6-K 1 tm2628474d2_6k.htm FORM 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of October 2026

 

Commission File Number: 001-36515

 

 

Materialise NV

 

 

Technologielaan 15

3001 Leuven

Belgium

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x Form 40-F ¨

 

This Form 6-K is incorporated by reference into the registrant’s Registration Statement on Form F-3 (File No. 333-213649).

 

 

 

 

 

Third Quarter 2026 Results

 

Except as otherwise required by the context, references to “Materialise,” “Company,” “we,” “us,” and “our” are to Materialise NV and its subsidiaries.

 

Third Quarter 2026 Financial Results

 

Total revenue for the third quarter of 2026 increased by 2.1% to 67,670 kEUR from 66,259 kEUR for the third quarter of 2025.

 

Revenue from our Materialise Medical segment increased 9.7% to 36,542 kEUR for the third quarter of 2026 compared to 33,296 kEUR for the same period in 2025.

 

Revenue from our Materialise Software segment was 9,864 kEUR for the third quarter of 2026 compared to 10,286 kEUR for the same quarter last year.

 

Revenue from our Materialise Manufacturing segment was 21,266 kEUR for the third quarter of 2026 compared to 22,677 kEUR for the third quarter of 2025.

 

Gross profit increased 3.7% to 39,035 kEUR for the third quarter of 2026 compared to 37,651 kEUR for the same period last year. Gross profit as a percentage of revenue was 57.7% compared to 56.8% for the third quarter of 2025.

 

Research and development (“R&D”), sales and marketing (“S&M”), and general and administrative (“G&A”) expenses increased, in the aggregate, by 7.8% to 38,830 kEUR for the third quarter of 2026 from 36,019 kEUR for the third quarter of 2025 mainly driven by 11.9% higher R&D spend.

 

Net other operating income was 1,137 kEUR compared to 890 kEUR for the third quarter of 2025.

 

Net operating income in the third quarter of 2026 includes non-recurring charges of 184 kEUR from the impairment of inventory related to the transfer of the Eyewear assets.

 

Operating profit was 1,343 kEUR for the third quarter of 2026, compared to 2,522 kEUR for the third quarter of 2025.

 

Net financial result was 160 kEUR for the third quarter of 2026, compared to (121) kEUR for the third quarter of 2025.

 

The third quarter of 2026 contained net tax expenses of (120) kEUR, compared to net tax expenses of (553) kEUR in the third quarter of 2025.

 

As a result of the above, net profit for the third quarter of 2026 was 1,383 kEUR, compared to 1,848 kEUR for the same period in 2025.

 

Cash flow from operating activities for the third quarter of 2026 amounted to 9,666 kEUR compared to 10,359 kEUR for the same period in 2025. Total cash used for capital expenditures for the third quarter of 2026 amounted to 2,146 kEUR and free cash flow after operating and investing activities was 11,419 kEUR.At September 30, 2026, cash and cash equivalents increased to 153,529 kEUR from 133,918 kEUR at December 31, 2025.

 

Gross debt increased to 71,056 kEUR from 63,113 kEUR at December 31, 2025. As a result, our net cash position increased by 11,668 kEUR to 82,473 kEUR compared to 70,805 kEUR as of December 31, 2025. At the end of the third quarter of 2026 Materialise had repurchased 1,426,784 own shares for a total amount (excluding transaction cost) of 7,482 kEUR (8,698 kUSD) under its previously announced share buy-back program.

 

Net shareholders' equity at September 30, 2026 increased to 255,809 kEUR compared to 255,482 kEUR at December 31, 2025.

 

Adjusted EBIT amounted to 2,485 kEUR for the third quarter of 2026 compared to 2,918 kEUR for the 2025 period. The Adjusted EBIT margin (Adjusted EBIT divided by total revenue) for the third quarter of 2026 was 3.7%, compared to 4.4% for the third quarter of 2025. Adjusted EBITDA for the third quarter of 2026 amounted to 8,046 kEUR compared to 8,428 kEUR for the 2025 period.

