Raspberry Pi Holdings Plc experienced a sharp rise in its share price on Friday after the Cambridge-based hardware company signalled that profitability for the first half of its financial year would be "materially ahead" of 2025 and raised its full-year outlook.
Shares opened at 906p and climbed to an intraday high of 963.50p on volume of 332,600 shares. The stock has gained roughly 42% since mid-May 2026, when it traded near 673p, and is now trading at levels more than double its 2024 trading range of around 400p.
Operational drivers cited by the company
In a regulatory filing, Raspberry Pi said units for the six months ending June 30 are expected to exceed 4 million. The filing attributed expected Adjusted EBIT improvement to "continued growth in unit volumes, a favourable product mix, and the ongoing utilisation of low-density DRAM inventory accumulated throughout FY 2025."
The company added that the strong first-half performance will result in FY 2026 EBIT coming in ahead of the consensus market expectation of $42 million, based on published analyst forecasts as of June 4. In its filing the company stated: "The strong profitability delivered in the first half is expected to result in FY 2026 EBIT materially ahead of market expectations."
Temporary margin tailwinds and second-half headwinds
Management cautioned that the inventory benefit underpinning first-half margins is temporary. The filing warned that "Unit economics are expected to moderate in H2 as inventory of memory procured at a lower cost in earlier periods is depleted," and noted that DRAM-related price increases and macroeconomic uncertainty remain headwinds in the second half.
On its memory supply position, the company said it "continues to benefit from its existing memory vendor relationships" and plans to pursue "strategic purchases of memory inventory" using its credit facilities through FY 2026. At the same time, the filing acknowledged that "the pricing and availability of DRAM" remain challenging.
Market reaction
The stock spike followed the filing that upgraded guidance for the year, reflecting investor appetite for confirmation that stronger unit sales and favourable product mix can translate into improved profitability. Volume on the day of the move reached 332,600 shares as the stock climbed above recent trading ranges.
What the company has said in its own words
"The strong profitability delivered in the first half is expected to result in FY 2026 EBIT materially ahead of market expectations."
And on inventory and supply: "continues to benefit from its existing memory vendor relationships"; the company will make "strategic purchases of memory inventory" through its credit facilities through FY 2026, while recognising that "the pricing and availability of DRAM" remain challenging.