Raspberry Pi interim profits slide on tough comparatives
By Iain Gilbert
Date: Tuesday 23 Sep 2025
(Sharecast News) - High-performance computing firm Raspberry Pi reported a drop in both revenue and profits for the first half of 2025, as it cycled through tough comparatives following last year's Raspberry Pi 5 launch.
Raspberry Pi said royalty and component sales were lower year-on-year, leading to a 6% decline in revenue to $133.5m, while adjusted underlying earnings fell 7% to $19.4m and pre-tax profits sank 43% to $6.2m. On the other hand, gross margins improved slightly ticking up by one percentage point to 25%.
The London-listed firm cited a return to more normalised market dynamics and a shift in product mix as key factors behind the softer top-line performance.
Despite the headline decline, Raspberry Pi pointed to strong operational progress, with direct sales of single-board computers and Compute Modules rising, offsetting weaker licensee volumes. Semiconductor shipments overtook board volumes for the first time, driven by robust demand for RP2040 and RP2350 microcontrollers.
Raspberry Pi stated momentum had continued to build across direct-to-reseller and OEM channels, with a growing pipeline of design wins and a substantial order backlog and highlighted that it was well-positioned to manage dynamic random-access memory price volatility, with sufficient supply on hand.
It also reiterated full-year profit guidance and noted that H2 had started well, with EBITDA ahead of the same period last year.
Reporting by Iain Gilbert at Sharecast.com
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