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Kalray SA (ALKAL) AI Stock Analysis
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Kalray SA
(Paris:ALKAL)
The overall score is held down primarily by Kalray’s weak financial profile—persistent losses, highly volatile and recently negative gross margins, and continued free cash burn despite signs of operational improvement and a decent equity base—indicating a high execution risk.[8] Technicals add further pressure, with the stock trending below all major moving averages and showing bearish momentum, even if indicators suggest some potential for a short-term stabilisation from mildly oversold levels.[8] Valuation contributes moderately to the cautious stance: a negative P/E and lack of dividend support mean the stock’s appeal rests on a successful turnaround rather than current fundamentals, keeping the risk-reward skewed toward speculative investors.[8]
Kalray SA (ALKAL) vs. iShares MSCI France ETF (EWQ)
- Market Cap
- EUR 66.72M
- Dividend Yield
- ―
- Average Volume (3M)
- 152.29K
- Price to Earnings (P/E)
- -25.8
- Beta (1Y)
- 1.50
- Revenue Growth
- -21.71%
- EPS Growth
- 91.06%
- Country
- France
- Employees
- 92
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Semiconductors
Kalray SA Business Overview & Revenue Model
Company Description
Kalray S.A. operates as a fabless semiconductor enterprise, specializing in the development and provision of high-performance processors and acceleration cards. Its comprehensive product portfolio features the MPPA processor, optimized for various da...
How the Company Makes Money
Kalray generates revenue primarily by selling its computing and acceleration solutions to customers that need high-performance, energy-efficient processing for data-intensive workloads. Its main revenue streams typically include: (1) hardware sales (...
Kalray SA Financial Statement Overview
Summary
Financial performance is weak overall: Kalray remains structurally unprofitable, with sharply negative and volatile gross margins and ongoing free cash burn, despite recent improvements in EBITDA and operating cash flow and a reasonably solid equity base supporting lower leverage.[8]
Income Statement
25NegativeBalance Sheet
65PositiveCash Flow
35Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.06M | 16.45M | 24.82M | 25.83M | 16.41M | 1.45M |
| Gross Profit | -8.32M | -13.64M | -33.87M | 29.66M | -17.15M | -18.44M |
| EBITDA | -1.04M | 885.00K | -6.37M | -1.91M | -2.69M | -5.82M |
| Net Income | -1.65M | -4.54M | -23.27M | -11.69M | -15.55M | -15.12M |
Balance Sheet | ||||||
| Total Assets | 54.65M | 56.41M | 88.14M | 80.52M | 88.05M | 43.28M |
| Cash, Cash Equivalents and Short-Term Investments | 2.18M | 2.95M | 1.70M | 13.21M | 32.20M | 12.22M |
| Total Debt | 7.85M | 8.31M | 12.98M | 3.27M | 6.67M | 11.61M |
| Total Liabilities | 20.97M | 23.73M | 53.51M | 23.87M | 34.03M | 17.62M |
| Stockholders Equity | 33.67M | 38.01M | 34.63M | 56.65M | 51.27M | 25.63M |
Cash Flow | ||||||
| Free Cash Flow | 2.27M | -5.50M | -9.44M | -22.70M | -16.54M | -20.74M |
| Operating Cash Flow | 9.93M | 1.97M | -1.03M | -2.15M | -1.72M | -7.06M |
| Investing Cash Flow | -11.65M | 300.00K | -20.05M | -16.51M | -15.88M | -12.12M |
| Financing Cash Flow | 1.64M | -987.00K | 9.29M | -484.00K | 37.98M | 11.17M |
Kalray SA Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALKAL, the sentiment is Negative. The current price of 3.61 is below the 20-day moving average (MA) of 3.96, below the 50-day MA of 4.83, and below the 200-day MA of 6.26, indicating a bearish trend. The MACD of -0.34 indicates Negative momentum. The RSI at 33.58 is Neutral, neither overbought nor oversold. The STOCH value of 41.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALKAL.
Kalray SA Peers Comparison
Overall Rating
FR:AL2SI52Neutral
FR:OVH51Neutral- FR:ALKAL42Neutral
FR:ALBPK41Neutral
FR:ALTAI39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| FR:AL2SI | 52Neutral | EUR 494.51M | 39.79 | 34.98% | ― | ― | ― |
| FR:OVH | 51Neutral | EUR 2.02B | 210.32 | 18.61% | ― | 5.58% | ― |
| FR:ALKAL | 42Neutral | EUR 66.72M | -25.82 | -4.60% | ― | -21.71% | 91.06% |
| FR:ALBPK | 41Neutral | EUR 21.57M | -7.13 | ― | ― | -9.14% | -190.06% |
| FR:ALTAI | 39Underperform | EUR 10.02M | -0.90 | ― | ― | 71.65% | -16.74% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FR:ALKAL | Kalray SA | 3.61 | 2.64 | 272.16% | |
| FR:AL2SI | 2CRSI SA | 21.92 | 11.98 | 120.52% | |
| FR:OVH | OVH Groupe SAS | 13.25 | 4.85 | 57.64% | |
| FR:ALBPK | Broadpeak SA | 1.72 | -0.73 | -29.80% | |
| FR:MLCHE | Cheops Technology SA | 57.00 | -5.00 | -8.06% | |
| FR:ALTAI | LightOn S.A. | 1.35 | -5.82 | -81.23% |
Kalray SA Corporate Events
Kalray Extends Openchip Partnership in €5m AI Accelerator Deal
Kalray has extended its technological partnership with Spanish firm Openchip & Software Technologies to continue co-developing accelerator technologies for high-performance computing and artificial intelligence. Under the renewed agreement, worth...
Kalray updates market on share capital and voting rights structure
Kalray has disclosed its share capital structure as of September 30, 2026, reporting 18,522,872 shares outstanding and an equal number of theoretical voting rights. The company also notes 18,505,170 exercisable voting rights and 17,702 treasury share...
Kalray turns profitable in H1 2026 and secures strategic AI chip licences
Kalray reported strong first‑half 2026 results that underline its shift to a higher‑margin, licence‑driven business model in the AI semiconductor market. Revenue on a comparable basis rose 58% year‑on‑year to €8.5...
Kalray Updates Share Capital and Voting Rights as of August 31, 2026
Kalray has reported that as of 31 August 2026 its share capital consists of 18,461,204 shares, corresponding to an equal number of theoretical voting rights and 18,446,175 actual voting rights. The company also disclosed that it holds 15,029 treasury...
Kalray Updates Share Capital and Voting Rights Structure as of July 31, 2026
Kalray has reported that as of July 31, 2026, its share capital comprised 15,506,769 shares, corresponding to an equal number of theoretical voting rights and 15,493,260 actual voting rights. The company also disclosed that it held 13,509 treasury sh...
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.
Date of analysis: Sep 29, 2026