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The latest update is out from Tuya, Inc. Class A ( (HK:2391) ).
Tuya Inc. reported preliminary unaudited 2025 results showing total revenue rising 7.8% to US$321.8 million, driven by growth across PaaS, SaaS and smart solutions, while overall gross margin improved to 48.2%. The company’s operating margin turned positive at 3.6%, net profit surged to US$57.9 million, non-GAAP profitability remained strong, and it maintained over US$1.0 billion in cash and investments, highlighting improved efficiency and a solid balance sheet alongside a cash dividend declaration.
PaaS and total customer numbers were broadly stable, but premium PaaS customers contributed a larger share of PaaS revenue, underscoring the success of Tuya’s key-account strategy despite a lower dollar-based net expansion rate of 102%. The company also expanded its developer ecosystem significantly, with registered AI developers growing 37% to more than 1.8 million, reinforcing its platform’s reach and potential for future ecosystem-driven growth.
The most recent analyst rating on (HK:2391) stock is a Buy with a HK$28.00 price target. To see the full list of analyst forecasts on Tuya, Inc. Class A stock, see the HK:2391 Stock Forecast page.
More about Tuya, Inc. Class A
Tuya Inc. is a Cayman Islands–incorporated company that operates as a global AI cloud platform service provider, listed in Hong Kong and on the NYSE. The company focuses on platform-as-a-service, software-as-a-service and smart solutions that enable smart devices and AI-powered applications for a worldwide customer base, including strategic key accounts.
Average Trading Volume: 39,689
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$11.64B
For a thorough assessment of 2391 stock, go to TipRanks’ Stock Analysis page.