Strong results across key markets, growing user base, and confirmed financial targets for 2025
Shelly Group reported a 28.9% year-over-year increase in revenue for the first quarter of 2025, reaching EUR 26.5 million, supported by strong demand across all regions and continued expansion of its smart home and energy management portfolio.
Strong Financial Performance and Solid Margins
Earnings before interest and taxes (EBIT) rose to EUR 6.7 million (+23% YoY), with an EBIT margin of 25.2%, exceeding the company’s mid-term targets. Net profit climbed to EUR 5.6 million, while operating cash flow increased to EUR 4.1 million. Cash and cash equivalents reached EUR 16.7 million.
CEO Confirms Ambitious Outlook
“We’re seeing growth across all regions, demand remains high, and our diversified portfolio strategy is paying off.” said Wolfgang Kirsch, CEO of Shelly Group. “We remain confident in our ability to outperform the market and reaffirm our 2025 targets and growth plans toward 2026.”
Innovation and Customer Growth
“Customer interest in our premium features confirms that intelligent, value-driven automation is the future,” said Dimitar Dimitrov, CTO and co-founder of Shelly Group. “We have new launches planned throughout the year to strengthen our portfolio.”
Market Expansion and User Growth
The DACH region led with 19.1% YoY growth, followed by strong results in Italy, the Nordics, and other European markets (+41%). The Shelly Smart Control App surpassed 2 million active users, with over 9 million devices sold in the last 12 months, bringing total cumulative sales to 23 million.
