KALRAY
2.4.2020 23:07:16 CEST | Business Wire | Press release
Kalray (Paris:ALKAL) (Euronext Growth Paris : ALKAL), a pioneer in processors for new intelligent systems, is sharing the status on its activity and the continuation of its activity following the various health measures taken by the French government.
The impact of Covid-19 epidemic on Kalray’s research and development activity, which is not too dependent on its suppliers, is expected to be limited and Kalray is hopeful it will be able to stick to its development roadmap. The development teams are fully operational thanks to telework, which was put in place as soon as the containment was announced in France on Monday March 16. The company does not use technical unemployment to date.
However, the global health situation related to the Covid-19 epidemic and the containment measures implemented in many countries are likely to slow down business cycles, which could delay the deployment of some of company’s projects. At this stage, Kalray is currently assessing all the impacts of this crisis on its business and its financial forecasts. The company is working with its partners as well, who are themselves assessing the impact of the crisis on their own activities.
In such context, and even if Kalray's cash position remains solid (€ 15.7 million at December 31, 2019, reinforced by NXP investment), the company is taking additional measures in order to increase its financial visibility by limiting certain investments and by requesting bank loans as part of the support measures implemented by the Government. Nevertheless, Kalray confirms that its current cash position, including the NXP investment just announced, should allow the company to develop its technology roadmap, including developments related to the NXP strategic partnership, as well as the commercial deployment, beyond the next twelve months.
On April 20, as previously announced, the company will comment on its 2019 results as previously announced. Within this timeframe, Kalray hopes to be in a position to provide more details on the impact of the Covid-19 epidemic crisis on its business, which, as it constitutes a post-closure event, will have no impact on its 2019 accounts.
Next publication:
Monday
April 20, 2020 (after market close)
: 2019 annual results
ABOUT KALRAY
Kalray (Euronext Growth Paris - FR0010722819 - ALKAL) is the pioneer in processors for new intelligent systems. A genuine technological breakthrough, “intelligent” processors are able to intelligently analyze a vast quantity of data on the fly and to make decisions and interact in real time with the outside world. These intelligent processors will be largely deployed in fast-growing sectors such as new-generation networks (intelligent data centers) and autonomous vehicles, as well as in healthcare equipment, drones and robots. Kalray’s offering spans both processors and global solutions (electronic boards and software). Created in 2008 as a spin-off of CEA (“Commissariat à l’Énergie Atomique”, the French Alternative Energies and Atomic Energy Commission), Kalray addresses a broad spectrum of customers including server manufacturers, intelligent system integrators and consumer product manufacturers such as car makers. Read more at: www.kalrayinc.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200402005824/en/
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