© Kalray SA. Confidential Page 1
Kalray MPPA®Intelligent Data processing, from Cloud to Edge
H1 2021 ResultsOctober 5th, 2021
www.kalrayinc.com
© Kalray SA. Confidential Page 2
THE SPEAKERS
Eric Baissus Executive Board Chairman
20 years’ experience as senior executive for major telecom (Alcatel-Lucent) and electronics (Texas Instruments) groups, startup director.
Founder and CEO of Open-Plug (2002): high-tech firm sold to Alcatel-Lucent in 2010.
Anne GabrotCFO
20 years’ experience as CFO for major telecom groups and tech startups.
Page 3 © Kalray SA. Confidential
Agenda
Page 3 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
Page 4 © Kalray SA. Confidential
Agenda
Page 4 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
© Kalray SA. Confidential Page 5
KALRAY IN A NUTSHELLIntelligent Data Processing, from Cloud to Edge
Kalray offers a new type of processor targeting the booming market of intelligent systems.
Industrial investors
• Public Company (ALKAL)
• Support from European Govts
• Working with 500 fortune companies
Leader in Manycore Technology
30Patent families
≈€100mR&D investment
3rdgeneration
of MPPA® processor
• France (Grenoble, Sophia-Antipolis)• USA (Los Altos, CA)• Japan (Yokohama)• Canada (Partner)• China (Partner)• South Korea (Partner)
A GlobalPresence
© Kalray SA. Confidential Page 6
KALRAY OFFER
Compute and AI Intensive Workloads
Solutions for Storage & Networking
MPPA® Processors PCIe Cards & Modules
Next Gen.Data Center
Edge Computing
Storage Appliances
Page 7 © Kalray SA. Confidential
Agenda
Page 7 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
© Kalray SA. Confidential Page 8
FLASHBOX
KALRAY’S STORAGE DIGITAL EVENTSeveral Hundreds of Storage Experts Worldwide
© Kalray SA. Confidential Page 9
KALRAY FLASHBOXTM DemoFrom Sam Jones, Kalray DC SW Manager
Page 10 © Kalray SA. Confidential
Agenda
Page 10 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
© Kalray SA. Confidential Page 11
KEY FACTS H1-2021Kalray Continues to Deploy Its Solutions and Technology on the Market
BlueBox 3.0 (L2+ to L4)NXP Semiconductors launched its compute platform for the next generations of cars based on CoolidgeTM
NEXT GENCARS
FLASHBOX
FLASHBOXTM LaunchA complete storage appliance by Kalray,co-developed with Sanmina, one of thelargest ODM worldwide, available forKalray’s customers and for re-distribution
FLASHBOXTM
DATA CENTER
FLASHBOX
5G Co-development of a new type of 5G server, optimized in term of flexibility, performance and power consumption.
DATA CENTER
NOW
FLASHBOX
VM EnvironmentCo-development of a solution to optimize data centers running virtualized environment
DATA CENTER
BEG2022
END2022
SuperECU Concept (L1/L2)Kalray selected by a major car integrator for a project of next gen L1/L2 electronic architecture
NEXT GENCARS
2024
Page 12 © Kalray SA. Confidential
Agenda
Page 12 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
© Kalray SA. Confidential Page 13
INCOME STATEMENT - H1 2021
* Adjusted operating result = operating result + research tax credit
Consolidated – (€000) – Audited data As of June 30, 2020 As of June 30, 2021
Net sales 489 415
Subsidies 980 1,154
R&D capitalization 3,548 4,007
Other revenue 38 70
Operating income 5,055 5,646
Cost of sales (144) (111)
Operating expenses (7,523) (8,974)
Including salaries and contributions (4,570) (4,799)
Including other expenses (2,954) (4,175)
EBITDA (2,612) (3,439)
Amortization and depreciation (3,984) (5,829)
Operating result (6,596) (9,268)
Research tax credit 1,336 1,709
Adjusted operating result* (5,260) (7,559)
Financial result (41) (78)
Exceptionnal result - 6
Net result (5,301) (7,631)
Same revenue breakdown. No volume sales yet
Amortization of Coolidge R&D costs : 4.5 M€ on development costs and IP's and 1.3 M€ on masks and tests equipements.
Opex +19% as anticipated for 2021Low increase in Salaries in H1 (+5%) but many recruitments achieved with starting dates in H2.
