Raspberry Pi Holdings Plc · LSE:RPI
Raspberry Pi — FY2024 Earnings Presentation
24 slides from Raspberry Pi's earnings presentation, Apr 2, 2025
Slide 1: Computing for everybody
Computing for everybody Final Results for the twelve months to 31 December 2024 1
Slide 2: Presentation Team and Agenda
Presentation Team and Agenda Agenda Dr Eben Upton CBE FREng Richard Boult Chief Executive Officer, Founder Chief Financial Officer • Introduction • Former Technical Director and • Held various senior financial roles with Distinguished Engineer at semiconductor Time Out Group and BCA Marketplace at •
Slide 3: Raspberry Pi at a Glance
Raspberry Pi at a Glance Our mission To put high-performance, low-cost, general-purpose computing platforms in the hands of people and organisations all over the world Headquartered Lifetime sales of Addressing a large and Global sales reach via Supportive strategic Strong ESG credentials in Cambrid
Slide 4: FY 2024 Operational Highlights
FY 2024 Operational Highlights Successful IPO, strong uptake of Raspberry Pi 5 and a record number of product launches Coins with solid fill IPO Market Innovation Commercial progress Successful IPO raising £143.1m Completed our recovery from 22 new product launches Completed Raspberry Pi 5 ($180.0m)
Slide 5: Financial Review of FY 2024
Financial Review of FY 2024 Raspberry Pi Holdings plc April 2025 5
Slide 6: FY 2024 Financial Highlights
FY 2024 Financial Highlights Resilient FY 2024 against a backdrop of industry wide de-stocking post an exceptional FY 2023 • 2023 strong demand post recovery Unit Volume GP per Unit Gross Profit Gross Margin from pandemic-related supply chain shortages 7.0m $7.4 $63.2m 24.4% (2023: 7.4m) (2023: $8.6
Slide 7: Units and Profitability
Board Units and Profitability Annual Units Units half-by-half split Gross Profit per Unit 10.0 8.0 7.4 7.0 90% 7.0 9.0 0.6 7.0 82% 83% 80% 1.3 6.0 76% 8.0 1.2 6.0 70% 2.1 7.0 5.0 65% 60% % of units sold Directly 5.0 6.0 4.0 0.8 $s Units '000 50% Units '000 4.0 5.0 3.0 1.3 40% 4.0 8.6 3.0 6.1 0.8 7.4
Slide 8: Income Statement
Income Statement Income Statement Key Items $million 2024 2023 Change % Change Gross Profit: Revenue 259.5 265.8 (6.3) (2)% • Decreased by $2.8m – board GP per unit down reflecting lower Pi 5 and more low GP Picos and Gross profit 63.2 66.0 (2.8) (4)% Zeros. Partially offset by accessories profits a
Slide 9: Balance Sheet Summary
Balance Sheet Summary Intangibles Intangibles: • Increased due to ongoing development of new boards and semiconductor products $73.2m Inventory: (2023: $58.6m) • Inventory of finished goods increased to $63.8m (December 2023: $40.7m) due to increased holdings of finished boards as Raspberry Pi 5 and
Slide 10: Cash flow Summary
Cashflow Summary Cash flow Summary 90.0 Inventories: 80.0 $37.2m • $51.1m cash outflow on increased inventory with a fairly even split between finished boards and components • Increase in finished boards reflected the holdings of 70.0 Raspberry Pi 5 boards and compute modules which rose to levels ne
Slide 11: Re-investing for the Medium-term Future
Re-investing for the Medium-term Future Investing in R&D and Inventory to secure the long-term platform roadmap, deepening the competitive moat and supporting our margin structure Average Selling Price and Gross Margin by Product Category 2024 Pico Gross Margin % Grow unit sales R&D in own-silicon t
Slide 12: Strategy update
Strategy update 1. Product 2. Reseller Network 3. Industrial & Embedded opportunity 4. Growing Direct to OEM 5. Education and Enthusiast Raspberry Pi Holdings plc April 2025 12
Slide 13: Record Year for Product Launches
Record Year for Product Launches – wide range of both Industrial and Enthusiast Products New Pico 2 Compute Module 5 Raspberry Pi 500 and Monitor product Based on our new RP2350 A powerful system on module aimed at OEM A powerful desktop computer built into a launches microcontroller, with faster pr
Slide 14: Product: 2025 Outlook
Product: 2025 Outlook CM5 design-ins Pico 2 connectivity AI RP2350 Ramping design wins and end- Expanding the Pico lineup into other Build on integrations with Halo and Commercial launch of our next customer engagement of CM5 connectivity options Sony to deepen AI integration generation microcontrol
Slide 15: Growth in Global Reseller Network
Growth in Global Reseller Network Geographic location of ARs added in 2024 Authorised Resellers Argentina Australia Belgium Colombia France India Ireland 117 Up 12% (2023: 104) Japan Poland Qatar Sweden Ukraine Tunisia Turkey Focus on expanding geographic reach and industrial expertise in our AR net
Slide 16: Direct to OEM - target industrial markets
Direct to OEM - target industrial markets AgriTech Aerospace Audio Automotive Digital Signage Routes to Success EV Infrastructure Retail & POS Industrial Automation Medical & Healthcare Thin Clients Target end markets Perception: Enthusiast vs IoT Gateways RFID Gaming Smart Home Sensor Industrial In
Slide 17: Success Stories
Success Stories MixPilot RevPi Connect 5 industrial computers Design partnership with SECO MixPilot from Giatec is a self-calibrating, non-invasive hardware The latest member of the KUNBUS Revolution Pi product line SECO are developing a 10.1-inch Human-Machine Interface (HMI) solution for real-time
Slide 18: Raspberry Pi illustrative embedded use cases
Raspberry Pi illustrative embedded use cases 7 1 Passenger Volume monitoring device 2 Smart Lighting 3 Vending Machine 2 4 Ticket Machine 1 12 5 Low Power Transportation 10 11 9 1 6 Elevator 6 3 7 Air Quality Detector 7 8 8 Digital Advertising 9 Energy usage monitoring 10 Escalator 11 Arrivals/Depar
Slide 19: FY 2025 Outlook
FY 2025 Outlook Market Units Profitability With channel inventory now normalised, we The projected pace of market recovery, coupled Gross profit per unit is expected to increase year- anticipate a steady build-up in demand throughout with the timing of embedded design wins, on-year. Sufficient suppl
Slide 20: Q&A
Q&A Raspberry Pi Holdings plc April 2025 20
Slide 21: Appendix
Appendix Raspberry Pi Holdings plc April 2025 21
Slide 22: Our people and approach to sustainability
Our people and approach to sustainability Engineering led culture Our approach to sustainability is underscored by the four pillars of our social Entrepreneurial mindset placing engineers at mission • the forefront of innovation • Focus on creating a unique work environment built around skill sets F
Slide 23: The Board
The Board Independent Non-Executive Members of the Board of Directors Martin Hellawell Sherry Coutu CBE David Gammon HonFREng Independent Non-Executive Chair Senior Independent Non-Executive Independent Non-Executive Rachel Izzard Chris Mairs CBE Daniel Labbad Independent Non-Executive Independent N
Slide 24: Investment Case: Raspberry Pi is the leader in versatile computing
Investment Case: Raspberry Pi is the leader in versatile computing De-risking of Extensive product range and 1 High barriers to entry 2 3 established customer base long-term growth Deep moats: A 12-year investment in hardware, software, Large and growing markets: $21 billion and growing total Broad