Materialise (Nasdaq: MTLS) announced a significant second quarter for 2026, characterized by substantial revenue and profit growth. The Belgian 3D printing solutions provider experienced an 8.1% increase in revenue, reaching €70.1 million ($81.7 million), up from €64.8 million ($75.5 million) in the same period of the previous year. This financial uplift was propelled by the continued expansion of its Medical business and a resurgence in its Manufacturing segment, bolstered by heightened demand from the aerospace and defense sectors. The company’s strategic focus and cost management initiatives also contributed to a more impressive profit growth, with adjusted EBITDA climbing 15.7% to €9.6 million ($11.2 million) and net profit soaring to €3.3 million ($3.8 million), a stark contrast to the €199,000 ($231,826) recorded in Q2 2025.
This performance indicates a positive trend where profit is outpacing revenue growth, a testament to Materialise’s refined business portfolio and operational efficiencies. Executives highlighted these factors as key drivers behind the company’s strengthened financial position.
Aerospace and Defense Catalyze Manufacturing’s Return to Growth
A pivotal element of Materialise’s Q2 success was the strong performance of its Manufacturing segment. This division saw its revenue increase by 6.7% year-over-year, totaling €23.6 million. This marks a welcome return to growth after a dip in the first quarter of 2026, signaling a rebound in key industrial markets.
Management attributed this turnaround to a strategic focus on high-value markets, particularly aerospace and defense. The aerospace sector, in particular, demonstrated exceptional strength, with revenue from this area surging by an impressive 40% during the quarter. This surge suggests that companies within this industry are moving beyond the initial phases of adopting additive manufacturing (AM) and are actively seeking to integrate it at a larger, more scalable level.
During the earnings call, Materialise CEO Brigitte de Vet-Veithen elaborated on this trend, stating, "In the aerospace or defense segment, where the value of additive is well established, users already have a base of additive manufacturing. They now want to get to the next level, scale, do more and more parts with it. That’s where the NPI and the Enterprise capability come in. So those will be driving our growth going forward." This strategic alignment with the evolving needs of these industries is a key indicator of future growth potential for Materialise’s manufacturing solutions.
This robust growth in aerospace and defense helped to counterbalance a continued softness in demand for prototyping services. Materialise also showcased a significant collaboration with Lufthansa Technik, a leading provider of aircraft maintenance, repair, and overhaul (MRO) services. The company highlighted a successful project where Materialise redesigned a small, frequently failing aircraft cabin part that was difficult to source as a standalone component. By utilizing 3D printing, Lufthansa Technik can now print this part on demand, circumventing the need to replace a larger, more costly assembly. This successful partnership led to Materialise being recognized as an official workbench for Lufthansa Technik’s metal parts, underscoring the practical and economic advantages of AM in the aviation sector.
Further solidifying its position in the defense and security landscape, Materialise was selected by the Belgian Cyber Force and the Royal Higher Institute for Defence to spearhead the STRIKE-IT research consortium. This initiative is dedicated to advancing secure digital manufacturing of spare parts, leveraging Materialise’s proprietary Identify3D and CO-AM technologies. The focus on secure digital manufacturing addresses a critical need for robust supply chains, particularly for defense applications where intellectual property protection and supply chain integrity are paramount. This project not only highlights the advanced capabilities of Materialise’s software suite but also its role in shaping the future of secure and resilient manufacturing.
The Manufacturing segment is also showing promising progress towards profitability. In Q2 2026, it reported an adjusted EBITDA loss of €285,000 ($332,005), a significant improvement from the €807,000 ($940,098) loss recorded in the same quarter of the previous year. This narrowing of losses suggests that the operational efficiencies and strategic market focus are beginning to yield financial benefits.
Medical Continues to Be Materialise’s Primary Growth Engine
The Medical segment maintained its status as Materialise’s largest and most dynamic business unit. In the second quarter of 2026, revenue from this sector grew by an impressive 12.2%, reaching €36.9 million ($43 million). This sustained double-digit growth rate is a key indicator of the company’s strong position in the personalized healthcare market.
During the earnings call, CEO Brigitte de Vet-Veithen expressed confidence in the sustainability of this growth trajectory. She stated, "I have previously always said that the structural growth rate for Medical is double-digit, but low double digits. Reasonably, a sustainable growth number that I would expect for Medical is around 10%, which is essentially what you see for the first half of this year. That is absolutely sustainable." This outlook suggests that Materialise anticipates continued strong performance in its medical division, driven by fundamental market trends and its established expertise.
While the Medical segment as a whole performed exceptionally well, there were nuances within its sub-sectors. Management indicated that medical devices and services experienced robust growth, whereas the medical software arm saw a softer performance. This disparity was partly attributed to reduced demand from U.S. academic institutions, a consequence of cutbacks in research grants. Additionally, changes in reimbursement policies for certain orthopedic procedures also impacted revenue in this area.
Materialise remains committed to investing in personalized medical applications, a strategy that continues to pay dividends. During the quarter, the company made a strategic investment in Replasia, a Belgian medtech startup focused on developing personalized 3D printed solutions and anatomical analysis software for hip preservation. This investment expands Materialise’s engagement in the hip market, moving beyond traditional replacement procedures to encompass treatments aimed at preserving a patient’s natural anatomy. This forward-looking approach aligns with the growing trend towards less invasive and more personalized medical interventions, positioning Materialise at the forefront of innovation in this field.
The Materialise Software segment was the sole business unit to report a decline in revenue during Q2 2026, with a 2.7% decrease to €9.6 million ($11.2 million). Despite this dip, approximately 86% of the software revenue was recurring, providing a stable base. A notable development in this segment was the early launch of CO-AM Pro in May, one month ahead of schedule. This cloud-based platform integrates Materialise’s Magics software with advanced data management and build preparation tools, enhancing the user experience and streamlining the additive manufacturing workflow.
Addressing the strategic importance of their software offerings, de Vet-Veithen highlighted the role of upcoming products: "In particular, NPI and Enterprise for us will be growth drivers. Why? Because we position those in segments where companies have understood the value of additive manufacturing and are now in need of capabilities to help them scale." This strategic positioning of their software solutions is designed to capture market share as more industrial players seek to scale their AM operations.
A More Focused and Streamlined Materialise
In line with its strategy to concentrate on core competencies, Materialise has been actively divesting non-core business units. In April 2026, the company sold its RapidFit business to its management team, allowing it to operate as an independent entity. Subsequently, in July, Materialise transferred its eyewear business to its management team while retaining a 20% stake in the newly formed company. These strategic divestitures allow Materialise to allocate resources more effectively towards its high-growth segments.
Despite the revenue reduction from these divested businesses, Materialise maintained its revenue forecast for the full year 2026, projecting between €273 million ($318 million) and €283 million ($329.8 million). For the first half of 2026, the company reported a 3.9% increase in revenue to €136.3 million ($159 million). The net profit for the first half reached €5.2 million ($6 million), a significant turnaround from the €337,000 ($392,692) loss recorded in the corresponding period of the previous year.
Furthermore, Materialise revised its profitability outlook upwards. The company now anticipates adjusted EBIT to be between €12 million ($14 million) and €14 million ($16.3 million) for 2026, an increase from its prior forecast of €10 million ($11.7 million) to €12 million ($14 million). Management attributed this improved profitability outlook to recent cost reduction initiatives, with expectations that these savings will continue to contribute to the bottom line. This proactive approach to cost management, coupled with strategic growth initiatives, positions Materialise for continued financial success in the evolving additive manufacturing landscape. The company’s ability to navigate market dynamics, invest in innovation, and streamline its operations underscores its resilience and strategic vision for the future.
