Hong Kong · Delayed Price · Currency is HKD Tuya Inc. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 8.3% revenue growth, margin improvements, and strong AI-driven expansion, with robust PaaS and AI application segment gains. Strategic focus remains on physical AI, global energy solutions, and developer ecosystem growth.
Fiscal Year 2025
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Revenue grew 7.8% year-over-year to $322M in 2025, with record non-GAAP net income and strong cash flow. AI-driven products and recurring SaaS revenues accelerated, while robust cash reserves support ongoing investment and shareholder returns.
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Q3 2025 saw revenue of $82.5M and gross margin above 48%, with strong AI adoption and improved profitability. Despite macro uncertainties, management expects long-term growth as AI becomes standard in smart devices.
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Q2 2025 revenue grew 9.3% year-over-year to $80.1 million, with strong gross margins and profitability despite global trade and tariff headwinds. AI adoption accelerated, with over 93% of shipped products AI-enabled and robust developer ecosystem growth.
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Q1 2025 saw 21% revenue growth and record net profit, driven by strong PaaS and AI expansion, with gross margin at 48.5%. Despite tariff-related uncertainty, management expects stable margins and continued AI-driven growth.
Fiscal Year 2024
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2024 saw nearly 30% revenue growth, first-ever annual GAAP net profit, and strong cash flow. AI and hardware-software integration drove segment growth, with global expansion and recurring SaaS revenue as future priorities.
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Q3 2024 saw 34% year-over-year revenue growth, strong margins, and robust performance across all segments. Global expansion continued, with a 124% net expansion rate and new strategic investors. Outlook remains positive, with ongoing investment in AI and SaaS verticals.
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Q2 2024 saw 28.6% revenue growth and the first non-GAAP operational profit with a 10% margin, driven by strong IoT and Smart Solution segments. A $33 million special dividend was declared, and GenAI product monetization is set to begin next year.