The EPS miss and declining profitability despite modest revenue growth suggest margin pressure from rising R&D costs and weak Software/Manufacturing segments. Watch for any guidance update on the next earnings call and whether Medical growth can offset the drag from the other two segments.
Price Chart
Executive Summary
Materialise reported Q3 2026 revenue of EUR 67.7M (+2.1% YoY) and net profit of EUR 1.4M, down 25% from EUR 1.8M a year ago. The Medical segment grew 9.7% but Software and Manufacturing declined, while operating profit fell to EUR 1.3M from EUR 2.5M. The company's US-listed ADS EPS of $0.02 (per the filing's diluted EPS of EUR 0.02) is below the consensus estimate of $0.07, representing a miss.
Key Financial Metrics
Key Facts
- Total revenue EUR 67.7M, up 2.1% YoY from EUR 66.3M
- Net profit EUR 1.4M, down 25% from EUR 1.8M in Q3 2025
- Operating profit EUR 1.3M, down 47% from EUR 2.5M
- Medical segment revenue +9.7% to EUR 36.5M; Software -4.1% to EUR 9.9M; Manufacturing -6.2% to EUR 21.3M
- Adjusted EBITDA EUR 8.0M, down 4.5% from EUR 8.4M
- Adjusted EBIT margin 3.7% vs 4.4% a year ago
- GAAP diluted EPS EUR 0.02 (approx USD 0.02 per ADS), consensus was USD 0.07
- Cash and equivalents EUR 153.5M, net cash position EUR 82.5M
- Share buyback of 1.4M shares for EUR 7.5M completed during Q3
Financial Impact
Net profit declined 25% YoY; operating profit fell 47%; EPS miss vs consensus of $0.07
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 and Manufacturing segments both declining YoY, offsetting Medical growth
- Operating expenses growing faster than revenue (7.8% vs 2.1%), compressing margins
- Non-recurring charges from Eyewear asset transfer and impairments
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-119788 |
| Document: 0001104659-26-119788-index-headers.html | 0001104659-26-119788 |
| Document: 0001104659-26-119788-index.html | 0001104659-26-119788 |
| Document: 0001104659-26-119788.txt | 0001104659-26-119788 |
| Earnings Context (Synthetic; results releases only) | 0001104659-26-119788 |
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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