SOFIA (Bulgaria), April 9 (SeeNews) – Bulgarian IoT products maker Shelly Group [BUL:SLYG; ETR:SLYG] said on Wednesday that its consolidated revenue from device sales and related services increased by 29% on the year to 26.5 million euro ($29 million) in the first quarter of 2025.
The company outpaced its 25% revenue growth rate projection for January–March, Shelly said in a bourse filing, citing preliminary data.
Although the company’s sales in the U.S. are rising, Shelly expects ongoing tariff issues to have an insignificant impact due to the market’s low share in overall revenue.
Shelly will publish its unaudited consolidated financial results for the first quarter on May 14, it said.
As of 1539 CEST on Wednesday, shares in Shelly Group traded 3.58% lower at 32.30 euro on the Bulgarian Stock Exchange.
($ = 0.9132 euro)