diff --git a/subsys/debug/tracing/cpu_stats.c b/subsys/debug/tracing/cpu_stats.c
index 4a73c776288..1bdd7c9cd59 100644
--- a/subsys/debug/tracing/cpu_stats.c
+++ b/subsys/debug/tracing/cpu_stats.c
@@ -123,7 +123,7 @@ void sys_trace_thread_switched_out(void)
 	int key = irq_lock();
 
 	__ASSERT_NO_MSG(nested_interrupts == 0);
-	__ASSERT_NO_MSG(current_thread == k_current_get());
+	__ASSERT_NO_MSG(!current_thread || (current_thread == k_current_get()));
 
 	cpu_stats_update_counters();
 	last_cpu_state = CPU_STATE_SCHEDULER;