MTLS

MKT CAP:$308M

Materialise N.V.

Market Cap

$308M

Technology·Software - Application·🇧🇪 Belgium·NASDAQ

Technology·Software App·🇧🇪·NASDAQ

Stock Price

$5.45+$0.00 (+0.00%)

Apr 22, 2026

Company Details

Materialise NV provides additive manufacturing and medical software, and 3D printing services in the Americas, Europe and Africa, and the Asia-Pacific. The company operates through three segments: Materialise Software, Materialise Medical, ...

CEO

Brigitte de Vet-Veithen

IPO Date

Jun 25, 2014

Website

www.materialise.com

Key Metrics TTM

Revenue

$311M

-0.2% YoY

Net Income

$10M

EPS (Diluted)

$0.16

Free Cash Flow

$3M

Revenue / Share

$5.27

Gross Margin

56.8%

Operating Margin

1.5%

Net Margin

3.3%

FCF Margin

1.0%

P/S

1.0x

P/E

30.2x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Dec 30, 2025

$301M-3.6%EPS $0.15

Q4 2025

Feb 19, 2026

$81M+5.8%EPS $0.11

Q2 2025

Jul 24, 2025

$76M-5.8%EPS $0.00

Q1 2025

Apr 24, 2025

$78M+4.3%EPS -$0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 18	$55M	$31M	$3M
Q4 18	$57M	$32M	$913.1K
Q1 19	$55M	$30M	$2M
Q2 19	$57M	$31M	$42.1K
Q4 19	$59M	$33M	$3M
Q3 21	$61M	$36M	$5M
Q4 21	$76M	$46M	$5M
Q4 22	$73M	$42M	-$2M
Q1 23	$77M	$43M	$6M
Q1 24	$74M	$42M	$3M
Q2 24	$80M	$46M	$4M
Q3 24	$80M	$46M	$5M
Q4 24	$77M	$43M	-$1M
Q1 25	$78M	$43M	$671.1K
Q2 25	$76M	$44M	$3M
Q4 25	$81M	$47M	$2M

Valuation

Quarter	P/S	P/E
Q3 18	1.5x	65.3x
Q4 18	1.4x	87.0x
Q1 19	1.4x	90.6x
Q2 19	1.4x	117.5x
Q4 19	1.3x	211.4x
Q3 21	1.3x	28.1x
Q4 21	1.2x	17.5x
Q4 22	1.1x	24.4x
Q1 23	1.1x	20.0x
Q1 24	1.0x	32.4x
Q2 24	1.0x	39.8x
Q3 24	1.0x	18.5x
Q4 24	1.0x	19.6x
Q1 25	1.0x	28.3x
Q2 25	1.0x	46.8x
Q4 25	1.0x	30.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 18	$8M	$351.9K
Q4 18	$12M	$7M
Q1 19	$5M	$992.6K
Q2 19	$6M	$2M
Q4 19	$7M	$2M
Q3 21	$5M	$1M
Q4 21	$10M	$6M
Q4 22	-$2M	-$8M
Q1 23	$13M	$9M
Q1 24	$12M	$8M
Q2 24	$10M	-$67.8K
Q3 24	$8M	-$536.7K
Q4 24	$7M	-$2M
Q1 25	$11M	$9M
Q2 25	-$31.6K	-$6M
Q4 25	$5M	$1M

