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Highlights

  • Raspberry Pi 5 success: Sold 1.9 million units following its launch in late 2023.

  • IPO milestone: Raised £143.1 million ($180 million), leading to FTSE 250 index inclusion.

  • Improved inventory and demand: Pandemic-related shortages resolved, with market demand picking up in Q4.

Raspberry Pi (LSE:RPI), the well-known provider of affordable high-performance computing, has reported its audited financial results for the year ending 31 December 2024. Despite facing market challenges, the company saw significant progress in product innovation, industrial partnerships, and a successful IPO .

Expansion of Product Line Fuels Growth

The year was marked by 22 product launches, including the widely embraced Raspberry Pi 5, which sold 1.9 million units within its first full year on the market. The company's first AI hardware products, the Raspberry Pi AI Kit and Raspberry Pi AI Camera, were introduced through collaborations with Hailo and Sony.

Additionally, Raspberry Pi expanded its microcontroller offerings with the RP2350, powering the Raspberry Pi Pico 2 and other partner devices. The launch of the Compute Module 5 in November provided enhanced storage and connectivity options, catering to both enthusiasts and industrial users.

Successful IPO Boosts Financial Position

A major milestone for Raspberry Pi in 2024 was its highly successful Initial Public Offering (IPO). The company raised £143.1 million ($180 million) to support the Raspberry Pi Foundation, which retains a 46.7% ownership stake. An additional £31.4 million ($40 million) was secured for corporate development.

The listing resulted in Raspberry Pi's inclusion in the FTSE 250 index in September and recognition with the London Stock Exchange's Green Economy Mark, highlighting its contribution to energy-efficient computing.

Inventory and Market Demand Show Recovery

A key challenge for Raspberry Pi in recent years was pandemic-related supply shortages, which had constrained product availability. In 2024, the company fully recovered its inventory levels, ensuring that all Single Board Computers (SBCs) and Compute Modules were readily available for customers.

However, a correction in channel inventory over the summer led to lower sales and profits in Q2 and Q3. By the end of the year, market conditions had improved significantly, with demand continuing its upward trend into 2025.

Industrial Partnerships Open New Avenues

Raspberry Pi's enhanced market presence post-IPO has led to deeper engagement with industrial clients. In November, the company announced a strategic partnership with SECO S.p.A, a leader in IoT solutions and industrial hardware. The company is also engaged in high-level discussions with various industrial OEMs, which are expected to drive future growth.

Outlook for 2025 and Beyond

Looking ahead, Raspberry Pi expects steady demand growth throughout 2025, despite ongoing macroeconomic uncertainties. With a robust product release schedule, the company anticipates an increase in gross profit per unit, aided by secured memory supply through Q4 2025.

Additionally, discussions with major OEMs are expected to contribute significantly by 2026.