MTLS

Image source: The Motley Fool. Thursday, Aug. 27, 2026 at 8:30 a.m. ET Chief Executive Officer - Brigitte de Vet-Veithen Chief Financial Officer - Koen Berges Operator: Good day, and welcome to the Second Quarter and Half Year 2026 Materialise NV Financial Results Conference Call. [Operator Instructions] Please note, this call may be recorded. I would now like to turn the call over to Jody Burfening, Alliance Advisors Investor Relations. Please go ahead. Jody Burfening: Thank you, Michelle, and thank you, everyone, for joining us today for Materialise's quarterly conference call. With us on the call are Brigitte de Vet-Veithen, Chief Executive Officer; and Koen Berges, Chief Financial Officer. Today's call and webcast are being accompanied by a slide presentation that reviews Materialise's strategic financial and operational performance for the second quarter and first half of 2026. To access the slides, if you have not already done so, please go to the Investor Relations section of the company's website at www.materialise.com. The earnings press release that was issued earlier today can also be found on that page. Before we get started, I'd like to remind you that management may make forward-looking statements regarding the company's plans, expectations and growth prospects, among other things. These forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from the expectations expressed, including competitive dynamics and industry change. Any forward-looking statements, including those related to the company's future results and activities, represent management's estimates as of today and should not be relied upon as representing their estimates as of any subsequent day. Management disclaims any duty to update or revise any forward-looking statements to reflect future events or changes in expectations. A more detailed description of the risks and uncertainties and other factors that may impact the company's future business or financial results can be found in the company's most recent report on Form 20-F filed with the SEC. Finally, management will discuss certain non-IFRS measures on today's conference call. A reconciliation table is contained in the earnings release and at the end of the slide presentation. With that, I would now like to turn the call over to Brigitte. Good morning, Brigitte. Brigitte de Vet-Veithen: Good morning, and good afternoon. Thank you, everyone, for joining us today. You can find the agenda for our call on Slide 3. First, I will summarize the business highlights for the second quarter of 2026. Then I will pass the floor to Koen, who will take you through the second quarter and half year financials. Finally, I will come back and explain what we expect the remaining months of 2026 to bring. When we've completed our prepared remarks, we'll be happy to respond to questions. Moving to Slide 4 for the highlights of the second quarter 2026. I'd like to open by drawing your attention to our first half year report now available on our Investor Relations website. This report reflects our compliance with the European reporting requirements, requirements that, as announced in our first quarter earnings call, led us to deliberately schedule this second quarter earnings release later in the quarter. I'm also pleased to announce some changes in our Executive Committee, taking place as of early September. Those changes will further strengthen our leadership team and strategy execution. Annelies Missotten will join us as Chief Human Resource Officer to further strengthen our human resource agenda. Annelies brings more than 30 years of international HR leadership experience with a strong record in shaping people and organization strategies that support business growth, transformation and employee engagement. Throughout her career, she has worked primarily in the life science sector as well as in telecom and fast-moving consumer goods in both Belgium and international environments. Most recently, Annelies served as CHRO of Galapagos, now Lakefront Biotherapeutics, where she acted as a strategic adviser to the CEO and Executive Committee and led the HR function across all disciplines in an international sector. She plays an important role in supporting the company through periods of growth, transformation and organizational change while also strengthening HR as a strategic partner to the business. She brings a wealth of experience, strong energy and a people-centered leadership style that will help us further our people agenda across the organization. Second, Philippe Verlinde will join us in the newly created role as Chief Digital and Information Officer. This new role reflects the strategic importance of digital capabilities to simplify, scale and execute more effectively. Philippe brings more than 35 years of experience in technology, digital and transformation leadership. He spent 26 years at Philips and most recently, he served as the Chief Digital and Information Officer at Barco, where he led IT and software across the global footprint. Throughout his career, he led large-scale technology, product and digital transformation initiatives across engineering, consumer electronics and health care technology. He brings deep experience in cloud and connected platform capabilities as well as AI to further drive our digital agenda across our units and markets. We are also making a leadership change in medical. Our medical unit is delivering strong results as evidenced by the strong growth this quarter. In addition, we see significant opportunities ahead. To fully capitalize on these opportunities, we have decided to look for a new leader for the Medical segment, and Koen Peters will leave the company in September. The second quarter also marked the 30th anniversary of Materialise in the United States, a market that has been central to our growth strategy from the beginning. Over the years, we made several strategic acquisitions in the U.S., including OrthoView, the market leader in orthopedic digital preoperative planning software, Link3D, an additive workflow and digital manufacturing software company; and Identify3D, a company that develops software to interact, distribute and trace the flow of digital parts across complex supply chains. Today, we are one of the leading players globally, and our U.S. office and team have been very instrumental in our global success. Looking now further at our business segment highlights at the second quarter on Slide 5, starting with Medical. In the second quarter, we saw further evidence of the growing maturity of personalized care and 3D printing during the eighth edition of our 3D Planning and Printing Hospital Forum in Leuven. Where we welcomed around 200 surgeons, radiologists, clinical engineers from hospitals across Europe and beyond to discuss the use of 3D printing in the hospital. What stood out in this year's discussion was the clear shift from what is the value of personalized 3D solutions to how can we scale this in clinical practice. The continued rise of in-house hospital 3D labs is evidence that 3D printing is becoming more established and operational. Now the discussions also confirmed that Materialise is at the center of this trend, not only as a software and service provider, but as a long-term partner, helping hospitals integrate personalized care more broadly into daily practice. In the second quarter, we also announced an investment in Replasia, a Belgian med tech start-up developing personalized 3D printing solutions and anatomical analysis software for hip preservation. Our goal is more personalized, less invasive orthopedic treatments that help patients maintain their natural anatomy and their quality of life for as long as possible. Our current hip portfolio is focused on replacement. Strategically, the investment in Replasia strengthens our position across the full spectrum of personalized hip care and complements our existing portfolio to hip preservation solutions. Preservation will play an important role as the market shifts towards less invasive approaches. A similar shift to less invasive approaches is happening in markets outside of orthopedics. One example in CMF, cranio-maxillofacial is Minimally Invasive Orthognathic Surgery or MIOS, a technique that allows surgeons to perform jaw surgery through smaller incisions. Smaller incisions mean that more patients will opt for surgery. At the same time, smaller incisions require a high level of precision during the surgery, and that is an area where Materialise is well positioned with our software and device portfolio. A strong proof point of our position was the International MIOS meeting in Brazil in June, which brought together more than 200 maxillofacial experts from 13 countries and where we train surgeons in hands-on cadaver labs to perform the surgery in a safe and effective way. Turning now to Software. In the second quarter, we officially released CO-AM Pro to the market on May 15, 1 month ahead of schedule. CO-AM Pro is our cloud-based solution integrated with Magics that brings AM data management and build preparation together in one workflow, making it easier for teams to collaborate, standardize processes and automate recurring tasks. It centralizes AM data, giving users one source of the truth of the data across teams. We also formally released the CO-AM Bricks offering, our automation platform that helps users reduce manual work, for example, in the new product introduction process and helps embed AM know-how more easily into their daily operations. Early customer onboarding since launch gives us encouraging initial validation of the offering. In addition, we have started the early adopter programs of CO-AM NPI and CO-AM Enterprise. Together, these steps mark the structural expansion of our Magics installed base into a connected platform that grows with customers over time. Turning to Manufacturing now. Following the agreements we announced at the end of the first quarter, we completed the transfer of our RapidFit business to its management team on April 30 and the transfer of our Eyewear business on July 1. With these closings, both businesses now continue independently under the existing leadership with greater focus and flexibility to pursue the next phase of growth. For Materialise, these completed transactions are an important step in sharpening our portfolio and concentrating capital, resources and leadership attention on the business lines with the strongest long-term scaling potential. In the case of Eyewear, we retain a 20% minority stake, reflecting our continued confidence in the business. Looking at the second quarter results in Manufacturing, Aerospace remains a strong growth area for us with 40% revenue growth realized in the second quarter. This reflects our strong position in this space. A good example of our capabilities is a recent project with Lufthansa Technik. The project involved a small part in an aircraft cabin component that repeatedly failed in service and could not be sourced individually, meaning the entire assembly had to be replaced each time. By redesigning that part for additive manufacturing and producing it as a certified stand-alone component, Lufthansa Technik was able to turn a costly recurring replacement into a faster and significantly more cost-effective repair. Following this project, Materialise was named an official workbench for Lufthansa Technik metal parts, an important proof point of the trust we have built in certified aerospace production. Also in the second quarter, we continued to build momentum in the defense market. Additive manufacturing can provide real value in defense by enabling spare parts and critical components to be produced closer to where they are needed, reducing dependence on vulnerable supply chains. With our combination of software and manufacturing capabilities, Materialise is well positioned to support that shift. In the second quarter, the Belgian Cyber Force and the Royal Higher Institute for Defense selected Materialise to lead a research consortium with Sirus and Innocom called Strike IP. The project focuses on secure and reliable digital manufacturing of spare parts, ensuring that digital files remain protected throughout the production process. Our Identify3D and CO-AM technology will be instrumental in this project to build trust in additive manufacturing for mission-critical environments like defense and help make digital supply chains more resilient. Turning over to Koen now, who will present the financial results. Koen Berges: Thank you, Brigitte. Good morning or good afternoon to all of you on this call. I will begin with a brief overview of our key financial results for Q2 of 2026, shown on Slide 6. In the second quarter, we delivered broad-based growth across the business with consolidated revenue growing by more than 8% year-on-year to EUR 70.1 million. Gross profit increased to EUR 39.8 million, resulting in a gross margin of 56.8%. Importantly, profitability continued to scale faster than revenue with adjusted EBIT reaching now EUR 3.9 million and our adjusted EBIT margin expanding to 5.5%, reflecting stronger operating leverage across our business. Net profit for the quarter amounted to EUR 3.3 million or EUR 0.06 per share. Our balance sheet and cash generation remain key strategic strengths, giving us the flexibility to invest for future growth. Supported by strong operating cash flow and continued debt reduction, we increased our net cash position to EUR 74.2 million, up EUR 3.4 million compared to the start of the year. We also continued our share buyback program, investing EUR 5.2 million during the first half of 2026. I will now walk you through these results in more detail. As a reminder, all comparisons are versus the second quarter and the first 6 months of 2025. Slide 7 provides an overview of our consolidated revenue. In Q2 2026, consolidated revenue reached EUR 70.1 million, up by 8% compared to the same period of last year. Growth continued to be led by Medical with revenue increasing by more than 12% in another quarter of double-digit expansion, reinforcing its position as our primary growth engine. Also, Manufacturing grew by nearly 7% year-over-year, reflecting the benefits of our strategic repositioning towards higher-value series manufacturing. Software, on the other hand, declined by 3%, reflecting cautious customer spending and extended sales cycles in the current industrial environment, although the high level of recurring revenue continues to support resilience of our business model. As shown on the right-hand side, Medical represented 53% of total revenue in Q2 with Manufacturing at 34% and Software at 14%. For the half year 2026, our revenue totaled EUR 136.3 million, up by nearly 4% compared to the same period last year. Our deferred revenue balance for software maintenance and license fees coming from both Medical and Software decreased in Q2 to EUR 46.5 million, but in line with normal seasonal renewal patterns. The total deferred revenue reported on our balance sheet stood at EUR 63 million at the end of the second quarter. Turning now to Slide 8. I'd like to highlight the progress we continue to make on profitability. In the second quarter, adjusted EBITDA reached EUR 9.6 million, an increase of almost 16% year-on-year, resulting in an adjusted EBITDA margin of 13.7%. Adjusted EBIT improved to EUR 3.9 million compared to EUR 3.1 million in the prior year quarter, resulting in a 5.5% adjusted EBIT margin. For the half year, adjusted EBITDA rose to EUR 17.6 million, representing a margin of 12.9%, while adjusted EBIT increased sharply to EUR 6.4 million, representing a margin of 4.7%. This clear margin expansion reflects