Materialise (MTLS) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue grew 4.3% year-over-year to EUR 66.4 million, led by nearly 19% growth in the Medical segment, despite challenging macroeconomic and geopolitical conditions.

• Net loss was EUR 0.5 million, or (0.01) per share, mainly due to negative FX impacts, compared to a net profit in Q1 2024.

• Sustainability efforts resulted in a 32% reduction in emissions since 2019, with a 3% reduction from 2023.

• New product launches, clinical trials for bioresorbable implants, and strategic partnerships highlighted ongoing innovation in medical and software divisions.

• Deferred revenues from software maintenance and license fees increased to EUR 48.9 million.

Financial highlights

• Adjusted EBIT was EUR 0.6 million (1% margin), down from EUR 2.7 million year-over-year; Adjusted EBITDA was EUR 6.1 million, down from EUR 8.1 million.

• Gross profit margin was 55.3%, down from 56.5% year-over-year.

• Cash and equivalents increased to EUR 104.2 million; net cash position rose to EUR 67.7 million.

• Gross debt reduced to EUR 36.4 million.

• Positive free cash flow of EUR 8 million generated in the quarter.

Outlook and guidance

• Full-year 2025 revenue expected in the EUR 270–285 million range; adjusted EBIT guidance maintained at EUR 6–10 million.

• Q2 anticipated to be challenging with flattish top line and bottom line pressure; stabilization expected in the second half of 2025.