diff --git a/include/zephyr/rtio/rtio.h b/include/zephyr/rtio/rtio.h
index fade8e5eec19f..092f13f002d42 100644
--- a/include/zephyr/rtio/rtio.h
+++ b/include/zephyr/rtio/rtio.h
@@ -1309,6 +1309,9 @@ static inline void rtio_cqe_submit(struct rtio *r, int result, void *userdata, u
 		cqe->userdata = userdata;
 		cqe->flags = flags;
 		rtio_cqe_produce(r, cqe);
+#ifdef CONFIG_RTIO_CONSUME_SEM
+		k_sem_give(r->consume_sem);
+#endif
 	}
 
 	/* atomic_t isn't guaranteed to wrap correctly as it could be signed, so
@@ -1329,9 +1332,6 @@ static inline void rtio_cqe_submit(struct rtio *r, int result, void *userdata, u
 		}
 	}
 #endif
-#ifdef CONFIG_RTIO_CONSUME_SEM
-	k_sem_give(r->consume_sem);
-#endif
 }
 
 #define __RTIO_MEMPOOL_GET_NUM_BLKS(num_bytes, blk_size) (((num_bytes) + (blk_size)-1) / (blk_size))