Shares of the low-cost single-board computer maker Raspberry Pi Holdings (RPI) surged dramatically following an improved profit forecast. The company announced robust first-half performance and projected full-year results to significantly surpass market consensus, sending its stock up 19.5% in early European trading to £9.85. The stock has more than tripled in value year-to-date.

The company disclosed on Friday that for the first half ending June 30, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to be no less than $38 million. Product shipments for the period exceeded 4 million units.

Analysts noted that the profit beat was driven by a combination of higher average selling prices, strong end-market demand, and the realization of benefits from previously procured low-cost DRAM inventory.

Based on this performance, the company's full-year results are projected to be substantially higher than previous analyst forecasts.

Raspberry Pi stated that the strong first-half profitability will lead to full-year 2026 adjusted EBITDA being significantly above market expectations. As of June 4, the consensus estimate among market institutions for full-year adjusted EBITDA stood at $42 million.

The company also cautioned that as the previously stockpiled low-cost memory inventory is gradually consumed, product shipment growth in the second half may normalize to more typical levels. Despite ongoing macroeconomic uncertainties and continued pressure on the supply and pricing of DRAM and flash memory chips, the company expressed confidence in securing sufficient component inventory to achieve its full-year 2026 production targets.