Raspberry Pi Holdings plc (RPBPF) Q2 2026 Earnings Call Transcript

Raspberry Pi Holdings plc (RPBPF) Q2 2026 Earnings Call September 24, 2026 9:00 AM EDT

Eben Upton - Founder, CEO & Director

Richard Boult - CFO, Secretary & Director

Good afternoon, and welcome to the Raspberry Pi Holdings plc Interim Results 2026 Investor Presentation.

Good afternoon, and welcome, everybody. Welcome to our 2026 interim results. I'm Eben, joined today by my colleague, Richard. We're going to take you through the first half financial results for the business, give you some updates on progress against our strategy. But I think first, perhaps we could just take a quick look at some of the highlights of the half. I mean, quite simply, this was an exceptional first half for us. So record revenue, record profitability in the business. We shipped over 4 million units. We shipped 4.2 million Raspberry Pis in the half with our customer order backlog doubling to 2.6 million units. And all of this happened despite an incredibly challenging supply chain environment. Our diversified DRAM supplier base helped us weather the worst of that, helped us keep our products in production and in availability through the half. Despite these challenges, we kept innovating. The half saw 5 new product and platform launches, improving support for AI workloads on Raspberry Pi 5, helping our OEM users through the memory crisis by giving them more memory density options on Raspberry Pi 4 and streamlining IoT deployments through improvements to our Raspberry Pi Connect platform. We kept investing in our OEM customers, too, making targeted hires into our commercial team and our board-to-board program continued to deliver traction in the smart home and