Kalray Quadruples Its Revenue at Constant Scope in 2025
The French specialist in processors for intensive data processing has reported a consolidated revenue of 16.5 million euros in 2025. At a comparable scope, excluding the divested activity, revenues increased from 3.6 million euros to 14.3 million euros, according to the company's statement.
Revenue Details and Strategic Partnerships
Kalray's consolidated revenue stood at 16.5 million euros for the fiscal year 2025, down from 24.8 million euros the previous year. This apparent decline is due to the divestiture of the Data Acceleration Platform business on February 5, 2025. At a constant scope, in the retained semiconductor activity, revenues have quadrupled, rising from 3.6 million euros in 2024 to 14.3 million euros in 2025. This increase is mainly due to a strategic partnership with Openchip, which includes a non-exclusive licensing agreement for part of Kalray's intellectual property worth 4 million euros, and a service contract of approximately 10 million euros. Announced in May 2025, this partnership involves a temporary transfer of activity including about fifty employees who have been working for six months with the Openchip teams.
Refocusing on Core Business and Expanding Partnerships
Kalray has refocused its activity on its historic core business, the DPU (Data Processing Unit) processors. The new business model is based on the development and licensing of these technologies, as well as on a high-value-added service offering to develop specialized DPU products. According to the company, the partnership with Openchip is continuing as planned. Openchip has notably announced a strategic agreement with NEC. Following this initial collaboration, Kalray indicates that it is in advanced discussions with other players to replicate and expand this model. The projects in question target the fields of artificial intelligence and AI gigafactories, but also high-performance computing, telecommunications, space, and defense. The group positions itself as the only European player in the DPU sector.
Financial Performance and Outlook
According to the statement, the consolidated EBITDA for 2025 is expected to be significantly positive for the entire fiscal year, marking a clear improvement from the minus 8.2 million euros recorded in 2024. The company reports a sequential improvement in the second half, after a first half at 0.3 million euros. Available cash stands at 2.9 million euros at the end of 2025. The group estimates that its financing horizon extends beyond June 30, 2026, not taking into account the new opportunities currently under discussion. Furthermore, Kalray indicates that it should soon settle its financing line signed with IRIS in July 2024, with only 300,000 euros remaining to be repaid in new shares. An agreement with banking partners on a rearrangement of state-guaranteed loans was concluded on November 28, 2025, with a freeze on capital repayments until October 1, 2026. The publication of the 2025 annual results is scheduled for April 23, 2026.
