Stock points drove down pre-tax revenue by greater than half within the first full-year of outcomes for laptop maker Raspberry Pi since its IPO final June.
The FTSE 250 agency reported revenue earlier than tax of $16.3m for the 12 months ended December 2024, 57% down from 2023.
Partly this was all the way down to shortages of single board computer systems and compute fashions, originating from the pandemic. The corporate mentioned it has now accomplished its provide restoration and anticipates a gradual build-up in demand for 2025.
Raspberry Pi additionally famous elevated administrative prices because of the further necessities of being a public firm. Whole income over the interval fell 2% to $259.5m.
Final 12 months, the corporate listed on the London Inventory Trade in an IPO that raised £143.1m in an in any other case dry 12 months for UK tech listings.
The share worth has been considerably risky since then, peaking in January at £76.60 earlier than tumbling greater than 30% by late March. Raspberry Pi inventory jumped as a lot as 10% on Wednesday.
“The IPO in June 2024 has undoubtedly prolonged consciousness of Raspberry Pi’s worth proposition from the engineering division to the C-suite at main OEMs,” mentioned CEO Eben Upton.
“Within the second half we launched extra merchandise than in any prior full 12 months, regardless of the potential distraction of the IPO, persevering with to excite our fanatic and embedded communities.”
Upton mentioned he was “assured” the corporate would see “gradual enhancements” in end-demand in 2025.
The first half of 2024 noticed sturdy gross sales from the corporate, 61% larger than the identical interval within the earlier 12 months. However within the second half of the 12 months, demand for its merchandise normalised.
Bookmark your favourite posts, get day by day updates, and revel in an ad-reduced expertise.
