash equivalents 329 (247) Cash & cash equivalents at end of the period 133,009 104,180 Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited) for the three months ended
March 31, In 000€ 2026 2025 Net profit (loss) for the period 1,820 (535) Income taxes 662 234 Financial expenses 700 2,772 Financial income (1,092) (1,897) Depreciation and amortization 5,578 5,501 EBITDA 7,669 6,075 Share-based compensation expense (1) 56 72 Restructuring and corporate initiatives (2) 257 - Impairments (3) 67 - Adjusted EBITDA 8,049 6,147 (1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees. (2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations (3) Impairments represent the impairment of tangible and intangible assets of RapidFit NV resulting from the asset transfer to its management. Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT (Unaudited) for the three months ended
March 31, In 000€ 2026 2025 Net profit (loss) for the period 1,820 (535) Income taxes 662 234 Financial expenses 700 2,772 Financial income (1,092) (1,897) EBIT 2,090 574 Share-based compensation expense (1) 56 72 Restructuring and corporate initiatives (2) 257 - Impairments (3) 67 - Adjusted EBIT 2,470 646 (1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees. (2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations (3) Impairments represent the impairment of tangible and intangible assets of RapidFit NV resulting from the asset transfer to its management. Segment P&L (Unaudited) In 000€ Materialise
Medical Materialise
Software Materialise
Manufacturing Total
segments Unallocated (1) Consolidated For the three months ended March 31, 2026 Revenues 33,165 9,641 23,470 66,276 0 66,276 Segment (adj) EBITDA 9,235 1,123 281 10,638 (2,589) 8,049 Segment (adj) EBITDA % 27.8% 11.6% 1.2% 16.1% 12.1% For the three months ended March 31, 2025 Revenues 31,078 9,775 25,526 66,379 0 66,379 Segment (adj) EBITDA 9,047 599 (377) 9,269 (3,122) 6,147 Segment (adj) EBITDA % 29.1% 6.1% -1.5% 14.0% 9.3% (1) Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition expenses related to business combinations or divestiture-related expenses, impairments and revaluation of fair value of business combinations and non-recurring costs related to corporate initiatives, restructurings and reorganizations that are included in Adjusted EBITDA and that are not allocated to the reporting segments . Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited) for the three months ended
March 31, In 000€ 2026 2025 Net profit (loss) for the period 1,820 (535) Income taxes 662 234 Financial expenses 700 2,772 Financial income (1,092) (1,897) Operating (loss) profit 2,090 574 Depreciation and amortization 5,578 5,501 Corporate research and development 878 1,030 Corporate headquarter costs 2,998 2,852 Other operating income (expense) (974) (688) Impairments (1) 67 - Segment adjusted EBITDA 10,638 9,269 (1) Impairments represent the impairment of tangible and intangible assets of RapidFit NV resulting from the asset transfer to its management.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260506559136/en/ Investor Relations Contact Harriet Fried
Alliance Advisors Investor Relations
212.838.3777
hfried@allianceadvisors.com Original: Materialise Reports First Quarter 2026 Results

Materialise NV to Report First Quarter 2026 Earnings on Thursday, May 7, 2026April 23, 2026 1:00 AM
Business Wire
Materialise NV (Euronext & NASDAQ: MTLS), a global leader in 3D-printed medical devices and software, and a pioneer in additive manufacturing software and services, today announced that it will release financial results for the first quarter ended March 31, 2026 on Thursday, May 7, 2026 at 1:00 a.m. ET/7:00 a.m. CET.


Senior management will hold a conference call to discuss the first quarter 2026 financial results on Thursday, May 7, 2026 at 8:30 a.m. ET/2:30 p.m. CET. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call: First Quarter 2026 Conference Call.


A live audio webcast will be accessible through http://investors.materialise.com. The webcast of the conference call will be archived on the company's website.


About Materialise


Materialise incorporates over 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest and most complete 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422259597/en/
Investor Relations Contact


Harriet Fried

Alliance Advisors Investor Relations

212.838.3777

hfried@allianceadvisors.com


Original: Materialise NV to Report First Quarter 2026 Earnings on Thursday, May 7, 2026

Materialise Reports Fourth Quarter and Full Year 2025 ResultsFebruary 19, 2026 1:00 AM
Business Wire
Regulated information1


Materialise NV (Euronext & NASDAQ:MTLS), a global leader in 3D-printed medical devices and software, and a pioneer in additive manufacturing software and services, today announced its financial results for the fourth quarter and full year ended December 31, 2025.


Highlights – Fourth Quarter 2025



Total revenue increased by 6.8% to 70,164 kEUR for the fourth quarter of 2025 from 65,680 kEUR for the corresponding 2024 period, boosted by 16.3% growth in our Materialise Medical segment.



Gross profit as a percentage of revenue for the fourth quarter of 2025 increased to 58.1%, compared to 55.4% for the corresponding 2024 period.



Adjusted EBIT amounted to 3,980 kEUR for the fourth quarter of 2025, representing 5.7% of consolidated revenue, compared to (1,195) kEUR for the corresponding period.



Net result for the fourth quarter of 2025 was 6,206 kEUR, or 0.11 EUR per diluted share, compared to a net result of 2,907 kEUR, or 0.05 EUR per diluted share, for the corresponding 2024 period.



Highlights – Full Year 2025



Total revenue remained stable at 267,633 kEUR for 2025 compared to 266,765 kEUR for 2024, fueled by strong 15.4% growth in our Materialise Medical segment which was offset by lower revenues in our Materialise Manufacturing segment and unfavourable foreign exchange effects.



Gross profit as a percentage of revenue for 2025 increased to 57.1%, compared to 56.5% for 2024.



Adjusted EBITDA increased to 32,386 kEUR for 2025 compared to 31,484 kEUR for 2024. Adjusted EBIT increased to 10,601 kEUR for 2025 from 9,741 kEUR for 2024.



Net profit for 2025 was 7,716 kEUR, or 0.13 EUR per diluted share, compared to a net profit of 13,406 kEUR, or 0.23 EUR per diluted share, for 2024.



Total cash reserves amounted to 133,918 kEUR at the end of 2025.



CEO Brigitte de Vet-Veithen commented, “In the final quarter of 2025, we reached a major milestone with our successful Euronext listing and the announcement of a strategic share buyback program. These steps clearly demonstrate our commitment to delivering long-term shareholder value. We achieved nearly 7% revenue growth and delivered a substantial improvement in operational profitability compared to the fourth quarter of 2024. Our Materialise Medical segment continues to lead the way, achieving another quarterly revenue record and sustaining its double-digit growth path. Our Materialise Software segment maintained steady upward momentum, continuing to build on successive quarterly revenue increases throughout 2025. While our Materialise Manufacturing segment continued to be impacted by soft prototyping demand, its strategic transition towards series manufacturing led to key commercial wins in targeted aerospace and defense markets that we expect will contribute to our results in coming periods. Throughout the last quarter of 2025 we further executed focused cost control measures without compromising R&D investments. With 134 million EUR of cash and cash equivalents on our balance sheet, an improved net cash position and consistently positive operating cash flow, we believe we are financially strong and well-positioned to further drive innovation and capture emerging market opportunities.”



_________________



1 The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.







Fourth Quarter 2025 Results


Total revenue for the fourth quarter of 2025 increased 6.8% to 70,164 kEUR from 65,680 kEUR for the fourth quarter of 2024. Adjusted EBITDA increased to 9,524 kEUR for the fourth quarter of 2025 from 4,306 kEUR for the 2024 period. Adjusted EBIT amounted to 3,980 kEUR, compared to (1,195) kEUR for the same period in 2024.


Revenue from our Materialise Medical segment increased 16.3% to 37,016 kEUR for the fourth quarter of 2025, compared to 31,837 kEUR for the same period in 2024. Adjusted EBITDA for the segment was 13,024 kEUR compared to 9,547 kEUR, while the Adjusted EBITDA margin for the segment was 35.2%, compared to 30.0% for the prior-year period.


Revenue from our Materialise Software segment decreased 1.3% to 10,974 kEUR from 11,124 kEUR for the same quarter last year. Adjusted EBITDA for the segment amounted to 1,701 kEUR compared to 1,123 kEUR, while the Adjusted EBITDA margin for the segment was 15.5%, compared to 10.1% for the prior-year period.


Revenue from our Materialise Manufacturing segment decreased 2.4% to 22,174 kEUR from 22,719 kEUR for the fourth quarter of 2024. Adjusted EBITDA for the segment increased to (2,199) kEUR compared to (2,989) kEUR, while the Adjusted EBITDA margin for the segment was (9.9)% compared to (13.2)% for the prior-year period.


Consolidated gross profit increased 12.2% to 40,791 kEUR for the fourth quarter of 2025 from 36,365 kEUR for the same period last year. Gross profit as a percentage of revenue improved to 58.1%, compared to 55.4%.


Research and development (“R&D”), sales and marketing (“S&M”), and general and administrative (“G&A”) expenses remained in aggregate stable at 38,938 kEUR for the fourth quarter of 2025 compared to 38,990 kEUR for the prior year period, while the fourth quarter of 2025 included non-recurring costs related to the Euronext listing of 750 kEUR.


Net other operating income decreased to 1,258 kEUR compared to 1,357 kEUR for the fourth quarter of 2024.


The operating result was 3,111 kEUR, compared to (1,268) kEUR for the fourth quarter of 2024.


Net financial result for the fourth quarter of 2025 was 2,400 kEUR, compared to 3,301 kEUR for the corresponding period of 2024.


The fourth quarter of 2025 contained net tax income of 695 kEUR, compared to 874 kEUR for the fourth quarter of 2024.


As a result of the above, net profit for the fourth quarter of 2025 was 6,206 kEUR, compared to 2,907 kEUR for the same period in 2024.


At December 31, 2025, we reported 133,918 kEUR cash and cash equivalents on our balance sheet compared to 102,304 kEUR at December 31, 2024. Gross debt amounted to 63,113 kEUR compared to 41,284 kEUR at December 31, 2024. As a result, our net cash position (cash and cash equivalents less gross debt) was 70,805 kEUR, an increase of 9,785 KEUR compared to December 31, 2024.


Cash flow from operating activities for the fourth quarter of the year 2025 was 5,274 kEUR, compared to 6,218 kEUR for the same period in 2024. Total capital expenditures for the fourth quarter of the year 2025 amounted to 4,411 kEUR. The generated free cash flow over the fourth quarter of 2025 amounted to 4,511 kEUR.


Net shareholders’ equity at December 31, 2025 was 255,482 kEUR compared to 248,492 kEUR at December 31, 2024, representing an increase of 2.8%.


Full Year 2025 Results


Total revenues for the year ended December 31, 2025 remained stable at 267,633 kEUR compared to 266,765 kEUR for the year ended December 31, 2024. Adjusted EBITDA for 2025 improved to 32,386 kEUR compared to 31,484 kEUR for 2024. The Adjusted EBITDA margin improved to 12.1% in 2025, compared to 11.8% in 2024. Adjusted EBIT for 2025 increased to 10,601 kEUR compared to 9,741 kEUR for 2024. The Adjusted EBIT margin for 2025 increased to 4.0%, compared to 3.7% for 2024.


Revenues from our Materialise Medical segment grew by 15.4% for the year ended December 31, 2025 to 134,239 kEUR from 116,358 kEUR for the year ended December 31, 2024. The segment’s Adjusted EBITDA increased to 42,983 kEUR from 35,562 kEUR. The segment’s Adjusted EBITDA margin improved to 32.0% in 2025, compared to 30.6% in 2024.


Revenues from our Materialise Software segment decreased 6.8% to 40,907 kEUR for the year ended December 31, 2025 compared to 43,899 kEUR for the year ended December 31, 2024. The segment’s Adjusted EBITDA decreased to 5,469 kEUR from 5,562 kEUR in 2024. The segment’s Adjusted EBITDA margin improved to 13.4% in 2025, compared to 12.7% in 2024.


Revenues from our Materialise Manufacturing segment decreased 13.2% to 92,486 kEUR for the year ended December 31, 2025 from 106,508 kEUR for the year ended December 31, 2024. The segment’s Adjusted EBITDA amounted to (4,236) kEUR compared to 1,660 kEUR. The segment’s Adjusted EBITDA margin was (4.6)% in 2025, compared to 1.6% in 2024.


