Raspberry Pi Holdings plc reported record first-half 2026 results, with revenue climbing 90% year-over-year to $256.9 million and adjusted EBITDA rising to $40.3 million—more than double the $19.4 million recorded in the same period last year. Adjusted operating profit also nearly doubled to $35.2 million, while basic earnings per share increased to 13.9 cents from 4.8 cents in H1 2025. The company’s share price rose more than 16% to $733.50, marking an 110% year-to-date gain, though the source notes a closing price of 631.50 GBP on September 23, 2026.
Shipments of core Raspberry Pi boards totaled 4.2 million units in H1 2026, up 17% from 3.6 million in H1 2025, while semiconductor shipments reached 4.0 million. Backlogs expanded to 2.6 million units—more than quadrupling from 600,000 at the end of H1 2025—reflecting strong demand across industrial, consumer, and edge computing applications. Industrial end markets now account for 75% of estimated demand, up from 70% in fiscal 2024.
The company’s expansion into edge AI and specialized computing accelerated with product launches in 2026, including the Raspberry Pi AI HAT+ 2 (January 15), a 3GB variant of the Raspberry Pi 4 (January 28), and the Compute Module 5 Programming Jig (April 1). These developments align with a broader trend in the microcontroller market, valued at $40 billion, where Raspberry Pi aims to capture over 1% share. Direct sales grew 26% year-over-year, while Compute Module products saw a 57% increase, underscoring a shift toward higher-margin, customizable solutions.
Supply chain pressures persisted, with the company expanding its memory supplier base from two to seven partners over 18 months to mitigate a global DRAM shortage that saw prices surge up to 90% from Q4 2025. Inventory levels rose to $262.7 million, up from $145.3 million at year-end 2025, while component inventory surged by $105.9 million. Despite a net cash decline to $18.4 million, the company increased its bank facility to $140 million in July 2026, up from $80 million.
Management highlighted a
