MTLS · Materialise N.V.

Materialise NV delivered stable Q1 2026 revenue of 66,276 kEUR despite geopolitical uncertainty and unfavorable FX impacts, as noted by CEO Brigitte de Vet-Veithen, with growth in the Medical segment at 6.7% to 33,165 kEUR offsetting declines in Software (-1.4%) and Manufacturing (-8.1%). Profitability improved markedly across all segments, driven by operational focus and cost control: gross margin expanded to 57.2% from 55.3%, Adjusted EBIT margin to 3.7% from 1.0%, and segment Adjusted EBITDA margins strengthened notably in Software (11.6% vs 6.1%) and Manufacturing (1.2% vs -1.5%). R&D, S&M, and G&A expenses held steady at 36,713 kEUR, while higher net other operating income of 909 kEUR and improved net financial result of 392 kEUR contributed to net profit of 1,820 kEUR. Balance sheet strength enhanced with net cash rising to 72,826 kEUR, supported by positive free cash flow and 2,308 kEUR in share buybacks. Strategically, following the Rapidfit sale, the eyewear business transfer to management aligns with portfolio sharpening on core areas, with Materialise retaining a minority stake; expected Q2 impairment charges noted but financial terms undisclosed. Full-year guidance reaffirmed at 273-283 million EUR revenue and 10-12 million EUR Adjusted EBIT, signaling confidence amid macro challenges through execution discipline.