Business
H1 2025 Results
Raspberry Pi Holdings PLC reported its unaudited results for the first half of 2025, showing a revenue of $135.5 million, a 6% decrease compared to H1 2024's $144.0 million. Gross profit decreased by 3% to $33.2 million, while the gross margin increased to 25% from 24%. Adjusted EBITDA was $19.4 million, a 7% decrease year-over-year. Profit before tax was $6.2 million, down 43% from $10.8 million. Basic earnings per share decreased to 2.79 cents from 4.53 cents. The company's cash position stood at $34.3 million, a 15% decrease. Unit volumes were flat, but direct sales of single-board computers and Compute Modules increased 21%. The company launched 7 new products in H1 2025. Profit expectations for the full year remain unchanged. Disclaimer*
About this update from Raspberry Pi Holdings Plc
[{"type":"text","content":"\n\n\n23 September 2025\n \nRaspberry Pi Holdings plc\n(\"Raspberry Pi\", \"the Company\", or \"the Group\")\n \nAn encouraging first half with momentum building, positioning the Group for continued growth in the second half\n \n \nRaspberry Pi (LSE: RPI), a leader in high-performance, low-cost computing, is pleased to announce its unaudited results for the half year ended 30 June 2025 (\"H1 2025\").\nFinancial Highlights\n\n\n\n\n \n\n\nH1 2025\n\n\nH12024\n\n\n% change\n\n\n\n\nRevenue ($m)\n\n\n135.5\n\n\n144.0\n\n\n(6%)\n\n\n\n\nGross profit ($m)\n\n\n33.2\n\n\n34.2\n\n\n(3%)\n\n\n\n\nGross margin (%)\n\n\n25%\n\n\n24%\n\n\n+1ppt\n\n\n\n\nAdjusted EBITDA* ($m)\n\n\n19.4\n\n\n20.9\n\n\n(7%)\n\n\n\n\nProfit before tax\n\n\n6.2\n\n\n10.8\n\n\n(43%)\n\n\n\n\nBasic Earnings Per Share (EPS) (c)\n\n\n2.79\n\n\n4.53\n\n\n(38%)\n\n\n\n\nAdjusted EPS (c)*\n\n\n4.76\n\n\n7.10\n\n\n(33%)\n\n\n\n\nCash ($m)\n\n\n34.3\n\n\n40.4\n\n\n(15%)\n\n\n\n\n \n*The Group uses certain measures in addition to those reported under IFRS, under which the Group reports. These Alternative Performance Measures (\"APMs\") are not considered a substitute for, or superior to, the equivalent statutory IFRS measures. These APMs are explained, defined and reconciled in the APM section and are applied consistently.\n\n\n\n\n• \n\n\nUnit volumes were flat compared to the strong H1 2024, which benefited from post-shortage channel re-stocking and the launch of Raspberry Pi 5 in Q4 2023, but increased 9% sequentially on H2 2024.\n\n\n\n\n• \n\n\nRevenues from direct sales of single-board computers (SBCs) and Compute Modules increased 21% compared to H1 2024 and by 27% sequentially, reflecting strengthening demand from existing and new OEM customers.\n\n\n\n\n• \n\n\nGross margin increased to 25% from 24% in H1 2024, and was flat sequentially.\n\n\n\n\n• \n\n\nProfitability was in line with the Board's expectations, with Adjusted EBITDA of $19.4 million, down 7% compared to H1 2024, but up 19% sequentially.\n\n\n\n\n• \n\n\nCash was $34.3 million after paying off extended payables, with further normalisation of creditor days expected through H2 2025.\n\n\n\n\nNon-Fin...