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An update from Tuya ( (TUYA) ) is now available.
Tuya reported unaudited results for the quarter ended March 31, 2026, on May 11, 2026, with total revenue rising 8.3% year over year to US$80.9 million, driven by 9.8% growth in PaaS revenue and 16.9% growth in AI application and other revenues, while smart home and robot product revenue declined 6.9%. Overall gross margin dipped to 46.9% amid semiconductor price fluctuations and product mix shifts, but operating margin improved to 9.2%, net margin expanded to 19.5%, and net profit climbed to US$15.8 million, reflecting stronger operating leverage, a resilient core platform business and a cash-rich balance sheet that supports continued AI investment and global expansion.
Tuya also disclosed to the Hong Kong Stock Exchange on May 11, 2026 that its issued share capital and/or share buybacks had changed, in line with regulatory reporting requirements. The company continued to grow its base of premium PaaS customers to 306 and registered AI developers to more than 1.97 million, underscoring its strategy to integrate AI deeply into its software offerings, rebrand SaaS to AI application and smart solutions to smart home and robot products, and position itself for long-term growth in AI-native consumer and physical AI applications despite tariff-related and regional disruptions.
The most recent analyst rating on (TUYA) stock is a Buy with a $3.50 price target. To see the full list of analyst forecasts on Tuya stock, see the TUYA Stock Forecast page.
Spark’s Take on TUYA Stock
According to Spark, TipRanks’ AI Analyst, TUYA is a Outperform.
TUYA scores well primarily on improved fundamentals and balance-sheet strength alongside sustained positive free cash flow, with supportive earnings-call momentum around AI strategy and recurring revenue growth. Valuation is helped by a strong dividend yield, while the main offset is only middling technical momentum and the need to see more durable core operating profitability.
To see Spark’s full report on TUYA stock, click here.
More about Tuya
Tuya Inc. is a China-based, globally focused AI cloud platform service provider listed in New York and Hong Kong, supplying platform-as-a-service, AI application services and smart home and robotics products. The company targets developers and manufacturers of AI-enabled consumer electronics and IoT devices, emphasizing subscription-based AI solutions and large-scale model-driven services.
Average Trading Volume: 1,670,202
Technical Sentiment Signal: Buy
Current Market Cap: $1.42B
For a thorough assessment of TUYA stock, go to TipRanks’ Stock Analysis page.