Kalray : FY2024 EARNINGS - UPDATE ON FINANCIAL POSITION

About this update from Kalray Sa

[{"type":"text","content":"\n 2024 financial statements approved but not certified to date;\n \n \n 2024 revenue of €24.8 million (compared to €25.8 million in 2023);\n \n \n 2024 EBITDA of -€8.2 million, in line with guidance of around-€8.0million (vs. -1.1 million in 2023);\n \n \n Post-closing: sale of all assets of \"Data Acceleration Platform\" business unit for up to $20 million, with an initial immediate payment of $12.5 million;\n \n \n Presentation ofFY 24 financials based on the new perimeter;\n \n \n Unchanged cash horizon to end of May 2025 and ongoing discussions underway with partners to extend the Company's financial visibility;\n \n \n Postponement of the publication of the FY 2024 financial report.\n \n Grenoble, April 30, 2025 - Kalray (Euronext Growth Paris: ALKAL) a leader in hardware and software technologies dedicated to the management and intensive processing of data from the Cloud to the Edge, announces its 2024 full-year results. The financial statements were approved by the Management Board following review by the Supervisory Board on April 29, 2025. The audit procedures are ongoing since the statutory auditors are not in a position to issue their certification for now due to risk regarding the going-concern over the next 12 months.\n Eric Baissus, Chairman of the Management Board of Kalray, stated:\n \"2024 was an extremely challenging year for Kalray, within a highly deteriorated global economic environment. Our company faced significant financial difficulties while continuing to invest heavily in the development of our next-generation processor, Dolomites™ to lead our strategic roadmap.\n In this context, we made the decision to refocus on our core business while also changing our busines s model: Kalray aims to offer custom design solutions for acceleration, thereby leveraging its unique expertise and assets.\n With the Supervisory Board, we made the decision in February 2025 to sell our Data Acceleration Platform business, which had been significantly impacting our EBITDA and net income.\n This initial step enabled us to repay part of our suppliers and creditors. We also successfully renegotiated a large majority of our supplier debt with our key strategic partners and suppliers. We continue to work hard toward securing a strategic partnership that would enable us to develop our semiconductor business and enhance our financi...

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