Consolidated gross profit increased 1.4% to 152,949 kEUR from 150,826 kEUR last year. Gross profit as a percentage of revenue increased to 57.1%, compared to 56.5% in 2024.


Research and development (“R&D”) expenses increased by 3.8% to 46,089 kEUR mainly reflecting higher investments in our Materialise Medical segment. Other operational expenses, including sales and marketing (“S&M”) and general and administrative (“G&A”) expenses, increased in aggregate over the full year 2025 by only 0.5% compared to 2024 to 101,714 kEUR.


Net other operating income was 3,789 kEUR compared to 4,223 kEUR for 2024.


Operating result amounted to 8,936 kEUR for the year ended December 31, 2025 compared to 9,432 kEUR in the prior year.


Net financial result amounted to (1,648) kEUR, compared to net financial result of 4,707 kEUR for the year ended December 31, 2024 reflecting the significantly higher impact of unfavorable exchange rate fluctuations in 2025.


Income taxes amounted to 429 kEUR compared to (733) kEUR for the year ended December 31, 2024.


As a result, net profit was 7,716 kEUR for 2025 compared to a net profit of 13,406 kEUR in 2024.


Cash flow from operating activities for the year ended December 31, 2025 was 25,319 kEUR compared to 31,456 kEUR for the year ended December 31, 2024. Total capital expenditures for the year ended December 31, 2025 amounted to 16,261 kEUR. The generated free cash flow over 2025 amounted to 15,615 kEUR.


2026 Guidance


Mrs. de Vet-Veithen concluded, “Also for fiscal year 2026, we expect our three reporting segments to evolve at a different pace. We anticipate continued strong revenue growth from our Materialise Medical segment. Our Materialise Software segment will complete the transition towards a cloud-based subscription business model, and will continue its investments in a broader AM software ecosystem covering end-to-end workflows. Our Materialise Manufacturing segment will intensify its ongoing shift towards series manufacturing and dedicated focus sectors, but we expect macroeconomic headwinds in the industrial market segments to persist throughout 2026.


On a consolidated level, we therefore expect our full year revenues for 2026 to grow to a range of 273,000 to 283,000 kEUR. We will continue investing in our Materialise Medical and Software segments while maintaining disciplined cost control and optimization, in particular in our Materialise Manufacturing segment and in our overhead. As a result, we expect our Adjusted EBIT to reach 10,000 to 12,000 kEUR for fiscal year 2026.”


Non-IFRS Measures


Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition or divestiture-related expenses of business combinations, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.


Exchange Rate


This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1750, the reference rate of the European Central Bank on December 31, 2025.


Conference Call and Webcast


Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter of 2025 on Thursday, February 19, 2026, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer; and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call.



Fourth Quarter 2025 Conference Call.



The conference call will also be broadcast live over the internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.


About Materialise


Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com.


Cautionary Statement on Forward-Looking Statements


This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.


The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.


Consolidated income statements (Unaudited)





for the three months ended




December 31,






 






for the twelve months




ended December 31,







In '000

2025






 






2025






 






2024






 






2025






 






2024









U.S.$






 






€






 






€






 






€






 






€







Revenue

82,442







70,164







65,680







267,633







266,765







Cost of Sales

(34,513)







(29,373)







(29,315)







(114,684)







(115,940)







Gross Profit

47,929







40,791







36,365







152,949







150,826







Gross profit as % of revenue

58.1%







58.1%







55.4%







57.1%







56.5%
















 


Research and development expenses

(14,235)







(12,115)







(12,099)







(46,089)







(44,400)







Sales and marketing expenses

(19,042)







(16,206)







(16,490)







(61,591)







(61,620)







General and administrative expenses

(12,474)







(10,617)







(10,402)







(40,122)







(39,597)







Net other operating income (expenses)

1,478







1,258







1,357







3,789







4,223







Operating (loss) profit

3,656







3,111







(1,268)







8,936







9,432
















 


Financial expenses

2,088







1,777







1,113







(5,616)







(2,969)







Financial income

732







623







2,188







3,968







7,677







(Loss) profit before taxes

6,476







5,510







2,033







7,287







14,139
















 


Income Taxes

817







695







874







429







(733)







Net (loss) profit for the period

7,293







6,206







2,907







7,716







13,406







Net (loss) profit attributable to:











The owners of the parent

7,292







6,206







2,917







7,718







13,436







Non-controlling interest

-







-







(10)







(2)







(30)
















 


Earning per share attributable to owners of the parent











Basic

0.12







0.11







0.05







0.13







0.23







Diluted

0.12







0.11







0.05







0.13







0.23
















 


Weighted average basic shares outstanding

59,067







59,067







59,067







59,067







59,067







Weighted average diluted shares outstanding

59,077







59,077







59,148







59,072







59,105







Consolidated statements of comprehensive income (Unaudited)





for the three months ended




December 31,






 






for the twelve months




ended December 31,







In 000€

2025






 






2025






 






2024






 






2025






 






2024









U.S.$






 






€






 






€






 






€






 






€







Net profit (loss) for the period

7,293







6,206







2,907







7,716







13,406







Other comprehensive income











Recycling











Exchange difference on translation of foreign operations

(2,848)







(2,424)







(1,478)







(1,257)







(1,795)







Non-recycling











Fair value adjustments through OCI - Equity instruments

304







258







3







258







3







Other comprehensive income (loss), net of taxes

(2,544)







(2,165)







(1,475)







(999)







(1,792)







Total comprehensive income (loss) for the year, net of taxes

4,748







4,041







1,432







6,718







11,615







Total comprehensive income (loss) attributable to:











The owners of the parent

4,749







4,042







1,445







6,712







11,647







Non-controlling interests

(2)







(1)







(13)







5







(34)







Consolidated statement of financial position (Unaudited)






As of

December 31,






 






As of

December 31,







In 000€


2025






 






2024







Assets






Non-current assets






Goodwill


43,161







43,391







Intangible assets


25,639







29,973







Property, plant & equipment


112,854







111,331







Right-of-Use assets


5,429







7,719







Deferred tax assets


3,971







3,523







Investments in convertible loans


-







3,994







Other non-current assets


5,983







5,893







Total non-current assets


197,038







205,823







Current assets






Inventories


14,904







16,992







Trade receivables


54,938







53,052







Other current assets


15,533







18,166







Cash and cash equivalents


133,918







102,304







Assets held for sale


4,314







-







Total current assets


223,607







190,513







Total assets


420,646







396,336











As of

December 31,






 






As of

December 31,







In 000€


2025






 






2024







Equity and liabilities






Equity






Share capital


4,487







4,487







Share premium


203,895







233,895







Retained earnings and other reserves


47,180







10,196







Equity attributable to the owners of the parent


255,562







248,578







Non-controlling interest


(80)







(86)







Total equity


255,482







248,492







Non-current liabilities






Loans & borrowings


49,726







23,175







Lease liabilities


3,063







5,112







Deferred tax liabilities


2,660







3,202







Deferred income


17,344







13,268







Other non-current liabilities


486







910







Total non-current liabilities


73,280







45,666







Current liabilities






Loans & borrowings


7,759







10,383







Lease liabilities


2,565







2,614







Trade payables


20,125







23,348







Tax payables


748







1,432







Deferred income


43,523







45,998







Other current liabilities


16,362







18,403







Liabilities held for sale


802







-







Total current liabilities


91,884







102,178







Total equity and liabilities


420,646







396,336







Consolidated statement of cash flows (Unaudited)






for the twelve months




ended December 31,







In 000€


2025






 






2024







Operating activities






Net (loss) profit for the period


7,716







13,406







Non-cash and operational adjustments


23,179







18,655







Depreciation of property plant & equipment


15,274







15,372







Amortization of intangible assets


6,431







6,435







(Gain) on bargain purchase


-







(23)







Share-based payment expense


266







285







Loss (gain) on disposal of intangible assets and property, plant & equipment


(85)







(312)







Government grants


(319)







(57)







Movement in provisions


(184)







539







Movement reserve for bad debt and slow moving inventory


723







236







Financial income


(3,957)







(7,575)







Financial expense


5,612







3,012







Impact of foreign currencies


(136)







29







(Deferred) income taxes


(446)







714







Working capital adjustments


(8,843)







(1,418)







Decrease (increase) in trade receivables and other receivables


(2,671)







(1,037)







Decrease (increase) in inventories and contracts in progress


(904)







(372)







Increase (decrease) in deferred revenue


(265)







1,270







Increase (decrease) in trade payables and other payables


(5,003)







(1,279)







Income tax paid


(1,076)







(3,152)







Interest received


4,343







3,965







Net cash flow from operating activities


25,319







31,456











for the twelve months ended




December 31,







In 000€


2025






 






2024







Investing activities






Purchase of property, plant & equipment


(14,092)







(24,649)







Purchase of intangible assets


(2,169)







(1,728)







Proceeds from the sale of property, plant & equipment & intangible assets (net)


389







458







Acquisition of subsidiary (net of cash)


-







(2,670)







Convertible loan to third party


2,500







-







Capital government grants received


3,669







-







Net cash flow used in investing activities


(9,703)







(28,588)







Financing activities






Proceeds from loans & borrowings


35,000







-







Repayment of loans & borrowings


(11,054)







(23,267)







Repayment of leases


(3,067)







(3,122)







Capital increase


-







-







Interest paid


(1,712)







(1,337)







Other financial income (expense)


(2,145)







81







Dividends paid to equity holders of the parent


0







-







Net cash flow from (used in) financing activities


17,023







(27,644)







Net increase/(decrease) of cash & cash equivalents


32,638







(24,776)







Cash & Cash equivalents at the beginning of the year


102,304







127,573







Exchange rate differences on cash & cash equivalents


(1,024)







(492)







Cash & cash equivalents at end of the period


133,918







102,304







Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)





for the three months ended

December 31,






 






for the twelve months

ended December 31,







In 000€

2025






 






2024






 






2025






 






2024







Net profit (loss) for the period

6,206







2,907







7,716







13,406







Income taxes

(695)







(874)







(429)







733







Financial expenses

(1,777)







(1,113)







5,616







2,969







Financial income

(623)







(2,188)







(3,968)







(7,677)







Depreciation and amortization

5,544







5,501







21,785







21,742







EBITDA

8,655







4,234







30,721







31,175







Share-based compensation expense (1)

74







72







266







285







Restructuring and corporate initiatives (2)

795







-







1,400







-







Acquisition-related expenses of business combinations (3)

-







-







-







24







Adjusted EBITDA

9,524







4,306







32,386







31,484














 


(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.


(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations


(3) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.


Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT (Unaudited)





for the three months ended

December 31,






 






for the twelve months

ended December 31,







In 000€

2025






 






2024






 






2025






 






2024







Net profit (loss) for the period

6,206







2,907







7,716







13,406







Income taxes

(695)







(874)







(429)







733







Financial expenses

(1,777)







(1,113)







5,616







2,969







Financial income

(623)







(2,188)







(3,968)







(7,677)







EBIT

3,111







(1,268)







8,936







9,432







Share-based compensation expense (1)

74







72







266







285







Restructuring and corporate initiatives (2)

795







-







1,400







-







Acquisition-related expenses of business combinations (3)

-







-







-







24







Adjusted EBIT

3,980







(1,195)







10,601







9,741














 


(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.


(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations


(3) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.


