2024-04-26 18:11:41 ET
Summary
- Materialise NV faces a challenging demand environment and is transitioning to a cloud-based SaaS business model, impacting its financial performance.
- The software business is progressing slowly, while the medical business continues to perform well.
- The manufacturing business is struggling, but the startup of the expanded ACTech facility later in the year could change this.
- Macro headwinds and ongoing investments probably limit near-term upside. Longer term, Materialise appears deeply undervalued.
Materialise NV ( MTLS ) continues to face a difficult demand environment, which, along with a transition to a cloud-based SaaS business model, is dragging on the company's financial performance. Despite this, the software business is progressing, albeit slowly, and the medical business continues to perform well. Materialise's manufacturing business continues to struggle, but this could change with the startup of the expanded ACTech facility later in the year....
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Materialise Q1: Progress Against Headwinds