Materialise reports Q2 2025 results showing growth in medical
But software and industrial manufacturing segments drag down overall revenues
Belgian AM service provider Materialise released Q2 2025 results showing modest revenue decline, but notable strength in its medical business.
In the second quarter of 2025, consolidated revenue declined by 5.8% to €64.83 million, compared to €68.80 million in Q2 2024. However, the gross profit margin improved to 58.3%, up from 57.0%, indicating better cost absorption and stronger pricing discipline. Adjusted EBIT dropped to €3.06 million (a 4.7% margin), down from €3.87 million (a 5.6% margin) in the previous year. Adjusted EBITDA eased to €8.29 million, compared to €9.19 million in Q2 2024.
The 5.8% decline was primarily due to softness in the Manufacturing and Software segments, driven by geopolitical uncertainty and macroeconomic headwinds affecting industrial and commercial demand.
Despite lower revenues, strong cost control and improved product mix enabled Materialise to raise its gross profit margin by 1.3 percentage points year-over-year.
Adjusted EBIT improved sequentially—rising from €0.65 million in Q1 2025 to €3.06 million in Q2—though it remained below the level seen in Q2 2024. Adjusted EBITDA declined moderately, but margins stayed within a healthy range.
Medical segment expansion
Materialise Medical delivered a strong 16.7% revenue increase to €32.85 million (up from €28.14 million in Q2 2024). Segment Adjusted EBITDA rose to €10.73 million from €8.20 million, lifting the EBITDA margin to 32.7% from 29.1%. This reflects strong demand for patient-specific implants and medical software solutions.
Revenue declined 12.1% to €9.87 million, down from €11.23 million a year earlier. Despite the drop, segment EBITDA held steady at approximately €1.37 million, and the margin improved to 13.9%, up from 12.2%, thanks to effective cost management.
Revenue in the Manufacturing segment dropped 24.9% to €22.11 million, compared to €29.43 million last year. The segment reported a negative Adjusted EBITDA of €0.81 million, reversing from a positive €2.42 million in Q2 2024. The segment margin declined from 8.2% to –3.6%.
