3D printing service provider and software developer Materialise (NASDAQ:MTLS) has released its financial results for Q1 2017. For the same period in 2016, ending 31st March, total revenue has increased by 19.7% to over 31.9 million EUR (The equivalent of over 34 USD approx.). The report builds on the success reported by Materialise for the end of 2016, for which total revenue reached $121 million.

An “excellent start” for 2017

The total revenue for Q1 sees double-digit increases across all 3 segments of Materialise’s businesses.

Materialise Software revenues are reported at 8,575 kEUR, up 15.4% on the previous year’s figures which were 7,431 kEUR. The Medical segment, which provides surgical planning and specialist design software to its customers, is also up on last year at 9,932 kEUR compared to 8,606 kEUR. And Materialise Manufacturing, the 3D printing and engineering service portion of the business, shows the greatest increase of 26.4%, to 13,407 kEUR from 10,606 kEUR in Q1 2016.

Executive Chairman Peter Leys comments,

The year is off to an excellent start for Materialise. Amid signs that the overall demand environment for additive manufacturing (“AM”) is strengthening, we delivered double-digit growth in all our business segments and more than doubled Adjusted EBITDA. We are particularly encouraged by the wide range of industries that are tapping into the Materialise backbone in a variety of ways to realize meaningful applications of AM.

A 3D print created using Materialise Magics 3D Print suite software. Photo by Michael Petch.

A 3D print created using Materialise Magics 3D Print suite software. Photo by Michael Petch.

THINK. BEYOND. TOGETHER.

Earlier in April 2017 3D Printing Industry reported live from the Materialise World Summit that was this year themed on the motto: THINK. BEYOND. TOGETHER. Ahead of the World Summit we also heard directly from Fried Vancraen, Materialise founder and CEO, about his vision for the future of 3D printing.

In the interview, Vancrean touches on some of the partnerships mentioned by Peter Leys in his statement on Q1 2017. Leys continues,

During the quarter, we pushed ahead with our partnerships to prepare for the launch of Yuniku, the world’s first vision-centric 3D-tailored eyewear, and to integrate functionalities of Materialise Magics into product lifecycle management tools, streamlining the design-to-manufacturing process for the growing universe of products being produced using AM.

Yuniku Eyewear. Photo ©HOYA Vision Care.

Yuniku Eyewear. Photo ©HOYA Vision Care.

For 2017, Materialise have also partnered with Wohlers Associates, Inc. to provide a specialist course in Design for Additive Manufacturing (DfAM).

The unaudited Consolidated income statement and Consolidated statements of comprehensive income can be viewed below. The full report can be accessed via Materialise Investor Relations here.

Materialise consolidated income statement (Unaudited) Q1 2017. Source: Materialise NV

Materialise consolidated income statement (Unaudited) Q1 2017. Source: Materialise NV

Consolidated statements of comprehensive income (unaudited) Source: Materialise NV

Consolidated statements of comprehensive income (unaudited) Source: Materialise NV

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Featured image: Inside the MGX showroom at Materialise HQ. Photo by Michael Petch.

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