Raspberry Pi, the UK-based maker of inexpensive microcomputers, has reported stronger-than-expected earnings in its first monetary replace since going public on the London Inventory Trade in June.
The corporate, which raised £178.9 million via its preliminary public providing and joined the FTSE 250, noticed year-on-year gross sales soar 61% to $144 million within the six months to June 30, whereas pre-tax revenue remained regular at £10.8 million.
The corporate’s shares surged by greater than 10% on Tuesday, settling up 6.6% at 371¼p. Raspberry Pi offered 1.1 million items of its newest mannequin, the Raspberry Pi 5, launched in October 2023, contributing considerably to its first-half efficiency, which surpassed inner expectations.
Regardless of the restoration from pandemic-induced provide chain disruptions, Raspberry Pi continues to expertise some challenges, notably with semiconductor provide. CEO Eben Upton defined that lingering demand imbalances, attributable to over-ordering throughout shortages, are slowly correcting.
Analysts at Jefferies famous that whereas the second half is likely to be barely weaker resulting from ongoing stock corrections and lower-value product gross sales, the outlook for 2025 stays optimistic, with beneficial reminiscence pricing and better gross sales anticipated.
Initially based as a charity in 2008 to encourage extra younger individuals to check laptop science, Raspberry Pi turned a industrial success, with the Raspberry Pi Basis retaining a 47% stake after the float. The corporate has expanded its choices, together with new merchandise targeted on AI {hardware}, in partnership with Hailo AI, and its first cloud product, Raspberry Pi Join, which permits distant system entry for $6 per yr.
