Materialise(US:MTLS)2025-07-24 10:41Revenue Performance - Total revenue for Q2 2025 decreased by 5.8% to €64,831k from €68,797k in Q2 2024[4] - Revenue from the Materialise Medical segment increased by 16.7% to €32,850k compared to €28,141k in the same period last year[4] - Revenue from the Materialise Manufacturing segment decreased by 24.9% to €22,109k from €29,429k in Q2 2024[5] - For the six months ended June 30, 2025, total revenues were €131,210,000, slightly down from €132,434,000 in the same period of 2024[28] Profitability - Gross profit for Q2 2025 was €37,778k, with a gross profit margin of 58.3%, up from 57.0% in Q2 2024[5] - Net profit for Q2 2025 was €199k, a significant decrease from €3,875k in the same period last year[9] - Total comprehensive income for Q2 2025 was €823k, down from €3,093k in the corresponding 2024 period[20] - For the six months ended June 30, 2025, the net loss was €337,000 compared to a profit of €7,461,000 in the same period of 2024[23] - Adjusted EBIT for Q2 2025 was €3,058k, down from €3,872k in Q2 2024, with an Adjusted EBIT margin of 4.7% compared to 5.6%[13] - Adjusted EBITDA for the six months ended June 30, 2025, was €14,434,000, down from €17,283,000 in 2024, indicating a decrease of approximately 16.8%[25] Cash Flow and Financial Position - Cash flow from operating activities for Q2 2025 was negative €27k compared to positive €8,400k in Q2 2024[11] - Net cash flow from operating activities for the six months ended June 30, 2025, was €9,686,000, a decline from €18,370,000 in 2024[23] - Total cash and cash equivalents at the end of the period were €117,064,000, a decrease from €125,492,000 in 2024[24] - At June 30, 2025, cash and cash equivalents were €116,712k, an increase from €102,304k at December 31, 2024[10] Segment Performance - Adjusted EBITDA from the Materialise Medical segment increased to €10,728k, with a margin of 32.7%, up from 29.1% in Q2 2024[14] - Segment adjusted EBITDA for the Medical segment was €10,728,000 for Q2 2025, representing an increase of 30.8% from €8,199,000 in Q2 2024[28] - The Software segment reported adjusted EBITDA of €1,373,000 for Q2 2025, slightly down from €1,374,000 in Q2 2024, maintaining a stable performance[28] - The Manufacturing segment experienced a negative adjusted EBITDA of €807,000 in Q2 2025, compared to a positive €2,416,000 in Q2 2024[28] Assets and Liabilities - Total non-current assets amounted to €202.72 billion, with goodwill accounting for €43.24 billion[21] - Current assets totaled €201.65 billion, including inventories of €14.67 billion and cash and cash equivalents of €116.71 billion[21] - Total assets reached €404.38 billion, reflecting a strong financial position[21] Financial Expenses and Investments - Financial expenses increased to €6,770,000 for the six months ended June 30, 2025, compared to €2,241,000 in 2024[23] - Financial expenses for the three months ended June 30, 2025, increased to €4,039,000 from €1,441,000 in 2024, indicating a rise of 180%[29] - The company reported a significant increase in proceeds from loans and borrowings, totaling €20,000,000 for the six months ended June 30, 2025[24] - The company reported a net cash flow used in investing activities of €3,688,000 for the six months ended June 30, 2025, compared to €11,104,000 in 2024[24] Research and Development - Corporate research and development costs for the six months ended June 30, 2025, were €2,100,000, up from €1,763,000 in 2024, reflecting a 19% increase[29]