Materialise NV today announced its financial results for the third quarter ended September 30, 2016.
Highlights – Third Quarter 2016
- Total revenue increased 11.0% from the third quarter of 2015 to 28,736 kEUR, with increases in all three business segments.
- Materialise Software revenue up 21.1% from the third quarter of 2015.
- Adjusted EBITDA was 2,833 kEUR compared to 1,175 kEUR for the third quarter of 2015
- Total deferred revenue from annual software sales and maintenance contracts increased 2,347 kEUR from 11,816 kEUR for the third quarter of 2015 to 14,163 kEUR for the third quarter of 2016.
Executive Chairman Peter Leys commented, “Despite continued soft market conditions, Materialise again delivered double-digit revenue growth and an increase in Adjusted EBITDA. Led by gains in our Materialise Software segment, where we realized strong gains in new licenses and recurring license revenue, total revenue rose 11.0% from the third quarter of 2015. Adjusted EBITDA increased from 1,175 kEUR to 2,833 kEUR. While many market participants continue to await the introduction of the next generation of printers, Materialise took a significant step forward with the launch of our partnership with HOYA Vision Care to transform the eyewear industry. Together, we are enabling the world’s first vision-centric 3D-tailored eyewear, using 3D printing technology to provide individualized lens and frame design backed by an end-to-end digital supply chain. Our groundbreaking partnership with an industry leader is a prime example of the way we continue to position Materialise as the software and services backbone of the 3D printing industry. We are developing additional meaningful partnerships that should serve us well when the industry resumes its growth and continue to fine-tune our operations to enhance efficiency.”
Third Quarter 2016 Results
Total revenue for the third quarter of 2016 increased by 11.0% to 28,736 kEUR compared to 25,883 kEUR for the third quarter of 2015, with gains in all three of our segments, particularly Materialise Software. Adjusted EBITDA increased from 1,175 kEUR to 2,833 kEUR, as a result of the combination of continued revenue growth, an improvement in our gross margins and a modest increase in operational expenses. The Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue) in the third quarter was 9.9% compared to 4.5% in the third quarter of last year.
