Strong first year for Raspberry Pi with more to come

Announcing its results for the financial year to December 31, the company spelled out a series of successes.

Cash at year-end was c.$45 million – and that was 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 20 new products were released in the year.

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

Eben Upton 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.”