They are both. There is a non profit foundation which funds the educational side and the main company which operates for a profit. I suspect the bulk of their revenue comes from the industrial side of things where the Pi makes a much better base than a lot of the half assed hacked together SBC’s out in the market.

There have certainly been mis-steps asking the way but all in all I consider the Pi to be a British success story. I guess it remains to be seen how much of the valuation goes to the founders and employees and how much is invested into their next phase of growth.