Materialise NV, Leuven, Belgium, (NASDAQ: MTLS), has published financial results for the second quarter 2016, reporting an 11.4% increase in total revenue from the second quarter 2015 to €27.6 million.
“In the face of difficult industry conditions, with a number of market participants awaiting the introduction of the next generation of printers before making software purchases, Materialise continued to deliver double-digit revenue growth as well as an increase in Adjusted EBITDA,” stated Peter Leys, Materialise’s Executive Chairman.
Revenue from the company’s software segment, which offers proprietary software that enables and enhances the functionality of Additive Manufacturing equipment, increased by 14.9% to just under to €7 million for the second quarter of 2016.
Revenue from Materialise’s manufacturing segment, which provides an integrated suite of 3D printing and engineering services to industrial and commercial customers, increased 5.1% to €10.9 million for the second quarter of 2016, primarily as a result of higher end part manufacturing.
“During the quarter we launched several new initiatives to support our positioning as the ‘backbone’ of industrial 3D printing, including a collaboration with HP to develop a tailored software solution for its Multi Jet Fusion technology. We believe the entrance of this and other blue-chip companies into the Additive Manufacturing industry demonstrates the industry’s potential to transform manufacturing and supply chain dynamics, and we view our partnerships with these companies as validation of Materialise’s capabilities and industry positioning. We are developing additional meaningful partnerships and, although we expect certain parts of our industry to continue to show slow growth in the near term, our outlook for the year remains within our previous guidance range,” added Leys.