London · Delayed Price · Currency is GBP · Price in GBX Raspberry Pi Holdings Earnings Call Transcripts
Fiscal Year 2025
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2025 delivered record growth in units, revenue, and EBITDA, with strong demand in the US and China and a 47% surge in chip sales. Elevated DRAM prices will pressure margins in 2026, but robust inventory and supplier relationships support continued growth.
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Shipments and EBITDA rose sharply in 2025, with strong demand in the US and China and a 47% surge in chip sales. Gross profit per unit increased, but rising memory costs are expected to pressure margins in 2026. The company is expanding supplier relationships and expects revenue growth to outpace profit.
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First half 2025 saw a recovery in demand, improved product mix, and strong industrial/OEM sales, with gross profit per unit at $8 and adjusted EBITDA of £19.4 million. Cash declined due to working capital normalization, but outlook remains positive with sufficient DRAM supply and continued innovation.
Fiscal Year 2024
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2024 saw a successful IPO, record product launches, and a shift to industrial markets. Gross profit per board declined due to product mix, but overall margins held steady. Inventory and CapEx rose to support new launches and supply chain resilience.
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Strong H1 performance with 31% unit growth, 47% higher gross profit, and successful IPO funding future R&D and supply chain resilience. New AI and cloud products launched, with industrial customers driving 70-80% of revenue. Inventory and margin management remain key focus areas.
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Strong H1 performance with 61% revenue growth, 31% higher unit sales, and robust profit margins, driven by new product launches and recovery from supply chain shortages. Inventory and costs rose, but cash position remains solid, and full-year guidance is unchanged.