Ankündigung • May 27
Kalray S.A., Annual General Meeting, Jun 29, 2026 Kalray S.A., Annual General Meeting, Jun 29, 2026. Location: 180 avenue de l europe, montbonnot saint martin France New Risk • May 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€6.0m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 1.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable next year (€6.2m net loss next year). Reported Earnings • Apr 26
Full year 2025 earnings released Full year 2025 results: Revenue: €28.8m (down 35% from FY 2024). Net loss: €4.54m (loss narrowed 81% from FY 2024). New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings have declined by 8.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (€6.2m net loss next year). Shareholders have been diluted in the past year (15% increase in shares outstanding). Ankündigung • Jan 15
Kalray S.A. to Report Fiscal Year 2025 Results on Apr 23, 2026 Kalray S.A. announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 23, 2026 Reported Earnings • Sep 28
First half 2025 earnings released First half 2025 results: Revenue: €12.7m (down 30% from 1H 2024). Net loss: €2.12m (loss narrowed 81% from 1H 2024). Revenue is expected to decline by 35% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Europe are expected to grow by 8.2%. Ankündigung • Aug 21
Kalray S.A., Annual General Meeting, Sep 25, 2025 Kalray S.A., Annual General Meeting, Sep 25, 2025. Location: 180 avenue de l europe, montbonnot saint martin France Reported Earnings • Jul 16
Full year 2024 earnings released Full year 2024 results: Revenue: €45.4m (up 14% from FY 2023). Net loss: €23.3m (loss widened 99% from FY 2023). Revenue is expected to decline by 75% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in the United Kingdom are expected to grow by 22%. New Risk • Jul 15
New major risk - Revenue and earnings growth Revenue has declined by 7.9% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Revenue has declined by 7.9% over the past year. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Market cap is less than US$10m (€7.15m market cap, or US$8.29m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€9.0m net loss in 2 years). Board Change • Jul 11
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Board Member Terri Zecchin was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • May 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Market cap is less than US$10m (€5.07m market cap, or US$5.67m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€12m net loss in 2 years). New Risk • Apr 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Market cap is less than US$10m (€6.75m market cap, or US$7.70m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (€9.8m net loss in 2 years). New Risk • Mar 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€31m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (€7.05m market cap, or US$7.64m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€9.8m net loss in 2 years). Shareholders have been diluted in the past year (27% increase in shares outstanding). Breakeven Date Change • Feb 06
Forecast to breakeven in 2026 The 3 analysts covering Kalray expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 2.4% per year to 2025. The company is expected to make a profit of €2.40m in 2026. Average annual earnings growth of 62% is required to achieve expected profit on schedule. New Risk • Nov 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.71m (US$9.43m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€27m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (€8.71m market cap, or US$9.43m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€6.8m net loss in 2 years). Shareholders have been diluted in the past year (4.3% increase in shares outstanding). New Risk • Aug 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €12m Forecast net loss in 3 years: €3.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€3.2m net loss in 3 years). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (€72.7m market cap, or US$79.4m). New Risk • Jul 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€23m free cash flow). Minor Risks Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Market cap is less than US$100m (€84.2m market cap, or US$92.1m). Breakeven Date Change • Jul 17
Forecast breakeven date pushed back to 2026 The 3 analysts covering Kalray previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 6.9% per year to 2025. The company is expected to make a profit of €953.3k in 2026. Average annual earnings growth of 45% is required to achieve expected profit on schedule. New Risk • Jul 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €88.6m (US$96.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€23m). Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Market cap is less than US$100m (€88.6m market cap, or US$96.5m). Ankündigung • May 23
