Raspberry Pi more than doubles core profit as revenue rises 90%

Raspberry Pi ($RPI) reported first-half revenue of $256.9 million, up 90%, and adjusted EBITDA of $40.3 million, up 108%. Pre-tax profit reached $19.6 million. Board shipments increased 17% to 4.2 million, showing that the much faster revenue growth also reflected pricing and product economics, rather than a comparable surge in physical unit sales.

Management said strategic memory purchases helped maintain supply while customers faced component shortages. The order backlog reached 2.6 million units, and the company expects higher unit volumes in the second half. It reaffirmed its annual profit outlook but warned that per-unit profitability would moderate as cheaper memory inventory is consumed. The results therefore combine strong demand with a temporary inventory-cost benefit that should not be assumed to persist indefinitely.

Sources:

• Raspberry Pi — interim results, RNS
• Reuters / AOL — results and outlook, timestamped report