 

 

 

 

Adjusted EBITDA from our Materialise Medical segment amounted to 10,015 kEUR for the third quarter of 2026 compared to 10,199 kEUR for the corresponding period in 2025, while the Adjusted EBITDA margin for the segment (segment Adjusted EBITDA divided by segment revenue) was 27.4% compared to 30.6% for the third quarter of 2025.

 

Adjusted EBITDA from our Materialise Software segment amounted to 1,463 kEUR for the third quarter of 2026 compared to 1,801 kEUR for the corresponding period in 2025, while the Adjusted EBITDA margin for the segment was 14.8% compared to 17.5% for the prior-year period.

 

Adjusted EBITDA from our Materialise Manufacturing segment improved to (257) kEUR for the third quarter of 2026 compared to (845) kEUR for the same period in 2025, while the Adjusted EBITDA margin for the segment was (1.2)% compared to (3.7)% for the third quarter of 2025.

 

Non-IFRS Measures

 

Materialise uses EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA as supplemental financial measures of its financial performance, including for purposes of monitoring compliance with financial covenants, supporting discussions with financing institutions, and meeting reporting requirements to our banks. EBIT is calculated as net profit plus income taxes, financial expenses (less financial income) and shares of profit or loss in a joint venture. EBITDA is calculated as net profit plus income taxes, financial expenses (less financial income), shares of profit or loss in a joint venture and depreciation and amortization. Adjusted EBIT and Adjusted EBITDA are determined by adding to EBIT and EBITDA, respectively (i) share-based compensation expenses, (ii) acquisition expenses related to business combinations or divestiture-related expenses, (iii) impairments and revaluation of fair value due to business combinations and (iv) costs incurred in relation to corporate initiatives, restructurings or reorganizations that are of a non-recurring nature. Management believes these non-IFRS measures to be important measures as they exclude the effects of items which primarily reflect the impact of financing decisions and, in the case of EBITDA and Adjusted EBITDA, long term investment, rather than the performance of the company’s day-to-day operations. The company also uses segment Adjusted EBITDA and segment Adjusted EBITDA margin to evaluate the performance of its three business segments. As compared to net profit, these measures are limited in that they do not reflect the cash requirements necessary to service interest or principal payments on the company’s indebtedness and, in the case of EBITDA and Adjusted EBITDA, these measures are further limited in that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the company’s business, or the changes associated with impairments. Management evaluates such items through other financial measures such as financial expenses, capital expenditures and cash flow provided by operating activities. The company believes that these measurements are useful to measure a company’s ability to grow or as a valuation measurement. The company’s calculation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be considered as alternatives to net profit or any other performance measure derived in accordance with IFRS. The company’s presentation of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA should not be construed to imply that its future results will be unaffected by unusual or non-recurring items.

 

Exchange Rate

 

This document contains translations of certain euro amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from euros to U.S. dollars in this document were made at a rate of EUR 1.00 to USD 1.1355, the reference rate of the European Central Bank on September 30, 2026.

 

 

 

 

About Materialise

 

Materialise NV incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Our open, secure, and innovative end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise NV combines the largest group of software developers in the industry with one of the world's largest and most complete 3D printing facilities. For additional information, please visit: www.materialise.com.

 

Consolidated income statements (Unaudited)

 

   for the three months ended
September 30,
   for the nine months ended
September 30,
 
In '000  2026   2026   2025   2026   2025 
   U.S.$   €   €   €   € 
Revenue  76,840   67,670   66,259   204,020   197,469 
Cost of Sales  (32,515)  (28,635)  (28,608)  (87,314)  (85,298)
Gross Profit  44,324   39,035   37,651   116,705   112,171 
Gross profit as % of revenue  57.7%  57.7%  56.8%  57.2%  56.8%
                     
Research and development expenses  (14,540)  (12,805)  (11,439)  (37,008)  (33,973)
Sales and marketing expenses  (17,670)  (15,561)  (14,847)  (46,206)  (45,386)
General and administrative expenses  (11,882)  (10,464)  (9,733)  (30,087)  (29,506)
Net other operating income/(expense)  1,292   1,137   890   2,813   2,519 
Operating profit (loss)  1,524   1,343   2,522   6,218   5,825 
                     
