British single-board computer (SBC) maker Raspberry Pi narrowly surpassed annual core profit expectations, driven by strong sales of its flagship Raspberry Pi 5 and semiconductor units.
The company, which went public in June last year, specializes in low-cost SBCs, accessories, and microcontrollers that are utilized in smart-home systems, robotics, automated systems, and video game emulators.
For the year ending December 31, 2024, Raspberry Pi reported core earnings of $37.2 million, exceeding the consensus estimate of $36.6 million, although this figure represented a 15% decline compared to 2023 due to inventory challenges that impacted profits in the second and third quarters.
Looking ahead, Raspberry Pi predicted "sustainable" sales growth for 2025, anticipating a steady increase in demand throughout the year.