Materialise (MTLS) Q4 2025 earnings summary

Executive summary

• Achieved dual listing on Euronext Brussels alongside Nasdaq, expanding the investor base and operational flexibility, and launched a share buyback program up to EUR 30 million.

• Surpassed 700,000 patients treated with personalized medical solutions, with over 70,000 treated in 2025.

• Advanced in healthcare, aerospace, and defense with new software launches, workflow automation, and major contracts including Boeing and Eurodrone.

• Consolidated online manufacturing platforms to focus on professional 3D printing and series production.

• Euronext Tech Leaders 2025 Listing Award and non-recurring costs of EUR 0.75 million related to the listing.

Financial highlights

• Q4 2025 revenue grew 6.8% year-over-year to EUR 70.2 million; full-year revenue was stable at EUR 268 million.

• Q4 gross profit margin was 58.1% (EUR 40.8 million); full-year gross margin 57.1%.

• Q4 adjusted EBITDA more than doubled to EUR 9.5 million (13.6% margin); full-year adjusted EBITDA was EUR 32.4 million (12.1% margin).

• Q4 adjusted EBIT was EUR 4 million (5.7% margin); full-year adjusted EBIT was EUR 10.6 million (4.0% margin).

• Net cash position at year-end was EUR 70.8 million, with cash reserves of EUR 134 million and gross debt of EUR 63.1 million.

Outlook and guidance

• 2026 revenue expected between EUR 273 million and EUR 283 million.

• Adjusted EBIT guidance for 2026 is EUR 10 million–EUR 12 million.

• Medical segment to continue double-digit growth; software to complete cloud-based subscription transition; manufacturing to focus on series production amid macroeconomic headwinds.

• Continued investment in medical and software, with disciplined cost control in manufacturing and overhead.

• Actively pursuing strategic M&A opportunities.