Financial expenses  (1,281)  (1,128)  (582)  (2,699)  (7,393)
Financial income  1,463   1,289   460   3,494   3,345 
Profit (loss) before taxes  1,706   1,503   2,401   7,012   1,777 
                     
Income tax benefit/(expense)  (136)  (120)  (553)  (478)  (266)
Net profit (loss) for the period  1,570   1,383   1,848   6,535   1,510 
Net profit (loss) attributable to:                    
The owners of the parent  1,562   1,376   1,848   6,527   1,512 
Non-controlling interest  8   7   -   7   (2)
                     
Earnings per share attributable to owners of the parent                    
Basic  0.03   0.02   0.03   0.11   0.03 
Diluted  0.03   0.02   0.03   0.11   0.03 
                     
Weighted average basic shares outstanding  57,839   57,839   59,067   58,334   59,067 
Weighted average diluted shares outstanding  58,061   58,061   59,067   58,397   59,071 

 

 

 

 

Consolidated statements of comprehensive income (Unaudited)

 

   for the three months ended
September 30,
  for the nine months ended
September 30,
 
In 000€  2026  2026  2025  2026  2025 
   U.S.$  €  €  €  € 
Net profit (loss) for the period  1,570  1,383  1,848  6,535  1,510 
Other comprehensive income/(loss)                
Items that are or may be reclassified subsequently to profit or loss                
Exchange difference on translation of foreign operations  16  14  38  270  1,167 
Exchange differences resulting from net investment in foreign operations  69  61  -  598  - 
Other comprehensive income/(loss), net of taxes  85  75  38  868  1,167 
Total comprehensive income/(loss), net of taxes  1,656  1,458  1,885  7,403  2,677 
Total comprehensive income/(loss) attributable to:                
The owners of the parent  1,649  1,452  1,886  7,401  2,670 
Non-controlling interests  7  6  (0) 1  7 

 

 

 

 

Consolidated statement of financial position (Unaudited)

 

   As of
September 30,
   As of
December 31,
 
In 000€  2026   2025 
Assets          
Non-current assets          
Goodwill   43,230    43,161 
Intangible assets   22,217    25,639 
Property, plant & equipment   110,301    112,854 
Right-of-Use assets   5,688    5,429 
Deferred tax assets   4,122    3,971 
Investments in convertible loans   410    - 
Investments in non-listed equity instruments   8    - 
Other non-current assets   10,623    5,983 
Total non-current assets   196,599    197,038 
Current assets          
Inventories   17,418    14,904 
Trade receivables   48,783    54,938 
Other current assets   13,247    15,533 
Cash and cash equivalents   153,529    133,918 
Assets held for sale   -    4,314 
Total current assets   232,977    223,607 
Total assets   429,576    420,646 

 

 

 

 

   As of
September 30,
   As of
December 31,
 
In 000€  2026   2025 
Equity and liabilities          
Equity          
Share capital   4,487    4,487 
Share premium   203,895    203,895 
Treasury shares   (7,507)   - 
Retained earnings and other reserves   55,013    47,180 
Equity attributable to the owners of the parent   255,888    255,562 
Non-controlling interest   (79)   (80)
Total equity   255,809    255,482 
Non-current liabilities          
Loans & borrowings   59,215    49,726 
Lease liabilities   3,293    3,063 
Deferred tax liabilities   2,343    2,660 
Deferred income   15,800    17,344 
Other non-current liabilities   483    486 
Total non-current liabilities   81,134    73,280 
Current liabilities          
Loans & borrowings   5,947    7,759 
Lease liabilities   2,601    2,565 
Trade payables   20,927    20,125 
Tax payables   464    748 
Deferred income   43,359    43,523 
Other current liabilities   19,334    16,362 
Liabilities held for sale   -    802 
Total current liabilities   92,633    91,884 
Total equity and liabilities   429,576    420,646 

 

 

 

 

Consolidated statement of cash flows (Unaudited)

