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Shelly Group SE
Earnings Release • Aug 8, 2023
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Earnings Release
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News Details
Corporate | 8 August 2023 07:30
Shelly Group PLC taps recurring revenue potential with premium subscription feature for Shelly Smart Control app
EQS-News: Shelly Group PLC / Key word(s): Product Launch
Shelly Group PLC taps recurring revenue potential with premium subscription feature for Shelly Smart Control app
08.08.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
**Shelly Group PLC taps recurring revenue potential with premium subscription feature for Shelly Smart Control app
Sofia / Munich, 8 August 2023 –** Shelly Group PLC ( Ticker: SLYG / ISIN: BG1100003166 ) (“Shelly Group” / “the Company”), previously Allterco JSCo, is now offering a premium subscription to its exceptionally high-growth Shelly app. The ability to subscribe to premium features provides Shelly with sustainable recurring revenue potential. In the long term, the introduction of paid premium functions serves to continually offer customers new, beneficial services and to expand the app with functions requested by customers.
With currently approx. one million cloud users and double-digit percentage growth of new users, the Shelly Group expects the use of premium functions to grow rapidly. The first notable revenue and earnings contributions are expected from 2024, with substantial dimensions from 2025. After a three-month free trial period, the subscription price is EUR 3.99 per month or EUR 35.99 for annual payment.
Dimitar Dimitrov, Co-CEO of Shelly Group: “I’m really proud of our new Shelly Smart Control app and would like to thank my development team for all their hard work – they managed to not only implement but also push forward even my most challenging ideas. We are all passionate about constantly improving Shelly’s products and solutions. In doing so, our application in the combination of hardware and software is central to our unique selling point in the competitive market: customer benefit. The Shelly Smart Control App is thus of particular importance for customer loyalty.”
Wolfgang Kirsch, Co-CEO of Shelly Group, adds: “We are very excited to introduce the Premium subscription with many new features for paying users with the new version of our popular Shelly Smart Control App as planned. Given the benefits to the smart home experience and energy savings, we are confident that the increasing number of users of the standard version of our app will also translate into significant growth in recurring revenue from the premium features. As a result, the Shelly Smart Control app is contributing to leverage operating results.”
The Shelly Smart Control Premium subscription significantly expands the app’s existing application capabilities with exclusive innovative features, thereby elevating the smart home experience to a new level. In addition to the possibility of a more detailed device log, which allows the user to be aware of all the events of a device, the number of customizable dashboards and virtual actions via Alexa is also significantly increased. In addition, the overview of energy consumption becomes even more precise thanks to minute-by-minute metering. Other new functions take weather information into account and thus offer the possibility of creating scenes based on it. For example, the awning can be automatically extended when the sun is shining and retracted again when it is cloudy. The basic functions of the Shelly Smart Control app can still be used free of charge.
Shelly Smart Control is available on Google Play, Apple App Store, and Huawei AppGallery.
About Shelly Group
Shelly Group PLC is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Shelly Group was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, China, USA and Germany. Shelly Group’s products have already conquered over 100 markets. Shelly Group PLC has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker SLYG.
Contact Investor Relations
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Sven Pauly
Phone: +49 89 125 09 0331
Mail: [email protected]
08.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Shelly Group PLC |
| 103 Cherny Vrah Bldv | |
| 1407 Sofia | |
| Bulgaria | |
| E-mail: | [email protected] |
| Internet: | www.allterco.com |
| ISIN: | BG1100003166 |
| WKN: | A2DGX9 |
| Listed: | Regulated Market in Frankfurt (Prime Standard) |
| EQS News ID: | 1697795 |
| End of News | EQS News Service |