See the addendum to this text for an replace from October 30, 2025.
Materialise (Nasdaq: MTLS) reported its third-quarter 2025 outcomes, remaining worthwhile with constructive money stream regardless of weaker efficiency in its manufacturing division. For the third time this yr, the corporate’s Medical phase led outcomes, setting a brand new quarterly income document and serving to offset slower industrial demand. To this point, 2025 has been a yr outlined by regular medical development, pointing to Materialise’s power in 3D printed healthcare options and demand for its software program and patient-specific gadgets.
Materialise Mimics Move case administration. Picture courtesy of Materialise.
Whole income for the quarter reached €66.3 million ($77.3 million), down 3.5% from the identical interval in 2024. Whereas general gross sales declined, Materialise nonetheless posted a constructive web revenue of €1.8 million ($2 million), or three cents per share, and stored gross margins steady at 56.8%. The corporate continues to show stable value management and environment friendly operations throughout a difficult yr for the 3D printing business as a complete.
CEO Brigitte de Vet-Veithen mentioned she was pleased with the corporate’s continued resilience: “Our Materialise Medical phase posted a quarterly income document, rising by greater than 10% in comparison with the identical interval in 2024, whereas macro-economic headwinds continued to impression our consolidated income, and, particularly, our Materialise Manufacturing phase. We additional applied focused value management measures designed to guard our operational profitability with out compromising on our continued R&D investments to drive future development.”
Brigitte de Vet-Veithen from Materialise speaks at AMS 2025. Picture courtesy of 3DPrint.com
Materialise’s Medical phase had one of the best outcomes. It grew 10.3% yr over yr to €33.3 million ($38.8 million), setting a brand new document. This division, which incorporates personalised implants, surgical planning, and medical software program, now represents half of Materialise’s complete income. Adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) rose to €10.2 million ($11.9 million), exhibiting continued profitability at the same time as the corporate expanded R&D funding on this space.
In the meantime, the Software program phase, which supplies design and manufacturing instruments used throughout the additive business, reported €10.3 million ($12 million) in income, down 7.4% from final yr. Nevertheless, the largest slowdown got here from Materialise Manufacturing, the place income dropped 17.1% to €22.7 million ($26.5 million). The division posted a lack of €800,000 (≈$932,000), in comparison with a small revenue a yr earlier. The corporate cited continued macroeconomic pressures and a slower restoration in industrial demand, particularly in Europe, the place many purchasers have delayed capital spending.
The truth is, if we take a look at latest knowledge from the European Central Financial institution and the European Metal Affiliation, they’re amongst many that time to the identical development, with “weak manufacturing circumstances” and “subdued funding exercise” throughout the area within the third quarter of 2025. And banks even cited “international uncertainty and commerce tensions” as a dampening issue.
Materialise creates liver digital twins. Picture courtesy of Materialise.
Though revenue was decrease, the corporate ended the quarter with more money, signal for liquidity. On the finish of September, Materialise held €132 million ($153.8 million) in money and money equivalents, up from €102 million ($118.9 million) on the finish of 2024. Its web money place rose to €67.7 million ($78.9 million), a €6.7 million ($7.8 million) improve since December, supported by the robust working money stream of €10.4 million ($12 million).
Gross revenue got here in at €37.7 million ($43.9 million), solely barely beneath final yr, pointing to steady value administration. R&D spending rose 4.2%, primarily pushed by new medical applications, whereas general working bills elevated solely 0.5%.
Certainly, Materialise continues to speculate closely in R&D, particularly inside its medical and software program platforms. These investments embody creating superior surgical planning instruments, enhancing simulation software program, and increasing automation in digital manufacturing workflows.
The corporate continues to concentrate on data-driven 3D printing. Whereas manufacturing stays weak, Materialise expects its ongoing investments to assist development as soon as markets stabilize.
De Vet-Veithen identified, “As we method the tip of 2025, geopolitical volatility and macro-economic uncertainty proceed to impression the enterprise surroundings by which we function. We stay assured that our enterprise is stable and resilient, and that Materialise is strongly positioned to seize development alternatives as soon as market circumstances enhance.”
Materialise CEO Brigitte de Vet-Veithen at Additive Manufacturing Methods 2024. Picture courtesy of 3DPrint.com.
Materialise reaffirmed its full-year steerage, anticipating complete income between €265 million ($308.8 million) and €280 million ($326 million) and adjusted EBIT between €6 million ($7 million) and €10 million ($11.7 million). The forecast suggests the corporate expects income to stay steady via the tip of the yr, supported by regular medical demand and price management.
Replace October 30, 2025:
After releasing its Q3 outcomes earlier this week, Materialise introduced plans to launch an extra itemizing on the Euronext Brussels trade, alongside its current Nasdaq itemizing, and to provoke a possible €30 million ($34.7 million) ADS buyback program. The twin itemizing is meant to increase the corporate’s investor base, improve liquidity, and strengthen ties to its Belgian roots whereas sustaining its U.S. presence. The itemizing on Euronext Brussels is anticipated round November 20, 2025, following regulatory approvals, whereas the buyback program (already authorised by the Board) will start after shareholder authorization on November 14, 2025, with repurchases anticipated to begin by January 2026. The transfer may assist Materialise entice extra European buyers, make it simpler for shareholders to commerce its inventory, and sign that the corporate feels steady and prepared for 2026.
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