Bulgaria · Delayed Price · Currency is BGN · Price in EUR Shelly Group SE Earnings Call Transcripts
Fiscal Year 2025
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Revenue and EBIT grew over 40% year-over-year, outperforming the market and meeting guidance. Expansion into new regions, product innovation, and a strong installer network drove growth, with 2026 guidance reaffirmed at EUR 195–205 million revenue and 25% EBIT margin.
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Revenue and EBIT for the first nine months of 2025 grew 33.8% and 42.7% year-over-year, respectively, with a 25.2% EBIT margin and strong cash flow. Product innovation and regional expansion drive outperformance versus the market, and guidance for 2025–2026 remains unchanged.
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Revenue and EBIT exceeded targets in H1 2025, with strong growth across all regions and a rapidly expanding installer network. FX headwinds and component shortages were offset by robust product launches and channel diversification, supporting a positive outlook and reaffirmed 25% EBIT margin guidance.
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Q1 revenue grew 29% year-over-year to €26.5 million, with EBIT up 23% and a 25.2% margin. All regions outperformed the market, premium app subscriptions surged, and guidance for 2025–2026 was reaffirmed. Expansion in products, regions, and professional channels continues.
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Smart home device innovation, strong financials, and rapid growth are driven by community engagement, multi-protocol technology, and expanding software services. Market leadership in Europe is supported by scalable production, new product launches, and a robust outlook for 2026.
Fiscal Year 2024
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Revenue grew over 40% to EUR 106.7 million, with EBIT at EUR 25.7 million and strong cash position. Professional channel and Rest of Europe drove growth, with 2025 guidance set at EUR 145–155 million revenue and EUR 35–40 million EBIT.
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Revenue grew 47.2% year-over-year to €65 million, with EBIT margin at 23.6% despite one-time Q3 effects. Strong expansion in distribution and professional markets, high inventory for seasonal demand, and reaffirmed 2024 and 2026 guidance signal continued outperformance.
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The company targets €200 million revenue by 2026, driven by local market expansion, professional installer growth, and a broad, innovative product ecosystem. Stable margins, strong cash flow, and new SaaS and B2B offerings support long-term growth, with Gen 4 devices and Shelly X set to launch by 2025/2026.
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Revenue grew 49% year-over-year in H1 2024, with EBIT margin at 25.8% and net income up 58%. Strong growth was seen across all regions, especially DACH, and guidance for €105 million revenue and €26 million EBIT is reaffirmed. Premium app and smart lock integration offer new growth avenues.