October 6 (SeeNews) - Bulgarian IoT products maker Shelly Group [BUL:SLYG] said on Friday that it has exceeded the 10 million mark in sales of its flagship Shelly smart home product for the first time since the product's launch in 2018.
The number of Shelly smart devices has thus grown by some 2.5 million since the end of 2022, the group said in a stock exchange filing.
The company has also seen a 63% jump in Shelly mobile application users to 1.1 million over the same period.
For the first half of 2023, Shelly Group reported a surge of over 53% in its preliminary consolidated revenue from sales of IoT devices to 54.8 million levs ($29.6 million/28 million euro), according to a recent interim financial statement. The company expects full-year sales of IoT devices to grow by over half to 72 million euro ($76 million) in 2023.
Shares in Shelly Group were trading flat at 41.90 levs on the Sofia bourse as at 1338 CEST. The company has a current market capitalisation of 756.3 million levs.
(1 euro = 1.95583 levs)