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Availability of the 2024 Half-Year Financial Report by Kalray

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Kalray has released its 2024 half-year financial report, available on their website. The company managed to raise €6 million from a bond issue in July 2024. This sum, combined with debt renegotiations and cost reductions, should be enough to cover financing needs until March 2025, or even June 2025 if the loan is fully used.

The auditors nevertheless highlight an uncertainty about the outcome of the negotiations, threatening the continuity of operations. Furthermore, Kalray continues to develop its "Data Acceleration & DPU Design" activities, targeting on-demand solutions for third parties, less cash-consuming.

The “Data Acceleration Card” business is expected to become profitable in 2024, with a positive contribution expected from 2025 for the “Data Acceleration Platform”. €1.6 million of the loan was repaid by the creation of 493,940 new shares, impacting shareholder participation.

R. P.

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