Kalray (ALKAL) H1 2025 TU earnings summary

Executive summary

• H1 2025 revenue reached €7.5 million, down from €10.6 million in H1 2024, due to the divestiture of the Enterprise business unit.

• Strategic refocus on the semiconductor business, which showed strong growth and is now the core activity.

• Divestment of the software services division to DataCore Software and a new industrial cooperation agreement with Openchip.

• Trading resumption requested following the filing of the 2024 Annual Financial Report.

Financial highlights

• H1 2025 revenue includes one month from the divested Enterprise unit and contributions from an IP licensing agreement with Openchip.

• Semiconductor segment revenue rose to €5.4 million in H1 2025 from €1.1 million in H1 2024.

• Annual revenue for FY2025 expected to decline by about 35% due to the business shift.

• EBITDA expected to be positive as early as H1 2025, with further improvement anticipated in H2.

Outlook and guidance

• Significant improvement in profitability expected in 2025, driven by the semiconductor focus.

• Positive EBITDA forecast for H1 2025 and ongoing improvement in H2, supported by Openchip contributions and lower operating expenses.

• Annual revenue for 2025 projected to decrease by 35% year-over-year due to the divestiture.