Materialise NV ( NASDAQ: MTLS ) witnessed a 10% jump in Q4 revenue to €62,703K. Bifurcating segment-wise revenue: Software segment decreased 4.0% to €11,699K; Medical segment increased 17.3% to €24,254K.
Gross profit increased 7.5% to 35,681K, gross profit margin of 56.9%, compared to 58.3%. Net other operating result was €593K vs. €1,260K last year.
Adjusted EBITDA amounted to €4,258K vs. €10,490K last year. Net loss was €(4,588)K, or €0.08 per share.
Total cash position was €140,867K at the end of 2022.
2023 Guidance: Executive Chairman Peter Leys commented, “We currently expect Materialise to post another year of double-digit revenue growth, with revenues totaling between 255,000 and 260,000 kEUR in 2023. As in 2022, we expect our Materialise Medical segment and our Materialise Manufacturing segment will be the main drivers of that growth. While we expect sales of our Materialise Software segment will also grow, this growth may not be fully reflected in the segment’s revenues due to the changing cloud-based subscription business model we are introducing there." He added, “Assuming that inflation stabilizes in 2023, we expect our continued revenue growth to gradually result in a stronger Adjusted EBITDA, which we currently anticipate to total between 25,000 and 30,000 kEUR for 2023. We expect our three segments to contribute to our Adjusted EBITDA in line with their contributions to our revenue growth."
Wall Street analyst give the stock Buy rating with an average price target of $16.61 . Quant rating of Hold with highest factor grades given to profitability and revisions.
Company has an overall market cap of ~$601M with about 55% decline seen in price over the last one year.
For further details see:
Materialise drops 11% after Q4 reports, expects double-digit growth in 2023