Kalray: down at half-mast after half-year update

(CercleFinance.com) - Kalray dropped more than 7% in the wake of the processor company's half-year trading update, marked by a 29% drop in sales to 10.
9 million euros, and accompanied by the announcement of a bond financing redeemable in shares.

We understand that the company, in view of the current sales pipeline, is forecasting an increase in sales in 2024, underpinned by very strong sales growth in the second half of the year", notes Oddo BHF, which remains "outperform" on the stock.

The research department has lowered its forecast for 2024 sales to 27.4 million euros, but is maintaining a growth rate of 50% in 2025 and 2026, underpinned by growth in Jumbo Contract and the launch of products developed in collaboration with Pliops.

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