Raspberry Pi Holdings PLC (LSE:RPI) told investors it is expecting demand to “build gradually through the year” with its marker described as “challenging”, albeit the home-brew PC maker said the medium-term outlook remained “extremely positive”.
The company, in a trading update covering its first financial year-end as a listed company following its June IPO.
In Wednesday's statement, the company reported it had shipped 7 million units of its Single-Board Computers and Compute Modules in 2024.
It expects to report earnings (adjusted EBITDA) of at least $36 million for 2024, supported by strong gross profit from accessories and microcontrollers.
Raspberry Pi highlighted that with investments in R&D and product development, it launch more than 20 new products in 2024.
"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,” chief executive Eben Upton said in a statement.
“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."
Raspberry Pi had $45 million of cash at the end of December.
In London, the share was down around 2% in Wednesday’s early deals, changing hands at 723p, valuing the specialist computer firm at just under £1.4 billion.