23rd Sep 2025 09:22
(Alliance News) - Raspberry Pi Holdings PLC on Tuesday blamed reduced royalty income and lower related component sales for a drop in half-year revenue, which contributed to a slump in profitability.
The Cambridge, England-based maker of personal-use computers and modules, which debuted on the London stock market in June 2024, said pretax profit fell 43% to USD6.2 million for the six months to June 30 from USD10.8 million the year before.
Adjusted earnings before interest, tax, depreciation and amortisation slipped 7.2% to USD19.4 million from USD20.9 million.
Revenue declined 5.9% to USD135.5 million from USD144.0 million, as a result of reduced royalty income and lower related component sales, while research and development expenses rose 38% to USD11.7 million from USD8.5 million.
Unit volumes were flat compared to the "strong" first half a year ago, but increased 9% sequentially on the second half of financial 2024, the firm explained.
Raspberry Pi shares were 5.0% lower at 381.60 pence each on Tuesday morning in London, giving it a market capitalisation of GBP744.3 million. They are up 36% from their 280p initial public offering price but more than halved from a high of 780p earlier this year.
The FTSE 250 listing said the second half has started well with Ebitda ahead of last year with volumes expected to be higher supported by strengthening demand and a substantial order backlog.
Profit expectations for the full year remain unchanged, the firm said, noting it has sufficient dynamic random-access memory supply on hand and on order to meet its full year sales goals and several commercial and technical options to mitigate shortages or further price rises in financial 2026.
"For the full year, we remain on track with profit expectations unchanged, underpinned by strong anticipated sales volumes and unit economics in the second half. We are encouraged by the uptake of new products, expanding OEM engagement, and the first instance of semiconductor volumes exceeding
board volumes," commented Chief Executive Eben Upton.
Raspberry Pi said financial 2025 is on-track to be the first full year in which semiconductor unit volumes are higher than board unit volumes.
By Jeremy Cutler, Alliance News reporter
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