Quarterly ResultMay 11, 2026, 05:22 PM
Tuya Q1 Revenue $80.9M, up 8.3%; Net Profit $15.8M
AI Summary
Tuya Inc. reported solid first-quarter 2026 financial results, with total revenue increasing 8.3% year-over-year to $80.9 million. The company achieved significant improvements in profitability, turning an operating loss into a profit of $7.5 million and increasing net profit by 43.6% to $15.8 million. This performance was driven by strong growth in PaaS and AI application & others revenue, alongside disciplined cost management and a strategic focus on AI-driven development.
Key Highlights
- Total revenue increased 8.3% year-over-year to $80.9 million.
- PaaS revenue grew 9.8% to $59.0 million.
- AI application & others revenue rose 16.9% to $11.6 million.
- Net profit surged 43.6% to $15.8 million.
- Operating margin improved to 9.2% from negative 1.9% year-over-year.
- Gross margin was 46.9%, a decrease of 1.6 percentage points.
- Premium PaaS customers increased to 306 for the trailing 12 months.
- Cash and liquid investments totaled $1,017.1 million as of March 31, 2026.