revenue growth, disciplined cost management, operational efficiencies and a sharper focus on our core growth segments as we execute our strategy across our various business units. These results once more demonstrate the resilience of our business model and our ability to improve profitability despite the still challenging macroeconomic environment. Let me now turn to our business segments, starting with Materialise Medical as shown on Slide 9. Medical revenue increased by more than 12% year-on-year, and that growth was primarily driven by Medical Devices, which grew 19% across our partner and direct sales channels, partly offset by a minus 4% realized in our Medical Software segment. Adjusted EBITDA increased to EUR 11.6 million, representing a strong 31% EBITDA margin, while we continued to increase targeted R&D investments to support future growth opportunities. For the half year, Medical segment revenue increased by nearly 10% to EUR 70 million, with adjusted EBITDA reaching EUR 20.8 million at a consistent margin of 30%. Slide 10 summarizes the results of our Materialise Software segment. In Q2 2026, Software revenue decreased, as said, by 3% to EUR 9.6 million, reflecting the cautious customer spending and extended sales cycles we continue to see in the current industrial environment. During the quarter, 86% of our software revenue can now be considered to be recurring, while we are approaching the final stages of our transition from perpetual licenses to recurring subscription model. Adjusted EBITDA in Q2 showed a decline to EUR 1 million, reflecting the impact of lower revenue combined with ongoing investments in our new product functionality. As already mentioned by Brigitte, in Q2, we fully launched CO-AM Pro ahead of plan, and this release marks an important strategic milestone for our future growth. For the half year, Software segment revenue totaled EUR 19.2 million, 2% below 2025. Despite softer revenue, profitability improved with adjusted EBITDA for the first half reaching EUR 2.1 million, representing a margin of 10.9%. Turning now to Slide 11. This slide covers our Manufacturing segment. Manufacturing revenue increased nearly 7% to EUR 23.6 million despite the unfavorable revenue impact of the RapidFit divestment. The return to growth reflects continued traction in our strategic focus segments, particularly Aerospace and Defense. This growth in series manufacturing was still partly offset by continued weakness in prototyping demand in Q2. Alongside top line growth, disciplined cost control drove an improved adjusted EBITDA, landing now at minus EUR 0.3 million compared to minus EUR 0.8 million in the prior year period. This improvement demonstrates that our cost actions and portfolio optimization efforts are beginning to translate into improved operating performance. For the half year, the Manufacturing revenue remained fairly stable, declining only slightly to EUR 47.1 million with an adjusted EBITDA margin -- sorry, adjusted EBITDA improving to breakeven. During the quarter, we successfully completed the divestment of RapidFit and announced also the sale of our Eyewear business, which in the meantime was successfully closed on July 1. The latter was recorded as an asset held for sale in our consolidated Q2 financials with EUR 0.7 million of asset impairments impacting that we adjusted for. These actions sharpen the strategic focus of our Manufacturing segment and allow us to allocate our capital and resources towards core growth priorities. With the segment results now covered, Slide 12 outlines our consolidated income statement, showing the drivers behind our improved profitability. Gross profit increased to EUR 39.8 million with the gross margin remaining fairly stable at 56.8%. Operating expenses in the quarter increased by 3.9%, reflecting targeted growth investments while maintaining our overall cost discipline. We continue to invest in innovation with total R&D spending exceeding EUR 12 million for the quarter, which reflects an increase of 11% year-on-year. For the half year, total operating expenses increased by only 2% compared to the prior year period, with the increase again driven by higher R&D investments, while G&A and S&M remained stable. Other operating income decreased in the quarter to EUR 0.8 million compared to EUR 1.3 million last year. The Q2 2026 figure includes nonrecurring charges of EUR 0.7 million related to an asset impairment on the transfer of eyewear. As a result of all this, operating profit reached EUR 2.8 million for the quarter. For the half year, this figure stood at EUR 4.9 million versus EUR 3.3 million in the first half of 2025. This improvement reflects the combined impact of revenue growth, stronger operational execution and disciplined cost management. The net financial income for the quarter was limited to EUR 0.2 million, driven by interest income on cash balances and interest expense on debt. The impact from currency fluctuations remained limited in Q2 of this year. Income tax benefit amounted to EUR 0.3 million. Overall, this resulted in an increased net profit of EUR 3.3 million or EUR 0.06 per share. For the half year, net profit totals EUR 5.1 million or EUR 0.09 per share. Finally, let's review now our balance sheet and cash flow position, which remains a key strength for Materialise on Slide 13. Our cash reserve at the end of the quarter amounted to EUR 133.7 million, while our gross debt was further reduced to EUR 59.5 million. Our resulting net cash position increased to EUR 74.2 million, up by more than EUR 3.4 million compared to the beginning of this year, primarily driven by strong operating cash flow generation. At the same time, we invested EUR 5.2 million over the first 6 months of this year through our share buyback program on NASDAQ, acquiring close to 1.1 million ADSs, representing 1.8% of our total share base by June 30, 2026. Compared to the balance sheet at year-end 2025, net working capital components increased by EUR 3.9 million, driven by higher inventory levels of finished products and work in progress, higher receivables and lower outstanding payables. Deferred income increased to EUR 62.6 million, including EUR 46.5 million related to software licenses and maintenance. As you can see from the graph on the right side of the page, the operating cash flow in the second quarter amounted to more than EUR 8 million. Capital expenditures totaled EUR 2 million, almost all of which is recurring. Even with continued investments in growth initiatives, we again delivered solid free cash flow generation in this quarter, with cash flow after investing activities amounting to EUR 5.6 million. For the half year, operational cash flow was EUR 50 million, significantly up from the same period in 2025. Combined with lower CapEx, this resulted in a free cash flow of more than EUR 11.4 million, almost double of last year. For the first half of 2026, CapEx totaled EUR 3.4 million and remained well below prior year levels. Recurring CapEx of EUR 2.7 million was primarily focused on machinery, while nonrecurring CapEx fell to EUR 0.1 million -- EUR 0.8 million, primarily reflecting investments in our internal digital transformation programs. With that, I'd like to hand the call back to Brigitte. Brigitte de Vet-Veithen: Thank you, Koen. Let's now turn to Page 14. I'll open my remarks with a discussion of our full year 2026 guidance. Our solid first half year performance reinforces our confidence in delivering on our financial targets. The strategic actions we are taking to sharpen our portfolio and to focus on strategic growth segments, combined with the targeted investments we are making across our 3 segments are enhancing operational performance and positioning Materialise for profitable growth. Accordingly, we are reaffirming our full year 2026 revenue guidance of EUR 273 million to EUR 283 million, fully absorbing the expected unfavorable revenue impact of the RapidFit and Eyewear divestments. At the same time, we are increasing our full year adjusted EBIT guidance to EUR 12 million to EUR 14 million from the earlier communicated range of EUR 10 million to EUR 12 million, reflecting the strength of our execution and our continued discipline in managing costs and capital. This concludes our prepared remarks. Operator, we are now ready to open the call to questions. Operator: [Operator Instructions] Our first question comes from Alexander Craeymeersch with Kepler Cheuvreux. Alexander Craeymeersch: So the first one would be on Medical. We saw a reacceleration to 12% year-on-year growth in Q2, and that came after that softer Q1. So I'm wondering what changed sequentially? Can we hold up this double-digit growth? I know that's the target, but how -- like can we expect it to be sustained in H2 and also in 2027, perhaps? Then maybe a related question on this would be, if I look at the underlying drivers, we see medical software down 5% and then devices and services increasing 19%. So the question on this is, how do we need to look at this? Is this basically less customers trying to make the design themselves and opting to outsource the design service to you and hence, there is less need for software? So that's the question on Medical. Then the second question I have would be on basically 2026 EBIT guidance. You guide for EUR 12 million to EUR 14 million in EBIT. Of course, you already delivered EUR 6.4 million in the first half. In the past, the budget cycles always gave you a stronger Q4, especially in Software. Is it safe to assume that you don't expect the same budget cycle to happen this year given your guidance? I will stick to these 2. Brigitte de Vet-Veithen: Thanks for your questions. I'll kick us off with the question on Medical. I have previously always said that the structural growth rate for Medical is double digit, but low double digits. Reasonably, a sustainable growth number that I would expect for Medical is around the 10%, which is essentially what you see for the first half of this year. That is absolutely sustainable. Of course, there can be quarter-over-quarter differences, which, again, you see what you see in Q1 and Q2 numbers, and that purely has to do with a couple of timing impacts. Now your question on the underlying drivers. We do indeed see softer software revenue and stronger device and service revenue. There's a couple of elements that explain that. One of the primary elements is on the software side, we have an academic segment that we serve and in particular, in the U.S. So those are academic centers that use our software to train their students, but also to do research based on our product. In the U.S., in particular, research grants have been reduced for the last year, and we see the impact of that in our software sales. That's a segment that we serve with our software portfolio, but not with our device and service portfolio. That's a structural difference between those 2 segments. The second aspect that we need to take into account is the domains in which we are playing and in which our software is used, which are slightly different from the market segments in which the device and services are positioned and are used. Of course, these different market segments and then I talk about anatomical areas, they are subject to different trends in reimbursement hence also affordability. Our software products historically have been positioned a little more very strongly on the orthopedic side, which is, again, particularly in the U.S., a segment where reimbursement changes have led to a bit more cautiousness from our customers' side, and that's what we feel in our software revenue. Those are the underlying drivers that differentiate our Software segment from our Device and Services segment. And I'll hand it over for Koen to tackle your second question on the 2026 EBIT guidance and the fact that you mentioned that we already delivered EUR 6.4 million in the first half of the year. Koen Berges: Alexander to add to that -- to answer that question, I think indeed, what we've been able to demonstrate in the first half of this year, I think that we have been able to improve our profitability and expressed EBIT or EBITDA percentage. We believe that is also largely driven by the fact that we have been able to reduce our cost structure. You have to fill in that, that is also structural cost savings that we're doing there. We are counting to continue them as well going forward. If you, of course, do an extrapolation of the current realized EBIT in the first half of the year, you would indeed end in somewhere in the middle of the guidance range that we put forward now. There is, of course, some seasonality in the quarters. The fourth quarter is typically a stronger quarter. We hope to have that as well this year, of course. But on the other hand, the summer quarter in the third quarter typically is then maybe a bit of a softer quarter typically, if you look over the trend over the past years. Probably those will compensate each other to a certain extent. That's why we see for ourselves as landing in the range between EUR 12 million to EUR 14 million of EBIT over the full year. Brigitte de Vet-Veithen: Does that answer your question, Alexander? Alexander Craeymeersch: Yes. Operator: Our next question comes from Guy Sips with KBC Securities. Guy Sips: Yes. First of all, congratulations with the very good results. You highlighted encouraging early adoption of CO-AM Professional and launched early adopter programs for CO-AM NPI and Enterprise and expanded your partnership with HP. Could you share how you see these initiatives contributing to software growth and recurring revenues over the next few years? Brigitte de Vet-Veithen: Yes. Thank you for your question, Sips. It's a very valid question because the whole CO-AM program is a strategic move, as you know, that we made a couple of years ago and that we are driving as we speak with those 3 offerings, the CO-AM Pro, CO-AM NPI and CO-AM Enterprise offering. Now the way you need to look at this program and the shift that we are making is really on the basis of our installed base of Magics, we bring additional capabilities to the market that are packaged in those 3 offerings, Pro, NPI and Enterprise. Now in particular, NPI and Enterprise for us will be growth drivers. Why? Because we position in those segments where companies have understood the value of additive manufacturing and are now in a need for capabilities to help them scale. That is exactly what NPI and Enterprise are trying to do. As an example, in the Aerospace or Defense segment, where the value of additive is well established, users already have a base of additive manufacturing. They now want to get to the next level, scale, do more and more parts with it. That's where the NPI and the Enterprise capability come in. Those will be driving our growth going forward. The Pro offering is a step into the CO-AM offering as a first step which is a critical one because we want to get customers onto our cloud platform, but the major growth drivers will come from NPI and Enterprise. Does that answer your question? Operator: I'm showing no further questions. I'd like to turn the call back over to Brigitte de Vet for closing remarks. Brigitte de Vet-Veithen: Thanks again for joining us today. We look forward to continuing our dialogue with you through investor conference or in one-on-one virtual meetings and calls. In the meantime, please reach out if you have any questions. Thank you, and goodbye for now. Operator: Thank you for your participation. You may now disconnect. Good day. 