Raspberry Pi Holdings plc (RPI) Earnings Call Transcripts

Raspberry Pi Holdings plc's Latest Earnings Call - March 31, 2026

In the fiscal year 2025, Raspberry Pi Holdings plc reported a significant increase in revenue and profitability, driven by robust demand for its products, particularly in the semiconductor segment. Revenue rose 25% year-on-year to $192 million, with EBITDA also increasing by 25% to $46.4 million. Management signaled strong momentum heading into 2026, with expectations for continued growth in unit sales and revenue, despite challenges posed by rising memory costs. The company anticipates a substantial increase in revenue for 2026, although gross profit per unit may decline due to higher input costs.

Reported metrics

Guidance from management

Management expects substantial revenue growth for 2026, driven by increased ASPs and unit sales, although they anticipate a decline in gross profit per unit due to rising memory costs.

What management said

But I think taken in conjunction with, I think, an increase in boards, which we look forward to for '26, we do have higher prices. So I think the revenue line in our accounts will increase substantially on that basis. But the thing I think that we just want to stress to you, we do focus on profit per unit. Therefore, the gross profit will not rise in the same way. And there probably as a margin percentage, there wi...

Essentially, all of our numbers down to gross profit are all in dollars. We take some -- we sell some products to customers in euros, but that price is actually pegged to the dollar and sort of reevaluated certainly quarterly and more often if the price moves. We have overheads in sterling. We do hedge those out into the reported dollar number using essentially forward contracts. We keep it as simple as possible just...

What analysts pressed on

Analysts expressed concerns regarding the impact of rising memory prices on demand elasticity and gross margins. There were also questions about the company's ability to maintain supply chain stability amidst these challenges.

Main topics on the call

• Strong Revenue and EBITDA Growth — Raspberry Pi achieved a 25% increase in both revenue and EBITDA, reaching $192 million and $46.4 million, respectively. Management noted, "2025 was an absolutely standout year for us," highlighting strong demand across k...
• Semiconductor Sales Surpass Board Sales — For the first time, Raspberry Pi sold more semiconductors than boards, with chip sales increasing by 47% year-on-year to 8.4 million units. This milestone was described as a significant crossover for the business.
• Challenges from Rising Memory Prices — Management acknowledged that rising memory costs are a concern, stating, "We expect high elevated DRAM prices to continue into 2026 and probably into '27 as well." This could impact gross profit per unit despite anticipa...
• Product Launch Success — Raspberry Pi launched several new products, including the Raspberry Pi 500+ and AI HAT+2, which management believes will enhance their market position. They emphasized the importance of listening to customer needs in pro...

Read the full Raspberry Pi Holdings plc transcript (March 31, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 5 Raspberry Pi Holdings plc earnings call transcripts on record, spanning September 24, 2024 to March 31, 2026. Based on this history, Raspberry Pi Holdings plc reports semi-annually. The most recent call on file is dated March 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

RPI

Exchange

LSE

Country

GB

Sector

Information Technology

Industry

Technology Hardware, Storage and Peripherals

Calls on record

5

First call

September 24, 2024

Most recent

March 31, 2026

Reporting cadence

semi-annually