 

   for the nine months ended
September 30,
 
In 000€  2026   2025 
Operating activities          
Net (loss) profit for the period   6,535    1,510 
Non-cash and operational adjustments          
Depreciation of property plant & equipment   12,475    11,317 
Amortization of intangible assets   4,920    4,834 
Share-based payment expense   475    191 
Loss (gain) on disposal of intangible assets and property, plant & equipment   (350)   (24)
Government grants   (354)   (209)
Movement in provisions   466    (273)
Movement reserve for bad debt and slow moving inventory   451    194 
Financial income   (3,493)   (3,339)
Financial expense   2,705    7,385 
Impact of foreign currencies   (65)   (137)
(Deferred) income taxes   483    260 
Working capital adjustments and income tax (paid)/received          
Decrease (increase) in trade receivables and other receivables   4,044    6,197 
Decrease (increase) in inventories and contracts in progress   (3,059)   (1,604)
Increase in trade payables and other payables   (1,888)   (6,875)
Income tax (paid)/received   (786)   (1,358)
Interest received   2,170    1,977 
Net cash flow from operating activities   24,727    20,045 

 

 

 

 

   for the nine months ended
September 30,
 
In 000€  2026   2025 
Investing activities          
Purchase of property, plant & equipment   (4,352)   (10,372)
Purchase of intangible assets   (1,238)   (1,477)
Proceeds from the sale of property, plant & equipment & intangible assets   358    231 
Cash transferred out upon divestment   (488)   - 
Investments in associates and joint ventures   (8)   - 
(Convertible) loan to third party   (459)   - 
Capital government grants received   4,249    2,678 
Net cash flow used in investing activities   (1,938)   (8,940)
Financing activities          
Proceeds from loans & borrowings   15,000    35,000 
Repayment of loans & borrowings   (7,314)   (10,461)
Repayment of leases   (2,668)   (2,257)
Interest paid   (1,568)   (1,209)
Other financial income (expense), net   (37)   (1,515)
Repurchase of treasury shares   (7,276)   - 
Net cash flow from (used in) financing activities   (3,862)   19,558 
Net increase/(decrease) of cash & cash equivalents   18,926    30,663 
Cash & Cash equivalents at the beginning of the year   133,918    102,304 
Exchange rate differences on cash & cash equivalents   684    (915)
Cash & cash equivalents at end of the period   153,529    132,052 

 

 

 

 

Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)

 

   for the three months ended
September 30,
   for the nine months ended
September 30,
 
In 000€  2026   2025   2026   2025 
Net profit (loss) for the period   1,383    1,848    6,535    1,510 
Income taxes   120    553    478    266 
Financial expenses   1,128    582    2,699    7,393 
Financial income   (1,289)   (460)   (3,494)   (3,345)
Depreciation and amortization   5,561    5,509    16,852    16,240 
EBITDA   6,904    8,031    23,070    22,065 
Share-based compensation expense (1)   360    74    475    191 
Restructuring and corporate initiatives (2)   577    322    1,012    605 
Impairments (3)   184    -    940    - 
Divestitures-related expenses (4)   22    -    191    - 
Adjusted EBITDA   8,046    8,428    25,688    22,862 

 

(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.

(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations.

(3) Impairments represent the impairment of tangible and intangible assets and inventory of RapidFit NV and Eyewear resulting from the transfer of the assets to their respective management teams.

(4) Divestitures-related expenses represent fees and costs in connection with the divestitures of RapidFit and Eyewear.

 

Reconciliation of Net Profit (Loss) to EBIT and Adjusted EBIT (Unaudited)

 

   for the three months ended
September 30,
   for the nine months ended
September 30,
 
In 000€  2026   2025   2026   2025 
Net profit (loss) for the period   1,383    1,848    6,535    1,510 
Income taxes   120    553    478    266 
Financial expenses   1,128    582    2,699    7,393 
Financial income   (1,289)   (460)   (3,494)   (3,345)
EBIT   1,343    2,522    6,218    5,825 
Share-based compensation expense (1)   360    74    475    191 
Restructuring and corporate initiatives (2)   577    322    1,012    605 
Impairments (3)   184    -    940    - 
Divestitures-related expenses (4)   22    -    191    - 
Adjusted EBIT   2,485    2,918    8,836    6,621 

 

(1) Share-based compensation expense represents the cost of equity-settled and share-based payments to employees.