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Regulated information1 LEUVEN, Belgium, August 27, 2026--(BUSINESS WIRE)--Materialise NV (Euronext & NASDAQ:MTLS), a global leader in 3D-printed medical devices and software, and a pioneer in additive manufacturing software and services, today announced its financial results for the second quarter and the six months ended June 30, 2026. Highlights – Second Quarter 2026 Total revenue increased by 8.1% to 70,073 kEUR for the second quarter of 2026 compared to 64,831 kEUR for the corresponding 2025 period. Adjusted EBITDA increased by 15.7% to 9,593 kEUR for the second quarter of 2026 compared to 8,288 kEUR for the second quarter of 2025. Adjusted EBIT increased by 26.9% to 3,880 kEUR for the second quarter of 2026 from 3,058 kEUR for the second quarter of 2025. Net profit for the second quarter of 2026 amounted to 3,331 kEUR, or 0.06 EUR per diluted share, compared to net profit of 199 kEUR, or 0.00 EUR per diluted share, for the corresponding 2025 period. The net cash position at quarter end was 74,214 kEUR, 1,388 kEUR higher compared to the net cash position as of March 31, 2026 while 2,903 kEUR was invested in share buybacks, underscoring continued strong operational cash generation. Highlights – Half-Year 2026 Driven by a strong 9.6% growth in our Materialise Medical segment, total revenue increased by 3.9% to 136,349 kEUR for the first half of 2026 compared to 131,210 kEUR for the first half of 2025. Gross profit as a percentage of revenue for the first half of 2026 was 57.0%, compared to 56.8% for the first half of 2025. Adjusted EBITDA increased by 22.2% to 17,642 kEUR for the first half of 2026 compared to 14,434 kEUR for the first half of 2025. Adjusted EBIT increased by 71.4% to 6,351 kEUR for the first half of 2026 from 3,703 kEUR for the first half of 2025. Net profit for the first half of 2026 amounted to 5,152 kEUR, or 0.09 EUR per diluted share, compared to a net loss of (337) kEUR, or (0.01) EUR per diluted share, for the first half of 2025. Total cash reserves amounted to 133,735 kEUR at the end of the first half of 2026. The net cash position increased by 3,409 kEUR during the first half of 2026, while 5,212 kEUR was invested in share buybacks. CEO Brigitte de Vet-Veithen commented, "In the second quarter of 2026, Materialise delivered strong financial results with consolidated revenue exceeding EUR 70 million, up 8% year over year. Double-digit revenue growth in our Materialise Medical segment was complemented by renewed growth in our Manufacturing segment driven by strong performance in our aerospace & defense focus markets. Combined with disciplined cost management and focused execution, this revenue growth translated into a significant improvement in operational and bottomline profitability. Our net cash position further strengthened supported by consistent operating cash flow while we continued the execution of our share buyback program. We also made meaningful progress against our strategic priorities during the quarter. Our Materialise Software segment launched its new CO-AM offerings, we completed the previously announced divestitures of our RapidFit and Eyewear business lines, and we invested in Replasia to further expand our personalized hip care portfolio. These actions reflect our commitment to sharpening our focus, strengthening our leadership in high-value applications, and building the foundation for sustainable long-term growth. With a strong balance sheet, Materialise is well positioned to capture further opportunities ahead and to create lasting value for customers, patients, partners, and shareholders." Second quarter 2026 Results Total revenue for the second quarter of 2026 increased by 8.1% to 70,073 kEUR from 64,831 kEUR for the second quarter of 2025. Adjusted EBIT increased by 26.9% to 3,880 kEUR for the second quarter of 2026 compared to 3,058 kEUR for the 2025 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the second quarter of 2026 was 5.5%, compared to 4.7% for the second quarter of 2025. Adjusted EBITDA for the second quarter of 2026 increased by 15.7% to 9,593 kEUR compared to 8,288 kEUR for the 2025 period. Revenue from our Materialise Medical segment increased 12.2% to 36,873 kEUR for the second quarter of 2026 compared to 32,850 kEUR for the same period in 2025. Segment Adjusted EBITDA increased 7.7% to 11,553 kEUR for the second quarter of 2026 compared to 10,728 kEUR, while the segment Adjusted EBITDA margin was 31.3% compared to 32.7% for the second quarter of 2025. Revenue from our Materialise Software segment decreased 2.7% to 9,601 kEUR for the second quarter of 2026 from 9,872 kEUR for the same quarter last year. Segment Adjusted EBITDA decreased to 981 kEUR from 1,373 kEUR, while the segment Adjusted EBITDA margin was 10.2% compared to 13.9% for the prior-year period. Revenue from our Materialise Manufacturing segment increased 6.7% to 23,597 kEUR for the second quarter of 2026 from 22,109 kEUR for the second quarter of 2025. Segment Adjusted EBITDA improved to (285) kEUR compared to (807) kEUR for the same period in 2025, while the segment Adjusted EBITDA margin was (1.2)% compared to (3.6)% for the second quarter of 2025. Gross profit increased 5.3% to 39,776 kEUR for the second quarter of 2026 compared to 37,778 kEUR for the same period last year, while gross profit as a percentage of revenue ended at 56.8% compared to 58.3% for the second quarter of 2025. Research and development ("R&D"), sales and marketing ("S&M"), and general and administrative ("G&A") expenses increased, in the aggregate, by 3.9% to 37,758 kEUR for the second quarter of 2026 from 36,334 kEUR for the second quarter of 2025. Net other operating income was 766 kEUR compared to 1,286 kEUR for the second quarter of 2025. Net operating income in the second quarter of 2026 includes non-recurring charges of 689 kEUR from the impairment of tangible and intangible assets related to the transfer of the Eyewear assets. Operating result remained fairly stable at 2,785 kEUR compared to 2,730 kEUR for the second quarter of 2025, while net financial result was 242 kEUR, compared to (3,052) kEUR for the second quarter of 2025. The latter being significantly impacted by unfavorable foreign exchange results. The second quarter of 2026 contained net tax benefits of 304 kEUR, compared to net tax benefits of 521 kEUR in the second quarter of 2025. As a result of the above, net profit for the second quarter of 2026 increased sharply to 3,331 kEUR, compared to 199 kEUR for the same period in 2025. Cash flow from operating activities for the second quarter of 2026 amounted to 8,146 kEUR compared to (27) kEUR for the same period in 2025. Total cash used for capital expenditures for the second quarter of 2026 amounted to 1,975 kEUR and free cash flow after operating and investing activities was 5,625 kEUR. Half-Year 2026 Results Total revenue for the first half of 2026 increased by 3.9% to 136,349 kEUR, compared to 131,210 kEUR for the same period in 2025. Adjusted EBIT for the first half of 2026 increased by 71.4% to 6,351 kEUR, up from 3,703 kEUR for the corresponding period in 2025. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the first half of 2026 increased to 4.7%, compared to 2.8% for the same period in 2025. Adjusted EBITDA for the first half of 2026 increased by 22.2% to 17,642 kEUR, compared to 14,434 kEUR for the same period in 2025. Revenue from our Materialise Medical segment increased by 9.6% to 70,039 kEUR for the first half of 2026, compared to 63,928 kEUR for the same period in 2025. The segment’s Adjusted EBITDA increased by 5.1% to 20,787 kEUR from 19,775 kEUR. The segment’s Adjusted EBITDA margin ended at 29.7% in the first half of 2026 compared to 30.9% for the first half of 2025. Revenue from our Materialise Software segment decreased 2.1% to 19,242 kEUR for the first half of 2026 compared to 19,647 kEUR for the same period in 2025. The segment’s Adjusted EBITDA increased by 6.7% to 2,103 kEUR from 1,971 kEUR. The segment’s Adjusted EBITDA margin improved to 10.9% in the first half of 2026, compared to 10.0% in the first half of 2025. Revenue from our Materialise Manufacturing segment decreased 1.2% to 47,067 kEUR for the first half of 2026 from 47,635 kEUR for the first half of 2025. The segment’s Adjusted EBITDA improved to (4) kEUR compared to (1,185) kEUR. The segment’s Adjusted EBITDA margin was (0.0)% in the first half of 2026, compared to (2.5)% in the first half of 2025. Consolidated gross profit increased 4.3% to 77,670 kEUR from 74,502 kEUR in last year’s first half. Gross profit as a percentage of revenue increased to 57.0%, compared to 56.8% in the first half of 2025. Research and development ("R&D") expenses increased by 7.4% to 24,203 kEUR in the first half of 2026 reflecting higher investments in our Materialise Medical and Software segments. Other operational expenses, including sales and marketing ("S&M") and general and administrative ("G&A") expenses, remained stable in aggregate at 50,268 kEUR for the first half of 2026, compared to 50,311 kEUR for the first half of 2025. Net other operating income was 1,676 kEUR compared to 1,646 kEUR for the first half of 2025. Operating result increased to 4,875 kEUR for the first half of 2026 compared to 3,303 kEUR in the same period of the prior year. Net financial result amounted to 634 kEUR, compared to (3,927) kEUR for the first half of 2025. Income taxes amounted to (358) kEUR compared to 287 kEUR for the first half of 2025. As a result, net profit amounted to 5,152 kEUR for the first half of 2026 compared to a net loss of (337) kEUR in the first half of 2025. Cash flow from operating activities for the first half of 2026 increased to 15,060 kEUR compared to 9,686 kEUR for the first half of 2025. Total capital expenditures for the first half of 2026 amounted to 3,445 kEUR compared to 6,561 kEUR for the first half of 2025. Free cash flow, after operating and investing activities, for the first half of 2026 amounted to 11,368 kEUR. At June 30, 2026, we held cash and cash equivalents of 133,735 kEUR compared to 133,918 kEUR at December 31, 2025. Gross debt decreased to 59,521 kEUR, compared to 63,113 kEUR at December 31, 2025. As a result, our net cash position increased by 3,409 kEUR to 74,214 kEUR compared to 70,805 kEUR as of December 31, 2025. At the end of the second quarter of 2026 Materialise had bought back 1,070,797 own shares for a total amount (excluding transaction cost) of 5,212 kEUR (6,091 kUSD) under its previously announced share buy-back program. Net shareholders' equity at June 30, 2026 increased to 256,268 kEUR compared to 255,482 kEUR at December 31, 2025. On August 27, 2026, Materialise released its 2026 Half-Year Report providing further insights in its operational and financial performance over the first half of 2026. This report is now also available on our Investor Relations website under the reports section. The timing of our second quarter financial results update was intentionally aligned with the public release of the 2026 Half-Year report. 2026 Guidance Mrs. de Vet-Veithen concluded,"Our solid first-half year performance reinforces our confidence in delivering on the financial targets we set for 2026. The strategic actions we are taking to sharpen our portfolio and the targeted investments we are making across our three segments are enhancing operational performance and positioning Materialise for profitable growth. Accordingly, we are reaffirming our full-year 2026 revenue guidance of 273,000 to 283,000 kEUR, fully absorbing the unfavorable revenue impact of the RapidFit and Eyewear divestments. At the same time we are increasing our full-year Adjusted EBIT guidance to a range of 12,000 to 14,000 kEUR from a previously communicated range of 10,000 to 12,000 kEUR, reflecting the strength of our execution and our continued discipline in managing costs and capital." Non-IFRS Measures Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance, including for purposes of monitoring compliance with financial covenants, supporting discussions with financing institutions, and meeting reporting requirements to our banks. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition expenses related to business combinations or divestiture-related expenses, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA and segment Adjusted EBITDA margin to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items. Exchange Rate This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1394, the reference rate of the European Central Bank on June 30, 2026. Conference Call and Webcast Materialise will hold a conference call and simultaneous webcast to discuss its second quarter and half-year financial results of 2026 on Thursday, August 27, 2026, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call. https://register-conf.media-server.com/register/BI1b662511962140febfa1a767c86a06ee The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. The webcast of the conference call will be archived on the company's website for one year. About Materialise Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com. Cautionary Statement on Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, divestitures, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "forecast," "will," "may," "could," "might," "aim," "should," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release. The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information. View source version on businesswire.com: https://www.businesswire.com/news/home/20260826250614/en/ Contacts Investor Relations ContactJody BurfeningAlliance Advisors Investor [email protected]

Interested in Materialise NV? Here are five stocks we like better. Materialise raised its full-year adjusted EBIT outlook to €12 million–€14 million from €10 million–€12 million, while maintaining revenue guidance of €273 million–€283 million. Second-quarter revenue rose more than 8% to €70.1 million, with adjusted EBITDA up nearly 16% to €9.6 million. Medical led growth, with revenue increasing more than 12% and medical-device revenue up 19%, although medical software declined 4% amid weaker research grants and cautious customer spending. Manufacturing revenue rose nearly 7%, helped by 40% aerospace growth, while its adjusted EBITDA loss narrowed substantially. Materialise is focusing on scalable businesses by completing the divestitures of RapidFit and Eyewear and advancing its subscription-based software portfolio. Software revenue fell 3%, but recurring revenue reached 86% as new CO-AM products target longer-term growth in aerospace, defense and other industrial markets. Materialise NVStock Bottom is Materializing Materialise (NASDAQ:MTLS) reported second-quarter revenue growth of more than 8% year over year to €70.1 million, driven by double-digit expansion in its Medical segment and continued improvement in profitability. The company raised its full-year adjusted EBIT outlook while maintaining its revenue guidance, despite the anticipated revenue effect of divesting its RapidFit and Eyewear businesses. Chief Executive Officer Brigitte de Vet said the company’s first-half performance supported its confidence in its 2026 plan. Materialise now expects full-year adjusted EBIT of €12 million to €14 million, up from its prior forecast of €10 million to €12 million. It reaffirmed revenue guidance of €273 million to €283 million. → Quantum Computing Is Raising the Stakes for Cybersecurity: 5 Stocks to Watch Second-quarter gross profit rose to €39.8 million, producing a gross margin of 56.8%. Adjusted EBITDA increased nearly 16% from a year earlier to €9.6 million, or 13.7% of revenue. Adjusted EBIT reached €3.9 million, compared with €3.1 million in the prior-year quarter, and the adjusted EBIT margin expanded to 5.5%. Net profit totaled €3.3 million, or €0.06 per share. For the first half, net profit was €5.1 million, or €0.09 per share, while revenue increased nearly 4% to €136.3 million. First-half adjusted EBITDA was €17.6 million and adjusted EBIT was €6.4 million. → NVIDIA Reveals $21 Billion SpaceX Stake: Signal of Confidence or Circular Financing? Chief Financial Officer Koen Berges attributed the margin improvement to revenue growth, cost management, operational efficiencies and a sharper focus on core growth segments. Operating expenses increased 3.9% in the quarter, while research-and-development spending exceeded €12 million, up 11% year over year. Materialise said it continued to make targeted investments in new products and growth opportunities. The company ended the quarter with €133.7 million in cash and €59.5 million in gross debt, resulting in net cash of €74.2 million, up €3.4 million from the beginning of the year. It spent €5.2 million during the first six months on share repurchases, acquiring nearly 1.1 million American depositary shares, or 1.8% of its share base as of June 30. → Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding Medical revenue increased more than 12% in the second quarter, with medical-device revenue up 19% across partner and direct-sales channels. Medical software revenue declined 4%. The Medical segment generated adjusted EBITDA of €11.6 million, representing a 31% margin. De Vet told analysts that Medical’s sustainable structural growth rate should be in the low-double digits, or around 10%, though quarterly results can vary because of timing effects. She said softer medical-software revenue partly reflected reduced research grants at U.S. academic centers, which use Materialise software for training and research but do not typically purchase its device and service offerings. She also cited differing reimbursement conditions across the markets served by the company. Materialise’s software portfolio has historically been more concentrated in orthopedics, where reimbursement changes in the U.S. have contributed to more cautious customer spending, she said. During the quarter, Materialise announced an investment in Belgian medtech startup Replasia, which develops personalized 3D-printed solutions and anatomical-analysis software for hip preservation. De Vet said the investment complements Materialise’s hip-replacement portfolio and broadens its position in personalized hip care as the market moves toward less invasive treatments. Software revenue declined 3% to €9.6 million in the second quarter, as customers remained cautious and sales cycles lengthened in the industrial market. However, 86% of software revenue was recurring as the company neared the completion of its transition from perpetual licenses to a subscription model. Materialise released CO-AM Pro on May 15, one month ahead of schedule. The cloud-based offering is integrated with Magics and combines additive-manufacturing data management with build preparation. The company also formally released its CO-AM Bricks automation platform and began early-adopter programs for CO-AM NPI and CO-AM Enterprise. De Vet said the NPI and Enterprise offerings are expected to be longer-term software growth drivers because they target companies seeking to scale established additive-manufacturing operations, particularly in aerospace and defense. Software adjusted EBITDA declined to €1 million during the quarter as lower revenue and investment in new functionality weighed on results. Manufacturing revenue rose nearly 7% to €23.6 million despite the impact of the RapidFit divestment. Aerospace revenue grew 40%, while continued weak prototyping demand partly offset growth in series manufacturing. The segment’s adjusted EBITDA loss narrowed to €0.3 million from a €4.8 million loss a year earlier. Materialise completed the transfer of RapidFit to its management team on April 30 and closed the transfer of its Eyewear business on July 1. The company retained a 20% minority stake in Eyewear. Berges said the transactions are intended to focus capital and management resources on business lines with stronger long-term scaling potential. Materialise also announced executive committee changes effective in early September. Annelies Smits-Ottens will join as chief human resource officer, and Philippe Verlinden will assume the newly created role of chief digital and information officer. The company is also seeking a new leader for its Medical segment, with current Medical leader Koen Peters set to leave in September. On the earnings outlook, Berges said Materialise expects typical seasonal patterns to persist, with the third quarter generally softer and the fourth quarter usually stronger. He said extrapolating first-half EBIT would place the company near the middle of its updated full-year guidance range. Materialise NV is a Belgium-based company specializing in 3D printing software and additive manufacturing services. Through its dual focus on software and printing, the company addresses a wide range of industries, including automotive, aerospace, consumer goods, and healthcare. Materialise's offerings span from design and simulation tools to end-to-end production, delivering both standardized and highly customized parts across polymer and metal platforms. On the software side, Materialise develops a suite of proprietary applications—such as Magics for data preparation, Mimics for medical image processing and patient-specific modeling, and Streamics for production workflow management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Materialise Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Revenue: Consolidated revenue grew by more than 8% year-on-year to EUR70.1 million in Q2 2026. Gross Profit: Increased to EUR39.8 million, resulting in a gross margin of 56.8%. Adjusted EBIT: Reached EUR3.9 million, with the adjusted EBIT margin expanding to 5.5%. Net Profit: Amounted to EUR3.3 million, or EUR0.06 per share. Adjusted EBITDA: Reached EUR9.6 million, an increase of almost 16% year-on-year, resulting in a margin of 13.7%. Medical Revenue: Increased by more than 12% year-on-year, driven by Medical Devices growth of 19%. Software Revenue: Decreased by 3% to EUR9.6 million, with 86% of revenue considered recurring. Manufacturing Revenue: Increased nearly 7% to EUR23.6 million, with Aerospace revenue growing 40%. Net Cash Position: Increased to EUR74.2 million, up EUR3.4 million compared to the start of the year. Operating Cash Flow: Amounted to more than EUR8 million in Q2, with free cash flow of EUR5.6 million after investing activities. Full Year 2026 Guidance: Reaffirmed revenue guidance of EUR273 million to EUR283 million, and increased adjusted EBIT guidance to EUR12 million to EUR14 million. Warning! GuruFocus has detected 7 Warning Signs with FRA:83I. Is MTLS fairly valued? Test your thesis with our free DCF calculator. Release Date: August 27, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Consolidated revenue grew 8% year-over-year to EUR70.1 million, with Medical leading at 12% growth. Adjusted EBIT margin expanded to 5.5%, up from 4.8% in the prior year, reflecting strong operating leverage. Net cash position increased to EUR74.2 million, up EUR3.4 million since the start of the year, supported by strong operating cash flow. Aerospace revenue surged 40% in Q2, with a key partnership with Lufthansa Technik and a new defense project (STRIKE IT). CO-AM Pro was launched ahead of schedule, with early customer validation and a structured expansion into NPI and Enterprise offerings. Full-year adjusted EBIT guidance was raised to EUR12-14 million from EUR10-12 million, reflecting improved execution. Manufacturing segment improved adjusted EBITDA to -EUR0.3 million from -EUR0.8 million, despite divestments. Medical Devices grew 19%, driven by strong partner and direct sales channels. Free cash flow nearly doubled to EUR11.4 million in the first half of 2026. Completed divestments of RapidFit and Eyewear, sharpening portfolio focus on core growth areas. Software revenue declined 3% year-over-year due to cautious customer spending and extended sales cycles. Medical Software revenue fell 4%, impacted by reduced US research grants and reimbursement changes in orthopedics. Manufacturing segment still reported an adjusted EBITDA loss of EUR0.3 million in Q2. Prototyping demand remained weak, offsetting growth in series manufacturing. Operating expenses increased 3.9% in Q2, driven by higher R&D investments. Other operating income decreased to EUR0.8 million from EUR1.3 million, including a EUR0.7 million asset impairment. Deferred revenue for software maintenance and licenses decreased to EUR46.5 million in Q2. The company faces leadership changes in the medical segment, which could create short-term uncertainty. Macroeconomic environment remains challenging, with cautious customer spending persisting. Full-year revenue guidance was reaffirmed, but the divestments are expected to have an unfavorable revenue impact. Q: Medical revenue reaccelerated to 12% year-on-year growth in Q2 after a softer Q1. What changed sequentially, and can this double-digit growth be sustained in H2 and into 2027? Additionally, with Medical Devices up 19% but Medical Software down 4%, does this indicate customers are outsourcing design services rather than using software?A: Brigitte de Vet-Veithen (CEO): The structural growth rate for Medical is low double digits, and around 10% is sustainable, with quarter-over-quarter timing impacts causing fluctuations. The divergence between software and device revenue is driven by two factors: reduced US research grants impacting academic software sales, and different market segments (anatomical areas) with varying reimbursement trends. Our software is historically stronger in orthopedics, where US reimbursement changes have made customers more cautious, while devices and services are positioned in different, more robust segments. Q: You raised full-year 2026 adjusted EBIT guidance to EUR12 million-EUR14 million from EUR10 million-EUR12 million, despite already delivering EUR6.4 million in H1. Given the typical strong Q4 budget cycle, does this imply you don't expect the same seasonal boost this year?A: Koen Berges (CFO): The improved profitability in H1 is largely driven by structural cost savings that we expect to continue. While Q4 is typically a stronger quarter and Q3 is typically softer, these should compensate each other. Our guidance of EUR12 million-EUR14 million reflects a realistic full-year landing zone based on current execution and cost discipline. Q: You highlighted encouraging early adoption of CO-AM Pro and launched early adopter programs for CO-AM NPI and Enterprise, and expanded your partnership with HP. How do you see these initiatives contributing to software growth and recurring revenues over the next few years?A: Brigitte de Vet-Veithen (CEO): The CO-AM program is a strategic move to bring additional capabilities to our Magics installed base through three offerings: Pro, NPI, and Enterprise. While Pro is a critical first step to get customers onto our cloud platform, the major growth drivers will be NPI and Enterprise. These are positioned for segments like Aerospace and Defense where additive manufacturing value is established, and users need capabilities to scale their operationsthat's where the growth will come from. Q: Can you elaborate on the leadership changes announced, particularly the departure of Koen Peters from the Medical segment, given the segment's strong performance?A: Brigitte de Vet-Veithen (CEO): The Medical unit is delivering strong results with significant opportunities ahead. To fully capitalize on these opportunities, we decided to look for a new leader for the medical segment. Koen Peters will leave the company in September. We are also strengthening our leadership team with Annelies Missotten as Chief Human Resource Officer and Philippe Verlinde in the newly created role of Chief Digital and Information Officer to further drive our digital agenda and strategy execution. Q: Manufacturing returned to growth with nearly 7% revenue increase despite the RapidFit divestment. Can you discuss the drivers and the outlook for this segment?A: Brigitte de Vet-Veithen (CEO): The return to growth reflects continued traction in our strategic focus segments, particularly Aerospace and Defense. Aerospace grew 40% in Q2, exemplified by our project with Lufthansa Technik where we redesigned a failed aircraft cabin part for additive manufacturing, earning us the status of official workbench for Lufthansa Technik Metal Parts. We're also building momentum in defense with projects like STRIKE IT for the Belgian Cyber Force, leveraging our Identify3D and CO-AM technologies for secure digital manufacturing of spare parts. Q: Software revenue declined 3% in Q2. Can you provide more color on the cautious customer spending and extended sales cycles you mentioned?A: Koen Berges (CFO): The decline reflects the challenging industrial environment with cautious customer spending and extended sales cycles. However, 86% of software revenue is now recurring, which supports the resilience of our business model. We are approaching the final stages of our transition from perpetual licenses to a recurring subscription model. The Q2 adjusted EBITDA decline to EUR1 million reflects the impact of lower revenue combined with ongoing investments in new product functionality, particularly the CO-AM Pro launch. Q: Can you provide more details on the divestments of RapidFit and Eyewear and their impact on the Manufacturing segment?A: Koen Berges (CFO): We completed the transfer of RapidFit on April 30 and Eyewear on July 1. These transactions sharpen the strategic focus of our Manufacturing segment, allowing us to allocate capital and resources towards core growth priorities. The Eyewear divestment was recorded as an asset held for sale in Q2 with EUR0.7 million of asset impairments that we adjusted for. We retain a 20% minority stake in Eyewear, reflecting our continued confidence in the business. Despite the unfavorable revenue impact of these divestments, Manufacturing still grew nearly 7% in Q2. Q: Your net cash position increased to EUR74.2 million. Can you discuss your capital allocation priorities and the share buyback program?A: Koen Berges (CFO): Our balance sheet and cash generation remain key strategic strengths. We increased our net cash position by EUR3.4 million compared to the start of the year, supported by strong operating cash flow and continued debt reduction. We invested EUR5.2 million in our share buyback program during H1, acquiring close to 1.1 million ADSs, representing 1.8% of our total share base. Free cash flow for H1 was more than EUR11.4 million, almost double last year, giving us flexibility to invest for future growth while returning value to shareholders. Q: Can you elaborate on the investment in Replasia and how it fits into your Medical strategy?A: Brigitte de Vet-Veithen (CEO): We announced an investment in Replasia, a Belgian med tech startup developing personalized 3D printing solutions and anatomical analysis software for hip preservation. Our current hip portfolio is focused on replacement. Strategically, this investment strengthens our position across the full spectrum of personalized hip care and complements our existing portfolio with hip preservation solutions. Preservation will play an important role as the market shifts towards less invasive approaches, similar to trends we're seeing in CMF with minimally invasive orthognathic surgery. Q: What are your expectations for the remainder of 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript.

LEUVEN, Belgium, June 17, 2026 (GLOBE NEWSWIRE) -- Regulated information[1] Materialise NV (Euronext: MTLS) (Nasdaq: MTLS) (“Materialise”) (the “Company”) hereby announces the results of the votes cast at its annual general shareholders’ meeting held on Tuesday, June 16, 2026, at 10.00am (CET) (the “General Meeting”). The shareholders who timely complied with the legal and statutory formalities represented 71,207,268 voting rights (corresponding to an attendance rate of 76% out of a total of 92,507,910 voting rights, taking into account the double voting rights attached to the loyalty shares in accordance with the Company's articles of association, and excluding the voting rights attached to treasury shares held by the Company). The total number of voting rights takes into account the voting instructions of the American Depositary Shares (ADS) holders as aggregated by BNY. All resolutions that required voting were approved. RESULTS OF THE RESOLUTIONS Receipt and discussion of the annual reports, including the corporate governance statement and sustainability reporting (CSRD), of the board of directors on the statutory annual accounts of Materialise NV and the consolidated annual accounts of the Materialise group for the financial year ended 31 December 2025, as well as the auditor reports on the company and consolidated financial statements NO VOTING Receipt of the consolidated annual accounts of the Materialise group for the financial year ended 31 December 2025 NO VOTING Approval of the statutory annual accounts of Materialise NV The General Meeting approves the statutory annual accounts of Materialise NV for the financial year ended 31 December 2025. VOTING For: 71,158,899 Against: 8,862 Abstain: 37,571 Appropriation of results The General Meeting resolves to carry forward the profit available for appropriation for the financial year 2025 for an amount of EUR 11,232,308.80, combined with the profit carried forward from prior financial years for an amount of EUR 3.653.734,77. The amount held above the required statutory reserves shall be withdrawn from the statutory reserves and likewise carried forward. VOTING For: 71,194,840 Against: 11,228 Abstain: 1,306 Acknowledgment and approval of the remuneration report The General Meeting resolves to approve the remuneration report, as included in the annual reports of the board of directors, for the financial year ended 31 December 2025. VOTING For: 67,539,192 Against: 3,659,987 Abstain: 8,122 Discharge of directors The General Meeting resolves to grant discharge to the directors (and, where applicable, their permanent representatives) for the performance of their mandate during the financial year ended 31 December 2025. VOTING Wilfried Vancraen: For: 71,148,577 Against: 11,591 Abstain: 47,100 Peter Leys: For: 71,148,657 Against: 14,867 Abstain: 43,851 Hilde Ingelaere: For: 71,148,628 Against: 14,874 Abstain: 43,800 Sander Vancraen: For: 71,148,698 Against: 14,880 Abstain: 43,789 Jozef Vander Sloten: For: 71,150,174 Against: 13,422 Abstain: 43,778 A TRE C BV, permanently represented by Johan De Lille: For: 71,150,171 Against: 13,843 Abstain: 43,353 Jürgen Ingels: For: 71,156,583 Against: 13,431 Abstain: 37,353 Marleen Mannekens: For: 71,156,580 Against: 13,423 Abstain: 37,364 Godelieve Verplancke: For: 71,156,563 Against: 13,458 Abstain: 37,353 Bart Luyten: For: 71,156,421 Against: 13,472 Abstain: 37,375 Volker Hammes: For: 71,149,538 Against: 13,932 Abstain: 43,353 Discharge of the statutory auditor The General Meeting resolves to grant discharge to the statutory auditor, being KPMG Bedrijfsrevisoren BV, with enterprise number 0419.122.548 and registered office at Brussels National Airport 1K, 1930 Zaventem, represented by Tim Vermeiren, for the performance of its mandate during the financial year ended 31 December 2025. VOTING For: 71,132,055 Against: 31,737 Abstain: 43,575 Reappointment of the statutory auditor for the financial years 2026, 2027 and 2028 and remuneration On the proposal of the audit committee, the General Meeting appoints KPMG Bedrijfsrevisoren BV/SRL (B00001), with registered office at Brussels National Airport 1K, 1930 Zaventem, as statutory auditor for a term of three years, for the audit of the statutory and consolidated annual accounts of the Company and, for as long as legally required, to provide the assurance opinion relating to the sustainability reporting as set out in article 3:58, §6 of the Belgian Code of Companies and Associations (the “BCCA”) for the financial years ended 31 December 2026–2027–2028. The mandate will expire following the general meeting convened to deliberate on the annual accounts for the financial year ending 31 December 2028. KPMG Bedrijfsrevisoren BV/SRL has designated Mr Tim Vermeiren (IBR No. A02567), certified auditor, as its permanent representative. The General Meeting resolves that the annual remuneration of KPMG Bedrijfsrevisoren BV for its mandate as statutory auditor of the Company shall amount to a maximum of EUR 974.208 (excluding expenses and VAT, where applicable) on an annual basis and subject to indexation. VOTING For: 71,190,489 Against: 8,650 Abstain: 8,203 Re-appointment of directors Directors nominated by the family shareholders On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of Mr Wilfried Vancraen as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 70,914,140 Against: 291,055 Abstain: 2,145 On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of Mr Peter Leys as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 69,820,910 Against: 1,384,272 Abstain: 2,168 On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of Ms Hilde Ingelaere as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 71,112,735 Against: 92,357 Abstain: 2,158 On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of Mr Sander Vancraen as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 71,114,291 Against: 90,912 Abstain: 2,147 On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of A TRE C BV, with Mr Johan De Lille as permanent representative, as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 67,318,527 Against: 3,886,697 Abstain: 2,126 On the proposal of the family shareholders, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to renew the mandate of Mr Jürgen Ingels as director for a period of one year expiring after the general meeting to be convened to approve the annual accounts for the financial year 2026. VOTING For: 67,271,369 Against: 3,933,834 Abstain: 2,147 Independent directors On the proposal of the board of directors, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to (a) renew the mandate of Ms Marleen Mannekens as independent director for a period of one year ending after the general meeting to be convened to approve the annual accounts for the financial year 2026, and (b) confirm her mandate in her capacity as independent member of the board of directors on the grounds that (i) Ms. Marleen Mannekens meets, and has declared that she meets, the independence criteria set out in article 7:87 of the BCCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, (ii) Ms. Marleen Mannekens has expressly declared that she does not maintain any relationship with the Company or any significant shareholder that could compromise her independence, and (iii) the board of directors has expressly declared that it has no indication of any element that could cast doubt on the independence of Ms. Marleen Mannekens within the meaning of article 7:87 of the BCCA. VOTING For: 71,165,422 Against: 29,755 Abstain: 12,166 On the proposal of the board of directors, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to (a) renew the mandate of Ms Godelieve Verplancke as independent director for a period of one year ending after the general meeting to be convened to approve the annual accounts for the financial year 2026, and (b) confirm her mandate in her capacity as independent member of the board of directors on the grounds that (i) Ms Godelieve Verplancke meets, and has declared that she meets, the independence criteria set out in article 7:87 of the BCCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, (ii) Ms Godelieve Verplancke has expressly declared that she does not maintain any relationship with the Company or any significant shareholder that could compromise her independence, and (iii) the board of directors has expressly declared that it has no indication of any element that could cast doubt on the independence of Ms Godelieve Verplancke within the meaning of article 7:87 of the BCCA. VOTING For: 70,043,653 Against: 1,145,582 Abstain: 18,115 On the proposal of the board of directors, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to (a) renew the mandate of Mr Bart Luyten as independent director for a period of one year ending after the general meeting to be convened to approve the annual accounts for the financial year 2026, and (b) confirm his mandate in his capacity as independent member of the board of directors on the grounds that (i) Mr Bart Luyten meets, and has declared that he meets, the independence criteria set out in article 7:87 of the BCCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, (ii) Mr Bart Luyten has expressly declared that he does not maintain any relationship with the Company or any significant shareholder that could compromise his independence, and (iii) the board of directors has expressly declared that it has no indication of any element that could cast doubt on the independence of Mr Bart Luyten within the meaning of article 7:87 of the BCCA. VOTING For: 70,059,396 Against: 1,145,725 Abstain: 2,156 On the proposal of the board of directors, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to (a) renew the mandate of Mr Volker Hammes as independent director for a period of one year ending after the general meeting to be convened to approve the annual accounts for the financial year 2026, and (b) confirm his mandate in his capacity as independent member of the board of directors on the grounds that (i) Mr Volker Hammes meets, and has declared that he meets, the independence criteria set out in article 7:87 of the BCCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, (ii) Mr Volker Hammes has expressly declared that he does not maintain any relationship with the Company or any significant shareholder that could compromise his independence, and (iii) the board of directors has expressly declared that it has no indication of any element that could cast doubt on the independence of Mr Volker Hammes within the meaning of article 7:87 of the BCCA. VOTING For: 71,153,413 Against: 51,785 Abstain: 2,145 Approval of remuneration of directors On the proposal of the board of directors, in accordance with the recommendation and advice of the Remuneration and Nomination Committee, the General Meeting resolves to approve the following remuneration, with effect as from 1 January 2026: All directorships shall be remunerated with a fixed fee of EUR 2,900 per quarter. Directors who are members of the Audit Committee shall receive an additional remuneration of EUR 1,450 per attended meeting. The chairman of the Audit Committee shall receive an additional quarterly amount of EUR 2,170. Directors who are members of the Remuneration and Nomination Committee shall receive an additional remuneration of EUR 1,450 per attended meeting. The chairman of the Remuneration and Nomination Committee shall receive an additional quarterly amount of EUR 720. VOTING For: 71,186,033 Against: 12,858 Abstain: 8,503 Powers The General Meeting resolves to grant of powers of attorney to Felix Theus, Emma Heijmans and Maja Frederix, each with authority to act alone and with right of substitution and without prejudice to any other authorisations applicable, for any filing and publication formalities required in connection with the foregoing resolutions. VOTING For: 71,184,878 Against: 13,862 Abstain: 8,587 All documents pertaining to the General Meeting, including the annual report, are available on Materialise's website at https://investors.materialise.com/shareholder-information/general-meetings. About Materialise Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com. [1] The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. CONTACT: Annual General Meeting Materialise [email protected]

