Materialise Shares Retreat as Software Weakness Weighs on Third-Quarter Earnings
Published on 10/28/2026 at 15:31 | Editorial boerse-global.de
Materialise posted higher revenue but thinner profits for the third quarter of 2026, and investors wasted little time in marking the stock down. The Leuven-based 3D printing group lifted sales 2.1% year on year to EUR 67.670 million, yet that top-line advance failed to translate into stronger earnings — a disconnect that has put the shares under heavy pressure.
The revenue figure also came in slightly below expectations, with the consensus estimate standing at EUR 68 million. Adjusted operating profit (EBIT) fell to EUR 2.485 million from EUR 2.918 million a year earlier, while net profit slipped to EUR 1.383 million from EUR 1.848 million. The adjusted EBIT margin narrowed to 3.7% from 4.4%.
Software Unit Remains the Drag
Behind the margin squeeze lies a familiar problem: the software business. Customers are spending cautiously, and sales cycles for the company's CO-AM platform have lengthened, leaving the segment without any sign of relief this quarter. That restraint on the customer side stands in the way of the group's overall growth.
Costs told the other half of the story. Research and development, sales and marketing, and general administrative expenses together rose 7.8% to EUR 38.830 million — outpacing revenue. Gross margin did improve, climbing to 57.7% from 56.8%, but the gain was not enough to keep operating profitability from eroding.
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Guidance Held Despite Soft Quarter
What the company did not do was cut its full-year outlook. Materialise reaffirmed its 2026 revenue target of EUR 273 million to EUR 283 million, and kept its adjusted EBIT guidance at EUR 12 million to EUR 14 million. No reduction to the annual forecast featured in today's release.
That confirmation offers a counterweight to the disappointing quarterly numbers, though it remains a projection rather than a delivered result. For shareholders, the test through year-end will be whether Materialise can convert growth into better earnings even as spending rises.
Buyback Purchases Disclosed
Separately, the company reported buying back 50,211 of its own shares on Monday at an average price of EUR 7.55 each, for a total volume of EUR 379,205. The disclosure documents completed purchases rather than merely an intention to buy. The repurchase mandate allows for up to EUR 30 million in total.
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None of that changes the central takeaway from the quarterly report: higher sales paired with lower profits, while the annual targets stay where they were.
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