Materialise Stock Gains On Strong Q2, Upbeat FY21 Guidance

  • Materialise NV MTLS reported second-quarter FY21 revenue growth of 33% year-on-year to €50.7 million. Revenue of $60.3 million beat the consensus of $58.76 million.
  • Revenue from Materialise Software segment increased 5.2% Y/Y to €10 million, Materialise Medical surged 49.5% to €17.5 million, and Materialise Manufacturing segment rose 38.7% to €23.3 million.
  • Gross profit increased 42.6%, and the gross margin expanded 380 bps to 56.1%.
  • The adjusted EBITDA margin expanded 480 bps to 13.7%.
  • EPS of $0.07 beat the analyst consensus for a loss of $(0.05).
  • It held €182.8 million in cash and equivalents as of June 30, 2021. The company generated €8.9 million in operating cash flow.
  • The solid Q2 results reflect the company's swift recovery from the COVID-19 crisis, Executive Chairman Peter Leys stated.
  • Outlook: The company expects the FY21 revenue to exceed its pre-pandemic level during 2019 (€197 million), with the likelihood of coming close to €200 million. It expects a strong Q4.
  • It expects Adjusted EBITDA for 2021 to reach up to €25 million.
  • Price action: MTLS shares traded higher by 3.09% at $21.37 in the premarket session on the last check Thursday.
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