REG - Raspberry Pi Hldgs - Trading Update

Raspberry PI HoldingsAnnouncement

29/01/2025 07:00

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RNS Number : 0176V  Raspberry Pi Holdings PLC  29 January 2025

29 January 2025

 

Raspberry Pi Holdings plc

("Raspberry Pi", the "Group", or "the Company")

 

Trading Update for the 12 months to 31 December 2024

 

Highlights include new design partnerships and successful product launches

 

Channel inventory levels continue to normalise

 

 

Raspberry Pi (LSE: RPI), a leader in low-cost, high-performance computing,
today issues a trading update for its financial year ended 31 December 2024
("FY 2024").

Group trading performance

As anticipated at the interim results in September, elevated customer and
channel inventory levels continued to normalise in the second half of the
year. Monthly unit shipments recovered steadily from their low point in the
summer, with total Single-Board Computer and Compute Module shipments reaching
7.0 million across FY 2024. Gross profit from the sale of accessories and
microcontrollers was strong in the second half and this, together with good
cost discipline, means the Board expects to report (subject to external audit)
adjusted EBITDA of not less than $36m for FY 2024.

Cash at 31 December 2024 was c.$45m after strategic purchases of components
and continued investment in the Company's product roadmap.

Product launches in the second half included Pico 2 (August), Compute Module 5
(November), and a variety of well-received accessories; more than twenty new
products were released in the year. Raspberry Pi expects to realise the full
benefit of these launches in 2025. The Company was particularly pleased to
announce Compute Module 5 design wins with long-standing OEM customers at
launch, as well as a new long-term strategic design partnership with SECO,
both highlighting the progress of Raspberry Pi's direct-to-OEM strategy.

Outlook

Looking ahead, Raspberry Pi expects demand to build gradually through the
year, despite a challenging macroeconomic backdrop and market conditions
reported by the wider industrial sector. Medium-term fundamentals remain
extremely positive. The Company has a sufficient supply of memory to meet
expected demand into Q3 of this year, giving it confidence in its unit
economics for FY 2025. In addition, the Company is encouraged by an increasing
number of direct discussions with major prospective OEM customers.

Notice of results

The Group will report its FY 2024 results on Wednesday, 2 April 2025.

 

Eben Upton, CEO of Raspberry Pi said:

"We are proud of the Group's performance in our first year as a PLC, achieving
significant milestones, including listing the company on the London Stock
Exchange, our inclusion in the FTSE 250 index, and the successful launch of
key products, against a backdrop of challenging end-market demand. We have
worked hard to launch a variety of accessory products aimed at our Education
and Enthusiast customers and are pleased with the progress we are making in
the Industrial and Embedded market. With an exciting product roadmap and
ongoing initiatives to strengthen our market position, we look to the future
with confidence and are excited about the opportunities that lie ahead."

 

 

 

For more information, please contact:

 

 Raspberry Pi Holdings plc
 Eben Upton, CEO, Richard Boult, CFO            Alma Strategic Communications
 Andy Bryant - IR                               investors@raspberrypi.com (mailto:investors@raspberrypi.com)

 Alma Strategic Communications                  T: +44 (0)203 405 0205
 Josh Royston, Caroline Forde, Hannah Campbell  raspberrypi@almastrategic.com (mailto:raspberrypi@almastrategic.com)

 

Notes to Editor

 

Headquartered in Cambridge, UK, Raspberry Pi's mission is to put
high-performance, low-cost, general-purpose computing platforms in the hands
of enthusiasts and engineers all over the world.

 

Raspberry Pi is a full-stack engineering organisation, with research and
development capabilities spanning the entire value chain, from semiconductor
IP development, through semiconductor and electronic product design to
software engineering and regulatory compliance. The high performance, low
cost, and physical robustness of Raspberry Pi products make them suitable for
a wide range of applications, across three distinct markets: Industrial and
Embedded, Enthusiast and Education and Semiconductors. To date, over 60
million units have been sold.

 

 

 

 

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