Materialise Registers 12% Revenue Growth In Q3 Backed By Segmental Momentum; Reiterates Guidance - Materi

Materialise NV (NASDAQ: MTLS) reported third-quarter FY22 revenue growth of 11.7% year-on-year to $56.8 million (€58.3 million), beating the consensus of $55.2 million. EPS was $0.02.
Revenue from Materialise Software segment increased 3.8% Y/Y to €10.9 million, Materialise Medical rose 13.1% to €21.4 million, and Materialise Manufacturing segment rose 14.1% to €26 million.
The gross margin contracted 450 bps to 55%. The adjusted EBITDA margin decreased by 1,000 bps to 8.7%.
Materialise held €150.6 million in cash and equivalents.
Executive Chairman Peter Leys commented, "Demand for the products and solutions of each of our three segments remained solid even in these uncertain macro-economic times."
Outlook: Materialise reiterated FY22 revenue, growing by at least 10% Y/Y. The company continues to expect consolidated adjusted EBITDA of €20 million - €25 million.
Price Action: MTLS shares traded lower by 3.42% at $10.46 on the last check Thursday.

To add Benzinga News as your preferred source on Google, click here.