Raspberry Pi earnings beat expectations as shares surge 26%
TL;DR: Raspberry Pi posted a 25% increase in annual earnings, beating market expectations. The company shipped 7.6 million single-board computers in the year, up 7% on 2024, while its semiconductor division grew 47% to 8.4 million units. Shares rose 26% on the results, reaching 365.5p.
Cambridge-based Raspberry Pi delivered a stronger-than-expected set of annual results on Tuesday, sending its shares up 26% in early London trading. The company, which listed at 280p per share in June 2024, saw its stock climb to 365.5p on the back of the update.
Demand holds up despite price rises
The company shipped 4 million single-board computing units in the second half alone, bringing the full-year total to 7.6 million — a 7% increase on 2024. Revenue was boosted by price increases passed through to customers following a sharp rise in DRAM memory costs.
Memory prices for roughly two-thirds of Raspberry Pi’s product range have risen approximately sevenfold over the past 12 months, driven by massive demand from cloud providers and hyperscalers. The flagship Raspberry Pi 5 with 8GB of memory now retails at around £100 ($125) through channel partners.
CEO Eben Upton said the company had been able to pass on costs through its distribution network, though acknowledged the pressure on a brand built around affordability. “It’s probably not done, so we’ll keep passing those through,” he told Reuters.
Semiconductors overtake boards for the first time
A notable milestone in the results was the semiconductor business, which shipped 8.4 million units — a 47% year-on-year increase and the first time the division has exceeded single-board computer and compute module volumes. This shift reflects Raspberry Pi’s growing role as a component supplier for commercial and industrial applications, not just the hobbyist and education markets it was founded to serve.
Looking forward
Raspberry Pi said sales momentum had continued into early 2026 but cautioned that visibility for the second half remained limited. Rising memory costs and associated pricing changes are expected to produce “substantially higher” revenues this year, with profits in line with market forecasts. For UK tech investors, it is a rare positive signal from a domestically listed hardware company in a market dominated by software and services firms.