EarningsQ3 2026 Earnings Report
MX:MTLSN Q3 2026 EPS Results
Actual EPS$0.42
Consensus EPS$0.42
Beat/MissMet expectations
One Year Ago EPS$0.62
MX:MTLSN Q3 2026 Revenue Results
Actual Revenue$1.45B
Expected Revenue$1.44B
Beat/MissBeat by +$17.07M
YoY Revenue Growth+0.55%
Earnings Announcement Details
QuarterQ3 2026
Date10/28/2026
TimeBefore Open
Conference CallWednesday, October 28, 2026
MX:MTLSN Upcoming Earnings
Materialise's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:MTLSN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Medical revenue grew nearly 10%, core manufacturing series production increased more than 30%, Phits Dynaprint volumes tripled sequentially, cash generation remained strong, and full-year revenue and Adjusted EBIT guidance was reaffirmed. The main challenges were declining software revenue amid cautious customer spending and extended sales cycles, softer prototyping demand, higher R&D and operating expenses, and a relatively low third-quarter Adjusted EBIT margin.Company Guidance
Consolidated Revenue Growth
Third-quarter consolidated revenue increased by more than 2% year-over-year to EUR 67.7 million. Excluding the impact of recent divestitures, revenue increased by almost 5%.
Medical Segment Momentum
Medical revenue increased by nearly 10% year-over-year in the third quarter, with medical devices and medical software sales each increasing around 10%. Medical represented 54% of total quarterly revenue. For the first nine months, medical revenue reached EUR 106.6 million, up nearly 10%, while Adjusted EBITDA was EUR 30.8 million at a 29% margin.
Medical Product Expansion and Clinical Partnerships
Materialise signed an agreement with the Superhumans Center in Ukraine to support hundreds of patients and war victims with patient-specific solutions and standard plates, while also providing access to its software ecosystem and specialist training at medical universities in Kyiv and Lviv. The company launched ready-to-use sterile packaging and the next version of Mimics Enlight CMF, expanded Mimics Cardiac with an AI-powered workflow for transcatheter aortic valve-in-valve procedures, and introduced a dedicated liver resection planning and intraoperative support workflow.
Strong Series Manufacturing Growth
Core manufacturing series-production revenue grew by more than 30% year-over-year in the third quarter, driven by demand from the aerospace, semiconductor, and defense industries. Management said the company is approaching a relatively balanced situation between series manufacturing and prototyping activities, while aerospace and defense, semiconductor, general industries, and the broader transportation sector contributed to growth.
Manufacturing Improvement Excluding Divestitures
Manufacturing revenue declined 6% year-over-year to EUR 21.3 million, but increased 1.5% excluding recent divestitures. Adjusted EBITDA improved to a loss of EUR 0.3 million from a loss of EUR 0.8 million in the prior year, supported by cost discipline and portfolio optimization. For the first nine months, manufacturing revenue declined nearly 3% to EUR 68.3 million, or increased 4% excluding divestitures, with Adjusted EBITDA near breakeven at a small loss of EUR 0.3 million.
CO-AM Commercial and Platform Progress
Materialise closed strategic CO-AM NPI deals with leading customers, particularly in aerospace, and integrated CO-AM Brix with Identify3D. The integration enables protection, traceability, and user-rights management at the individual-part level, including when parts from different owners are produced in the same build. The company also planned demonstrations of its open CO-AM ecosystem and secure distributed production capabilities at Formnext and related events.
Phits Dynaprint Adoption Accelerating
Phits Dynaprint, an affordable orthotic solution launched in the U.S. to a limited set of centers, received very positive customer feedback. Volumes doubled in the U.K. and Ireland, where it was first launched, and total volumes tripled versus the second quarter following the North American expansion.
Improved Gross Margin and Year-to-Date Profitability
Gross profit increased to EUR 39 million and gross margin rose 90 basis points year-over-year to 57.7%. Third-quarter Adjusted EBITDA was EUR 8 million at an 11.9% margin, while year-to-date Adjusted EBITDA increased 12% to EUR 25.7 million and year-to-date Adjusted EBIT increased 33% to EUR 8.8 million.
Strong Cash Generation and Net Cash Position
Net cash increased by almost EUR 12 million from the start of the year to EUR 82.5 million, supported by strong operating cash flow. Third-quarter operating cash flow was nearly EUR 10 million, cash flow after investing activities was EUR 11.4 million including EUR 4 million of government grants related to prior capital investments, and first-nine-month free cash flow was EUR 22.8 million, more than double the prior-year level.
Share Buyback and Balance Sheet Resources
Materialise invested EUR 7.5 million in its share buyback program during the first nine months, acquiring close to 1.5 million ADSs, representing 2.4% of the total share base as of September 30, 2026. The company ended the quarter with EUR 153.5 million of cash and EUR 82.5 million of net cash.
Additional Additive Manufacturing Capacity
The company invested in additional metal additive manufacturing capabilities to enable faster production of larger metal components, particularly for demanding defense applications. The investment will also support research into software-based quality assurance and contribute to the European SOMUSA project focused on quality assurance for metal 3D-printed aerospace components.
Full-Year Guidance Reaffirmed
Management reaffirmed full-year 2026 revenue guidance of EUR 273 million to 283 million, fully absorbing the unfavorable revenue impact of the RapidFit and Eyewear divestitures. Adjusted EBIT guidance of EUR 12 million to 14 million was also reaffirmed, reflecting continued cost and capital discipline alongside increased R&D investments.
MX:MTLSN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed