Materialise has another good quarter with + 11.7% increase in revenues

Materialise – a leading Belgian supplier of software for additive manufacturing, medical software and 3D printing services, published its results for Q3 2022. The company’s revenues increased by + 11.7% year-on-year to EUR 58.3 million. However, the net profit was lower and amounted to EUR 1.4 million, compared to EUR 8.7 million for the corresponding period in 2021.

Revenues from the software segment increased by + 3.8% to EUR 10.9 million. EBITDA was lower due to ongoing investments in Link3D and Identify3D. Revenues from the Materialise Medical segment increased by + 13.1% to EUR 21.4 million. In turn, revenues from the Materialise Manufacturing segment increased by + 14.1% to EUR 26 million. Gross profit amounted to EUR 32 million and was EUR 1 million higher than in the previous year.

At the same time, the company’s costs of research and development (“R&D”), sales and marketing (“S&M”) and general and administrative expenses (“G&A”) increased quite significantly, totaled EUR 33.5 in the third quarter of 2022, which is + 24.5% increase compared to the third quarter of 2021

This is the financial performance of Materialise as commented by the company’s president, Peter Leys: “Demand for products and solutions in each of our three segments remained high even in these uncertain macroeconomic times. Materialise revenues increased by almost 12% compared to the same period last year, and deferred revenues from annual software sales and service fees increased by almost 10% compared to December 31, 2021. Our results included operational investments in Identify3D, developer of AM cloud security, which we acquired on September 1, 2022. “

Source: www.materialise.com