Materialise Shares Jump As Pandemic Recovery Aids Q3 Revenue Growth

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  • Materialise NV MTLS reported third-quarter FY21 revenue growth of 28% year-on-year to $60.4 million (€52.2 million) missed the consensus of $61.1 million. EPS was $0.17.
  • Revenue from Materialise Software segment increased 10.4% Y/Y to €10.5 million, Materialise Medical rose 10.2% to €18.9 million, and Materialise Manufacturing segment rose 61.2% to €22.8 million.
  • Gross profit increased 33.4%, and the gross margin expanded 240 bps to 59.5%. The adjusted EBITDA margin expanded 390 bps to 18.7%.
  • Materialise held €194.9 million in cash and equivalents. It generated €17.5 million in operating cash flow during the nine months ended September 30.
  • "While the COVID-19 pandemic lingers on in certain parts of the world, our record third quarter results show that Materialise is coming out of this crisis stronger than before," said Executive Chairman Peter Leys.
  • The company plans to introduce new product upgrades at next month's Formnext in Frankfurt.
  • Outlook: Materialise expects FY21 revenues to reach the higher end of €197 million - €200 million. It raised the Adjusted EBITDA outlook from €25 million to €28 million.
  • Price Action: MTLS shares traded higher by 11.3% at $24.63 on the last check Thursday.
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