KALRAY's 2024 Half-Year Revenue Reflects Steady Performance and Promising Outlook

Kalray, a prominent provider of AI and data acceleration solutions, reported a revenue of €10.9 million for the first half of 2024. This stable performance aligns with their previous forecasts and matches the second half of 2023. Despite challenges in the sales cycle and supply chain, the company expects a significant revenue boost in the second half of 2024.

A crucial development highlighted is the Jumbo contract, with an anticipated €100 million in revenue over the next five years. Kalray's TC4 acceleration cards, essential for this deal, have successfully moved to mass production after initial client validations.

To support its growth, Kalray secured a non-dilutive bank financing facility with BNP Paribas and equity line funding from IRIS. These financial instruments aim to bolster innovation and expansion, particularly targeting AI and GenAI applications.

In addition, Kalray's strategic agreement with Pliops is on the verge of finalization. This partnership aims to create a leading entity in data processing for AI, tapping into Pliops' advanced storage and server acceleration technologies.