Image source: The Motley Fool. Thursday, May 7, 2026 at 8:30 a.m. ET Chief Executive Officer — Brigitte de Vet-Veithen Chief Financial Officer — Koen Berges Brigitte de Vet, Chief Executive Officer; and Koen Berges, Chief Financial Officer. Today's call and webcast are being accompanied by a slide presentation that reviews Materialise's strategic, financial and operational performance for the first quarter of 2026. To access the slides, if you have not done so already, please go to the Investor Relations section of the company's website at www.materialise.com. The earnings press release that was issued earlier today can also be found on that page. Before we get started, I'd like to remind you that management may make forward-looking statements regarding the company's plans, expectations and growth prospects, among other things. These forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from the expectations expressed, including competitive dynamics and industry change. Any forward-looking statements, including those related to the company's future results and activities, represent management's estimates as of today and should not be relied on as representing their estimates as of any subsequent day. Management disclaims any duty to update or revise any forward-looking statements to reflect future events or changes in expectations. A more detailed description of the risks and uncertainties and other factors that may impact the company's future business or financial results can be found in the company's most recent annual report on Form 20-F filed with the SEC. Finally, management will discuss certain non-IFRS measures on today's conference call. A reconciliation table is contained in the earnings press release and at the end of the slide presentation. And now I would like to turn the call over to Brigitte de Vet. Brigitte? Brigitte de Vet-Veithen: Good morning, and good afternoon. Thank you, everyone, for joining us today. You can find the agenda for our call on Slide 3. First, I will summarize the business highlights for the first quarter of 2026. Then I will pass the floor to Koen, who will take you through the first quarter financials. And finally, I will come back and explain what we expect the remaining months of 2026 to bring. When we've completed our prepared remarks, we'll be happy to respond to questions. Moving to Slide 4 for the highlights of the first quarter 2026. As part of our growth strategy, we made decisive portfolio choices in the last quarter that strengthened both Materialise and the businesses involved. On March 31, we announced an agreement to transfer our RapidFit business to its management team. RapidFit is a specialized business that delivers custom 3D printed jigs, fixtures and quality control solutions, primarily for the automotive industry. RapidFit will continue as an independent company under the same leadership and under the RapidFit name, allowing the business to operate with greater focus and flexibility as it enters its next phase of growth. This step-up enables RapidFit to make decisions closer to its customers and markets while allowing Materialise to concentrate investment and leadership attention on our focus segments. Today, we are announcing a similar step for our eyewear activities. We have reached an agreement to transfer our eyewear business to its management team, allowing it to continue as an independent company. Eyewear is a highly specialized product-driven business serving as a distinct consumer market. The transfer will allow the new company to operate with greater focus and agility. Materialise will retain a minority stake in the newly formed eyewear company. For Materialise, this decision reflects the same strategic rationale, ensuring that the eyewear business operates in the environment where it can succeed best while we concentrate our capital and resources on our focus areas. All employees currently supporting the RapidFit and eyewear business will transition to the new companies. Both businesses were part of our Manufacturing segment. Financial terms will not be publicly disclosed. Turning now to the highlights in the Medical segment. Starting with our CMS market. In February, we expanded our cranio-maxillofacial portfolio with the addition of custom-made PEEK implants. PEEK is often favored by surgeons because its radiolucent nature means it does not appear on imaging the way medical implants do, enabling clearer postoperative scans. Until now, surgeons working with Materialise had Titanium as their patient-specific option. With this launch, they have an additional choice. The new offering integrates seamlessly into our existing digital workflow and completes our offering. Surgeons don't adopt a new process, a new platform or a new partner to access PEEK. And this demonstrates the power of Materialise's integrated digital ecosystem. It absorbs new clinical capabilities without adding complexity for the surgeon or the hospital. The custom-made PEEK implants are now available to surgeons across most European countries. Also in our orthopedics market, we launched OrthoView 3D Hip, completing our templating and planning portfolio to serve patients along the full patient continuum of hip surgery from standard primary hip interventions to more complex surgeries. OrthoView has long been helping surgeons plan procedures with precision based on X-ray imaging. With OrthoView 3D Hip, we are taking that platform beyond X-rays, moving from 2D to CT scan-based planning, enabling a far richer picture of the patient's anatomy before they even enter the operating room. Also in this case, surgeons do not need to adopt a different process, tool or a different partner and can serve all patients from the same Materialise ecosystem. What makes this launch particularly significant is that it reflects Materialise's unique ability to bring together capabilities from across our portfolio. OrthoView 3D Hip combines the deep orthopedic domain knowledge of OrthoView with the proven segmentation and anatomical modeling power of our Mimics technology. The result is a guided workflow that gives surgeons the confidence to plan every case with accuracy and precision. Both product launches showcase our innovative strength in mature market segments and underscore the position of our ecosystem in the medtech market. Turning to software now. Back in November, Materialise introduced 3 tailored CO-AM solutions to address the industry's growing need for workflow automation and interoperability, CO-AM Professional, CO-AM NPI and CO-AM Enterprise. Alongside these offerings, we also announced CO-AM Brix. CO-AM Brix puts our extensive software expertise in the hands of every user by making it easy to automate complex recurring processes and eliminate repetitive manual work without requiring advanced programming skills. In the first quarter, we ran an early access program with selected Magic customers, giving them hands-on experience with the CO-AM Professional offering of the CO-AM platform. At the start of the second quarter, we started a presales program for Magics customers approaching their renewal cycles. We now have 7 customers actively onboarding CO-AM Pro in May with full global availability expected from mid-June this year. CO-AM Professional is our cloud-based software for managing day-to-day 3D printing operations more efficiently. The Pro version is built for teams with multiple users running several machines across different production sites. It gives teams access to centralized AM data and share one source of truth across teams. It also enables easier collaboration across departments and allows users to run repeatable machine-agnostic operations, thereby helping customers grow their AM operations from a top use to repeatable production with less manual work. Also, in the first quarter, we continued to expand our partnerships. As a particular highlight, I would like to mention the collaboration with HP. At the recent RAPID + TCT Forum, HP unveiled the MJF 1200 3D printer. As part of this offering, Materialise Magics Print for HP will be included with every machine, ensuring users have access to professional build preparation and workflow capabilities from the start. The Magics Print for HP is a dedicated build preparation software that provides professional-grade tools for nesting, part orientation and build layout, enabling customers to prepare builds quickly and efficiently from day 1 and simplify the path from design to printed parts. Built on Materialise's proven software foundation, the solution is designed to grow with customers as their production needs evolve. The collaboration on the MJF 1200 continues the long-standing collaboration between HP and Materialise. At the same time, it gives Materialise broader access to the lower to mid-range market segments at which the MJF 1200 is targeted with its system price below $60,000. This aligns with the broader market shift where additive manufacturing is moving from specialized applications into more mainstream manufacturing workflows. The full solution will be available starting in early 2027. Before we move to the first quarter financials, I want to mention 2 other recent highlights. First, we published our first annual report following our listing on Euronext back in November. The annual report is a European reporting requirement and is now available on our investor website. Secondly, we completed our CSRD sustainability reporting, demonstrating strong progress on our sustainability commitments. I am proud to say that we exceeded our reduction targets for greenhouse gas emissions, achieving a total reduction of over 1,500 tons of CO2 across our operations over a rolling 2-year cycle. A couple of drivers contributed to this. We switched our standard PA 12 material used in selective laser sintering to a carbon-reduced version. This change became operational in the first quarter of 2025 and translated into an annual savings of over 450 tons of CO2. At our headquarters, the solar park built in 2025 now generates over 40% of the site's electricity needs, significantly reducing reliance on external energy sources and lowering Scope 3 emissions. Turning over to Koen now, who will present the financial results. Koen Berges: Thank you, Brigitte. Good morning or good afternoon to all of you on this call. I'll begin with a brief overview of our key financial results shown on Slide 6. In the first quarter, revenue was EUR 66.3 million, stable year-on-year despite significant foreign exchange headwinds. Gross profit increased to EUR 37.9 million, resulting in a gross margin of more than 57%, meaningfully up versus last year. We delivered strong improvement in profitability with an adjusted EBIT reaching EUR 2.5 million and corresponding to a 3.7% margin, demonstrating our ability to convert a stable revenue into a higher operating leverage. Net profit for the quarter was at EUR 1.8 million or EUR 0.03 per share. We also further strengthened our balance sheet. Free cash flow was positive, increasing our net cash position to EUR 72.8 million, up by EUR 2 million compared to the start of this quarter. I will now walk you through the results in more detail. As a reminder, unless stated otherwise, all comparisons are versus the first quarter of 2025. Slide 7 provides an overview of our consolidated revenue. In Q1 of 2026, said revenue remained stable at EUR 66.3 million despite the elevated geopolitical uncertainty and unfavorable foreign exchange movements, primarily driven by a weaker U.S. dollar versus last year. These ForEx impacts mainly affected our Medical and Software segments. Despite this, Materialise Medical revenue grew by 7% to EUR 33.2 million, while software revenues declined slightly by 1%. On a constant currency basis, Medical would have delivered double-digit growth again and Software would also have grown year-on-year. Manufacturing revenue declined by 8%, reflecting continued macroeconomic headwinds. As shown on the right-hand side, Medical represented 50%, our total revenue with Manufacturing at 35% and Software at 15%. Our deferred revenue balance for software maintenance and license fees coming from both medical and software further increased in Q1 to EUR 49 million. The total deferred revenue reported on the balance sheet stood at EUR 61 million at the end of the quarter. Turning to Slide 8. I'd like to highlight the progress we've made in profitability. In the first quarter of this year, adjusted EBITDA reached EUR 8 million, an increase of more than 30% year-on-year, resulting in an adjusted EBITDA margin of 12.1%. Adjusted EBIT improved sharply to EUR 2.5 million compared to EUR 0.6 million in the prior year quarter, resulting in a 3.7% adjusted EBITDA margin. With revenue stable, this margin expansion reflects disciplined cost management, operational efficiencies and a sharper focus on our core growth segments. Let me now turn to our business segments, starting with Materialise Medical shown on Slide 9. Medical revenue increased 7% year-on-year. Growth was driven primarily by Medical Devices, which grew 11%, supported by both direct and partner sales. Medical Software declined 3%, but was mainly due to unfavorable ForEx as a significant part of this revenue is invoiced in U.S. dollars. On a constant currency basis, a set Medical revenue as a whole grew 10%. Adjusted EBITDA increased to EUR 9.2 million, representing a 20% margin, while we continue to scale our R&D investments in our Medical segment, reflecting our commitment to driving future growth. Slide 10 summarizes the results of our Materialise Software segment. Software revenue decreased slightly by 1% to EUR 9.6 million, largely due again to foreign exchange. On a constant currency basis, revenue increased by 5%. We continued our transition towards a cloud-based subscription model. During the quarter, 83% of our software revenue was recurring compared to 81% a year ago. Despite the modest revenue decline, adjusted EBITDA increased significantly by 88% year-on-year to EUR 1.1 million, reflecting also here effective cost management and improved operating leverage. Now turning to Slide 11. We can see the Manufacturing segment. Manufacturing revenue declined 8% to EUR 23.5 million. However, revenue increased sequentially versus the prior 3 quarters, reflecting growth in our strategic focus areas, aerospace, defense and semicon. This further growth in series Manufacturing was offset by continued weakness in prototyping demand. Through disciplined cost control, adjusted EBITDA turned positive again, reaching now EUR 0.3 million despite the lower year-on-year revenue. With the segment results covered, Slide 12 outlines our consolidated income statement, showing the drivers behind our improved profitability. Gross profit increased to EUR 37.9 million with gross margin expanding to 57.2%, up from the 55.3% of last year. Operating expenses increased by just EUR 0.2 million or less than 1% year-on-year. R&D and sales and marketing expenses increased 4% and 2%, respectively, reflecting targeted investments, while at the same time, G&A declined by more than 6% due to ongoing cost discipline. Total R&D spending exceeded more than EUR 11 million for the quarter, with the majority being allocated to medical. Other operating income increased to EUR 0.9 million compared to EUR 0.4 million last year. As a result, operating profit reached EUR 2 million for the quarter. Net financial income was also positive by EUR 0.4 million, driven by currency effects, interest income on cash balances and interest expense on debt. Income tax expense was EUR 0.7 million. Altogether, we generated positive net results in the first quarter of this year, amounting to EUR 1.8 million, representing EUR 0.03 per share. And finally, let's review our balance sheet and cash flow position, which remains a key strength for Materialise on Slide 13. Our cash reserve at the end of the quarter amounted to EUR 133 million, while our gross debt was further reduced to EUR 60.1 million. The net resulting cash position increased to EUR 72.8 million, up by almost EUR 2 million compared to the beginning of this year, mainly driven by strong free cash flow. Compared to the balance sheet at year-end 2025, net working capital components increased by EUR 2.7 million, mainly driven by higher inventory levels of finished products and work in progress. Deferred income increased to EUR 61 million, including the EUR 49 million coming from software licenses and maintenance. As you can see from the graph on the right side of the page, the operating cash flow in the first quarter amounted to almost EUR 7 million