Segment P&L (Unaudited)



In 000€
Materialise
Medical

Materialise
Software

Materialise
Manufacturing

Total
segments

Unallocated
(1)

Consolidated


For the three months ended December 31, 2025













Revenues

37,016







10,974







22,174







70,164







(0)







70,164







Segment (adj) EBITDA

13,024







1,701







(2,199)







12,526







(3,001)







9,524







Segment (adj) EBITDA %

35.2%







15.5%







-9.9%







17.9%









13.6%







For the three months ended December 31, 2024













Revenues

31,837







11,124







22,719







65,680







0







65,680







Segment (adj) EBITDA

9,547







1,123







(2,989)







7,681







(3,375)







4,306







Segment (adj) EBITDA %

30.0%







10.1%







-13.2%







11.7%









6.6%


















 


In 000€
Materialise
Medical

Materialise
Software

Materialise
Manufacturing

Total
segments

Unallocated
(1)

Consolidated


For the twelve months ended December 31, 2025













Revenues

134,239







40,907







92,486







267,633







(0)







267,633







Segment (adj) EBITDA

42,983







5,469







(4,236)







44,217







(11,830)







32,386







Segment (adj) EBITDA %

32.0%







13.4%







-4.6%







16.5%









12.1%







For the twelve months ended December 31, 2024













Revenues

116,358







43,899







106,508







266,765







0







266,765







Segment (adj) EBITDA

35,562







5,562







1,660







42,784







(11,300)







31,484







Segment (adj) EBITDA %

30.6%







12.7%







1.6%







16.0%









11.8%


















 


(1) Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition or divestiture-related expenses of business combinations, impairments and revaluation of fair value of business combinations and non-recurring costs related to corporate initiatives, restructurings and reorganizations that are included in Adjusted EBITDA and that are not allocated to the reporting segments.


Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited)






for the three months ended

December 31,






 






for the twelve months

ended December 31,







In 000€


2025






 






2024






 






2025






 






2024







Net profit (loss) for the period


6,206







2,907







7,716







13,406







Income taxes


(695)







(874)







(429)







733







Financial expenses


(1,777)







(1,113)







5,616







2,969







Financial income


(623)







(2,188)







(3,968)







(7,677)







Operating (loss) profit


3,111







(1,268)







8,936







9,432







Depreciation and amortization


5,544







5,501







21,785







21,742







Corporate research and development


1,022







1,006







3,949







3,681







Corporate headquarter costs


3,562







2,717







12,048







10,254







Other operating income (expense)


(713)







(276)







(2,901)







(2,350)







Segment restructuring and reorganization


-







-







400







-







Acquisition-related expenses of business combinations (1)


-







-







-







24







Segment adjusted EBITDA


12,526







7,681







44,217







42,784















 


(1) Acquisition-related expenses of business combinations represent expenses incurred in connection with the acquisition of Feops.


 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218190654/en/
Investor Relations Contact

Harriet Fried

Alliance Advisors Investor Relations

212.838.3777

hfried@allianceadvisors.com


Original: Materialise Reports Fourth Quarter and Full Year 2025 Results

MTLS...$7.38...🥳...Off my $6.29 Alert... https://schrts.co/BqeSGShq ...50 and 100..crossed the 200...

MTLS...$6.45...HOD...🥳

georgie18

Member Level
Re: None

Monday, October 28, 2024 11:49:24 AM

Post#
721
of 721
MTLS...$6.29...Upper Bollie Breakout here...🥳...Bidding Open Gap as well in the $5.20 Range...

MTLS...$6.45...HOD...🥳

georgie18

Member Level
Re: None

Monday, October 28, 2024 11:49:24 AM

Post#
721
of 721
MTLS...$6.29...Upper Bollie Breakout here...🥳...Bidding Open Gap as well in the $5.20 Range...

MTLS...$6.29...Upper Bollie Breakout here...🥳...Bidding Open Gap as well in the $5.20 Range...

Materialise Reports Third Quarter 2024 Results

https://ih.advfn.com/stock-market/NASDAQ/materialise-nv-MTLS/stock-news/94772045/materialise-reports-third-quarter-2024-results

Materialise Reports Second Quarter 2024 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the second quarter ended June 30, 2024.

Highlights – Second Quarter 2024

Total revenue increased 6.2% to 68,797 kEUR compared to 64,810 kEUR for the second quarter of 2023.
Gross profit as a percentage of revenue for the second quarter of 2024 was 57.0%, in line with 57.2% for the corresponding 2023 period.
Adjusted EBIT increased to 3,872 kEUR for the second quarter of 2024 from (597) kEUR for the 2023 period, while Adjusted EBITDA increased to 9,188 kEUR for the second quarter of 2024 from 4,755 kEUR for the 2023 period.
Net profit for the second quarter of 2024 was 3,875 kEUR, or 0.07 EUR per diluted share, compared to (494) kEUR, or (0.01) EUR per diluted share, for the corresponding 2023 period.
CEO Brigitte de Vet-Veithen commented, “In the second quarter of 2024 Materialise continued on its growth path, generating record-high quarterly revenue of 68,797 kEUR. This represents growth of more than 6% compared to an already strong second quarter in 2023. We are especially pleased that all three of our business segments reported increased revenue. Materialise Medical turned in another strong performance, growing by 13%, while also Materialise Software and Materialise Manufacturing posted higher revenues. This solid topline performance enabled us to intensify our investments while maintaining net profitability. In another step forward, in July 2024 we acquired FEops, a Belgian company that develops AI-driven simulation technology to improve procedure efficiency and clinical outcomes for structural heart interventions. The acquisition positions Materialise to advance the personalized treatment of patients with heart diseases.”

Second Quarter 2024 Results

Total revenue for the second quarter of 2024 increased 6.2% to 68,797 kEUR from 64,810 kEUR for the second quarter of 2023. Adjusted EBIT increased to 3,872 kEUR for the second quarter of 2024 from (597) kEUR for the 2023 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the second quarter of 2024 was 5.6%, compared to (0.9)% for the second quarter of 2023. Adjusted EBITDA increased to 9,188 kEUR for the second quarter of 2024 from 4,755 kEUR for the 2023 period.

Revenue from our Materialise Medical segment increased 12.8% to 28,141 kEUR for the second quarter of 2024 compared to 24,945 kEUR for the same period in 2023. Segment Adjusted EBITDA amounted to 8,199 kEUR for the second quarter of 2024 compared to 2,683 kEUR while the segment Adjusted EBITDA margin was 29.1% compared to 10.8% for the second quarter of 2023.

Revenue from our Materialise Software segment increased 1.8% to 11,226 kEUR for the second quarter of 2024 from 11,030 kEUR for the same quarter last year. Segment Adjusted EBITDA decreased to 1,374 kEUR from 1,973 kEUR while the segment Adjusted EBITDA margin was 12.2% compared to 17.9% for the corresponding prior-year period reflecting the impact of increased development investments.

Revenue from our Materialise Manufacturing segment increased 2.1% to 29,429 kEUR for the second quarter of 2024 from 28,835 kEUR for the second quarter of 2023. Segment Adjusted EBITDA amounted to 2,416 kEUR compared to 2,708 kEUR for last year’s same period, while the segment Adjusted EBITDA margin was 8.2% compared to 9.4% for the second quarter of 2023.

Gross profit was 39,227 kEUR for the second quarter of 2024 compared to 37,047 kEUR for the same period last year, while gross profit as a percentage of revenue remained stable at 57.0% compared to 57.2% for the second quarter of 2023.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased in the aggregate by 10.4% to 36,631 kEUR for the second quarter of 2024 from 33,176 kEUR for the second quarter of 2023.

Net other operating income was 1,205 kEUR compared to (4,468) kEUR for the second quarter of 2023.

Operating result amounted to 3,801 kEUR compared to (597) kEUR for the second quarter of 2023.

Net financial result was 1,033 kEUR compared to 635 kEUR for the second quarter of 2023.

The second quarter of 2024 contained income tax expenses of (959) kEUR, compared to (532) kEUR in the second quarter of 2023.

As a result of the above, net result for the second quarter of 2024 was 3,875 kEUR, compared to (494) kEUR for the same period in 2023. Total comprehensive income for the second quarter of 2024, which includes exchange differences on translation of foreign operations, was 3,093 kEUR compared to 140 kEUR for the corresponding 2023 period.

At June 30, 2024, we had cash and cash equivalents of 125,492 kEUR compared to 127,573 kEUR at December 31, 2023. Gross debt amounted to 57,968 kEUR, compared to 64,398 kEUR at December 31, 2023. As a result, our net cash position (cash and cash equivalents less gross debt) was 67,524 kEUR, an increase of 4,349 kEUR compared to December 31, 2023.

Cash flow from operating activities for the second quarter of 2024 was 8,400 kEUR compared to 775 kEUR for the same period in 2023. Total cash out from capital expenditures for the second quarter of 2024 amounted to 8,459 kEUR.

Net shareholders’ equity at June 30, 2024 was 243,140 kEUR compared to 236,594 kEUR at December 31, 2023.

2024 Guidance

Mrs. de Vet-Veithen concluded, “Given the strength of our operational performance half-way through 2024 we believe that we are well on track to deliver the growth targets we set earlier. Accordingly, we continue to expect to report consolidated revenue for the full fiscal year 2024 within the 265,000 to 275,000 kEUR range we communicated earlier. We are also maintaining our Adjusted EBIT guidance of 11,000 kEUR to 14,000 kEUR for fiscal year 2024.”

Non-IFRS Measures

Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBIT and EBITDA, respectively. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0705, the reference rate of the European Central Bank on June 28, 2024.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the second quarter of 2024 on Wednesday, July 31, 2024, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call.

https://register.vevent.com/register/BI718bb17ca997447a95a1485df6eef011
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates over 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest and most complete 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed conflicts in the Middle East and Ukraine and governmental responses thereto, inflation, increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

Materialise Reports First Quarter 2024 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the first quarter ended March 31, 2024.

Highlights – First Quarter 2024

Total revenue decreased by 3.4% to 63,637 kEUR compared to 65,886 kEUR for the first quarter of 2023.
Gross profit as a percentage of revenue increased to 56.5% for the first quarter of 2024 from 55.9% for the 2023 period.
Adjusted EBIT decreased to 2,656 kEUR for the first quarter of 2024 from 4,998 kEUR for the 2023 period while Adjusted EBITDA decreased to 8,094 kEUR for the first quarter of 2024 from 10,310 kEUR for the 2023 period.
Net profit for the first quarter of 2024 was 3,585 kEUR, or 0.06 EUR per diluted share, compared to 3,715 kEUR, or 0.06 EUR per diluted share, for the 2023 period.
CEO Brigitte de Vet-Veithen commented, “In line with expectations our consolidated revenue decreased by 3% compared to the same period of 2023, an exceptionally strong quarter which showed 24% growth. In the first quarter of 2024, our Materialise Medical segment continued to lead the way with 8% revenue growth, while revenue declined in our Manufacturing and Software segments amidst less favorable market conditions. While continued investments in sustainable growth and the ongoing conversion to a recurring revenue business model impacted our operational profitability, we delivered a positive net result and an improved net cash position.”

First Quarter 2024 Results

Total revenue for the first quarter of 2024 decreased 3.4% to 63,637 kEUR from 65,886 kEUR for the first quarter of 2023. Adjusted EBIT decreased to 2,656 kEUR for the first quarter of 2024 from 4,998 kEUR for the 2023 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the first quarter of 2024 was 4.2%, compared to 7.6% for the first quarter of 2023. Adjusted EBITDA decreased to 8,094 kEUR for the first quarter of 2024 from 10,310 kEUR for the 2023 period.

Revenue from our Materialise Medical segment increased 7.7% to 26,183 kEUR for the first quarter of 2024 compared to 24,317 kEUR for the same period in 2023. Segment Adjusted EBITDA increased to 7,921 kEUR for the first quarter of 2024 compared to 7,348 kEUR while the segment Adjusted EBITDA margin remained stable at 30.3% compared to 30.2% for the first quarter of 2023.

Revenue from our Materialise Software segment decreased by 8.0% to 10,438 kEUR for the first quarter of 2024 from 11,350 kEUR for the same quarter last year. Segment Adjusted EBITDA decreased to 1,090 kEUR from 2,427 kEUR while the segment Adjusted EBITDA margin was 10.4% compared to 21.4% for the prior-year period.

Revenue from our Materialise Manufacturing segment decreased by 10.6% to 27,016 kEUR for the first quarter of 2024 from 30,219 kEUR for the first quarter of 2023. Segment Adjusted EBITDA decreased to 1,529 kEUR from 3,189 kEUR while the segment Adjusted EBITDA margin was 5.7% compared to 10.6% for the first quarter of 2023.

Gross profit decreased to 35,935 kEUR compared to 36,837 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 56.5% compared to 55.9% for the first quarter of 2023.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased, in the aggregate, 5.5% to 34,138 kEUR for the first quarter of 2024 from 32,358 kEUR for the first quarter of 2023.

