Materialise (MTLS) Q1 2026 earnings summary

Executive summary

• Divested RapidFit and Eyewear businesses to management teams, retaining a minority stake in Eyewear and transferring all employees, sharpening focus on core activities.

• Expanded medical portfolio with custom-made PEEK implants and launched OrthoView 3D Hip for advanced surgical planning.

• Introduced CO-AM Professional, a cloud-based software for 3D printing, and deepened partnership with HP for the MJF 1200 printer.

• Published first annual report post-Euronext listing and completed CSRD sustainability reporting, highlighting sustainability progress.

• Achieved significant sustainability milestones, including a reduction of over 1,500 tons of CO2 and increased use of renewable energy.

Financial highlights

• Q1 2026 revenue was EUR 66.3 million, stable year-over-year despite FX headwinds.

• Gross profit rose to EUR 37.9 million, with gross margin expanding to 57.2% from 55.3% last year.

• Adjusted EBIT improved to EUR 2.5 million (3.7% margin), and net profit reached EUR 1.8 million (EUR 0.03 per share).

• Free cash flow was EUR 5.7 million, increasing net cash position to EUR 72.8 million.

• Cash and cash equivalents stood at EUR 133 million, with gross debt reduced to EUR 60.1 million.

Outlook and guidance

• Reaffirmed full-year 2026 revenue guidance of EUR 273–283 million and adjusted EBIT of EUR 10–12 million, despite divestments.

• Expect continued macroeconomic and geopolitical uncertainty but anticipate improved operational performance and profitable growth.

• Manufacturing EBITDA expected to be positive for full year 2026.