Kalray: 2024 annual results and strategic reorganization

Kalray has released its interim results for 2024, posting revenue of €24.8 million, slightly down from 2023. The company recorded negative EBITDA of €8.2 million, in line with forecasts. In a challenging economic environment, Kalray has made major changes by selling its Data Acceleration Platform business for a potential $20 million. This sale allows it to refocus its operations on its core business while reducing costs. The company is continuing its efforts to secure its financial viability beyond May 2025, when its current liquidity horizon is expected to be reached.

Discussions are underway to expand Kalray's semiconductor business through strategic partnerships. However, the outcome of these negotiations remains uncertain. Asset sales or strategic mergers are also being considered. With the reduction in its workforce related to the divestment, Kalray is focusing on its new market objective to strengthen its position in the processor and acceleration solutions sector.