Raspberry Pi 2 Model B Single Board Computer.
Ollie Curtis | Future Publishing | Future | Getty Images
British computer company Raspberry Pi, which went public in June, reported on Tuesday an adjusted profit of $20.9 million in the first half, stronger than expected, sending its shares up 7% in early trading.
The group, which makes low-cost single-board computers and microcontrollers, said it sold devices slightly below expectations but that sales were skewed toward higher-margin products, boosting profitability.
Its flagship Raspberry Pi5 2GB model retails for £46.60 ($62.24), with 1.1 million units sold in the six months to the end of June.
The company said it expects sales to increase in the second half of the year, supported by product launches, but that the combination will cause margins to return to lower levels and left its guidance unchanged for the year.
Chief Executive Eben Upton said the IPO, which took place two weeks before the end of the period, was a “watershed moment”.
“We've seen strong adoption of our latest flagship SBC Raspberry Pi5, the launch of the Raspberry Pi AI Kit, and the successful production launch of our second-generation microcontroller platform, the RP2350,” he said.
Raspberry Pi shares were trading at 364p in early trade, 30% higher than the listing price of 280p.