Materialise (MTLS) Q2 2025 earnings summary

Executive summary

• Celebrated 35th anniversary, highlighting long-term growth and leadership in additive manufacturing, and expanded medical reach through collaboration with Johnson & Johnson and regulatory clearance for Surgicase Knee Planner features.

• Strategic focus on the medical segment, with strong progress in both existing and new markets, including a pilot collaboration with Johnson & Johnson in respiratory surgery.

• Continued investment in R&D and innovation, especially in medical and software segments.

• Broader engagement in the defense sector and restructuring in Manufacturing to address market headwinds.

Financial highlights

• Q2 2025 consolidated revenue declined 5.8% year-over-year to €64.8 million; gross profit margin improved to 58.3% from 57% in Q2 2024.

• Adjusted EBIT for Q2 2025 was €3.1 million (4.7% margin), down from €3.9 million last year, but up sequentially from €0.6 million in Q1 2025.

• Adjusted EBITDA for Q2 2025 was €8.3 million (12.8% margin), down from €9.2 million last year.

• Net profit for Q2 2025 was €0.2 million, with diluted EPS at €0.00, despite a €3.3 million negative FX impact.

• Net cash position at quarter-end was €63 million, up €2 million since the start of the year.

Outlook and guidance

• Revenue guidance for FY2025 reduced to €265–280 million due to ongoing macroeconomic and FX headwinds.

• Adjusted EBIT guidance for FY2025 reaffirmed at €6–10 million.

• Management expects continued growth in the medical segment and ongoing cost discipline to safeguard profitability.