Fresh after London’s largest technology IPO of 2024, the computing and technology company announced a solid set of first half results on Tuesday. Raspberry Pi raised $179m in June this year.
Despite marginally lower volumes than the comparative period, Raspberry Pi’s overall performance was better than expected during the period.
EBITDA was 55% higher in H1 2024 than in H1 2023 due to issues with supply in the first half of last year which made this year’s number look that much better.
Investors will also be encouraged to hear that the company sees higher volumes in the second half.
“The IPO was the watershed moment of the first half, with Admission to trading just two weeks before the period end,” said Eben Upton, CEO of Raspberry Pi.
“In continued pleasing trading in the first half, we saw strong uptake of our latest flagship SBC, Raspberry Pi5, the launch of the Raspberry Pi AI Kit, and the successful ramp to production of RP2350, our second-generation microcontroller platform. The higher than usual customer and channel inventory levels which were evident at the time of the IPO have continued to unwind, and there is a growing sense that this will have concluded by the year end.
“We have an extraordinary team, a world class product set backed up by an exciting future roadmap, and a loyal and engaged customer base that we can continue to grow. In the second half, we have further planned product releases and a number of initiatives to further expand our engagement within our Industrial and Embedded market”.