Shelly Group Reports Strong Revenue Growth and Profit Increase in 9M 2025

Shelly Group, a Sofia-based provider of IoT and smart building solutions, reported a 33.8% increase in revenue to EUR 86.9 million for the first nine months of 2025. The group's EBIT rose by 44.7%, reaching EUR 21.9 million, and the net result saw a 34.5% rise to EUR 18.5 million. The company's EBIT margin improved to 25.2%, surpassing mid-term forecasts.

The group's strategic expansion in Europe, particularly in German-speaking regions as well as Italy and Scandinavia, drove growth. The company's user base grew, with professional installers more than tripling to over 3,000 members. The company plans further growth with new product lines like smart locks and cameras in 2026.

Shelly Group also reported a strong free cash flow improvement to EUR 3.8 million, attributing this to optimized working capital management. Guidance for 2025 was confirmed, expecting revenue between EUR 145 million and EUR 155 million. The upcoming launch of co-branded products in smart energy, due to a partnership with EcoFlow, further positions Shelly for continued expansion.