Materialise Q1 Revenue Soars 24.4% YoY, Beating Estimates With Strong Segment Growth

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Materialise NV MTLS reported first-quarter FY23 revenue growth of 24.4% year-on-year to $71.65 million (€65.89 million), beating the consensus of $65.89 million.

  • EPS of $0.07 beat the consensus loss of $(0.08).
  • Revenue from Materialise Software segment increased 8.3% Y/Y to €11.35 million, Materialise Medical rose 32.5% to €24.32 million, and Materialise Manufacturing segment rose 25.2% to €30.22 million.
  • The gross margin expanded by 140 bps to 55.9%. The adjusted EBITDA margin increased by 530 bps to 15.6%.
  • Materialise held €141.72 million in cash and equivalents. 
  • Executive Chairman Peter Leys commented, saying, "Our consolidated revenues increased more than 24%, boosted by the very strong growth of Materialise Medical and Materialise Manufacturing revenues, by 33% and 25%, respectively, and further supported by a solid revenue uptake at Materialise Software of more than 8%. During the quarter, our Adjusted EBITDA increased 89% to 10,310 kEUR, mainly because of scaling effects."
  • Outlook: Materialise expects FY23 revenue to be closer to the high end of initial guidance of €255 million - €260 million.

Price Action: MTLS shares traded higher by 12.8% at $8.79 on the last check Thursday.

Now Read: Microsoft's Mega Paychecks: Staggering Pre-Layoff Salaries Of Managers, Analysts, And Engineers

 

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Posted In: EarningsNewsGuidanceSmall CapTechBriefs
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