Net other operating income increased to 789 kEUR from 519 kEUR for the first quarter of 2023.

Operating result amounted to 2,585 kEUR compared to 4,998 kEUR for the first quarter of 2023.

Net financial result increased to 1,510 kEUR compared to (566) kEUR for the first quarter of 2023.

The first quarter of 2024 contained income tax expenses of (510) kEUR, compared to (718) kEUR in the first quarter of 2023.

As a result of the above, net profit for the first quarter of 2024 was 3,585 kEUR, compared to 3,715 kEUR for the same period in 2023. Total comprehensive income for the first quarter of 2024, which includes exchange differences on translation of foreign operations, was 3,312 kEUR compared to 4,490 kEUR for the 2023 period.

At March 31, 2024, we had cash and cash equivalents of 128,899 kEUR compared to 127,573 kEUR at December 31, 2023. Gross debt amounted to 59,686 kEUR, compared to 64,398 kEUR at December 31, 2023. As a result, our net cash position (gross debt less cash and cash equivalents) increased by 6,038 kEUR to 69,213 kEUR.

Cash flow from operating activities for the first quarter of 2024 decreased to 9,970 kEUR from 11,044 kEUR for the same period in 2023. Total cash out from capital expenditures for the first quarter of 2024 amounted to 2,830 kEUR.

Net shareholders’ equity at March 31, 2024 was 239,977 kEUR compared to 236,594 kEUR at December 31, 2023.

2024 Guidance

Mrs. de Vet-Veithen concluded, “The fundamentals of our three business segments are strong and we remain confident that we are well positioned to deliver on our growth objectives. We continue to expect to report consolidated revenue for the full fiscal year 2024 within the 265,000 to 275,000 kEUR range we communicated in our year-end 2023 earnings announcement in February 2024. We are also maintaining our Adjusted EBIT guidance of 11,000 kEUR to 14,000 kEUR for fiscal year 2024.”

Non-IFRS Measures

Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBIT and EBITDA, respectively. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0811, the reference rate of the European Central Bank on March 28, 2024.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the first quarter of 2024 on Thursday, April 25, 2024, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call.

https://register.vevent.com/register/BIb413a8f0638448a2b9b49116612e00d9
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates over 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest and most complete 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed conflicts in the Middle East and Ukraine and governmental responses thereto, inflation, increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information

Materialise Reports Fourth Quarter and Full Year 2023 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software solutions and of sophisticated 3D printing services, today announced its financial results for the fourth quarter and full year ended December 31, 2023.

Highlights – Fourth Quarter 2023

Total revenue increased 4.1% to 65,295 kEUR for the fourth quarter of 2023 from 62,703 kEUR for the corresponding 2022 period.
Total deferred revenues from software maintenance and license fees increased by 4,826 kEUR this quarter to 44,905 kEUR.
Adjusted EBITDA amounted to 8,474 kEUR for the fourth quarter of 2023 compared to 4,258 kEUR for the corresponding 2022 period.
Net result for the fourth quarter of 2023 was (539) kEUR, or (0.01) EUR per diluted share, compared to a net result of (4,588) kEUR, or (0.08) EUR per diluted share, for the corresponding 2022 period. The net result in the fourth quarter of 2023 was impacted by non-cash impairment charges totaling (4,228) kEUR.
Highlights – Full Year 2023

Total revenue increased 10.4% to 256,127 kEUR for 2023 from 232,023 kEUR for 2022.
Revenue from our Medical segment surpassed the 100,000 kEUR threshold posting a full year revenue of 101,376 kEUR
Adjusted EBITDA was 31,397 kEUR for 2023 compared to 19,014 kEUR for 2022, representing an increase of 65%.
Net profit for 2023 was 6,695 kEUR, or 0.11 EUR per diluted share, compared to a net loss of (2,153) kEUR, or (0.04) EUR per diluted share, for 2022.
Total cash was 127,573 kEUR at the end of 2023.
CEO Brigitte de Vet-Veithen commented, “As turbulent macro-economic and geo-political conditions continued throughout the last quarter of 2023, Materialise’s business model once more proved its resilience and complementarity. Despite the challenging business climate we grew our total revenue by 4% and doubled our Adjusted EBITDA compared to last year’s same period. Materialise Medical again realized double-digit revenue growth and became the largest revenue contributor. With 128 million EUR of cash and cash equivalents on our balance sheet, additional financing secured and positive operating cash flow, we are well positioned to continue our investments in innovative 3D product and software solutions while we further integrate our diverse product portfolio creating additional synergies in the process.”

Fourth Quarter 2023 Results

Total revenue for the fourth quarter of 2023 increased 4.1% to 65,295 kEUR from 62,703 kEUR for the fourth quarter of 2022. Adjusted EBITDA amounted to 8,474 kEUR, compared to 4,258 kEUR for the same period in 2022. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the fourth quarter of 2023 was 13.0%, compared to 6.8% for the fourth quarter of 2022.

Revenue from our Materialise Software segment decreased 3.8% to 11,250 kEUR from 11,699 kEUR for the same quarter last year. Adjusted EBITDA for the segment amounted to 1,259 kEUR compared to (1,441) kEUR while the Adjusted EBITDA margin for the segment was 11.2%, compared to (12.3)% for the prior-year period.

Revenue from our Materialise Medical segment increased 14.8% to 27,848 kEUR for the fourth quarter of 2023, compared to 24,254 kEUR for the same period in 2022. Adjusted EBITDA for the segment was 9,365 kEUR compared to 6,355 kEUR, while the Adjusted EBITDA margin for the segment was 33.6% compared to 26.2%.

Revenue from our Materialise Manufacturing segment decreased 2.1% to 26,198 kEUR from 26,750 kEUR for the fourth quarter of 2022. Adjusted EBITDA for the segment decreased to 557 kEUR compared to 1,506 kEUR, while the Adjusted EBITDA margin for the segment was 2.1%, compared to 5.6% for the prior-year period.

Gross profit increased 5.2% to 37,548 kEUR for the fourth quarter of 2023 from 35,681 kEUR for the same period last year. Gross profit as a percentage of revenue was 57.5%, compared to 56.9%.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses decreased, in the aggregate, 6.5% to 35,375 kEUR for the fourth quarter of 2023 from 37,829 kEUR for the fourth quarter of 2022.

Net other operating income was (3,287) kEUR compared to 593 kEUR for the fourth quarter of 2022. Excluding non-recurring charges from the impairment of goodwill, tangible and intangible assets of Engimplan and Materialise Motion, net other operating income was 941 kEUR.

Operating result was (1,113) kEUR, compared to (1,554) kEUR for the fourth quarter of 2022. Excluding the effect of the impairments of goodwill, tangible and intangible assets, the operating result was 3,115 kEUR.

Net financial result for the fourth quarter of 2023 was (234) kEUR, compared to (3,436) kEUR for the fourth quarter of 2022.

The fourth quarter of 2023 contained net tax income of 809 kEUR, compared to net tax income of 402 kEUR for the fourth quarter of 2022.

As a result of the above, net profit for the fourth quarter of 2023 was (539) kEUR, compared to a net loss of (4,588) kEUR for the same period in 2022. Total comprehensive income for the fourth quarter of 2023 was (112) kEUR, compared to (7,623) kEUR for the 2022 period.

Full Year 2023 Results

Total revenues for the year ended December 31, 2023 increased 10.4% to 256,127 kEUR from 232,023 kEUR for the year ended December 31, 2022. Adjusted EBITDA for 2023 amounted to 31,397 kEUR compared to 19,014 kEUR for 2022. The Adjusted EBITDA margin was 12.3%, compared to 8.2% in 2022.

Revenues from our Materialise Software segment increased 1.7% to 44,442 kEUR for the year ended December 31, 2023 compared to 43,688 kEUR for the year ended December 31, 2022. The segment’s Adjusted EBITDA increased to 7,450 kEUR from 1,514 kEUR. The segment’s Adjusted EBITDA margin was 16.8% in 2023, compared to 3.5% in 2022.

Revenues from our Materialise Medical segment grew by 19.5% for the year ended December 31, 2023 to 101,376 kEUR from 84,846 kEUR for the year ended December 31, 2022. The segment’s Adjusted EBITDA increased 41.0% to 26,544 kEUR from 18,822 kEUR. The segment’s Adjusted EBITDA margin was 26.2% in 2023, compared to 22.2% in 2022.

Revenues from our Materialise Manufacturing segment increased 6.6% to 110,310 kEUR for the year ended December 31, 2023 from 103,489 kEUR for the year ended December 31, 2022. The segment’s Adjusted EBITDA amounted to 7,537 kEUR compared to 8,229 kEUR. The segment’s Adjusted EBITDA margin decreased to 6.8% in 2023 from 8.0% for 2022.

Gross profit increased 12.7% to 145,131 kEUR from 128,768 kEUR last year. Gross profit as a percentage of revenue was 56.7%, compared to 55.5%.

Operating result amounted to 5,619 kEUR for the year ended December 31, 2023 compared to (2,872) kEUR in the prior year. Excluding the effect of impairments of goodwill, tangible and intangible assets, the operating result was 9,847 kEUR.

Net financial result amounted to 1,154 kEUR, compared to net financial result of 1,694 kEUR for the year ended December 31, 2022. Income taxes amounted to (78) kEUR compared to (975) kEUR for the year ended December 31, 2022. Net profit was 6,695 kEUR for 2023 compared to a net loss of (2,153) kEUR in 2022.

At December 31, 2023, we had cash and equivalents of 127,573 kEUR compared to 140,867 kEUR at December 31, 2022. Gross debt amounted to 64,398 kEUR (of which 25,483 kEUR was short term), compared to 80,980 kEUR at December 31, 2022.

Cash flow from operating activities for the year ended December 31, 2023 was 20,157 kEUR compared to 22,288 kEUR in the year ended December 31, 2022. Total capital expenditures for the year ended December 31, 2023 amounted to 11,760 kEUR.

Net shareholders’ equity at December 31, 2023 was 236,594 kEUR compared to 228,928 kEUR at December 31, 2022.

2024 Guidance

For fiscal 2024, we will be providing guidance for both our consolidated revenue as well our consolidated Adjusted EBIT, and will no longer be providing guidance for our consolidated Adjusted EBITDA. We believe our consolidated Adjusted EBIT will be a more useful guidance measure for investors and analysts going forward as Adjusted EBIT includes the periodic cost of capitalized tangible and intangible assets used in generating revenue in our business and, as such, will allow for a better assessment of our expected performance. However, we will continue to report the segment Adjusted EBITDA of our three business segments.

Mrs. de Vet-Veithen concluded, “Whereas our guidance reflects the uncertain macro-economic and geo-political environment, we believe Materialise is ideally positioned, thanks to our strong product portfolio, continued investments in innovations and strong financial foundation. We expect sales in all three of our segments to increase. The growth of our Materialise Software revenue will be further temporarily impacted by the transition towards a cloud-based subscription business model that we are continuing to implement. Based on current market conditions, we expect our full year consolidated revenues to grow to a range of 265,000 to 275,000 kEUR in 2024. The revenue growth will result in an Adjusted EBIT which we currently anticipate to total between 11,000 and 14,000 kEUR. We expect our three segments to contribute to our Adjusted EBIT in line with their contributions to our revenue growth.”

Non-IFRS Measures

Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBIT and EBITDA, respectively. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.105, the reference rate of the European Central Bank on December 31, 2023.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter of 2023 and other matters on Wednesday, February 21, 2024, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer; and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call.

https://register.vevent.com/register/BI888ebbddf04e423395ea142ced72bee5
The conference call will also be broadcast live over the internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates over 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest and most complete 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed conflicts in the Middle East and Ukraine and governmental responses thereto, inflation, increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

Materialise Reports Third Quarter 2023 Results
October 26 2023 - 06:30AM
Business Wire
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Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the third quarter ended September 30, 2023.

