Kalray (ALKAL) H2 2024 TU earnings summary

Executive summary

• 2024 revenue reached €24.8M, slightly down from €25.7M in 2023, with a stronger second half.

• Completed sale of the Data Acceleration Platform business unit to DataCore Software for up to $20M, including an initial $12.5M payment.

• Strategic focus shifting to maximizing the value of the semiconductor business, with ongoing partnership discussions.

Financial highlights

• Revenue for 2024 was €24.825M, nearly matching the previous year.

• EBITDA for 2024 is expected to be approximately -€8M, reflecting lower margins and significant early-year investments.

• Revenue split: 85% from Enterprise (Ngenea offering), 15% from Acceleration Card segment.

• Geographic revenue: 49% US, 42% Europe (including UK), 9% rest of world.

Outlook and guidance

• Financial visibility remains limited, with the current cash horizon extending to March 1, 2025.

• Active efforts underway to extend liquidity through partner and supplier negotiations.

• Company will update the market on liquidity at the end of February 2025.