Tuya Reports First Quarter 2024 Unaudited Financial Results
Tuya Inc. American Depositary Shares, each representing one Class A Ordinary Share (TUYA)
Company Research
Source: PR Newswire
SANTA CLARA, Calif., May, 20, 2024 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, today announced its unaudited financial results for the first quarter ended March 31, 2024.First Quarter 2024 Financial HighlightsTotal revenue was US61.7 million, up approximately 29.9% year over year (1Q2023: US$47.5 million).IoT platform-as-a-service ("PaaS") revenue was US$45.6 million, up approximately 35.7% year over year (1Q2023: US$33.6 million).Software-as-a-service ("SaaS") and others revenue was US$8.6 million, up approximately 1.8% year over year (1Q2023: US$8.5 million).Smart solution revenue was US$7.5 million, up approximately 37.3% year over year (1Q2023: US$5.4 million).Overall gross margin increased to 47.8%, up 3.5 percentage points year over year (1Q2023: 44.3%). Gross margin of IoT PaaS increased to 46.4%, up 5.9 percentage points year over year (1Q2023: 40.5%).Operating margin was negative 26.5%, improv
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TUYA
Earnings
- 5/20/24 - Beat
TUYA
Sec Filings
- 6/6/24 - Form 6-K
- 5/21/24 - Form 6-K
- 5/20/24 - Form 6-K
- TUYA's page on the SEC website