UK’s Raspberry Pi posts record first half on strong industrial demand

Sept 24 (Reuters) – Britain’s Raspberry Pi reported record first-half revenue and core profit growth on Thursday and maintained an upbeat annual outlook, as strong pricing and industrial demand helped it weather soaring memory-chip costs. 

Shares in the Cambridge-based maker of single-board computers rose 15% in early trade, their biggest one-day gain since June 5.

Here are some details:

• Adjusted core profit more than doubled to $40.3 million in the six months to June 30, and revenue jumped 90% to $256.9 million

• Performance was driven by robust demand from its industrial and original equipment manufacturer customer base, which uses its credit-card-sized computers in everything from factory automation and robotics to medical devices

• Unit volumes are expected to be higher in the second half, thanks to strong demand

• It said it has sufficient memory inventory to meet its FY2026 production goals, while making strategic purchases for 2027

• Raspberry Pi reaffirmed its full-year profit outlook

• It reiterated that its per-unit profitability will “moderate” as its stockpile of cheaper memory chips, secured in 2025, runs down.

• CEO Eben Upton said Raspberry Pi was broadening its supplier base and adding production capacity with Sony to navigate memory shortages.

(Reporting by Amna Mariyam in Bengaluru; Editing by Rashmi Aich)