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Shelly Group (SLYG) investor relations material
Shelly Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Nine-month 2025 revenue reached €86.98 million, up 33.8% year-over-year, with EBIT up 42.7% to €21.9 million and an EBIT margin of 25.2%, outpacing the estimated market rate of 10–15%.
Regional performance consistently outperformed the market, with all regions above market growth and 31 consecutive quarters of revenue growth.
Strategic focus on expanding from DIY to professional markets, with Pro segment share rising from 30% to 35% and installer network growing from 900 to over 3,000 members.
Product innovation pipeline includes smart locks, cameras, and connected circuit breakers, with significant launches expected in 2025 and 2026.
Acquisition of LOQED strengthens position in the smart lock segment.
Financial highlights
Revenue for the nine months was €86.98 million, up 33.8% year-over-year; EBIT grew 42.7% to €21.9 million, with a margin of 25.2%.
Net income for 9M 2025 was €18.53 million, up 34.5% year-over-year, with a net income margin of 21.3%.
Q3 EBIT margin reached 29.5%, driven by supply chain optimizations and favorable FX, with no one-off items.
Free cash flow improved, with operations generating €6.9 million more cash and cash levels at €15.7 million at September-end.
Premium app users nearly doubled year-over-year, with related revenue up 76.7%.
Outlook and guidance
2025 revenue guidance remains €145–155 million, with EBIT expected at €36–38 million and margin above 25%.
2026 targets are revenue above €200 million and EBIT above €50 million, maintaining EBIT margin above 25%.
Product launches (cameras, locks, breakers) expected to impact revenue, with cameras and locks contributing in H1 2025 and breakers in H2.
Regional expansion to continue, with new teams in Spain, UK, France, and further growth in Nordics and Poland.
Management expects continued growth in sales and inventory levels due to expanding product assortment and market demand.
Shelly Tech 24% option: future acquisition plans?
Mitigate FX impact given rising exchange rate expenses?
Reason for significant post-period credit line increase?
How will higher EBIT margins be allocated?
Smart circuit breakers: Pro market entry strategy
How effective is regional team localization?
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Next Shelly Group earnings date
Q4 202524 Feb, 2026
Next Shelly Group earnings date
Q4 202524 Feb, 2026
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Frequently asked questions
Shelly Group AD develops and manufactures smart home automation solutions, specializing in IoT-enabled devices that allow users to remotely monitor and control lighting, climate, energy usage, and security systems. Known for its product lines of wireless relays, sensors, and controllers, the company serves both residential and commercial markets, aiming to enhance convenience, energy efficiency, and connectivity in smart environments. Shelly Group’s devices are designed for easy integration with popular home automation platforms, offering compatibility and control through mobile applications. The company is headquartered in Sofia, Bulgaria, and its shares are listed on the Bulgarian Stock Exchange.
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