and capital expenditures totaled EUR 1.5 million, reflecting limited nonrecurring investments in this quarter. As a result, free cash flow after investing activities was EUR 5.7 million. And with that, I'd like to hand the call back to Brigitte. Brigitte de Vet-Veithen: Thank you, Koen. Let's now turn to Page 14. I'll conclude my remarks with a discussion of our full year 2026 guidance. Notwithstanding the anticipated impact of the divestments of RapidFit and Eyewear, we reaffirm our full year revenue guidance for fiscal year 2026 in the range of EUR 273 million to EUR 283 million. In addition, we are also maintaining our adjusted EBIT guidance for fiscal year 2026 of EUR 10 million to EUR 12 million, reflecting our continued focus on execution discipline, cost management and capital allocation. As already mentioned during our previous earnings call in February, we expect macroeconomic and geopolitical uncertainty to persist throughout 2026. Nevertheless, we continue to have confidence in the strength and resilience of our underlying business fundamentals as the results of the first quarter of this year have demonstrated. The strategic repositioning initiatives, targeted investments and cost optimizations across our 3 business segments and our supporting staff departments are expected to progressively support improved operational performance and profitable growth. This concludes our prepared remarks. Operator, we're now ready to open the call to questions. Operator: [Operator Instructions] Our first question comes from the line of Alexander Craeymeersch with Kepler. Alexander Craeymeersch: Alexander from Kepler Cheuvreux. I have 3. I think the first one is rather getting a sort of big glimpse of how the end markets are moving with the current market turmoil, so we get a bit of a feeling of what to expect towards H2? And the second question would be on the Medical segment. Last time we discussed, I think you are quite confident that the margins in Medical would continue to grow or at least stay stable. So I'm a little bit surprised that the margins in Medical decreased 200 bps now. So could you maybe give a rational explanation for this? And then maybe a question that is somewhat related to this. Considering the high margins in Medical, do you see already some increased competition? And then the last question I had for the current guidance. Of course, you now divested 2 minor assets. But I'm just wondering whether the EUR 10 million to EUR 12 million in EBIT guidance, if that is based on the assumption that manufacturing is running at a negative EBITDA? Or is that at a positive EBITDA for the full year 2026? Brigitte de Vet-Veithen: Thanks, Alexander. I'll make an attempt at answering your first question and the second, and I'll point to Koen for your third question. So your question is on the end markets. So the picture on the end markets really varies. So there's a difference in the regional dynamics that we see. While we see some recovery in the U.S. markets at large, Europe is in a different place. So in Europe, the environment remains rather soft when it comes to our end markets. Now that is also particularly for the automotive industry that we still are highly active in. So the automotive industry in terms of end market remains soft, in particular in Europe, whereas we see other end markets that we are very exposed to improving sharply and continuing actually the positive dynamics that we've seen over the last couple of quarters. Think about aerospace. So in our aerospace market, we see further investments in our end markets that also benefit the additive industry, including us. Obviously, defense is another industry where budgets are being freed up now and where we see positive dynamics. So it's a very diverse picture where the U.S. market is showing a more positive trend than the European markets and where in end markets, we see a big difference on the one end of the spectrum, you see the positive side, the aerospace on the lower and softer dynamic. On the other end of the spectrum, you see the automotive industry. The health care market at large globally remains a healthy environment. The exception would be academic markets where we see primarily in the U.S., the impact of funding cuts that have been issued already last year and they continue in this year. Does that answer your first question? Alexander Craeymeersch: Yes, that does answer the first question. Maybe a small follow-up on the first question. Just could you give us a reminder on how big aerospace and defense is in the total portfolio? Brigitte de Vet-Veithen: I don't think we've disclosed the number in terms of the percentage of the total revenue. What I can say is that in the [indiscernible] dynamics, we've previously communicated in the last couple of quarters that our growth was higher than 20%, and we see that confirmed this quarter as well. Maybe then to shift to the Medical segment and your question on the margins. Maybe on the Medical segment at large, what we have previously communicated throughout 2025 for Medical was that what we see structurally as a healthy and sustainable growth rate and margin rate would be from a top line perspective, a low double-digit, high single-digit growth as a sustainable growth rate when we look over a couple of quarters. whereas we see the margins kind of hovering just under 30%. So the 28% margin that we showed this quarter are more or less according to that expectation. Obviously, with the ForEx impact, you never know exactly where you end. But it is consistent with what we thought for a first quarter previously. Remember that there's some seasonality in our Medical business, where the first quarter has a very different profile from the fourth quarter typically. So that's on your margin question. And then I mean, in the medical market, you pointed towards competitive trends and whether we see increased competition, there's always competition. We've had competition in a number of our Medical segments for a while. I don't see any dramatic changes in that competitive field. Obviously, we had and we still have a head start in those markets as we build many of these markets. But it's a competitive environment. And I don't see in the first quarter specifically any changes on that. As I said, in terms of the market environment, I think the change that we observed last year and continue to observe this year in the first quarter in an increased way is the funding cuts in the U.S. academic market. Now that's a smaller part of our business, but that's potentially the shift in market dynamics that is observably high. Does that answer your question? And then maybe turning to the last one on the guidance. Koen Berges: I will take that one, Alexander. You're correct in stating that both divestments that we did in our Manufacturing segment are on a consolidated level from a number point of view, not material. Nevertheless, that means that the divestments will put some pressure on our top line because we're losing that revenue. Now at this stage, we believe that we will be able to absorb that gap, and that's why we keep the guidance unchanged. On the other hand, there is, of course, also an impact on our bottom line, EBITDA, where we believe that impact will be positive, of course, over the longer term. Now where you asked on our projections for Manufacturing over 2026, we do believe indeed that the contribution of our Manufacturing EBITDA will become again positive in this year. Brigitte de Vet-Veithen: As we see now in the first quarter as well. Operator: [Operator Instructions] And I'm showing no further questions. So with that, I'll hand the call back over to management for any closing remarks. Brigitte de Vet-Veithen: Thanks again for joining us today. We look forward to continuing our dialogue with you through investor conferences or in one-on-one virtual meetings or calls. Now we would like to remind you that our second quarter earnings call will be shifted to the end of August, as is also mentioned on our financial calendar published on our investor website. This is mainly due to our dual listing status, whereby we want to align our second quarter earnings update with the more extensive half year reporting that is required from a European point of view. Now in the meantime, please reach out if you have any questions. Thank you, and goodbye for now. Operator: Ladies and gentlemen, thank you for participating. 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Interested in Materialise NV? Here are five stocks we like better. Q1 results: Revenue was EUR 66.3 million, essentially flat year‑over‑year despite FX headwinds, while gross margin expanded to 57.2%, adjusted EBITDA rose to EUR 8.0 million and the company ended the quarter with a net cash position of EUR 72.8 million and positive free cash flow; full‑year 2026 guidance was reaffirmed (EUR 273–283m revenue, EUR 10–12m adjusted EBIT). Portfolio moves: Materialise transferred its RapidFit and Eyewear businesses to their management teams (retaining a minority stake in Eyewear), calling the divestments “not material” to the consolidated business but noting they will reduce reported revenue. Product and software progress: Medical launched custom PEEK implants and OrthoView 3D Hip, while software momentum includes CO‑AM Professional onboarding and a collaboration with HP to bundle Materialise Magics Print with the new MJF 1200 system, with the full solution expected in early 2027. Materialise NVStock Bottom is Materializing Materialise (NASDAQ:MTLS) reported first-quarter 2026 revenue of EUR 66.3 million, which Chief Financial Officer Koen Berges said was stable year-over-year despite “significant foreign exchange headwinds,” primarily tied to a weaker U.S. dollar. Gross profit rose to EUR 37.9 million and gross margin expanded to 57.2%, helping drive improved profitability and positive free cash flow during the period. Chief Executive Officer Brigitte de Vet said the company made “decisive portfolio choices” intended to sharpen Materialise’s focus and allocate capital to core segments. She highlighted two transfers of businesses previously housed within the Manufacturing segment: RapidFit: On March 31, Materialise announced an agreement to transfer RapidFit to its management team. De Vet described RapidFit as a specialized provider of custom 3D-printed jigs, fixtures, and quality control solutions primarily for automotive customers. The business will continue under the RapidFit name and leadership. Eyewear: Materialise also reached an agreement to transfer its Eyewear business to its management team, allowing it to operate as an independent company. Materialise will retain a minority stake in the newly formed Eyewear company. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% De Vet said all employees supporting these businesses will transition to the new companies and that financial terms will not be publicly disclosed. Berges added later that, while the divestments are “not material” on a consolidated basis, they will reduce reported revenue; management believes the company can “absorb that gap” and therefore maintained its guidance. In Medical, de Vet pointed to two product launches. In February, Materialise expanded its cranio-maxillofacial (CMF) portfolio with custom-made PEEK implants. She said PEEK is often favored by surgeons because it is radiolucent, enabling clearer post-operative imaging compared to metal implants. The company previously offered titanium as its patient-specific option; with the new offering, surgeons can access PEEK “seamlessly” through the existing Materialise workflow. De Vet said the custom-made PEEK implants are now available across most European countries. → Light Speed Returns: Corning Cashes In on NVIDIA Growth In orthopedics, de Vet said Materialise launched OrthoView 3D Hip, completing its templating and planning portfolio for hip surgery. She described it as an expansion beyond X-ray-based planning into CT-based planning, allowing surgeons to plan with a more detailed view of patient anatomy. De Vet also emphasized that the product combines OrthoView orthopedic know-how with Mimics segmentation and anatomical modeling capabilities. On the Software side, de Vet reviewed the company’s CO-AM platform, including CO-AM Professional, CO-AM NPI, and CO-AM Enterprise, as well as CO-AM Brix, which she said is designed to automate recurring processes without requiring advanced programming skills. → Years in the Making, AMD’s Upside Movement Has Just Begun During the quarter, Materialise ran an early access program with selected Magics customers for CO-AM Professional. De Vet said that at the start of the second quarter the company began a pre-sales program for Magics customers approaching renewal cycles, and that seven customers were actively onboarding CO-AM Pro in May. Full global availability is expected in mid-June. She described CO-AM Professional as cloud-based software intended to help teams manage day-to-day 3D printing operations, centralize data across sites, and run repeatable machine-agnostic operations. De Vet also highlighted a collaboration with HP tied to HP’s MJF 1200 3D printer announced at RAPID + TCT. Materialise Magics Print for HP will be included with every machine, according to de Vet, providing build preparation tools such as nesting, part orientation, and build layout. She said the MJF 1200 targets the lower to mid-range market with a system price below EUR 60,000, and the full solution is expected to be available starting in early 2027. Berges said Q1 adjusted EBIT was EUR 2.5 million (a 3.7% margin), up from EUR 0.6 million a year earlier, while net profit was EUR 1.8 million, or EUR 0.03 per share. Adjusted EBITDA increased to EUR 8.0 million, up more than 30% year-over-year, for a 12.1% margin. By segment, Berges reported: Medical: Revenue grew 7% to EUR 33.2 million. Berges said medical devices revenue rose 11% supported by both direct and partner sales, while medical software declined 3% largely due to FX impacts because a significant portion is invoiced in U.S. dollars. On a constant-currency basis, he said Medical revenue grew 10%. Adjusted EBITDA was EUR 9.2 million, representing a 20% margin. Software: Revenue decreased 1% to EUR 9.6 million, which Berges attributed largely to FX; on a constant-currency basis, he said Software revenue increased 5%. The company continued shifting toward a cloud-based subscription model, with recurring