Kalray Debuts Ngenea for AI, A Data Acceleration Platform for GenAI and RAG Kalray announced Ngenea for AI, a new edition of its Kalray Data Acceleration Platform specifically fine-tuned for AI data pipelines. As AI demands new ways to ingest and access massive volumes of data, Ngenea for AI helps teams speed up performance, simplify data management and open their data assets to new AI-powered use cases. Ngenea for AI is the companion to two Ngenea editions for Media & Entertainment and HPC customers, respectively. The new Ngenea for AI empowers AI innovators to speed up their ingest performance and access their unstructured data from a unified, global name space. Kalray debuted Ngenea for AI at Dell Technologies World 2024 in Las Vegas, where the software's performance on Dell servers is being showcased in the Kalray Booth #1026. The generative AI (GenAI) market is predicted to see 42% compound annual growth rate (CAGR) across the next 10 years into a $1.3 trillion space, from just $40 billion in 2022 (Bloomberg Intelligence). Yet innovative AI constructs such as large language models (LLMs) and Retrieval-Augmented Generation (RAG), and applications including Smart Vision and GenAI, are challenging the ability of IT systems to move data to and from their massive data stores. Ngenea for AI adds data indexing and search capabilities, which users can leverage to feed any data to Smart Vision, GenAI and RAG applications effortlessly. The new offering enables AI customers to fully harness their existing assets when deploying GenAI applications, regardless of where the data is stored. These GenAI and RAG capabilities simplify and automate what would otherwise be a complex workflow from a data management aspect. The Ngenea for AI platform also incorporates a high-performance storage tier for the most data-intensive AI workloads. With Ngenea, AI innovators: Accelerate AI workflows by optimizing AI data pipelines and enhancing the overall speed and efficiency of AI operations. Boost the AI model performance by feeding data to GPUs faster, allowing for quicker computations and accelerated insights. Gain advanced data indexing capabilities that enable Generative AI and RAG applications to deliver more refined search functionalities, enabling more effective queries and a more strategic utilization of AI models. Facilitate a controlled and optimized connection between company data and a suite of third-party AI-powered tools, ensuring seamless integration and data synergy. Optional hardware acceleration via Kalray's DPUs including the TURBOCARD4 (TC4) allows parallel processing in an asynchronous way for ultra-demanding workflows, via a complementary architecture to GPUs. Reported Earnings • Apr 25
Full year 2023 earnings released Full year 2023 results: Revenue: €40.0m (up 31% from FY 2022). Net loss: €11.7m (loss narrowed 25% from FY 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Semiconductor industry in the United Kingdom. New Risk • Feb 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€793k net loss in 2 years). Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Breakeven Date Change • Dec 07
Forecast breakeven date pushed back to 2025 The 3 analysts covering Kalray previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 46% per year to 2024. The company is expected to make a profit of €23.0m in 2025. Average annual earnings growth of 92% is required to achieve expected profit on schedule. Ankündigung • Nov 15
Kalray Announces Availability of New NG-Box NVMe Storage Solution for Data-Intensive and AI Applications Kalray announced the availability of NG-Box, a disaggregated NVMe storage array based on Dell PowerEdge servers combined with Kalray DPU-based storage acceleration cards. NG-Box is designed to excel at unstructured data workloads and to offer reliable, fast, automated, and scalable on-premises Tier 0 storage for the world’s most demanding data intensive workflows which are increasingly AI-focused. Kalray is showcasing the NG-Box at SuperComputing 2023 (SC23) this week, the leading international conference for high performance computing and AI technologies. The performance that the NG-Box delivers is over 80 GB/second per server. Industry tests such as IO Zone and FIO show doubled performance compared to non-DPU accelerated versions of the server and a highly reduced transaction latency. In addition, NG-Box makes the adoption of the NVMe-over-Fabric standard easy, positioning it as a strong solution for AI and data-intensive usage. NG-Box is part of the Kalray NGenea data management platform which also includes NG-Stor and NG-Hub. NG-Stor is a high-performance storage tier for the most data-intensive workloads that’s powered by a proven high-performance parallel file system and trusted by thousands of organizations worldwide. NG-Stor can easily manage petabytes of data and billions of files. NG-Hub is an easy-to-use web interface that allows centralized control of all storage within a global namespace. Together, Kalray’s NGenea product suite offers organizations a leading global data management and storage solutions platform specialized for data intensive and AI workloads. At SC23, Kalray will demonstrate how its differentiated data management and storage capabilities help organizations efficiently manage data across all stages of data intensive and AI pipelines to improve speed and ease deployment. Additionally, Kalray will join Dell Technologies at SC23 in booth #625 on November 14, 2023 to discuss data management for HPC and AI workloads. The Kalray NGenea solution, including NG-Box, is available through both Kalray and Dell Technologies. Reported Earnings • Sep 23
First half 2023 earnings released First half 2023 results: Revenue: €20.9m (up 113% from 1H 2022). Net loss: €3.00m (loss narrowed 60% from 1H 2022). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Semiconductor industry in the United Kingdom. 
