Shelly Group Reports Strong First Quarter Growth in 2026

Shelly Group SE, a leader in IoT and smart building solutions, reported significant growth in the first quarter of 2026. The company achieved a 25.9% increase in revenue, amounting to EUR 33.3 million. The EBIT rose by 30.4% to EUR 8.6 million, with an enhanced EBIT margin of 25.9%. Net profits climbed by 33.5% to EUR 7.5 million. Despite growth-related investments, free cash flow soared by 77.5% to reach EUR 6.4 million.

Strategic expansion contributed to these outcomes. The Shelly Cloud user base grew to 2.9 million, and the installer network increased by 1,400 members to total 6,700. Additionally, new products like the Shelly Plug M and BLU Presence Sensor hit the market, with several others slated for release in 2026. With an anticipated revenue of up to EUR 205 million and EBIT potentially reaching EUR 52 million, Shelly Group remains optimistic about the year's growth trajectory.