Raspberry Pi has reported a 2.2 per cent dip in its stock price following an announcement that its adjusted operating profit is likely to be at the lower end of market expectations.
The Cambridge-based technology company anticipates its full-year adjusted operating profit to exceed $36m (£28.9m), which falls short of the $35m to $40.8m range analysts had predicted, as reported by .
In its latest trading update, Raspberry Pi revealed that monthly unit shipments have rebounded from their summer low, reaching 7m throughout 2024, yet this figure did not meet the 7.6m forecast by analysts at Peel Hunt.
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Despite the somewhat underwhelming shipment numbers, Peel Hunt analysts suggest that the firm has successfully transitioned from its non-profit origins and engineering-centric approach.
The tech firm also disclosed it has $45m in cash reserves, with new product launches in the latter half of the year including the Pico 2 and Compute Module 5.
Looking forward, Raspberry Pi expects "demand to build gradually" over the coming year and highlighted an "increasing number" of direct discussions with Original Equipment Manufacturers (OEMs).
Since its initial public offering (IPO) in June, Raspberry Pi's stock price remained relatively stable until December, when it experienced a surge of over 90 per cent in just two months.
This significant increase was partly driven by the acquisition of a 3.59 per cent stake in the company by US hedge fund SW Investment Management, contributing to a robust Christmas performance.
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Raspberry Pi CEO Eben Upton expressed pride in the company's performance in its first year as a PLC, stating: "We are proud of the group’s performance in our first year as a PLC, achieving significant milestones, including listing the company on the London Stock Exchange, our inclusion in the FTSE 250 index, and the successful launch of key products, against a backdrop of challenging end-market demand,"
He added that they have worked diligently to introduce a range of accessory products targeted at their education and enthusiast customers and are satisfied with the progress being made in the industrial and embedded market.
"With an exciting product roadmap and ongoing initiatives to strengthen our market position, we look to the future with confidence and are excited about the opportunities that lie ahead."
Raspberry Pi is scheduled to announce its full-year results on 2 April.