Raspberry Pi posts a 61% revenue increase in 2024’s first half post-IPO, driven by high demand for Pi 5 and easing supply chain constraints.

Raspberry Pi has experienced a remarkable 61% revenue increase in the first half of 2024, following its Initial Public Offering (IPO) on the London Stock Exchange in June 2024​. This financial achievement has been accompanied by significant growth in sales volumes and improvements in supply chain efficiency, making it a pivotal year for the company.

Post-IPO Financial Performance:

Raspberry Pi’s revenue reached $144 million in the first half of 2024, compared to the same period in 2023. The gross profit stood at $34.2 million, representing a 47% increase​.The company’s shares responded positively, rising from 350p to over 375p, indicating strong investor confidence​. 

This financial boost suggests that the IPO has allowed Raspberry Pi to access new capital, enabling it to scale operations and meet increasing demand.

Supply Chain Improvements and Growth Drivers:

One of the main contributors to this revenue growth was the easing of supply chain constraints. In 2023, 81% of unit sales were direct due to supply shortages, limiting the ability of licensees to access products. However, in 2024, direct sales dropped to 65%, while licensee sales rose to 35%, indicating a healthier and more diverse distribution model​

This shift has allowed Raspberry Pi to expand its reach and meet a growing demand, especially for its latest models.

Pi 5 Leading the Sales Growth:

The Raspberry Pi 5 has emerged as a top performer, contributing significantly to the overall increase in sales. Unit sales of Raspberry Pi products grew by 31%, reaching 3.66 million units in 2024 compared to 2.799 million in the same period last year​(Enterprise Technology News and Analysis). The Pi 5 alone accounted for 1.1 million of these sales, underscoring its popularity and the company’s ability to innovate with new products.

Growth in the Microcontroller Segment:

The microcontroller business also witnessed substantial growth, with sales rising from 1.65 million in the first half of 2023 to 2.153 million in 2024​(Enterprise Technology News and Analysis). 

This increase was fueled by the launch of new products, such as the RP2350 and Pi Pico 2, which have attracted a broad range of users, from hobbyists to professional developers.

The 61% revenue surge indicates Raspberry Pi’s strong market position and ability to capitalize on easing supply chain issues and product innovation. With the Pi 5 driving sales and continued growth in the microcontroller segment, the company appears poised for sustained success in the coming years.