Materialise Expands Global Reach via Dual Listing and Metal 3D-Printing Consortium
The primary development during the period was the dual listing of Materialise shares on Euronext Brussels, supplementing its presence on the Nasdaq for over a decade. Following this listing, the company initiated a share buyback program authorized for up to €30 million. Operationally, the company merged its iMaterialise and Onsite units to consolidate its position in the professional 3D printing market and entered a consortium with Boeing to advance metal 3D-printed aircraft components.
Medical Segment Growth Offsets Manufacturing Declines in 2025 Fiscal Year
Consolidated full-year 2025 revenue reached €267.6 million, remaining stable with a 0.3% increase over 2024 despite unfavorable foreign exchange impacts. Quarterly gross profit reached €40.8 million, representing a margin of 58.1% of revenue, compared to 55.4% in the year-ago quarter.
Segment performance was led by the Medical division, which reported record quarterly revenue of €37.0 million, a 16% increase driven by direct and partner sales of personalized devices. The Software segment reported stable quarterly revenue of €11.0 million, with recurring revenue accounting for 80% of the total. The Manufacturing segment saw a 2.4% revenue decline to €22.2 million as growth in strategic markets was offset by a continued reduction in prototyping demand. The company concluded the fiscal year with a net cash position of €70.8 million.
Financial Guidance and Capital Allocation Strategy for 2026
Management issued financial guidance for fiscal year 2026, projecting consolidated revenue between €273 million and €283 million. Adjusted EBIT is expected to range from €10 million to €12 million. The company’s stated strategy involves transitioning its software offerings into an integrated ecosystem through the CO-AM platform and scaling its medical solutions, which have now reached over 700,000 delivered devices. Capital allocation priorities include continued research and development investment alongside disciplined cost control.
Sectoral Growth and Macroeconomic Challenges
Materialise’s performance reflects a divergence between high-growth verticals and broader industrial markets. While the company achieved growth in healthcare, aerospace, and defense, its Manufacturing segment remains impacted by persistent macroeconomic headwinds affecting the prototyping sector. Management anticipates these industrial headwinds will persist into 2026, leading to varied growth rates across its three primary business segments.