Other expenses : + 1,2 M€ mainly on Subcontracting
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CASH FLOW STATEMENT - H1 2021
Consolidated – (€000) – Audited data As of 31/12/ 2020 As of 30/06/2021
Operating CF before Capex & WC variation (5,092) (4,663)
Change in working capital (incl. R&D tax credit) (528) 1,382
OPERATING CASH FLOW (5,620) (3,281)
Capex (2,920) (2,563)
R&D capitalization (7,579) (4,007)
Investment subsidies 1,065 636
INVESTMENT CASH FLOW (9,434) (5,934)
FREE CASH-FLOW (15,054) (9,215)
Net Cash from investors 13,551 7,532
Bank Debt (net) 4,756 (184)
R&D conditionnal advances and prepaid subsidies (net) 1,260 450
FINANCING CASH FLOW 19,567 7,798
Annual Cash in (Cash out) 4,513 (1,417)
Cash beginning of period 15,725 20,238
CASH END OF PERIOD 20,238 18,821
Equity line 7 M€
Reminder : in 2020, NXP (8 M€) + ABB (5 M€)
R&D tax credit 2020 has been fully reimbursed by end of June , thus positive WC variation in H1. s positive WC variation for H1
Subsidies do not include recently granted projects(CARAIBE and PIRANA) due in H2 variation for H1
PGE reimbursement (5 M€ in 2020) will start in June 2022
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BALANCE SHEET AT JUNE 30, 2021
ASSETS (K€) as of 31/12/20 as of 30/06/21 LIABILITIES & EQUITY (K€) as of 31/12/20 as of 30/06/21
Intangible assets 19,115 1,640
Tangible assets 4,286 4,558 EQUITY 28,434 28,275
Financial assets 620 499 Provisions 112 87
NON CURRENT ASSETS 24,020 24,697 R&D refundable advances 6,306 6,498
Inventories 134 226 Bank loans 5,531 5,389
Accounts Receivable 526 285 Accounts Payable 2,776 2,995
Other receivable (CIR, CICE, Subsidies)
2,165 2 987 Taxes & contributions payable 1,487 1,475
Cash 20,238 18 821 Other debts 124 96
CURRENT ASSETS 23,063 22,319 DEBTS & LIABILITIES 16,336 16,540
Accrued expenses 420 528 Deferred revenue (Subsidies) 2,734 2,729
TOTAL ASSETS 47,503 47,544 TOTAL LIABILITIES & EQUITY 47,504 47,544
Consolidated and audited data (K€)
No significant changes in Balance Sheet structure
© Kalray SA. Confidential Page 16
STATUS OF THE EQUITY LINE With Kepler Cheuvreux
• 9,1 M€ raised• 257 271 new shares• Dilution : 4.4% (non diluted basis)
AS OF SEPTEMBER 30, 2021
Terms : • Over a maximum period of 24 months
• Commitment of Kepler Cheuvreux
(subject to contractual conditions)
• Price: 2 days VWAP, less a maximum discount of 6%
€12M LINE – START IN FEBRUARY 2021
CONTINUE INVESTING TODAY, TO PREPARE POST 2023
(NEXT GEN CHIPS)
BE THE EUROPEAN LEADER
OF THE EDGE COMPUTING PROCESSORS
MARKET
© Kalray SA. Confidential Page 17
FLASHBOX
2 PROJECTS FUNDED
CARAIBE ProjectThis project aims at developing the next generation of MPPA processor® Coolidge™ (Coolidge2)
An open optimized and sovereign solution, based on Kalray acceleration cards, for the next generation of 5G infrastructures
ROADMAP
PIRANA Project5G
Page 18 © Kalray SA. Confidential
Agenda
Page 18 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
Page 19 © Kalray SA. Confidential
www.kalrayinc.com
DATA CENTER
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© Kalray SA. Confidential Page 20
KALRAY K200-LP ACCELERATION CARDAt the Heart of Kalray Data Center Strategy
Power Efficient30W Typ
Fully ProgrammableC/C++
Volume ProductionReady
Compact SizeLow Profile
© Kalray SA. Confidential Page 20
© Kalray SA. Confidential Page 21
4.8 MILLION CO-PROCESSOR SERVERS IN 2025(Omdia Data Center Report)
“Data Center Compute Quarterly Analyst Presentation – 2Q21”, OMDIA
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OMDIA REPORT – DATA CENTER EVOLUTION Key Trends
