Raspberry Pi confirms listing in boost for London
Raspberry Pi, a leader in low-cost, high-performance computing has today announced its intention to float on the Main Market of the London Stock Exchange.
In an announcement this morning, the company said that it intends to publish a registration document, which would be the first step in the listing process.
The company is a leading designer and developer of high-performance, low-cost single board computers (SBCs) and since it began trading in 2012, it has sold 60m SBCs and compute modules, of which 7.4m were sold in 2023.
The company has estimated its total addressable market for these products could be in the region of $21.2bn (£16.4bn).
For the year ended 31 December 2023, revenues were $265.8m (£211), with gross profit of $66m (£52m) and operating profit of $37.5m (£29m), as well as adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $43.5m (£34.6m).
The company has been a subsidiary of the Raspberry Pi Foundation, a UK charity founded in 2008, with the goal of promoting interest in computer science among young people. It has distributed $50m in dividends to the foundation since 2013.
Eben Upton, CEO of Raspberry Pi, commented: “When we released our first product in 2012, our goal was to provide a computer that was affordable enough for young people to own and explore with confidence, giving them the chance to discover computing and get excited about it.
Upton added: “Raspberry Pi’s unique culture is driven by an exceptional team, dedicated to doing excellent work that pushes the boundaries of computing innovation. We build the products we want to use ourselves, and we’re not easily satisfied.”
“In an ever more connected world, the market for Raspberry Pi’s high-performance, low-cost computing platforms continues to expand. We have the technology roadmap to play an increasingly significant role, and we are excited to embark on the next stage of our growth,” The CEO summarized.
This is a developing story.