Materialise(MTLS) - 2025 Q1 - Quarterly Report

Revenue Performance - Total revenue for Q1 2025 increased by 4.3% to 66,379 kEUR from 63,637 kEUR in Q1 2024[4] - Materialise Medical segment revenue grew by 18.7% to 31,078 kEUR compared to 26,183 kEUR in the same period last year[5] - Revenue for Q1 2025 reached $71.789 million, a 12.5% increase from $63.637 million in Q1 2024[25] - Segment revenues for Medical, Software, and Manufacturing were $31.078 million, $9.775 million, and $25.526 million respectively in Q1 2025[33] Profitability Metrics - Adjusted EBIT for Q1 2025 was 646 kEUR, down from 2,656 kEUR in Q1 2024, with an Adjusted EBIT margin of 1.0% compared to 4.2%[4] - Gross profit increased by 2.2% to 36,724 kEUR, with a gross profit margin of 55.3% compared to 56.5% in Q1 2024[8] - Gross profit for Q1 2025 was $39.717 million, with a gross profit margin of 55.3%, down from 56.5% in Q1 2024[25] - Adjusted EBITDA for Q1 2025 was $6.147 million, down from $8.094 million in Q1 2024[31] - Materialise Software segment revenue decreased by 6.4% to 9,775 kEUR, with Adjusted EBITDA down 45.1% to 599 kEUR[6] - Materialise Manufacturing segment revenue fell by 5.5% to 25,526 kEUR, resulting in an Adjusted EBITDA of (377) kEUR[7] Financial Position - Total deferred revenues increased by 1,921 kEUR to 48,870 kEUR during the quarter[11] - Net cash position improved by 6,716 kEUR to 67,736 kEUR, driven by positive free cash flow[11] - Cash flow from operating activities for Q1 2025 was 9,713 kEUR, compared to 9,970 kEUR in Q1 2024[14] - Total assets as of March 31, 2025, were $390.454 million, a decrease from $396.336 million as of December 31, 2024[27] - Cash and cash equivalents at the end of Q1 2025 were $104.180 million, an increase from $102.304 million at the beginning of the year[30] - The company reduced its loans and borrowings to $9.502 million in current liabilities as of March 31, 2025, down from $10.383 million at the end of 2024[28] Loss and Expenses - Net loss for the period was $579,000, compared to a net profit of $3.585 million in Q1 2024[26] - The company reported a financial expense of $2.998 million in Q1 2025, significantly higher than $798,000 in Q1 2024[25] - Total comprehensive loss for Q1 2025 was $33,000, compared to a total comprehensive income of $3.312 million in Q1 2024[26] Guidance - Full fiscal year 2025 revenue guidance remains at 270,000 to 285,000 kEUR, with Adjusted EBIT guidance of 6,000 to 10,000 kEUR[16]