Highlights – Third Quarter 2023

Total revenue increased 3.2% to 60,130 kEUR compared to 58,288 kEUR for the third quarter of 2022.
Total deferred revenue from annual software sales and maintenance fees amounted to 40,079 kEUR compared to 42,780 kEUR at December 31, 2022.
Adjusted EBITDA increased 55% to 7,857 kEUR compared to 5,072 kEUR for the corresponding 2022 period.
Net profit for the third quarter of 2023 increased 184% to 4,013 kEUR, or 0.07 EUR per diluted share, compared to 1,413 kEUR, or 0.02 EUR per diluted share, for the corresponding 2022 period.
Executive Chairman Peter Leys commented, “Once again, demand for our products and solutions remained solid throughout the third quarter of this year. While uncertain global macro-economic conditions primarily impacted our Materialise Manufacturing segment, Materialise’s consolidated revenue continued to grow, by 3% compared to the same period last year. This strong performance was mainly driven by the continued double-digit revenue increase of our Materialise Medical segment. At the same time, we grew our consolidated Adjusted EBITDA by 55% to 7,857 kEUR through our focus on leveraging scaling effects and cost control, and without compromising on our continued investments in our growth businesses.”

Third Quarter 2023 Results

Total revenue for the third quarter of 2023 increased 3.2% to 60,130 kEUR from 58,288 kEUR for the third quarter of 2022. Adjusted EBITDA amounted to 7,857 kEUR for the third quarter of 2023, a 55% increase compared to 5,072 kEUR for the corresponding 2022 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the third quarter of 2023 was 13.1% compared to 8.7% for the third quarter of 2022.

Revenue from our Materialise Software segment was 10,811 kEUR for the third quarter of 2023 compared to 10,863 kEUR for the same quarter last year. Segment EBITDA increased significantly to 1,781 kEUR from 202 kEUR while the segment EBITDA margin was 16.5% compared to 1.9% for the corresponding prior-year period.

Revenue from our Materialise Medical segment increased by 13.4% to 24,263 kEUR for the third quarter of 2023 compared to 21,391 kEUR for the same period in 2022. Segment EBITDA increased by 50% to 7,143 kEUR for the third quarter of 2023 compared to 4,765 kEUR while the segment EBITDA margin was 29.4% compared to 22.3% for the third quarter of 2022.

Revenue from our Materialise Manufacturing segment decreased 3.8% to 25,056 kEUR for the third quarter of 2023 from 26,033 kEUR for the third quarter of 2022. Segment EBITDA amounted to 1,074 kEUR compared to 2,530 kEUR for the same period last year, while the segment EBITDA margin was 4.3% compared to 9.7% for the third quarter of 2022.

Gross profit was 33,696 kEUR compared to 32,042 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 56.0% compared to 55.0% for the third quarter of 2022.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses decreased, in the aggregate, 4.2% to 32,076 kEUR for the third quarter of 2023 from 33,491 kEUR for the third quarter of 2022.

Net other operating income decreased to 710 kEUR from 1,166 kEUR for the third quarter of 2022.

Operating result amounted to 2,330 kEUR compared to (282) kEUR for the third quarter of 2022.

Net financial result was 1,319 kEUR compared to 2,173 kEUR for the third quarter of 2022.

The third quarter of 2023 contained income tax results of 363 kEUR compared to (478) kEUR in the third quarter of 2022.

As a result of the above, net profit for the third quarter of 2023 was 4,013 kEUR, compared to 1,413 kEUR for the same period in 2022. Total comprehensive income for the third quarter of 2023, which includes exchange differences on translation of foreign operations, was 3,242 kEUR compared to 1,638 kEUR for the corresponding 2022 period.

At September 30, 2023, we had cash and cash equivalents of 133,953 kEUR, compared to 140,867 kEUR at December 31, 2022. Gross debt amounted to 66,222 kEUR compared to 80,980 kEUR at December 31, 2022. As a result, our net cash position (cash and cash equivalents less gross debt) was 67,731 kEUR compared to 59,887 kEUR at December 31, 2022.

Cash flow from operating activities for the third quarter of the year 2023 was 8,143 kEUR, compared to 3,840 kEUR for the same period in 2022. Total capital expenditures for the third quarter of 2023 amounted to 3,920 kEUR.

Net shareholders’ equity at September 30, 2023 was 236,631 kEUR compared to 228,928 kEUR at December 31, 2022.

2023 Guidance

Mr. Leys concluded, “The revenue growth posted by each of our business segments during the first nine months of this year strengthens our confidence that our full-year 2023 revenues will be, in spite of the challenging macro-economic circumstances, well within our previously communicated range of 255,000 kEUR to 260,000 kEUR. At the same time, we are maintaining our Adjusted EBITDA guidance of between 28,000 kEUR and 33,000 kEUR for fiscal year 2023.”

Non-IFRS Measures

Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company’s day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0594, the reference rate of the European Central Bank on September 30, 2023.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the third quarter of 2023 on Thursday, October 26, 2023, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the conference call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or to receive a call to connect to Materialise’s conference call.
https://register.vevent.com/register/BI67b272ddef5b405d8f5d004208bd450f
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBITDA, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed conflicts in Israel and Ukraine and governmental responses thereto, inflation, increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information

https://ih.advfn.com/stock-market/NASDAQ/materialise-nv-MTLS/stock-news/92373118/materialise-reports-third-quarter-2023-results

Materialise Reports Second Quarter 2023 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the second quarter ended June 30, 2023.

Highlights – Second Quarter 2023

Total revenue increased 11.6% to 64,810 kEUR compared to 58,070 kEUR for the second quarter of 2022.
Total deferred revenue from annual software sales and maintenance fees amounted to 41,740 kEUR compared to 42,780 kEUR at December 31, 2022.
Adjusted EBITDA increased 12.2% to 4,755 kEUR compared to 4,240 kEUR for the corresponding 2022 period.
Excluding an unexpected adverse arbitration award for (5,189) kEUR, the Adjusted EBITDA margin for the quarter would have been 15.3%.
Net profit for the second quarter of 2023 was (494) kEUR, or (0.01) EUR per diluted share, compared to 896 kEUR, or 0.02 EUR per diluted share, for the corresponding 2022 period.
Executive Chairman Peter Leys commented, “Materialise delivered another strong operational performance in the second quarter of 2023. Our consolidated revenues of 64,810 kEUR rose almost 12% compared to the same period last year, with increased revenues in all three of our segments. Materialise Medical had an especially robust performance with revenue increasing 20%. Our Q2 2023 consolidated Adjusted EBITDA of 4,755 kEUR represents an increase of more than 12% compared to last year's corresponding period despite the (5,189) kEUR negative impact resulting from an unexpected adverse resolution of an arbitration proceeding in May 2023. Given the strength of our fundamental operations, we are able to maintain the guidance previously provided for both our 2023 revenue and our Adjusted EBITDA.”

Second Quarter 2023 Results

Total revenue for the second quarter of 2023 increased 11.6% to 64,810 kEUR from 58,070 kEUR for the second quarter of 2022. Adjusted EBITDA amounted to 4,755 kEUR for the second quarter of 2023 compared to 4,240 kEUR for the corresponding 2022 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the second quarter of 2023 was 7.3%, equal to the second quarter of 2022. Excluding the (5,189) kEUR negative impact resulting from the unexpected adverse resolution of an arbitration proceeding, our Adjusted EBITDA margin for the quarter would have been 15.3%.

Revenue from our Materialise Software segment increased 3.6% to 11,030 kEUR for the second quarter of 2023 from 10,642 kEUR for the same quarter last year. Segment EBITDA increased to 1,973 kEUR from 821 kEUR while the segment EBITDA margin was 17.9% compared to 7.7% for the corresponding prior-year period.

Revenue from our Materialise Medical segment increased 19.6% to 24,945 kEUR for the second quarter of 2023 compared to 20,855 kEUR for the same period in 2022. Segment EBITDA amounted to 2,683 kEUR for the second quarter of 2023 compared to 4,474 kEUR while the segment EBITDA margin was 10.8% compared to 21.5% for the second quarter of 2022. The Medical segment EBITDA for the second quarter of 2023 includes the (5,189) kEUR negative effect from an arbitration award granted against us in our previously disclosed indemnification dispute with Zimmer Biomet related to certain joint replacement devices. Excluding the (5,189) kEUR negative impact, the Adjusted EBITDA margin of our Medical segment for the quarter would have been 31.6%.

Revenue from our Materialise Manufacturing segment increased 8.5% to 28,835 kEUR for the second quarter of 2023 from 26,574 kEUR for the second quarter of 2022. Segment EBITDA amounted to 2,708 kEUR compared to 1,581 kEUR for the same period last year, while the segment EBITDA margin was 9.4% compared to 5.9% for the second quarter of 2022.

Gross profit was 37,047 kEUR for the second quarter of 2023 compared to 32,030 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 57.2% compared to 55.2% for the second quarter of 2022.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses decreased in the aggregate by 1.3% to 33,176 kEUR for the second quarter of 2023 from 33,613 kEUR for the second quarter of 2022, with disciplined cost containment in S&M and G&A fully offsetting the increased costs of our continued R&D efforts.

Net other operating income, which includes the negative impact from the adverse arbitration award, was (4,468) kEUR compared to 498 kEUR for the second quarter of 2022.

Operating result amounted to (597) kEUR compared to (1,084) kEUR for the second quarter of 2022.

Net financial result was 635 kEUR compared to 2,580 kEUR for the second quarter of 2022.

The second quarter of 2023 contained income tax expenses of (532) kEUR, compared to (600) kEUR in the second quarter of 2022.

As a result of the above, net result for the second quarter of 2023 was (494) kEUR, compared to 896 kEUR for the same period in 2022. Total comprehensive income for the second quarter of 2023, which includes exchange differences on translation of foreign operations, was 140 kEUR compared to 771 kEUR for the corresponding 2022 period.

At June 30, 2023, after payment of the 5,189 kEUR arbitration award, we had cash and cash equivalents of 136,285 kEUR compared to 140,867 kEUR at December 31, 2022. Gross debt amounted to 72,412 kEUR, compared to 80,980 kEUR at December 31, 2022. As a result, our net cash position (cash and cash equivalents less gross debt) was 63,873 kEUR, an increase of 3,986 kEUR compared to December 31, 2022

Cash flow from operating activities for the second quarter of the year 2023 was 775 kEUR compared to 8,636 kEUR for the same period in 2022. Total capital expenditures for the second quarter of 2023 amounted to 2,119 kEUR.

Net shareholders’ equity at June 30, 2023 was 233,393 kEUR compared to 228,928 kEUR at December 31, 2022.

2023 Guidance

Mr. Leys concluded, “Seven months into 2023, Materialise continues to expect to report consolidated revenue towards the high end of the 255,000 kEUR to 260,000 kEUR range we previously provided. We are also maintaining, despite the unexpected arbitration award granted against us in May 2023 for a total amount of (5,189) kEUR, our Adjusted EBITDA guidance between 28,000 kEUR and 33,000 kEUR for fiscal year 2023”.

Non-IFRS Measures

Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company’s day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0866, the reference rate of the European Central Bank on June 30, 2023.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the second quarter of 2023 on Wednesday, July 26, 2023, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the conference call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or to receive a call to connect to Materialise’s conference call.
https://register.vevent.com/register/BI53606bb1a4de423d813eba83e6ecd558
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBITDA, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the ongoing military conflict between Ukraine and Russia and economic sanctions thereto as well as by inflation and increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

I’m still here.

I believe that any news is potentially beneficial. I know no more than anybody.

GL to us all!

Good morning Dad. Hope you are doing well. What do you think about the partnering with DM?

Materialise Reports First Quarter 2023 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the first quarter ended March 31, 2023.

Highlights – First Quarter 2023

Total revenue increased 24.4% to 65,886 kEUR compared to 52,961 kEUR for the first quarter of 2022.
Total deferred revenues from annual software sales and maintenance fees increased by 1,728 kEUR this quarter to 44,508 kEUR.
Adjusted EBITDA increased to 10,310 kEUR for the first quarter of 2023 from 5,443 kEUR for the 2022 period.
Net profit for the first quarter of 2023 was 3,715 kEUR, or 0.06 EUR per diluted share, compared to 127 kEUR, or 0.00 EUR per diluted share, for the 2022 period.
Executive Chairman Peter Leys commented, “Materialise performed extremely well in the year’s opening quarter. Our consolidated revenues increased more than 24%, boosted by the very strong growth of Materialise Medical and Materialise Manufacturing revenues, by 33% and 25% respectively, and further supported by a solid revenue uptake at Materialise Software of more than 8%. During the quarter, our Adjusted EBITDA increased 89% to 10,310 kEUR, mainly because of scaling effects.”

