Materialise (MTLS) Q2 2024 earnings summary

Executive summary

• Achieved record Q2 2024 revenue of €68.8 million, up 6.2% year-over-year, with growth in all business segments.

• Net profit reached €3.9 million, or €0.07 per diluted share, reversing a net loss in Q2 2023.

• Adjusted EBIT improved to €3.9 million (5.6% margin), and adjusted EBITDA rose to €9.2 million.

• Net cash position increased to €67.5 million, up €4.3 million since year-end 2023.

• Strategic milestones included the acquisition of FEops and a partnership with nTop to enhance 3D printing and medical capabilities.

Financial highlights

• Gross profit margin was 57.0%, stable year-over-year, with gross profit at €39.2 million.

• Adjusted EBIT improved to €3.9 million from a loss last year; adjusted EBITDA rose to €9.2 million from €4.8 million.

• Cash and equivalents stood at €125.5 million, with borrowings reduced to €58.0 million.

• Operating cash flow for Q2 2024 was €8.4 million; capital expenditures totaled €8.5 million.

• Net shareholders' equity increased to €243.1 million from €236.6 million at December 31, 2023.

Outlook and guidance

• Full-year 2024 revenue expected in the €265–275 million range.

• Adjusted EBIT guidance maintained at €11–14 million, despite integration costs from the FEops acquisition.