Raspberry Pi Holdings PLC (LSE:RPI) shares climbed 7.5% to 506p after it published the first set of full-year results following its London IPO last year and said it expected a “steady build-up in demand” through 2025.
The UK-based maker of single-board computers for hobbyists to industrial uses reported a 2% fall in revenue and a 57% decline in profits as it focused on launching its highest ever number of new products, including debut AI hardware in collaboration with Hailo and Sony.
Revenue for the calendar year came to $259.5 million, down 2% from the previous year as unit volume fell 5% to roughly seven million, though 22 product launches was up 267% from the year before, while the number of resellers rose 13%.
Profit before tax of $16.3 million, down from $38.2 million last time due to higher R&D and admin costs, amortisation and depreciation.
The year finished with net cash of $45.8 million thanks to the £31.4 million ($40 million) of the funds raised in the London listing last June.
On the outlook, the FTSE 250 company said: “With channel inventory now normalised, Raspberry Pi anticipates a steady build-up in demand throughout the year, positioning us strongly despite ongoing macroeconomic and geopolitical uncertainties.
“The projected pace of market recovery, coupled with the timing of embedded design wins, strengthens confidence in solid and sustainable sales growth in full-year 2025.”
The results were broadly in line with expectations, analysts at house broker Peel Hunt said.
The IPO was priced at 280p last June, generating £166 million of proceeds – of which £31 million was new capital for the company – and valued the company at £541 million on debut.
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