First Quarter 2023 Results

Total revenue for the first quarter of 2023 increased 24.4% to 65,886 kEUR from 52,961 kEUR for the first quarter of 2022. Adjusted EBITDA increased to 10,310 kEUR for the first quarter of 2023 from 5,443 kEUR for the 2022 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the first quarter of 2023 was 15.6%, compared to 10.3% for the first quarter of 2022.

Revenue from Materialise Software increased 8.3% to 11,350 kEUR for the first quarter of 2023 from 10,483 kEUR for the same quarter last year. Segment Adjusted EBITDA increased to 2,427 kEUR from 1,932 kEUR while the segment Adjusted EBITDA margin was 21.4% compared to 18.4% for the prior-year period.

Revenue from our Materialise Medical segment increased 32.5% to 24,317 kEUR for the first quarter of 2023 compared to 18,347 kEUR for the same period in 2022. Segment Adjusted EBITDA increased to 7,348 kEUR for the first quarter of 2023 compared to 3,227 kEUR while the segment Adjusted EBITDA margin grew to 30.2% compared to 17.6% for the first quarter of 2022.

Revenue from our Materialise Manufacturing segment increased 25.2% to 30,219 kEUR for the first quarter of 2023 from 24,131 kEUR for the first quarter of 2022. Segment Adjusted EBITDA increased to 3,189 kEUR from 2,613 kEUR while the segment Adjusted EBITDA margin was 10.6% compared to 10.8% for the first quarter of 2022.

Gross profit grew to 36,837 kEUR compared to 28,884 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 55.9% compared to 54.5% for the first quarter of 2022.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased, in the aggregate, 8.7% to 32,358 kEUR for the first quarter of 2023 from 29,774 kEUR for the first quarter of 2022.

Net other operating income was 519 kEUR compared to 938 kEUR for the first quarter of 2022.

Operating result amounted to 4,998 kEUR compared to 49 kEUR for the first quarter of 2022.

Net financial result was (566) kEUR compared to 376 kEUR for the first quarter of 2022.

The first quarter of 2023 contained income tax expenses of (718) kEUR, compared to (298) kEUR in the first quarter of 2022.

As a result of the above, net profit for the first quarter of 2023 was 3,715 kEUR, compared to 127 kEUR for the same period in 2022. Total comprehensive income for the first quarter of 2023, which includes exchange differences on translation of foreign operations, was 4,490 kEUR compared to 1,543 kEUR for the 2022 period.

At March 31, 2023, we had cash and cash equivalents of 141,720 kEUR compared to 140,867 kEUR at December 31, 2022. Gross debt amounted to 75,251 kEUR, compared to 80,980 kEUR at December 31, 2022. As a result, our net cash position (gross debt less cash and cash equivalents) increased 6,582 kEUR to 66,469 kEUR.

Cash flow from operating activities for the first quarter of 2023 decreased to 11,044 kEUR from 11,111 kEUR for the same period in 2022. Total capital expenditures for the first quarter of 2023 amounted to 3,271 kEUR.

Net shareholders’ equity at March 31, 2023 was 233,251 kEUR compared to 228,928 kEUR at December 31, 2022.

2023 Guidance

Executive Chairman Peter Leys concluded, “In the beginning of 2023, we expected Materialise to report consolidated revenue between 255,000 kEUR and 260,000 kEUR and Adjusted EBITDA between 25,000 kEUR and 30,000 kEUR. Based on the company’s strong Q1 performance, but also bearing in mind the uncertain global macro-economic environment, we now believe that our 2023 revenue will come closer to the high end of the initially guided range, and expect that our 2023 Adjusted EBITDA could be up to 10% higher than the top of the range communicated earlier.”

Non-IFRS Measures

Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company’s day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0875, the reference rate of the European Central Bank on March 31, 2023.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the first quarter of 2023 on Thursday, April 27, 2023, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Johan Albrecht, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call.

https://register.vevent.com/register/BIce3a939d16b0475c9bfcecc011563924
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our current estimates for fiscal 2023 revenue and Adjusted EBITDA, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the ongoing military conflict between Ukraine and Russia and economic sanctions related thereto as well as by inflation and increased labor, energy and materials costs), and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release.

The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

https://ih.advfn.com/stock-market/NASDAQ/materialise-nv-MTLS/stock-news/90876523/materialise-reports-first-quarter-2023-results

One day a teen will compliment the others shoes, they'll say, Thanks I just downloaded that last night, how much did it cost, and it will be just as expensive as today, but the snobbier kids will use printers that use fancier type plastics to differentiate from the the shittier shoes that don't fit that great that cheaper parents will buy. Rich kids will get metal shoelace grommets no less.

rant for today..

MTLS$...

Materialise Reports Fourth Quarter and Full Year 2022 Results
6:30 am ET February 14, 2023 (BusinessWire) Print
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software solutions and of sophisticated 3D printing services, today announced its financial results for the fourth quarter and full year ended December 31, 2022.

Highlights - Fourth Quarter 2022

Total revenue increased 10% to 62,703 kEUR for the fourth quarter of 2022 from 56,989 kEUR for the 2021 period. Adjusted EBITDA amounted to 4,258 kEUR for the fourth quarter of 2022 compared to 10,490 kEUR for the 2021 period. Net loss for the fourth quarter of 2022 was (4,588) kEUR, or (0.08) EUR per diluted share, compared to a profit of 4,762 kEUR, or 0.08 EUR per diluted share, for the 2021 period.

Highlights - Full Year 2022

Total revenue increased 13% to 232,023 kEUR for 2022 from 205,450 kEUR for 2021. Total deferred revenues from annual software sales and maintenance fees increased 7,635 kEUR to 42,780 kEUR compared to December 31, 2021. Adjusted EBITDA was 19,014 kEUR for 2022 compared to 32,490 kEUR for 2021. Net loss for 2022 was (2,153) kEUR, or (0.04) EUR per diluted share, compared to a profit of 13,145 kEUR, or 0.23 EUR per diluted share, for 2021. Total cash was 140,867 kEUR at the end of 2022.

Executive Chairman Peter Leys commented, "Amidst the macro-economic and geo-political turbulence of 2022, Materialise prioritized the sustainability of our top-line growth over the maximization of short term profits. In 2022, we increased our revenues by 13% and grew our deferred revenues by more than 20%. In addition, we continued to strategically invest in our growth businesses despite significant inflationary pressures on labor, energy and materials costs and accelerated the consolidation with both Link3D and Identify3D, as a basis for our future cloud-based recurring income. These added costs in addition to certain one-time items weighed on our overall profitability for the year, with Adjusted EBITDA decreasing to 19,014 kEUR. However, with positive cash flow from operating activities of almost 25,000 kEUR in 2022 and cash and cash equivalents in excess of 140,000 kEUR at year end, we have the liquidity to support these investments and believe this was the right choice for Materialise, positioning us well for more profitable growth in the coming years."

Fourth Quarter 2022 Results

Total revenue for the fourth quarter of 2022 increased 10.0% to 62,703 kEUR from 56,989 kEUR for the fourth quarter of 2021. Adjusted EBITDA amounted to 4,258 kEUR, compared to 10,490 kEUR for the same period in 2021. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the fourth quarter of 2022 was 6.8%, compared to 18.4% for the fourth quarter of 2021.

Revenue from our Materialise Software segment decreased 4.0% to 11,699 kEUR from 12,183 kEUR for the same quarter last year. Adjusted EBITDA for the segment amounted to (1,441) kEUR compared to 5,518 kEUR while the Adjusted EBITDA margin for the segment was (12.3)%, compared to 45.3% for the prior-year period.

Revenue from our Materialise Medical segment increased 17.3% to 24,254 kEUR for the fourth quarter of 2022, compared to 20,682 kEUR for the same period in 2021. Adjusted EBITDA for the segment was 6,355 kEUR compared to 6,358 kEUR, while the Adjusted EBITDA margin for the segment was 26.2% compared to 30.7%.

Revenue from our Materialise Manufacturing segment increased 10.9% to 26,750 kEUR from 24,124 kEUR for the fourth quarter of 2021. Adjusted EBITDA for the segment increased to 1,506 kEUR compared 990 kEUR, while the Adjusted EBITDA margin for the segment was 5.6%, compared to 4.1% for the prior-year period.

Gross profit increased 7.5% to 35,681 kEUR for the fourth quarter of 2022 from 33,198 kEUR for the same period last year. Gross profit as a percentage of revenue was 56.9%, compared to 58.3%.

Research and development ("R&D"), sales and marketing ("S&M") and general and administrative ("G&A") expenses increased, in the aggregate, 28.3% to 37,829 kEUR for the fourth quarter of 2022 from 29,481 kEUR for the fourth quarter of 2021.

Net other operating result was 593 kEUR compared to 1,260 kEUR for the fourth quarter of 2021.

Operating result was (1,554) kEUR, compared to 4,976 kEUR for the fourth quarter of 2021.

Net financial result for the fourth quarter of 2022 was (3,436) kEUR, compared to 275 kEUR for the fourth quarter of 2021, mainly as a result of currency exchange losses.

The fourth quarter of 2022 contained net income tax income of 402 kEUR, compared to net tax expense of (490) kEUR for the fourth quarter of 2021.

As a result of the above, net loss for the fourth quarter of 2022 was (4,588) kEUR, compared to a net profit of 4,762 kEUR for the same period in 2021. Total comprehensive income for the fourth quarter of 2022 was (7,623) kEUR, compared to a profit of 1,832 kEUR for the 2021 period.

Full Year 2022 Results

Total revenues for the year ended December 31, 2022 increased 12.9% to 232,023 kEUR from 205,450 kEUR for the year ended December 31, 2021. Adjusted EBITDA for 2022 amounted to 19,014 kEUR compared to 32,490 kEUR for 2021. The Adjusted EBITDA margin was 8.2%, compared to 15.8% in 2021.

Revenues from our Materialise Software segment increased 1.8% to 43,688 kEUR for the year ended December 31, 2022 compared to 42,902 kEUR for the year ended December 31, 2021. The segment's Adjusted EBITDA amounted to 1,514 kEUR compared to 15,705 kEUR. The segment's Adjusted EBITDA margin was 3.5% in 2022, compared to 36.6% in 2021.

Revenues from our Materialise Medical segment grew by 15.6% for the year ended December 31, 2022 to 84,846 kEUR from 73,368 kEUR for the year ended December 31, 2021. The segment's Adjusted EBITDA amounted to 18,822 kEUR compared to 20,669 kEUR. The segment's Adjusted EBITDA margin was 22.2% in 2022, compared to 28.2% in 2021.

Revenues from our Materialise Manufacturing segment increased 16.0% to 103,489 kEUR for the year ended December 31, 2022 from 89,180 kEUR for the year ended December 31, 2021. The segment's Adjusted EBITDA increased 31.1% to 8,229 kEUR from 6,275 kEUR. The segment's Adjusted EBITDA margin increased to 8.0% in 2022 from 7.0% for 2021.

Operating profit amounted to (2,872) kEUR for the year ended December 31, 2022 compared to a profit of 12,217 kEUR in the prior year.

Net financial income amounted to 1,694 kEUR, compared to net financial income of 1,519 kEUR for the year ended December 31, 2021. Income taxes amounted to (975) kEUR compared to (591) kEUR for the year ended December 31, 2021. Net loss was (2,153) kEUR for 2022 compared to a net profit of 13,145 kEUR in 2021.

At December 31, 2022, we had cash and equivalents of 140,867 kEUR compared to 196,028 kEUR at December 31, 2021. Gross debt amounted to 80,980 kEUR (of which 19,960 kEUR was short term), compared to 99,107 kEUR at December 31, 2021.

Cash flow from operating activities for the year ended December 31, 2022 was 24,709 kEUR compared to 25,845 kEUR in the year ended December 31, 2021. Total capital expenditures for the year ended December 31, 2022 amounted to 24,773 kEUR.

Net shareholders' equity at December 31, 2022 was 228,928 kEUR compared to 232,578 kEUR at December 31, 2021.

