Kalray (ALKAL) H1 2026 earnings summary

Executive summary

• Revenue grew 58% year-over-year to €8.5 million in H1 2026, driven by technology licensing and customer-funded development.

• EBITDA surged to €5.1 million from €0.3 million in H1 2025, reflecting improved cost structure and business model shift.

• Net income turned positive at €0.8 million, compared to a €2.1 million loss in H1 2025.

• Strategic licensing agreements signed with Bull and Openchip validate the scalable business model and support future growth.

Financial highlights

• Consolidated revenue: €8.5 million in H1 2026 vs. €5.4 million in H1 2025 (like-for-like), +58%.

• EBITDA: €5.1 million in H1 2026 vs. €0.3 million in H1 2025.

• Net income: €0.8 million in H1 2026 vs. €(2.1) million in H1 2025.

• Operating expenses reduced to €8.5 million from €13.2 million year-over-year.

• Operating income after depreciation, amortization, and provisions: €(1.4) million.

Outlook and guidance

• 2026 outlook confirmed: double-digit revenue growth and further EBITDA improvement expected.

• Ongoing execution of strategic programs and continued technology development prioritized.