Raspberry Pi Holdings PLC (LSE:RPI) shares rose 24% to 363p after the group reported profits ahead of expectations and strong demand across its markets continuing into this year, despite price rises.
The maker of low-cost single-board computers and semiconductor products said adjusted EBITDA rose 25% to $46.4 million for the 2025 calendar year, on revenue increased 25% to $323.2 million
Unit shipments rose 9% to 7.6 million, with stronger demand in the second half of the year.
Profit before tax climbed 63% to $26.5 million, while adjusted earnings per share increased 35% to 14.48 cents.
The group said demand strengthened across both OEM customers and resellers, with particularly strong growth in the US and China. Semiconductor unit volumes exceeded boards and modules for the first time, with 8.4 million units sold.
Gross margin was broadly stable at 24.1%, as the company managed higher DRAM memory costs by diversifying suppliers and making pricing adjustments.
Looking ahead, Raspberry Pi said strong momentum has continued into the opening months of 2026, though visibility remains limited by ongoing supply constraints in memory markets.
Chief executive Eben Upton said 2025 "was a year of strong execution" and noted that an "important milestone" was passed as semiconductor shipments exceeded those of boards and modules for the first time, which he said reflected progress towards a two-franchise business.
He said: "We have entered FY 2026 with strong momentum, underpinned by growing demand and continued progress in direct customer engagements.
"Combined with strategic hiring, rapid uptake of new products, and a channel whose capabilities are well aligned with the opportunities ahead, I am more confident than ever in our long-term growth trajectory."