Financial Data and Key Metrics Changes - In Q4 2025, consolidated revenue grew by 6.8% year-on-year, reaching EUR 70.2 million, with a gross profit margin of 58.1% [13][14] - Adjusted EBIT for Q4 was EUR 4 million, representing a margin of 5.7%, while net profit was EUR 6.2 million, more than double the previous year's figure [13][25] - The net cash position improved to EUR 70.8 million, an increase of over EUR 3 million compared to the prior quarter [14][25] Business Line Data and Key Metrics Changes - Materialise Medical segment revenue grew by over 16% in Q4, reaching EUR 37 million, driven by a 23% increase in medical devices and services revenue [15][20] - Software segment revenue remained stable at around EUR 11 million, with recurring revenue growing by 4% year-on-year [21] - Manufacturing segment revenue declined by 2% year-on-year to EUR 22.2 million, with a negative adjusted EBITDA of -EUR 2.2 million [22][23] Market Data and Key Metrics Changes - Materialise Medical accounted for 53% of consolidated revenue in Q4, while manufacturing contributed 31% and software 16% [15] - The company faced unfavorable foreign exchange effects, primarily from a weaker US dollar, impacting the top line [15] Company Strategy and Development Direction - The company aims to continue investing in the Materialise Medical and Software segments while maintaining disciplined cost control, particularly in Manufacturing [29] - A dual listing on Euronext Brussels was established to access a broader investor audience and enhance operational flexibility [5] Management Comments on Operating Environment and Future Outlook - Management expects the Materialise Medical segment to continue growing at a double-digit pace, while the Manufacturing segment may face ongoing macroeconomic headwinds [29] - The company anticipates revenue for 2026 to be in the range of EUR 273 million to EUR 283 million [29] Other Important Information - A share buyback program of up to EUR 30 million was announced, with acquisitions of 187,500 shares for just below $1 million to date [5] - The company has made significant R&D investments to support future growth in the Medical segment [20] Q&A Session Summary Question: Will manufacturing be down year-over-year? - Management confirmed that manufacturing is expected to be flat to down due to a weaker industrial climate, particularly in Europe [35][36] Question: What percentage of manufacturing is for prototyping applications? - The company has not disclosed this percentage but acknowledged that prototyping remains a significant part of the business [37] Question: Can costs be reduced to achieve EBITDA breakeven in manufacturing? - Management indicated a focus on segments with growth potential and unique capabilities, while also working on cost optimization in the manufacturing segment [38] Question: Was there a one-time cost in Q4 OpEx? - Management clarified that Q4 OpEx included non-recurring costs related to the Euronext listing, which should be excluded from baseline projections [39]

Financial Data and Key Metrics Changes - In Q4 2025, consolidated revenue grew by 6.8% year-on-year, reaching EUR 70.2 million [13] - Gross profit margin increased to EUR 40.8 million, representing 58.1% of revenue [13] - Adjusted EBIT was EUR 4 million, with a margin of 5.7% [13] - Net profit for the quarter was EUR 6.2 million, more than double the previous year's EUR 2.9 million [25] Business Line Data and Key Metrics Changes - Materialise Medical revenue grew by over 16% in Q4, accounting for 53% of consolidated revenue [15] - Software revenue remained stable at around EUR 11 million, with recurring revenue growing by 4% year-on-year [21] - Manufacturing revenue declined by 2% year-on-year to EUR 22.2 million, with a negative adjusted EBITDA of -EUR 2.2 million [22] Market Data and Key Metrics Changes - Materialise Medical segment represented 50% of total annual revenue for 2025, while manufacturing and software accounted for 35% and 15%, respectively [15] - The company faced unfavorable foreign exchange effects, primarily from a weaker US dollar, impacting top-line growth [15] Company Strategy and Development Direction - The company aims to continue investing in Materialise Medical and Software segments while maintaining cost control in Manufacturing [29] - A dual listing on Euronext Brussels was established to access a broader investor audience and enhance operational flexibility [5] - The focus will be on high-growth sectors like aerospace and defense, with expectations of continued growth in these areas [36] Management's Comments on Operating Environment and Future Outlook - Management expects macroeconomic headwinds to persist in the industrial market segments throughout 2026 [29] - The Materialise Medical segment is anticipated to grow at a double-digit pace, while the Software segment will complete its transition to a cloud-based model [29] - Manufacturing results are expected to be flat to down due to a weaker industrial climate, particularly in Europe [35] Other Important Information - The company announced a share buyback program of up to EUR 30 million, which started on January 26, 2026 [5] - Cash reserves at year-end increased to EUR 134 million, with a net cash position of EUR 17.8 million [25] Q&A Session Summary Question: Is manufacturing expected to be down year-over-year? - Management confirmed that manufacturing is expected to be flat to down due to the weaker industrial climate [35] Question: What percentage of manufacturing is for prototyping applications? - The company has not disclosed this percentage but acknowledged that prototyping remains a significant part of the business [37] Question: Can costs be reduced to achieve EBITDA breakeven in manufacturing? - Management indicated that they will continue to focus on cost optimization in manufacturing and overhead across the company [38] Question: Was there a one-time cost in Q4's operating expenses? - Management clarified that Q4 operating expenses included non-recurring costs related to the Euronext listing, which should be excluded from future projections [39]

