Raspberry Pi Profit Triples, Revenue Surges 90%

Raspberry Pi released its first-half 2026 trading update on Sept. 24, 2026. Revenue for the six months to June 30 rose 90% to $256.9 million and pretax profit rose to $19.6 million from $6.2 million. Adjusted EBITDA, or earnings before interest, tax, depreciation and amortisation, rose 108% to $40.3 million. Shipments rose 17% to 4.2 million units; the order backlog doubled to 2.6 million. Shares rose 7% to 668.50p at 1025 BST. The FTSE 350 company drew on 2025 strategic memory-chip inventory bought at lower prices to stay available, saw lower gross margin from higher memory costs, and lower net cash from that inventory spend. It launched the AI HAT+ 2 for Raspberry Pi 5 for more advanced on-device AI and raised full-year EBITDA guidance above consensus. CEO Eben Upton said demand from OEM customers, meaning original equipment manufacturers, and the reseller channel was strong, the backlog doubled, and the FY 2025 inventory decision kept product available when smaller competitors struggled to secure allocation. With a substantial backlog, expanding production capacity and a strong OEM pipeline, he said Raspberry Pi is well positioned for rapid growth in unit shipments in 2027 and beyond. AJ Bell's Dan Coatsworth said the business looks like an AI winner rather than a victim of disruption, has moved beyond hobbyists and educators into industrial and on-device AI use, and that memory stockpiles let it take share from less prepared rivals; rising input costs will weigh more in the second half as inventory runs down, though guidance was upgraded and the supply chain reinforced. Contested: none found.