2023 Guidance

Mr. Leys concluded, "We currently expect Materialise to post another year of double-digit revenue growth, with revenues totaling between 255,000 and 260,000 kEUR in 2023. As in 2022, we expect our Materialise Medical segment and our Materialise Manufacturing segment will be the main drivers of that growth. While we expect sales of our Materialise Software segment will also grow, this growth may not be fully reflected in the segment's revenues due to the changing cloud-based subscription business model we are introducing there.

"Assuming that inflation stabilizes in 2023, we expect our continued revenue growth to gradually result in a stronger Adjusted EBITDA, which we currently anticipate to total between 25,000 and 30,000 kEUR for 2023. We expect our three segments to contribute to our Adjusted EBITDA in line with their contributions to our revenue growth.

"At the same time, we want to note that the developments in Ukraine will likely have an important impact on the European and global economy as well as on the continuity of the important services we source from our brave workforce in Kyiv and could, therefore, also have a significant effect on our results for 2023. We will continue to monitor these developments, which remain unpredictable."

Non-IFRS Measures

Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit(loss) plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company's day-to-day operations. As compared to net profit(loss), these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company's business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company's ability to grow or as a valuation measurement. The company's calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit(loss) or any other performance measure derived in accordance with IFRS. The company's presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.0666, the reference rate of the European Central Bank on December 31, 2022.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter of 2022 and other matters on Tuesday, February 14, 2023 at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Johan Albrecht, Chief Financial Officer. A question-and-answer session will follow management's remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise's conference call.

https://register.vevent.com/register/BI658e710186554ddfb27b37ef31c78ee1

The conference call will also be broadcast live over the internet with an accompanying slide presentation, which can be accessed on the company's website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise's open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines the largest groups of software developers in the industry with one of the largest and most complete 3D printing facilities in the world.

Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)

Source: Edgar (US Regulatory)


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 6-K


REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2022
Commission File Number: 001-36515


Materialise NV


Technologielaan 15
3001 Leuven
Belgium
(Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ? Form 40-F ?
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ?
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ?
This Form 6-K is incorporated by reference into the registrant’s Registration Statement on Form F-3 (File No. 333-213649).



Third Quarter 2022 Financial Results
Except as otherwise required by the context, references to “Materialise,” “Company,” “we,” “us” and “our” are to Materialise NV and its subsidiaries.
Third Quarter 2022 Results
Total revenue for the third quarter of 2022 increased 11.7% to 58,288 kEUR from 52,195 kEUR for the third quarter of 2021.
Revenue from our Materialise Software segment increased 3.8% to 10,863 kEUR for the third quarter of 2022 from 10,468 kEUR for the same quarter last year.
Revenue from our Materialise Medical segment increased 13.1% to 21,391 kEUR for the third quarter of 2022 compared to 18,910 kEUR for the same period in 2021.
Revenue from our Materialise Manufacturing segment increased 14.1% to 26,033 kEUR for the third quarter of 2022 from 22,817 kEUR for the third quarter of 2021.
Gross profit was 32,042 kEUR compared to 31,076 kEUR for the same period last year, while gross profit as a percentage of revenue decreased to 55.0% compared to 59.5% for the third quarter of 2021.
Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased, in the aggregate, 24.5% to 33,491 kEUR for the third quarter of 2022 from 26,900 kEUR for the third quarter of 2021.
Net other operating income increased to 1,166 kEUR from 355 kEUR for the third quarter of 2021.
Operating result amounted to (282) kEUR compared to 4,529 kEUR for the third quarter of 2021.
Net financial result was 2,173 kEUR compared to 4,203 kEUR for the third quarter of 2021.
The third quarter of 2022 contained income tax expenses of (478) kEUR, compared to (75) kEUR in the third quarter of 2021.
As a result of the above, net profit for the third quarter of 2022 was 1,413 kEUR, compared to 8,657 kEUR for the same period in 2021. Total comprehensive income for the third quarter of 2022, which includes exchange differences on translation of foreign operations, was 1,638 kEUR compared to 8,272 kEUR for the 2021 period.
At September 30, 2022, we had cash and cash equivalents of 150,621 kEUR compared to 196,028 kEUR at December 31, 2021. Gross debt amounted to 83,925 kEUR, compared to 99,107 kEUR at December 31, 2021. As a result, our net cash position (cash and cash equivalents less gross debt) was 66,696 kEUR, a decrease of 30,225 kEUR, and included the effect of our call option exercise to acquire 100% of the shares of Link3D, and of our acquisition of Identify3D.
Cash flow from operating activities for the third quarter of the year 2022 was 3,840 kEUR compared to 4,388 kEUR for the same period in 2021. Total capital expenditures for the third quarter of 2022 amounted to 9,441 kEUR.
Net shareholders’ equity at September 30, 2022 was 236,559 kEUR compared to 232,577 kEUR at December 31, 2021.
Adjusted EBITDA amounted to 5,072 kEUR for the third quarter of 2022 compared to 9,739 kEUR for the 2021 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the third quarter of 2022 was 8.7%, compared to 18.7% for the third quarter of 2021.
Adjusted EBITDA from our Materialise Software segment decreased, including the effect of ongoing investments in Link3D and Identify3D, to 202 kEUR from 3,708 kEUR while the segment EBITDA margin (segment EBITDA divided by segment revenue) was 1.9% compared to 35.4% for the prior-year period.
Adjusted EBITDA from our Materialise Medical segment amounted to 4,765 kEUR for the third quarter of 2022 compared to 5,251 kEUR while the segment EBITDA margin was 22.3% compared to 27.8% for the third quarter of 2021.
Adjusted EBITDA from our Materialise Manufacturing segment amounted to 2,530 kEUR compared to 3,546 kEUR for the same period last year, while the segment EBITDA margin was 9.7% compared to 15.5% for the third quarter of 2021.
Non-IFRS Measures
Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company’s day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.
Exchange Rate
This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 0.9748, the reference rate of the European Central Bank on September 30, 2022.
About Materialise
Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world.
Consolidated income statements (Unaudited)

for the three months ended
September 30, for the nine months ended
September 30,
In ‘000 2022 2022 2021(*) 2022 2021(*)
U.S.$ € € € €
Revenue
56,819 58,288 52,195 169,319 148,461
Cost of Sales
(25,584 ) (26,245 ) (21,119 ) (76,236 ) (64,378 )
Gross Profit
31,235 32,042 31,076 93,083 84,084
Gross profit as % of revenue
55.0 % 55.0 % 59.5 % 55.0 % 56.6 %
Research and development expenses
(9,078 ) (9,313 ) (6,602 ) (26,074 ) (19,982 )
Sales and marketing expenses
(14,815 ) (15,198 ) (12,413 ) (44,841 ) (35,730 )
General and administrative expenses
(8,754 ) (8,980 ) (7,885 ) (26,089 ) (23,449 )
Net other operating income (expenses)
1,137 1,166 355 2,603 2,318
Operating (loss) profit
(275 ) (282 ) 4,529 (1,318 ) 7,239
Financial expenses
(2,057 ) (2,110 ) 2,334 (4,671 ) (3,182 )
Financial income
4,175 4,283 1,869 9,800 4,426
Share in loss of joint venture
— — — — —
(Loss) profit before taxes
1,843 1,891 8,732 3,812 8,483
Income Taxes (*)
(466 ) (478 ) (75 ) (1,377 ) (101 )
Net (loss) profit for the period (*)
1,377 1,413 8,657 2,435 8,382
Net (loss) profit attributable to:
—
The owners of the parent
1,385 1,421 8,660 2,457 8,386
Non-controlling interest
(8 ) (8 ) (3 ) (21 ) (4 )
Earning per share attributable to owners of the parent


Basic (*)
0.02 0.02 0.15 0.04 0.15
Diluted (*)
0.02 0.02 0.15 0.04 0.15
Weighted average basic shares outstanding
59,064 59,064 58,731 59,064 55,935
Weighted average diluted shares outstanding
59,089 59,089 58,944 59,099 56,206

(*)
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the nine months ended September 30 income taxes and net profit is (46)k€.
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the three months ended September 30 income taxes and net profit is 5 k€.
Consolidated statements of comprehensive income (Unaudited)

for the three months ended
September 30, for the nine months ended
September 30,
In 000€ 2022 2022 2021(*) 2022 2021(*)
U.S.$ € € € €
Net profit (loss) for the period (*)
1,377 1,413 8,657 2,435 8,382
Other comprehensive income

Recycling

Exchange difference on translation of foreign operations
219 225 (385 ) 1,291 1,590
Non-recycling

Fair value adjustments through OCI - Equity instruments
— — — (0 ) 48
Other comprehensive income (loss), net of taxes
219 225 (385 ) 1,291 1,638
Total comprehensive income (loss) for the year, net of taxes
1,596 1,638 8,272 3,726 10,020
Total comprehensive income (loss) attributable to:

The owners of the parent
1,604 1,646 8,275 3,748 10,023
Non-controlling interests
(8 ) (8 ) (3 ) (21 ) (3 )

(*)
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the nine months ended September 30 income taxes and net profit is (46)k€.
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the three months ended September 30 income taxes and net profit is 5 k€.
Consolidated statement of financial position (Unaudited)

As of
September 30, As of
December 31,
In 000€ 2022 2021
Assets

Non-current assets

Goodwill
50,190 18,726
Intangible assets
38,710 31,668
Property, plant & equipment
92,335 84,451
Right-of-Use assets
8,520 9,054
Investments in joint ventures
— —
Deferred tax assets
217 227
Investments in convertible loans
3,431 3,560
Investments in non-listed equity instruments
399 399
Other non-current assets
4,948 7,520
Total non-current assets
198,750 155,605
Current assets

Inventories
15,532 11,295
Trade receivables
42,329 41,541
Other current assets
8,374 8,940
Cash and cash equivalents
150,621 196,028
Total current assets
216,856 257,803
Total assets
415,606 413,408
As of
September 30, As of
December 31,
In 000€ 2022 2021
Equity and liabilities

Equity

Share capital
4,487 4,489
Share premium
233,869 233,872
Retained earnings and other reserves
(1,797 ) (5,784 )
Equity attributable to the owners of the parent
236,559 232,577
Non-controlling interest
(21 ) 1
Total equity
236,538 232,578
Non-current liabilities

Loans & borrowings
58,126 72,637
Lease liabilities
5,004 5,268
Deferred tax liabilities
4,239 4,371
Deferred income
6,932 4,952
Other non-current liabilities
1,027 2,168
Total non-current liabilities
75,328 89,396
Current liabilities

Loans & borrowings
17,593 17,849
Lease liabilities
3,202 3,353
Trade payables
25,038 20,171
Tax payables
1,128 783
Deferred income
36,112 33,306
Other current liabilities
20,667 15,972
Total current liabilities
103,740 91,434
Total equity and liabilities
415,606 413,408
Consolidated statement of cash flows (Unaudited)

for the nine months ended
September 30,
In 000€ 2022 2021*
Operating activities

Net (loss) profit for the period (*)
2,435 8,382
Non-cash and operational adjustments

Depreciation of property plant & equipment
11,335 11,460
Amortization of intangible assets
4,859 3,780
Impairment of goodwill and intangible assets
— —
Share-based payment expense
(121 ) (878 )
Loss (gain) on disposal of property, plant & equipment
59 43
Movement in provisions
(506 ) 7
Movement reserve for bad debt and slow moving inventory
(42 ) 154
Financial income
(9,771 ) (4,426 )
Financial expense
5,009 3,182
Impact of foreign currencies
98 107
Share in loss (gain) of a joint venture (equity method)
— —
(Deferred) income taxes (*)
1,384 101
Other non-current liabilities
— —
Working capital adjustments
9,109 (4,531 )
Decrease (increase) in trade receivables and other receivables
(184 ) (7,553 )
Decrease (increase) in inventories and contracts in progress
(4,356 ) (1,770 )
Increase (decrease) in deferred revenue
3,815 (56 )
Increase (decrease) in trade payables and other payables
9,834 4,848
Income tax paid & Interest received
(262 ) 108
Net cash flow from operating activities
23,587 17,490

(*)
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on Net profit for the period and on (Deferred) income taxes is (46) k€.
for the nine months ended
September 30,
In 000€ 2022 2021
Investing activities

