Shares in Raspberry Pi have rocketed 26% today after it reported strong trading in the first half of the year.
Units for the first half are expected to be over four million and adjusted EBITDA at least $38 million.
The strong profitability delivered in the first half is expected to result in FY 2026 EBITDA being significantly ahead of current market expectations.
The Cambridge-based firm is behind low-cost miniature computers which were initially used extensively in education before becoming a favourite among hobbyists.
The company, which listed in 2024, said recently that it is “graduating from maker culture and hobbyist fan fave to something more mature”.
Trading in the first half of the year – the six months ending 30th June 2026 – has been strong, it said, “with profitability materially ahead of the comparable period in FY 2025”.
“Performance has been supported by continued growth in unit volumes, a favourable product mix, and the ongoing utilisation of low-density DRAM inventory accumulated throughout FY 2025,” it added.
Despite DRAM-related price increases, the company has seen continued robust demand for its products from OEMs and other customers, it added.
“In the second half, the company will focus on the strategic opportunity to gain market share and further strengthen customer relationships. Unit economics are expected to moderate in H2 as inventory of memory procured at a lower cost in earlier periods is depleted.”
While macroeconomic uncertainty persists, and the pricing and availability of DRAM and non-volatile memory remains challenging, the company is confident that it can secure the inventory necessary to meet its FY 2026 production goals.
“The company continues to benefit from its existing memory vendor relationships, and to identify and onboard new vendors. Given the opportunity to make strategic purchases of memory inventory, the company expects to appropriately utilise its debt facilities through FY 2026,” said Raspberry Pi.
Its share price is up almost 250% in the year to date and currently priced at 1,041 pence, giving it a market cap of over £2 billion.
Its offer price at IPO was 280p.
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