Shelly Group (SLYG) Planet MicroCap Showcase: VEGAS 2025 summary

Product innovation and technology

• Offers smart home devices for energy management, lighting, security, and access control, with a focus on retrofit solutions and plug-and-play devices.

• Devices are affordable, easy to install, and compatible with multiple standards (Wi-Fi, Bluetooth, Matter, Zigbee).

• Community-driven product development and quality control accelerate innovation and ensure high user engagement.

• Generation four devices feature multi-protocol support and are already available, increasing the competitive gap.

• New LoRa add-on extends device range for industrial and agricultural use cases.

Financial performance and growth

• Achieved €107 million revenue and €26 million EBIT in the last year, with a 24.2% EBIT margin and 81% equity ratio.

• Maintains strong cash position and consistent 40-50% annual growth in revenue and EBIT.

• Q1 preliminary revenue at €26.5 million, up nearly 30%, with full-year growth targeted at 42%.

• Working capital increased due to distributor demands and product generation changes, with optimization projects underway.

• Guidance for 2026 remains at €200 million+ revenue and €50 million EBIT, supported by positive market trends.

Market strategy and expansion

• Main market is Europe, especially the DACH region, with growing presence in other European countries and Asia.

• U.S. market remains small but is targeted with tailor-made products and gradual B2B expansion.

• Establishing local teams in key countries to boost sales and partnerships with retailers and installers.

• Network effects drive device adoption, with users adding more devices over time.

• Shifting focus from DIY to professional installer market, which is expected to fuel further growth.