Monitor Q4 2026 results for execution on the reaffirmed guidance range and whether Medical segment growth can offset Software and Manufacturing headwinds. The net cash build and ongoing buyback provide downside support, but margin compression from higher R&D spend warrants attention.
Price Chart
Executive Summary
Materialise reported Q3 2026 total revenue of EUR 67.7M, up 2.1% YoY (4.9% excluding divestitures), but net profit declined to EUR 1.4M from EUR 1.8M a year ago. Adjusted EBIT fell to EUR 2.5M from EUR 2.9M, and the company reaffirmed its full-year 2026 revenue guidance of EUR 273-283M and Adjusted EBIT guidance of EUR 12-14M. The Medical segment grew 9.7% YoY, while Software revenue declined 4.1% and Manufacturing revenue fell 6.2% (up 1.5% adjusted for divestitures).
Key Financial Metrics
Key Facts
- Total revenue EUR 67,670k in Q3 2026 vs EUR 66,259k in Q3 2025, up 2.1% (4.9% excluding divestitures)
- Net profit EUR 1,383k (EUR 0.02 diluted EPS) vs EUR 1,848k (EUR 0.03) in Q3 2025
- Adjusted EBITDA EUR 8,046k vs EUR 8,428k in Q3 2025
- Adjusted EBIT EUR 2,485k vs EUR 2,918k in Q3 2025
- Medical segment revenue up 9.7% to EUR 36,542k; Software segment down 4.1% to EUR 9,864k; Manufacturing segment down 6.2% to EUR 21,266k (up 1.5% adjusted for divestitures)
- Full-year 2026 revenue guidance reaffirmed at EUR 273,000k to EUR 283,000k
- Full-year 2026 Adjusted EBIT guidance reaffirmed at EUR 12,000k to EUR 14,000k
- Net cash position EUR 82,473k, up EUR 11,668k from Dec 31, 2025
- EUR 2,277k invested in share buybacks during Q3 2026
- Operating cash flow EUR 9,666k in Q3 2026 vs EUR 10,359k in Q3 2025
Financial Impact
Revenue growth of 2.1% YoY (4.9% ex-divestitures) but net profit down 25% and Adjusted EBIT down 15%. Guidance unchanged.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Materialise Medical | $36.5M | +9.7% |
| Materialise Software | $9.9M | -4.1% |
| Materialise Manufacturing | $21.3M | -6.2% |
Risk Factors
- Software segment revenue declining 4.1% YoY with margin compression from 17.5% to 14.8%
- Manufacturing segment revenue down 6.2% reported (up 1.5% adjusted) with negative segment EBITDA
- Operating profit fell to EUR 1,343k from EUR 2,522k, a 47% decline
- R&D expenses increased 11.9% YoY, pressuring near-term profitability
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-119657 |
| Document: tm2628474d1_6k.htm | 0001104659-26-119657 |
| Document: 0001104659-26-119657-index-headers.html | 0001104659-26-119657 |
| Document: 0001104659-26-119657-index.html | 0001104659-26-119657 |
| Document: 0001104659-26-119657.txt | 0001104659-26-119657 |
| 6-K Earnings Context (Synthetic) | 0001104659-26-119657 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 1d ago | 6-K | No price | awaiting T+20 | awaiting T+20 | No price |
Oct 28, 2026 2d ago | 6-K | $7.24 | awaiting T+20 | awaiting T+20 | $7.18 (−0.83%) |
Oct 26, 2026 4d ago | 6-K | $8.62 | awaiting T+20 | awaiting T+20 | $7.18 (−16.71%) |
Oct 19, 2026 11d ago | 6-K | $8.21 | awaiting T+20 | awaiting T+20 | $7.18 (−12.55%) |
Oct 13, 2026 17d ago | 6-K | $8.13 | awaiting T+20 | awaiting T+20 | $7.18 (−11.69%) |
Oct 5, 2026 25d ago | 6-K | $8.56 | awaiting T+20 | awaiting T+20 | $7.18 (−16.12%) |
Sep 8, 2026 7w ago | 6-K | $7.46 $8.50 | ▲ +13.94% | ▲ +11.74% | $7.18 (−3.75%) |
Aug 28, 2026 9w ago | 6-K | $7.21 $8.75 | ▲ +21.36% | ▲ +21.73% | $7.18 (−0.42%) |
Jul 20, 2026 14w ago | 6-K | $6.60 $6.69 | ▲ +1.36% | ▼ −1.20% | $7.18 (+8.79%) |
Jul 13, 2026 15w ago | 6-K | $6.77 $6.87 | ▲ +1.48% | ▼ −1.01% | $7.18 (+6.06%) |
US Market Status
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