Capital Expenditures

Quarter	CapEx
Q3 18	$8M
Q4 18	$5M
Q1 19	$4M
Q2 19	$4M
Q4 19	$4M
Q3 21	$4M
Q4 21	$4M
Q4 22	$6M
Q1 23	$4M
Q1 24	$3M
Q2 24	$10M
Q3 24	$9M
Q4 24	$9M
Q1 25	$2M
Q2 25	$6M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	+44.6%	+36.5%
Q4 18	+9.6%	+11.5%
Q1 19	+7.3%	+6.7%
Q2 19	+7.4%	+9.6%
Q4 19	+8.5%	+8.4%
Q3 21	+6.5%	-1.2%
Q4 21	+38.3%	+33.0%
Q4 22	+29.5%	+32.9%
Q1 23	+29.9%	+26.5%
Q1 24	+21.9%	+28.1%
Q2 24	+5.6%	+7.1%
Q3 24	+9.5%	+0.1%
Q4 24	-0.3%	+10.0%
Q1 25	+4.3%	+7.8%
Q2 25	-5.8%	-4.5%
Q4 25	+1.2%	+5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 18	$223.3K	0.4%
Q4 18	$605.6K	1.1%
Q1 19	-$206.9K	-0.4%
Q2 19	$437.3K	0.8%
Q4 19	-$312.2K	-0.5%
Q3 21	-$121.6K	-0.2%
Q4 21	$0	0.0%
Q4 22	-$22.2K	-0.0%
Q1 23	$0	0.0%
Q1 24	$83.0K	0.1%
Q2 24	$83.0K	0.1%
Q3 24	$83.0K	0.1%
Q4 24	$84.2K	0.1%
Q1 25	$84.2K	0.1%
Q2 25	$52.6K	0.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 18	$7M	$9M	$13M	—
Q4 18	$6M	$11M	$15M	—
Q1 19	$7M	$9M	$14M	—
Q2 19	$7M	$10M	$15M	—
Q4 19	$7M	$9M	$17M	—
Q3 21	$8M	$9M	$15M	—
Q4 21	$9M	—	—	$31M
Q4 22	$13M	$11M	$20M	—
Q1 23	$11M	$11M	$17M	—
Q1 24	$12M	$11M	$17M	—
Q2 24	$13M	$12M	$18M	—
Q3 24	$13M	$12M	$17M	—
Q4 24	$14M	$12M	$19M	—
Q1 25	$13M	$12M	$18M	—
Q2 25	$13M	$11M	$18M	—
Q4 25	$14M	—	—	$31M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 18	44.6%	14.6%	59.3
Q4 18	9.6%	6.4%	15.9
Q1 19	7.3%	13.8%	21.1
Q2 19	7.4%	9.8%	17.1
Q4 19	8.5%	12.8%	21.3
Q3 21	6.5%	19.0%	25.5
Q4 21	38.3%	20.1%	58.4
Q4 22	29.5%	-3.5%	26.0
Q1 23	29.9%	16.8%	46.7
Q1 24	21.9%	16.2%	38.2
Q2 24	5.6%	16.8%	22.4
Q3 24	9.5%	15.3%	24.8
Q4 24	-0.3%	6.6%	6.3
Q1 25	4.3%	12.0%	16.3
Q2 25	-5.8%	13.7%	7.9
Q4 25	1.2%	17.6%	18.9

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$198M	$0	$198M
Q2 22	$197M	$0	$197M
Q3 22	$176M	$0	$176M
Q4 22	$176M	$0	$176M
Q1 23	$166M	$0	$166M
Q2 23	$159M	$0	$159M
Q3 23	$157M	$0	$157M
Q4 23	$165M	$0	$165M
Q1 24	$151M	$0	$151M
Q2 24	$147M	$0	$147M
Q3 24	$136M	$0	$136M
Q4 24	$120M	$0	$120M
Q1 25	$122M	$0	$122M
Q2 25	$136M	$0	$136M
Q3 25	$132M	$0	$132M
Q4 25	$157M	$0	$157M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 18	52M	+10.3%	+10.6%
Q4 18	54M	+2.8%	+10.9%
Q1 19	53M	-1.6%	+11.5%
Q2 19	53M	0.0%	+11.5%
Q4 19	54M	+1.7%	+2.8%
Q3 21	59M	+9.6%	+9.6%
Q4 21	59M	+0.1%	+11.6%
Q4 22	59M	+0.1%	+11.7%
Q1 23	59M	+0.0%	+9.8%
Q1 24	59M	+0.0%	+0.2%
Q2 24	59M	-0.0%	+0.1%
Q3 24	59M	0.0%	-0.0%
Q4 24	59M	+0.1%	+0.1%
Q1 25	59M	-0.1%	-0.0%
Q2 25	59M	0.0%	0.0%
Q4 25	59M	0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 18	$3M	18
Q4 18	$3M	18
Q1 19	$3M	18
Q2 19	$3M	18
Q4 19	$30M	2
Q3 21	$31M	2
Q4 21	$38M	2
Q4 22	$37M	2
Q1 23	$39M	2
Q1 24	$37M	2
Q2 24	$40M	2
Q3 24	$40M	2
Q4 24	$38M	2
Q1 25	$39M	2
Q2 25	$38M	2
Q4 25	$41M	2

Revenue / Employee