(2) Non-recurring costs related to corporate initiatives, restructurings or reorganizations.

(3) Impairments represent the impairment of tangible and intangible assets and inventory of RapidFit NV and Eyewear resulting from the transfer of the assets to their respective management teams.

(4) Divestitures-related expenses represent fees and costs in connection with the divestitures of RapidFit and Eyewear.

 

 

 

 

Segment P&L (Unaudited)

 

In 000€  Materialise
Medical
   Materialise
Software
   Materialise
Manufacturing
   Total
segments
   Unallocated
(1)
   Consolidated 
For the three months ended September 30, 2026                              
Revenues   36,542    9,864    21,266    67,672    (2)   67,670 
Segment (adj) EBITDA   10,015    1,463    (257)   11,220    (3,174)   8,046 
Segment (adj) EBITDA %   27.4%   14.8%   -1.2%   16.6%        11.9%
For the three months ended September 30, 2025                              
Revenues   33,296    10,286    22,677    66,259    0    66,259 
Segment (adj) EBITDA   10,199    1,801    (845)   11,155    (2,728)   8,428 
Segment (adj) EBITDA %   30.6%   17.5%   -3.7%   16.8%        12.7%

 

In 000€  Materialise
Medical
   Materialise
Software
   Materialise
Manufacturing
   Total
segments
   Unallocated
(1)
   Consolidated 
For the nine months ended September 30, 2026                              
Revenues   106,581    29,106    68,333    204,020    0    204,020 
Segment (adj) EBITDA   30,802    3,566    (262)   34,106    (8,419)   25,688 
Segment (adj) EBITDA %   28.9%   12.3%   -0.4%   16.7%        12.6%
For the nine months ended September 30, 2025                              
Revenues   97,224    29,933    70,313    197,469    0    197,469 
Segment (adj) EBITDA   29,974    3,772    (2,031)   31,716    (8,854)   22,862 
Segment (adj) EBITDA %   30.8%   12.6%   -2.9%   16.1%        11.6%

 

(1)  Unallocated segment adjusted EBITDA consists of corporate research and development and corporate other operating income (expense), and the added share-based compensation expenses, acquisition expenses related to business combinations or divestiture-related expenses, impairments and revaluation of fair value of business combinations and non-recurring costs related to corporate initiatives, restructurings and reorganizations that are included in Adjusted EBITDA and that are not allocated to the reporting segments .

 

 

 

 

Reconciliation of Net Profit (Loss) to Segment adjusted EBITDA (Unaudited)

 

   for the three months ended
September 30,
   for the nine months ended
September 30,
 
In 000€  2026   2025   2026   2025 
Net profit (loss) for the period   1,383    1,848    6,535    1,510 
Income taxes   120    553    478    266 
Financial expenses   1,128    582    2,699    7,393 
Financial income   (1,289)   (460)   (3,494)   (3,345)
Operating (loss) profit   1,343    2,522    6,218    5,825 
Depreciation and amortization   5,561    5,509    16,852    16,240 
Corporate research and development   1,127    826    2,941    2,926 
Corporate headquarter costs   3,753    2,761    9,969    8,512 
Other operating income (expense)   (966)   (685)   (3,091)   (2,187)
Impairments (1)   184    -    940    - 
Segment restructuring and reorganization (2)   219    222    278    400 
Segment adjusted EBITDA   11,220    11,155    34,106    31,716 

 

(1) Impairments represent the impairment of tangible and intangible assets and inventory of RapidFit NV and Eyewear resulting from the transfer of the assets to their respective management teams.

(2) Costs related to restructuring activities and organizational changes within specific reported business segments, including personnel-related and other associated expenses.

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

MATERIALISE NV  
     
By:

/s/ Brigitte de Vet-Veithen

 
Name: Brigitte de Vet-Veithen  
     
  De Vet Management BV  
Title: Chief Executive Officer  

 

Date: October 29, 2026