(News Bulletin 247) – The company specializing in processors that process data on a large scale in cloud computing evokes a weaker than desired increase in power of the partnership with Dell. Kalray takes the blame on the Paris Stock Exchange.

Kalray blows hot and cold on the Paris Stock Exchange. On Wednesday, the company specializing in cloud processors gained 6.5%, after announcing the availability of Coolidge2, the new version of its DPU processor. [Data processing unit, NDLR] optimized for artificial intelligence.

But this Thursday, a sharp drop prevails. Kalray slumps 24.4% around 10:30 a.m. after being booked lower at the open. The group has certainly announced significantly improved half-year results, but one point in this publication caught the attention of investors and is at the origin of today’s sales.

Kalray’s annual growth trajectory will be weaker than expected, with the company citing a ramp-up of the recent partnership with Dell “less rapid than initially expected”, with “sales cycles which are proving to be longer than those of Kalray Live.

An annual turnover revised downwards

The company is therefore lowering its annual turnover target. It is now only targeting revenues of 30 million euros whereas it was previously counting on a turnover of 40 million euros. Kalray is, however, confident in its ability to achieve a break-even Ebitda (gross operating result) in 2023, after suffering a gross operating loss of 2.7 million euros last year.

These outlooks were issued by Kalray on the occasion of the publication of its half-year accounts. In the first half, the company posted a consolidated turnover of 15.27 million euros, a very strong increase of +219% compared to the first half of 2022.

The company is pleased to have achieved a “balanced” consolidated Ebitda – in fact it remains in negative territory at 34,000 euros – but this indicator shows a strong increase compared to a negative consolidated Ebitda at 2 .05 million euros, as of June 30, 2022. The net result, although still in loss, also improves to -3 million euros as of June 30, 2023 compared to a net loss of 7.52 million euros at the end June 2022.