revenue at 83% of software revenue versus 81% in the prior-year quarter. Adjusted EBITDA increased 88% to EUR 1.1 million. Manufacturing: Revenue declined 8% to EUR 23.5 million. Berges said revenue improved sequentially versus the prior three quarters, reflecting growth in “strategic focus areas” including aerospace, defense, and semiconductor, offset by continued weakness in prototyping demand. Adjusted EBITDA turned positive at EUR 0.3 million. On the consolidated income statement, Berges said gross margin rose to 57.2% from 55.3% a year earlier. Operating expenses increased by EUR 0.2 million, or less than 1%, with targeted increases in R&D and sales and marketing and a decline in G&A of more than 6% driven by cost discipline. Total R&D spending exceeded EUR 11 million, with the majority allocated to Medical. Other operating income increased to EUR 0.9 million from EUR 0.4 million, and operating profit reached EUR 2.0 million. Materialise ended the quarter with cash of EUR 133 million and gross debt of EUR 60.1 million, producing a net cash position of EUR 72.8 million, up nearly EUR 2 million from the start of the year. Berges said operating cash flow was almost EUR 7 million and capital expenditures were EUR 1.5 million, resulting in free cash flow after investing activities of EUR 5.7 million. De Vet reaffirmed full-year 2026 revenue guidance of EUR 273 million to EUR 283 million and adjusted EBIT guidance of EUR 10 million to EUR 12 million, despite the expected impact of the RapidFit and Eyewear divestments. She said the company expects macroeconomic and geopolitical uncertainty to persist throughout 2026, but expressed confidence in the “strength and resilience” of Materialise’s fundamentals. In the Q&A, de Vet described diverging end-market conditions, saying the U.S. is showing some recovery while Europe remains “rather soft,” particularly in automotive. She pointed to aerospace and defense as areas showing continued positive dynamics, and described healthcare as generally healthy, with an exception in academic markets where the company is seeing the impact of U.S. funding cuts. Berges also said the company expects Manufacturing EBITDA contribution to be positive for full-year 2026, noting that it was positive in the first quarter. De Vet added that Materialise’s second-quarter earnings call will be shifted to the end of August to align with half-year reporting requirements associated with its dual listing status. Materialise NV is a Belgium-based company specializing in 3D printing software and additive manufacturing services. Through its dual focus on software and printing, the company addresses a wide range of industries, including automotive, aerospace, consumer goods, and healthcare. Materialise's offerings span from design and simulation tools to end-to-end production, delivering both standardized and highly customized parts across polymer and metal platforms. On the software side, Materialise develops a suite of proprietary applications—such as Magics for data preparation, Mimics for medical image processing and patient-specific modeling, and Streamics for production workflow management. The article "Materialise Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Materialise transfers eyewear business to its management team Regulated information1 LEUVEN, Belgium, May 07, 2026--(BUSINESS WIRE)--Materialise NV (Euronext & NASDAQ:MTLS), a global leader in 3D-printed medical devices and software, and a pioneer in additive manufacturing software and services, today announced its financial results for the first quarter ended March 31, 2026. Additionally, Materialise announced the transfer of its eyewear business to the eyewear management team. Highlights – First Quarter 2026 Total revenue was stable at 66,276 kEUR for the first quarter of 2026 compared to 66,379 kEUR for the corresponding 2025 period. Gross profit as a percentage of revenue for the first quarter of 2026 increased to 57.2%, compared to 55.3% for the corresponding 2025 period. Adjusted EBIT increased to 2,470 kEUR for the first quarter of 2026 from 646 kEUR for the first quarter of 2025. Net result for the first quarter of 2026 was 1,820 kEUR, or 0.03 EUR per diluted share, compared to a net loss of (535) kEUR, or (0.01) EUR per diluted share, for the corresponding 2025 period. Driven by recurring positive free cash flow, our net cash position increased by 2,021 kEUR over the quarter to 72,826 kEUR, while 2,308 kEUR was invested in share buybacks, underscoring strong cash generation. CEO Brigitte de Vet-Veithen commented, "In a quarter where elevated geopolitical uncertainty and unfavorable foreign currency exchange movements weighed on our revenue growth, we improved operational profitability across all business segments through operational focus and continued cost control. We closed the quarter with positive operating and free cash flow and a further improved net cash position, reinforcing the strength of our balance sheet and providing us with the flexibility to continue investing in innovation and growth. Following the sale of our Rapidfit business at the end of March of this year, we have now also reached an agreement to transfer our eyewear activities to the business’s management team. We believe these decisive portfolio actions will allow Materialise to further concentrate capital and resources on its core focus areas, while enabling both Rapidfit and Eyewear to operate in a setup that will best support their next phase of growth." First Quarter 2026 Results Total revenue for the first quarter of 2026 was stable at 66,276 kEUR from 66,379 kEUR for the first quarter of 2025. Adjusted EBIT for the first quarter of 2026 increased to 2,470 kEUR compared to 646 kEUR for the 2025 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the first quarter of 2026 was 3.7%, compared to 1.0% for the first quarter of 2025. Adjusted EBITDA for the first quarter of 2026 increased to 8,049 kEUR compared to 6,147 kEUR for the 2025 period. Revenue from our Materialise Medical segment increased 6.7% to 33,165 kEUR for the first quarter of 2026 compared to 31,078 kEUR for the same period in 2025. Segment Adjusted EBITDA increased 2.1% to 9,235 kEUR for the first quarter of 2026 compared to 9,047 kEUR, while the segment Adjusted EBITDA margin was 27.8% compared to 29.1% for the first quarter of 2025. Revenue from our Materialise Software segment decreased 1.4% to 9,641 kEUR for the first quarter of 2026 from 9,775 kEUR for the same quarter last year. Segment Adjusted EBITDA increased 87.4% to 1,123 kEUR from 599 kEUR, while the segment Adjusted EBITDA margin increased to 11.6%, compared to 6.1% for the prior-year period. Revenue from our Materialise Manufacturing segment decreased 8.1% to 23,470 kEUR for the first quarter of 2026 from 25,526 kEUR for the first quarter of 2025. Segment Adjusted EBITDA increased to 281 kEUR compared to (377) kEUR, while the segment Adjusted EBITDA margin increased to 1.2% compared to (1.5)% for the first quarter of 2025. Gross profit increased 3.2% to 37,894 kEUR compared to 36,724 kEUR for the same period last year, while gross profit as a percentage of revenue increased to 57.2% compared to 55.3% for the first quarter of 2025. Research and development ("R&D"), sales and marketing ("S&M"), and general and administrative ("G&A") expenses remained stable, in the aggregate, at 36,713 kEUR for the first quarter of 2026 from 36,510 kEUR for the first quarter of 2025. Net other operating income was 909 kEUR compared to 360 kEUR for the first quarter of 2025. Operating result increased to 2,090 kEUR compared to 574 kEUR for the first quarter of 2025, while net financial result was 392 kEUR, compared to (875) kEUR for the first quarter of 2025. The first quarter of 2026 contained net tax expenses of (662) kEUR, compared to net tax expenses of (234) kEUR in the first quarter of 2025. As a result of the above, net profit for the first quarter of 2026 increased to 1,820 kEUR, compared to a net loss of (535) kEUR for the same period in 2025. Total comprehensive income for the first quarter of 2026, which includes exchange differences on translation of foreign operations, was 2,374 kEUR compared to (30) kEUR for the 2025 period. At March 31, 2026, we had cash and cash equivalents of 132,952 kEUR compared to 133,918 kEUR at December 31, 2025. Gross debt amounted to 60,126 kEUR, compared to 63,113 kEUR at December 31, 2025. As a result, our net cash position increased by 2,021 kEUR to 72,826 kEUR. At the end of the first quarter of 2026 Materialise had bought back 511,513 own shares for a total amount (excluding transaction cost) of 2,308 kEUR (2,722 kUSD) under the previously announced share buy-back program. Cash flow from operating activities for the first quarter of 2026 was 6,914 kEUR. Total cash out from capital expenditures for the first quarter of 2026 amounted to 1,470 kEUR resulting in a positive free cash flow. Net shareholders’ equity at March 31, 2026 was 255,595 kEUR compared to 255,482 kEUR at December 31, 2025. On April 23, 2026, Materialise released its 2025 Annual Report, including its CSRD report, outlining the integration of sustainability into its corporate strategy. With this integrated report we aim at providing transparency on our corporate matters, our financial performance in 2025 and on the initiatives we are taking to make a sustainable difference with additive manufacturing for a better and healthier world. The report is available on our corporate website or can be accessed directly through https://investors.materialise.com/financials/reports. Materialise to transfer eyewear business to its management team Today, Materialise announces it has reached an agreement to transfer its eyewear business to the business’s management team. We believe the transaction aligns with Materialise’s strategy to sharpen its portfolio and to further concentrate capital and resources on its core focus areas, while enabling both Rapidfit and Eyewear to operate in a setup that will best support their next phase of growth. Materialise will retain a minority stake in the newly formed eyewear company, reflecting its continued confidence in the business. All employees currently supporting the eyewear business will transition to the new company formed in connection with the transfer. The financial terms of the transaction were not publicly disclosed, and we expect to recognize impairment charges in the second quarter of 2026 related to the transaction. 2026 Guidance Mrs. de Vet-Veithen concluded, "As previously communicated in our guidance issued in February, we expect macro‑economic and geopolitical uncertainty to persist throughout fiscal year 2026. Nevertheless, we continue to have confidence in the strength and resilience of our underlying business fundamentals. The strategic repositioning initiatives and targeted investments across our three business segments are expected to progressively support operational performance and profitable growth. Notwithstanding the anticipated impact of the divestments of Rapidfit and Eyewear, we reaffirm our full‑year revenue guidance for fiscal year 2026 in the range of 273,000 to 283,000 kEUR. In addition, we are maintaining our Adjusted EBIT guidance for fiscal year 2026 of 10,000 to 12,000 kEUR, reflecting our continued focus on execution discipline, cost management, and capital allocation." Non-IFRS Measures Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance, including for purposes of monitoring compliance with financial covenants, supporting discussions with financing institutions, and meeting reporting requirements to our banks. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition expenses related to business combinations or divestiture-related expenses, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA and segment Adjusted EBITDA margin to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items. Exchange Rate This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1498, the reference rate of the European Central Bank on March 31, 2026. Conference Call and Webcast Materialise will hold a conference call and simultaneous webcast to discuss its financial results for the first quarter of 2026 on Thursday, May 7, 2026, at 8:30 a.m. ET/2:30 p.m. CET. Company participants on the call will include Brigitte de Vet-Veithen, Chief Executive Officer and Koen Berges, Chief Financial Officer. A question-and-answer session will follow management’s remarks. To access the call by phone, please click the link below at least 15 minutes prior to the scheduled start time and you will be provided with dial-in details. Participants can choose to dial in or receive a call to connect to Materialise’s conference call. https://register-conf.media-server.com/register/BI7e584baacee14013bd0ffd0406fb9ccd The conference call will also be broadcast live over the Internet with an accompanying slide presentation, which can be accessed on the company’s website at http://investors.materialise.com. The webcast of the conference call will be archived on the company's website for one year. About Materialise Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com. Cautionary Statement on Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for the current fiscal year’s revenue and Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, divestitures, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this press release, the words "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "forecast," "will," "may," "could," "might," "aim," "should," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the expectations of management under current assumptions at the time of this press release. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this press release. The company is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information. Consolidated income statements (Unaudited) Consolidated statements of comprehensive income (Unaudited) Consolidated statement of financial position (Unaudited) Consolidated statement of cash flows (Unaudited) Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited) Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT (Unaudited) Segment P&L (Unaudited) Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited) View source version on businesswire.com: https://www.businesswire.com/news/home/20260506559136/en/ Contacts Investor Relations Contact Harriet Fried Alliance Advisors Investor Relations 212.838.3777 [email protected]