Financial Data and Key Metrics Changes - In Q4 2025, consolidated revenue grew by 6.8% year-on-year, reaching EUR 70.2 million, with a gross profit margin of 58.1% [15][16] - Adjusted EBIT for Q4 was EUR 4 million, representing a margin of 5.7%, and net profit was EUR 6.2 million, more than double the previous year's figure [15][27] - The net cash position improved to EUR 70.8 million, an increase of over EUR 3 million compared to the prior quarter [16][27] Business Line Data and Key Metrics Changes - Materialise Medical segment revenue increased by over 16% in Q4, accounting for 53% of consolidated revenue, while manufacturing revenue declined by 2% and software revenue stabilized with a slight decline of 1% [17][20] - For the full year 2025, medical revenue totaled EUR 134 million, manufacturing revenue was EUR 92.5 million, and software revenue was EUR 41 million [17][23] Market Data and Key Metrics Changes - The medical segment's strong performance was driven by a 23% increase in medical devices and services revenue [20] - The manufacturing segment faced macroeconomic headwinds, particularly in prototyping, leading to a 13% decline in annual revenue [24] Company Strategy and Development Direction - The company aims to continue investing in the Materialise Medical and Software segments while maintaining cost control in the Manufacturing segment [31] - A dual listing on Euronext Brussels was established to access a broader investor audience and enhance operational flexibility [5] Management's Comments on Operating Environment and Future Outlook - Management expects the Materialise Medical segment to continue growing at a double-digit pace, while the Manufacturing segment may face ongoing macroeconomic challenges [31] - The company anticipates revenue for 2026 to be in the range of EUR 273 million to EUR 283 million [31] Other Important Information - The company announced a share buyback program of up to EUR 30 million, which started on January 26, 2026 [5] - The deferred revenue balance for software maintenance and license fees increased by EUR 3.5 million in Q4, ending at EUR 48.8 million [18] Q&A Session Summary Question: Is manufacturing expected to be down year-over-year? - Management confirmed that manufacturing is expected to be flat to down due to a weaker industrial climate, particularly in Europe [36] Question: What percentage of manufacturing is for prototyping applications? - The company has not disclosed the exact percentage but acknowledged that prototyping remains a significant part of the business [39] Question: Can costs be reduced to achieve EBITDA breakeven in manufacturing? - Management indicated that they will continue to focus on segments with growth potential and work on cost optimization in the manufacturing segment [40] Question: Was there a one-time cost in Q4 OpEx? - Management noted that Q4 OpEx included non-recurring costs related to the Euronext listing, which should be excluded from baseline projections [41]

Financial Data and Key Metrics Changes - Total revenue increased year-over-year by more than 4% to €66.4 million, while EBIT for Q1 2025 amounted to €0.6 million [24] - The net result for the quarter was a loss of €0.5 million or €0.01 per share, impacted by unfavorable exchange rate fluctuations [24][37] - Free cash flow was positive, reinforcing the net cash position to €67.7 million, an increase of almost €7 million compared to the beginning of the quarter [24][40] Business Line Data and Key Metrics Changes - Materialise Medical revenue grew almost 19%, driven by both Medical Software and Medical Devices sales, which increased by 14% and 21% respectively [26][29] - Software segment revenue decreased by 6% to €9.8 million due to revenue deferral, although more than 80% of Software revenue was recurring [31][56] - Manufacturing segment revenues decreased by 5.5% compared to Q1 2024, but increased by 12% compared to Q4 2024 [33] Market Data and Key Metrics Changes - Aerospace segment sales grew by 23% year-over-year, while industrial and automotive segments faced challenges [21][33] - The total deferred income position increased to €61 million, with €49 million related to Software licenses and maintenance contracts [40] Company Strategy and Development Direction - The company aims to cut absolute emissions by 55% by 2029 compared to the 2019 baseline, having already reduced emissions by 32% in 2024 [9][10] - Materialise is focusing on scaling additive manufacturing and enhancing software solutions to facilitate broader adoption [11][16] - The company is reassessing its involvement in the defense sector to strengthen its aerospace segment and create new opportunities [22] Management Comments on Operating Environment and Future Outlook - Management expects Q2 to be more challenging but anticipates stabilization in the second half of 2025, maintaining revenue guidance of €270 million to €285 million for the full year [43] - The current geopolitical landscape and macroeconomic conditions are expected to weigh on results, particularly in Q2 [43] Other Important Information - The company launched a clinical trial for a 3D-printed tracheal splint for infants, which could open new market opportunities [15] - Significant R&D investments continued, with over €11 million spent in Q1, primarily in the Medical segments [35] Q&A Session Summary Question: Impact of tariffs on Materialise - Management indicated that the U.S. manufacturing plant mitigates tariff impacts, while raw materials may be affected [48][50] Question: Q2 outlook - Management expects Q2 to be flat on the topline with uncertainty in the market, predicting pressure on the bottom line [52][54] Question: Software revenue performance - Software revenue was below €10 million for the first time since COVID, but over 80% of Software revenue is now recurring, indicating a positive trend [55][56]