on KALRAY (EPA:ALKAL)
Kalray presents contrasting 2024 half-year results
Kalray announced half-year results for 2024 marked by a drop in its turnover to €10.9 million, compared to €15.3 million in the first half of 2023. The gross margin stood at 55%, impacted by the increase in component prices. Investments for the development of the DolomitesTM processor significantly weighed on cash, which fell from €13.2 million to €2.3 million.
Faced with this situation, Kalray has implemented a strategic plan aimed at reducing costs by 20% and ensuring profitable growth by the end of 2025. The economic pivot towards the sale of hardware acceleration solutions is envisaged to generate positive cash flows.
Kalray expects revenue growth in the second half of 2024 and is counting on strategic partnerships to strengthen its position in the AI and data center market.
R. H.
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