RASPBERRY PI HOLDINGS PLC (RPI) — Final results for the year ended 31 December 2025

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to the Raspberry Pi Holdings PLC final results investor presentation. Throughout this recorded meeting, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time just using the Q and A tab. Simply type in your questions and press send. Before we begin, we'd like to submit the following poll, and I'm sure the company would be most grateful for your participation. And I'd like to hand over to the management team. Good afternoon. Good afternoon. So welcome to our results presentation for 2025. Rich and I are going to walk you through some abbreviated highlights of the year, a summary of our financial performance, we'll give an update on our progress against our strategy and conclude with some words on the outlook for the remainder of 2026. So in summary 2025 was an absolutely standout year for us. Shipments of boards and modules increased by 9% to 7,800,000 units and that delivered a 25% increase in EBITDA. We saw demand for our products build steadily throughout 2025. The second half was noticeably stronger than the first half and within that the fourth quarter stronger than the third. We saw particular strength in our two largest markets, The United States and China. As we speculated in our half year results, this was indeed the crossover year for our semiconductors business. We saw a 47% year on year increase in chip sales to 8,400,000 units, meaning that we sold more chips than boards for the first time. Raspberry Pi is at heart a product company and we love to launch products more than pretty much anything else. 2025 was a somewhat slower year for us than 2024 in terms of product launches, but still one of our strongest historically. We launched many new hardware products inc...