Purchase of property, plant & equipment
(16,066 ) (4,827 )
Purchase of intangible assets
(3,422 ) (2,439 )
Proceeds from the sale of property, plant & equipment & intangible assets (net)
319 295
Acquisition of subsidiary (net of cash)
(29,355 ) —
(Convertible) Loans granted
— 1,239
Investment in subsidiary, net of cash acquired
— (1,680 )
Net cash flow used in investing activities
(48,523 ) (7,412 )
Financing activities

Repayment of loans & borrowings
(15,182 ) (11,169 )
Repayment of leases
(2,566 ) (2,841 )
Capital increase
— 85,787
Interest paid
(1,665 ) (1,652 )
Other financial income (expense)
1,378 2,740
Net cash flow from (used in) financing activities
(18,035 ) 72,865
Net increase/(decrease) of cash & cash equivalents
(42,972 ) 82,943
Cash & Cash equivalents at the beginning of the year
196,028 111,538
Exchange rate differences on cash & cash equivalents
(2,433 ) 465
Cash & cash equivalents at end of the period
150,621 194,946
Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)

for the three months ended
September 30, for the nine months ended
September 30,
In 000€ 2022 2021 (*) 2022 2021 (*)
Net profit (loss) for the period (*)
1,413 8,657 2,435 8,382
Income taxes (*)
478 75 1,377 101
Financial expenses
2,110 (2,334 ) 4,671 3,182
Financial income
(4,283 ) (1,869 ) (9,800 ) (4,426 )
Depreciation and amortization
5,378 5,314 16,194 15,240
Share in loss of joint venture
— — — —
EBITDA
5,096 9,843 14,876 22,480
Share-based compensation expense (1)
(24 ) (104 ) (121 ) (878 )
Acquisition-related expenses of business combinations (2)
— — — 405
Adjusted EBITDA
5,072 9,739 14,755 22,007

(1)
Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.
(2)
Acquisition-related expenses of business combinations represents expenses incurred in connection with the acquisition of our option to buy Link3D.
(*)
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the nine months ended September 30 income taxes and net profit is (46)k€.
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the three months ended September 30 income taxes and net profit is 5 k€.
Segment P&L (Unaudited)

In 000€ Materialise
Software Materialise
Medical Materialise
Manufacturing Total
segments Unallocated (1) Consolidated
For the three months ended September 30, 2022

Revenues
10,863 21,391 26,033 58,288 0 58,288
Segment (adj) EBITDA
202 4,765 2,530 7,497 (2,425 ) 5,072
Segment (adj) EBITDA %
1.9 % 22.3 % 9.7 % 12.9 % 8.7 %
For the three months ended September 30, 2021

Revenues
10,468 18,910 22,817 52,196 (0 ) 52,195
Segment (adj) EBITDA
3,708 5,251 3,546 12,506 (2,767 ) 9,739
Segment (adj) EBITDA %
35.4 % 27.8 % 15.5 % 24.0 % 18.7 %

In 000€ Materialise
Software Materialise
Medical Materialise
Manufacturing Total
segments Unallocated (1) Consolidated
For the nine months ended September 30, 2022

Revenues
31,989 60,592 76,739 169,319 0 169,319
Segment (adj) EBITDA
2,955 12,466 6,722 22,144 (7,388 ) 14,755
Segment (adj) EBITDA %
9.2 % 20.6 % 8.8 % 13.1 % 8.7 %
For the nine months ended September 30, 2021

Revenues
30,719 52,686 65,199 148,604 (142 ) 148,461
Segment (adj) EBITDA
10,266 14,313 5,252 29,831 (7,826 ) 22,004
Segment (adj) EBITDA %
33.4 % 27.2 % 8.1 % 20.1 % 14.8 %

(1)
Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition related expenses of business combinations, impairments and fair value of business combinations that are included in Adjusted EBITDA.
Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited)

for the three months ended
September 30, for the nine months ended
September 30,
In 000€ 2022 2021 (*) 2022 2021 (*)
Net profit (loss) for the period (*)
1,413 8,657 2,435 8,382
Income taxes (*)
478 75 1,377 101
Financial cost
2,110 (2,334 ) 4,671 3,182
Financial income
(4,283 ) (1,869 ) (9,800 ) (4,426 )
Share in loss of joint venture
— — — —
Operating (loss) profit
(282 ) 4,529 (1,318 ) 7,239
Depreciation and amortization
5,378 5,314 16,194 15,240
Corporate research and development
592 710 2,057 2,191
Corporate headquarter costs
2,491 2,463 7,103 6,907
Other operating income (expense)
(681 ) (511 ) (1,892 ) (1,745 )
Segment adjusted EBITDA
7,497 12,506 22,144 29,831

(*)
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the nine months ended September 30 income taxes and net profit is (46)k€.
The year 2021 has been restated to reflect the final accounting of the business combination with RS Print. Impact on the three months ended September 30 income taxes and net profit is 5 k€.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

MATERIALISE NV
By:
/s/ Wilfried Vancraen
Name: Wilfried Vancraen
Title: Chief Executive Officer
Date: October 27, 2022

Materialise Reports Third Quarter 2022 Results

Source: Business Wire
Materialise NV (NASDAQ:MTLS), a leading provider of additive manufacturing and medical software and of sophisticated 3D printing services, today announced its financial results for the third quarter ended September 30, 2022.

Highlights – Third Quarter 2022

Total revenue increased 11.7% to 58,288 kEUR compared to 52,195 kEUR for the third quarter of 2021.
Total deferred revenue from annual software sales and maintenance fees increased by 3,214 kEUR to 38,359 kEUR compared to December 31, 2021.
Adjusted EBITDA was 5,072 kEUR, compared to 9,739 kEUR for the 2021 period.
Net profit for the third quarter of 2022 was 1,413 kEUR, or 0.02 EUR per diluted share, compared to 8,657 kEUR, or 0.15 EUR per diluted share, for the 2021 period.
Executive Chairman Peter Leys commented, “Demand for the products and solutions of each of our three segments remained solid even in these uncertain macro-economic times. Materialise’s revenue increased by almost 12% compared to the same period last year and our deferred revenue from annual software sales and maintenance fees increased by almost 10% compared to December 31, 2021. As a result of our continued investment in our growth businesses, but also because of inflation and, in particular our increased labor costs, our Adjusted EBITDA for the quarter was 5,072 kEUR compared to 9,739 kEUR for the third quarter of 2021. Our results included operational investments in Identify3D, a developer of AM cloud security systems that we acquired on September 1, 2022.”

Third Quarter 2022 Results

Total revenue for the third quarter of 2022 increased 11.7% to 58,288 kEUR from 52,195 kEUR for the third quarter of 2021. Adjusted EBITDA amounted to 5,072 kEUR for the third quarter of 2022 compared to 9,739 kEUR for the 2021 period. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) for the third quarter of 2022 was 8.7%, compared to 18.7% for the third quarter of 2021.

Revenue from our Materialise Software segment increased 3.8% to 10,863 kEUR for the third quarter of 2022 from 10,468 kEUR for the same quarter last year. Segment EBITDA decreased, including the effect of ongoing investments in Link3D and Identify3D, to 202 kEUR from 3,708 kEUR while the segment EBITDA margin was 1.9% compared to 35.4% for the prior-year period.

Revenue from our Materialise Medical segment increased 13.1% to 21,391 kEUR for the third quarter of 2022 compared to 18,910 kEUR for the same period in 2021. Segment EBITDA amounted to 4,765 kEUR for the third quarter of 2022 compared to 5,251 kEUR while the segment EBITDA margin was 22.3% compared to 27.8% for the third quarter of 2021.

Revenue from our Materialise Manufacturing segment increased 14.1% to 26,033 kEUR for the third quarter of 2022 from 22,817 kEUR for the third quarter of 2021. Segment EBITDA amounted to 2,530 kEUR compared to 3,546 kEUR for the same period last year, while the segment EBITDA margin was 9.7% compared to 15.5% for the third quarter of 2021.

Gross profit was 32,042 kEUR compared to 31,076 kEUR for the same period last year, while gross profit as a percentage of revenue decreased to 55.0% compared to 59.5% for the third quarter of 2021.

Research and development (“R&D”), sales and marketing (“S&M”) and general and administrative (“G&A”) expenses increased, in the aggregate, 24.5% to 33,491 kEUR for the third quarter of 2022 from 26,900 kEUR for the third quarter of 2021.

Net other operating income increased to 1,166 kEUR from 355 kEUR for the third quarter of 2021.

Operating result amounted to (282) kEUR compared to 4,529 kEUR for the third quarter of 2021.

Net financial result was 2,173 kEUR compared to 4,203 kEUR for the third quarter of 2021.

The third quarter of 2022 contained income tax expenses of (478) kEUR, compared to (75) kEUR in the third quarter of 2021.

As a result of the above, net profit for the third quarter of 2022 was 1,413 kEUR, compared to 8,657 kEUR for the same period in 2021. Total comprehensive income for the third quarter of 2022, which includes exchange differences on translation of foreign operations, was 1,638 kEUR compared to 8,272 kEUR for the 2021 period.

At September 30, 2022, we had cash and cash equivalents of 150,621 kEUR compared to 196,028 kEUR at December 31, 2021. Gross debt amounted to 83,925 kEUR, compared to 99,107 kEUR at December 31, 2021. As a result, our net cash position (cash and cash equivalents less gross debt) was 66,696 kEUR, a decrease of 30,225 kEUR, and included the effect of our call option exercise to acquire 100% of the shares of Link3D, and of our acquisition of Identify3D.

Cash flow from operating activities for the third quarter of the year 2022 was 3,840 kEUR compared to 4,388 kEUR for the same period in 2021. Total capital expenditures for the third quarter of 2022 amounted to 9,441 kEUR.

Net shareholders’ equity at September 30, 2022 was 236,559 kEUR compared to 232,577 kEUR at December 31, 2021.

2022 Guidance

Mr. Leys concluded, “The revenue growth posted by each of our segments during the first nine months of this year strengthens our confidence that our full year 2022 revenues will be at least 10% higher than in 2021. While inflation and pressure on the labor market, which are higher and more persistent than we expected at the beginning of 2022, weigh on our results, we continue to make prudent investments in select growth businesses. As a result, we continue to expect that our consolidated EBITDA for the full year 2022 will be in the range of 20 mEUR to 25 mEUR.”

Non-IFRS Measures

Materialise uses EBITDA and Adjusted EBITDA as supplemental financial measures of its financial performance. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBITDA is determined by adding share-based compensation expenses, acquisition-related expenses of business combinations, impairments and revaluation of fair value due to business combinations to EBITDA. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of long-term investment and financing decisions, rather than the performance of the company’s day-to-day operations. As compared to net profit, these measures are limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the charges associated with impairments. Management evaluates such items through other financial measures such as capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBITDA and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

Exchange Rate

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 0.9748, the reference rate of the European Central Bank on September 30, 2022.

Conference Call and Webcast

Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the third quarter of 2022 on Thursday, October 27, 2022, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Wilfried Vancraen, Founder and Chief Executive Officer; Peter Leys, Executive Chairman; and Johan Albrecht, Chief Financial Officer. A question-and-answer session will follow management’s remarks.

To access the conference call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or to receive a call to connect to Materialise’s conference call.
https://register.vevent.com/register/BI66dc4a1f45c744f2ad3d85501fc27140
The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. A webcast of the conference call will be archived on the company's website for one year.

About Materialise

Materialise incorporates 30 years of 3D printing experience into a range of software solutions and 3D printing services, which form the backbone of the 3D printing industry. Materialise’s open and flexible solutions enable players in a wide variety of industries, including healthcare, automotive, aerospace, art and design, and consumer goods, to build innovative 3D printing applications that aim to make the world a better and healthier place. Headquartered in Belgium, with branches worldwide, Materialise combines one of the largest groups of software developers in the industry with one of the largest 3D printing facilities in the world. For additional information, please visit: www.materialise.com.

Thanks WB.

Right back at ya

May 2023 be kind(er) to all.

I am picking this to be my winner for the year.
HFNY Dad. Wishing you the best.

MTLS$ 3d-printing..one day print anything, da moon...