Tuya Revenue Growth Accelerates to 16% as AI Developer Tools Gain Traction — BigGo Finance

Tuya Inc. (NYSE:TUYA) reported Q2 revenue of $92.9M, up 16% YoY. Platform-as-a-service revenue rose 16.9% to $67.9M. Operating cash flow fell 66.1% to $6.2M, despite GAAP profitability improvements. Gross profit increased 11.1% to $43M, with operating margin reaching 10%. The company has $976.1M in cash and investments.

Tuya reported Q2 blended gross margin of 46.3% and gross profit of $43M, up 11.1% YoY. PaaS growth was driven by home appliances and smart door locks, while lighting and IP cameras saw slower demand. Net profit was $18.6M, with operating cash flow positive at $6.2M. The company highlighted AI product expansion and launched Tuya Cobuilder, an AI developer tool. Tuya expects stable material costs in the next few quarters and sees strong demand in Europe and emerging markets.

Tuya Inc. (TUYA) furnished an SEC Form 6-K — earnings release. Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss h

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