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Investing.com -- Raspberry Pi Holdings (LSE:RPI) on Tuesday reported a 6% decline in first-half revenue to $135.5 million, but showed signs of momentum building with direct sales of single-board computers and Compute Modules increasing 21% compared to the same period last year.
The company’s gross margin improved to 25% from 24% in H1 2024, while adjusted EBITDA was $19.4 million, down 7% year-on-year but up 19% sequentially from H2 2024.
Direct unit shipments to Approved Resellers and OEMs grew 13% compared to H1 2024 and 8% sequentially, driven by strengthening demand for existing products and new product launches. For the first time, semiconductor unit volumes at 4.5 million were higher than board unit volumes.
"We continued to build momentum in the half, with growing demand from our reseller channel and OEMs driving an 8% sequential increase in direct unit shipments and a significant customer order backlog at the end of June," said Eben Upton, CEO of Raspberry Pi.
The company launched seven new products in H1 2025, with a similar number expected in the second half. Microcontroller unit sales increased by 105% to 4.5 million units compared to H1 2024.
Raspberry Pi reported that the second half has started well with EBITDA ahead of last year. The company expects higher volumes in H2 supported by strengthening demand and a substantial order backlog. Profit expectations for the full year remain unchanged.
The company noted it has sufficient DRAM supply to meet its FY2025 sales goals despite recent price increases in the memory market, and has several options to mitigate shortages or further price rises in FY2026.
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