Silicon diversity Cloud/owned server
equilibrium
Programmable adapters set to
explode
</>
“Data Center Compute Quarterly Analyst Presentation – 2Q21”, OMDIA
© Kalray SA. Confidential Page 23
FLASHBOX™ & STORAGE PRODUCTS
FLASHBOX
FLASHBOXTM LaunchA complete storage appliance by Kalray,co-developed with Sanmina, one of thelargest ODM worldwide, available forKalray’s customers and for re-distribution
FLASHBOXTM
DATA CENTER
NOW
© Kalray SA. Confidential Page 24
KALRAY STORAGE SOLUTION MARKET DEPLOYMENT SCHEDULE
Q4-2020
K200-LP – DEV
Q3-2020 Q1-2021 Q2-2021
Open Software & Tools
AccessCore®
AccessCore® StorageFully ProgrammableHigh-PerformanceData Plane for Storage
Q3-2021 Q4-2021
End-Customer Pilots
Mass Production
STORAGE CARDS
STORAGE APPLIANCES
K200-LP – PROD
© Kalray SA. Confidential Page 25
FLASHBOX™ BUSINESS MODELYou Have Two Options
TURN KEY APPLIANCE
AccessCore®Storage Software Suite
BUILD YOUR OWN
Delivered with ready-to-use
Develop & customize your own solution with
AccessCore®Storage Software Suiteand SDK
© Kalray SA. Confidential Page 26
SMART STORAGE ADAPTERS For VM Environment Optimization
FLASHBOX
VM EnvironmentCo-development of a solution to optimize data centers running virtualized environment
DATA CENTER
H12022
© Kalray SA. Confidential Page 27
OPTIMIZE VIRTUALIZED ENVIRONMENT THANKS TO KALRAY CARDBring Power Optimized Virtualization Environment
Existing architectures face huge challenge in term of performance and power consumption due to:- More and More VM- More and More Tenants (Security)- Faster Networks- Much, much, much Faster Stockage
© Kalray SA. Confidential Page 28
FLASHBOX
5G Co-development of a new type of 5G server, optimized in term of flexibility, performance and power consumption.
DATA CENTER
5G ACCELERATORFor 5G Open-Ran
END2022
© Kalray SA. Confidential Page 29
ACCELERATORS AT THE HEART OF NEXT GEN 5G SOLUTIONS
“Accelerators Will Play a Key Role in 5G and Edge Computing”From Dell Technologieshttps://www.delltechnologies.com/en-us/blog/accelerators-will-play-a-key-role-in-5g-and-edge-computing/
© Kalray SA. Confidential Page 30
PROJECT DESCRIPTION
Kalray K200-LPPCIe/EthernetAcceleration Cardbased on Kalray Processor Coolidge
AI & ComputeAccelerationEdge (MEC)
Platform of ServicesOperator
SmartNIC Network & Security
Open RAN Layer 1
Telecom / Edge Serveur
Integrated Solution optimized for 5G Edge Data Centers
Radio
NetworkingSecurity
Apps/AI
StockageStockage
One Experiment
Intelligent Transport System
© Kalray SA. Confidential Page 31
www.kalrayinc.com
AUTOMOTIVE
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© Kalray SA. Confidential Page 32
AUTOMOTIVE MARKET
32
2024
© Kalray SA. Confidential Page 33
KALRAY SELECTED AS A CENTRAL COMPUTING PLATFORMLeveraging Kalray’s Technology to Integrate L1/L2 functions
Central Compute
© Kalray SA. Confidential Page 34
STORAGE SOLUTIONS
REVENUE RAMP UP
~ €2M TEN OF MILLION
END-2021
VM ACCELERATION CARDS
5G CARDS
SMART VISION CARDS
2022 2023 2024
100 MILLIONS …
AUTO
Coolidge™ 1 Coolidge™ 2
Page 35 © Kalray SA. Confidential
Agenda
Page 35 © Kalray SA. Confidential
1. Kalray in a Nutshell
2. Kalray FLASHBOX™ Launch
3. Key Facts
4. H1-2021 Financial Results
5. What’s Next?
6. Q&A Session
© Kalray SA. Confidential Page 36
Q&A SESSION
"Hands Up" button
MICROSOFT TEAMS
Keys " * " then " 6 "
PHONE
6
*
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www.kalrayinc.com
THANK YOU
www.kalrayinc.com
© Kalray SA. Confidential Page 38
KALRAY FLASHBOXTM demoFrom Sam Jones, Kalray DC SW Manager
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