Ninth Consecutive Quarter of Year-over-Year Revenue Growth
Tuya Inc. reported a total revenue of approximately USD 82.5 million, marking the ninth consecutive quarter of year-over-year growth, despite macroeconomic uncertainties and a high comparison base from the previous year.
Strong Gross Margin and Profitability
Gross margin remained above 48%, with a non-GAAP net margin reaching 24.4% and GAAP net margin at 18.2%, expanding by more than 23.6 percentage points year-over-year.
AI Integration and Product Innovation
AI-equipped devices accounted for 93.99% of total shipments, and Tuya's AI agent service handled 135 million daily interactions. The company also launched a global beta test for a new AI agent app.
Regional Market Expansions
Tuya expanded its presence in the European, Asia Pacific, and North American markets, leveraging AI-powered solutions and partnerships with industrial clients.
Operational Efficiency and Cash Flow
Total operating expenses declined by 34.1% year-over-year, and the operating net cash flow grew by 25.7% to USD 30 million.