Kalray SA (FR:ALKAL)
:ALKAL
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Kalray SA
(ALKAL)
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Rating:52Neutral
Price Target:
€9.50
▲(691.67% Upside)
Action:ReiteratedDate:04/28/26
The score is held back primarily by weak financial performance (ongoing losses, negative gross margin, and negative free cash flow) despite improving operating momentum. Technicals are a meaningful offset with strong trend and positive momentum, though overbought signals add risk. Valuation is also a drag given the negative P/E and no dividend yield provided.
Positive Factors
Operating cash flow & EBITDA improvement
A swing to positive operating cash flow and EBITDA in 2025 indicates the core business can generate operating liquidity when scaled, reducing near-term refinancing pressure. Sustained operational cash generation improves bargaining power with suppliers and partners and supports reinvestment for growth.
Negative Factors
Structurally negative profitability
Persistent negative gross margins mean product costs or pricing are misaligned with market economics, preventing scalable profitability. Until gross-profitability issues are resolved, net losses will constrain retained earnings, limit R&D funding from operations, and prolong reliance on external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating cash flow & EBITDA improvement
A swing to positive operating cash flow and EBITDA in 2025 indicates the core business can generate operating liquidity when scaled, reducing near-term refinancing pressure. Sustained operational cash generation improves bargaining power with suppliers and partners and supports reinvestment for growth.
Read all positive factors
Kalray SA (ALKAL) vs. iShares MSCI France ETF (EWQ)
Market Cap
€140.96M
Dividend YieldN/A
Average Volume (3M)91.84K
Price to Earnings (P/E)―
Beta (1Y)1.55
Revenue Growth-33.73%
EPS Growth85.98%
CountryFR
Employees221
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)N/A
Shares Outstanding15,412,938
10 Day Avg. Volume80,055
30 Day Avg. Volume91,843
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.47
Price to Sales (P/S)0.93
P/FCF Ratio-2.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kalray SA Business Overview & Revenue Model
Company Description
Kalray S.A., a fabless semiconductor company, provides processors and acceleration cards in France. The company's products include MPPA processor for various data transfers; Kalray Flashbox, a disaggregated NVMe storage array to use the potential ...
How the Company Makes Money
Kalray generates revenue primarily by selling and licensing computing and data-acceleration technologies and by providing related engineering services. Key revenue streams include: (1) Semiconductor/compute product revenue: sales of Kalray-designe...
Kalray SA Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
56
Neutral
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.45M | 24.82M | 25.83M | 16.41M | 1.45M |
| Gross Profit | -13.64M | -33.87M | 29.66M | -17.15M | -18.44M |
| EBITDA | 885.00K | -6.37M | -858.00K | -2.69M | -5.82M |
| Net Income | -4.54M | -23.27M | -11.69M | -15.55M | -15.12M |
Balance Sheet | |||||
| Total Assets | 56.41M | 88.14M | 80.52M | 88.05M | 43.28M |
| Cash, Cash Equivalents and Short-Term Investments | 2.95M | 1.70M | 13.21M | 32.20M | 12.22M |
| Total Debt | 8.31M | 12.98M | 3.27M | 6.67M | 11.61M |
| Total Liabilities | 23.73M | 53.51M | 23.87M | 34.03M | 17.62M |
| Stockholders Equity | 32.67M | 34.63M | 56.65M | 51.27M | 25.63M |
Cash Flow | |||||
| Free Cash Flow | -5.50M | -9.44M | -22.70M | -16.54M | -20.74M |
| Operating Cash Flow | 1.97M | -1.03M | -2.15M | -1.72M | -7.06M |
| Investing Cash Flow | 300.00K | -20.05M | -16.51M | -15.88M | -12.12M |
| Financing Cash Flow | -987.00K | 9.29M | -484.00K | 37.98M | 11.17M |
Kalray SA Technical Analysis
Positive
1.20
Price Trends
4.06
Positive
2.77
Positive
1.76
Positive
Market Momentum
0.58
Negative
80.59
Negative
85.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALKAL, the sentiment is Positive. The current price of 1.2 is below the 20-day moving average (MA) of 4.16, below the 50-day MA of 4.06, and below the 200-day MA of 1.76, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 80.59 is Negative, neither overbought nor oversold. The STOCH value of 85.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:ALKAL.
Kalray SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €3.92B | -5.18 | 0.73% | ― | -14.27% | -89.94% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | €888.95M | 25.30 | 2.04% | ― | 2.12% | -52.29% | |
56 Neutral | €36.87M | 8.31 | 3.43% | ― | 0.65% | -20.10% | |
52 Neutral | €140.96M | -3.37 | -34.88% | ― | -33.73% | 85.98% |
* Technology Sector Average
FR:ALKAL
Kalray SA
8.34
7.73
1256.10%
FR:SOI
Soitec SA
98.76
49.16
99.11%
FR:XFAB
X-Fab Silicon Foundries SE
6.75
1.78
35.93%
FR:ALHYP
Hipay Group SA
5.96
-3.29
-35.57%
FR:ALTXC
TXCom SA
8.70
0.50
6.10%
Kalray SA Corporate Events
Kalray Publishes Updated Share Capital and Voting Rights Structure
Apr 4, 2026
Kalray has disclosed its updated share capital structure, reporting 15,412,938 shares outstanding as of March 31, 2026, corresponding to an equal number of theoretical voting rights and 15,386,117 exercisable voting rights. The company also holds ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.