Tuya Inc Financials

TUYA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

Financial Health Signals

Financial Profile 67/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Tuya Inc has an operating margin of -16.0%, meaning the company retains $-16 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -46.0% the prior year.

Growth

100

Tuya Inc's revenue surged 29.8% year-over-year to $298.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Tuya Inc carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.57, Tuya Inc holds $9.57 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

100

Tuya Inc converts 25.5% of revenue into free cash flow ($76.2M). This strong cash generation earns a score of 100/100.

Returns

Tuya Inc generates a 0.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 2/100.

Piotroski F-Score Neutral

6/9

Tuya Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

16.08x

For every $1 of reported earnings, Tuya Inc generates $16.08 in operating cash flow ($80.4M OCF vs $5.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Tuya Inc (TUYA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$298.6M

YoY+29.8%

5Y CAGR+23.1%

Tuya Inc generated $298.6M in revenue in fiscal year 2024. This represents an increase of 29.8% from the prior year.

EBITDA

-$46.0M

YoY+55.5%

Tuya Inc's EBITDA was -$46.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 55.5% from the prior year.

Free Cash Flow

$76.2M

YoY+118.0%

Tuya Inc generated $76.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 118.0% from the prior year.

Net Income

$5.0M

YoY+108.3%

Tuya Inc reported $5.0M in net income in fiscal year 2024. This represents an increase of 108.3% from the prior year.

EPS (Diluted)

$0.01

YoY+109.1%

Tuya Inc earned $0.01 per diluted share (EPS) in fiscal year 2024. This represents an increase of 109.1% from the prior year.

Cash & Debt

$653.3M

YoY+31.0%

5Y CAGR+25.1%

Tuya Inc held $653.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

Tuya Inc had 0 shares outstanding in fiscal year 2024.

Gross Margin

47.4%

YoY+1.0pp

5Y CAGR+21.1pp

Tuya Inc's gross margin was 47.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the prior year.

Operating Margin

-16.0%

YoY+30.1pp

5Y CAGR+53.5pp

Tuya Inc's operating margin was -16.0% in fiscal year 2024, reflecting core business profitability. This is up 30.1 percentage points from the prior year.

Net Margin

1.7%

YoY+27.9pp

5Y CAGR+68.3pp

Tuya Inc's net profit margin was 1.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 27.9 percentage points from the prior year.

Return on Equity

0.5%

Tuya Inc's ROE was 0.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

$95.0M

YoY-7.1%

5Y CAGR+12.8%

Tuya Inc invested $95.0M in research and development in fiscal year 2024. This represents a decrease of 7.1% from the prior year.

Share Buybacks

$70K

YoY-97.9%

Tuya Inc spent $70K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 97.9% from the prior year.

Capital Expenditures

$4.2M

YoY+179.1%

5Y CAGR+11.0%

Tuya Inc invested $4.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 179.1% from the prior year.

TUYA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$298.6M+29.8%	$230.0M+10.5%	$208.2M-31.1%	$302.1M+67.9%	$179.9M+70.0%	$105.8M
Cost of Revenue	$157.2M+27.4%	$123.3M+3.9%	$118.7M-31.8%	$174.2M+47.7%	$117.9M+51.2%	$78.0M
Gross Profit	$141.4M+32.6%	$106.7M+19.3%	$89.4M-30.1%	$127.9M+106.4%	$61.9M+122.9%	$27.8M
R&D Expenses	$95.0M-7.1%	$102.3M-29.4%	$144.9M-16.8%	$174.3M+125.1%	$77.4M+48.9%	$52.0M
SG&A Expenses	$68.3M-15.4%	$80.7M+19.5%	$67.5M-5.7%	$71.6M+300.7%	$17.9M+46.5%	$12.2M
Operating Income	-$47.6M+55.0%	-$105.8M+37.1%	-$168.2M+8.4%	-$183.6M-162.8%	-$69.8M+4.9%	-$73.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2.1M-34.0%	$3.2M+72.8%	$1.9M+283.7%	$490K+137.9%	$206K+66.1%	$124K
Net Income	$5.0M+108.3%	-$60.3M+58.7%	-$146.2M+16.7%	-$175.4M-162.2%	-$66.9M+5.1%	-$70.5M
EPS (Diluted)	$0.01+109.1%	$-0.11+57.7%	$-0.26+27.8%	$-0.36-20.0%	$-0.30+9.1%	$-0.33

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A

TUYA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.1B+3.5%	$1.1B+1.0%	$1.1B-15.4%	$1.2B+366.9%	$267.3M	N/A
Current Assets	$903.0M+6.5%	$847.8M-17.2%	$1.0B-14.1%	$1.2B+380.3%	$248.0M	N/A
Cash & Equivalents	$653.3M+31.0%	$498.7M+274.5%	$133.2M-86.2%	$963.9M+507.0%	$158.8M-25.5%	$213.3M
Inventory	$23.8M-27.5%	$32.9M-27.6%	$45.4M-27.5%	$62.6M+48.1%	$42.3M	N/A
Accounts Receivable	$7.6M-17.6%	$9.2M-24.3%	$12.2M-62.8%	$32.7M+165.5%	$12.3M	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$96.3M+0.5%	$95.8M+2.0%	$94.0M-30.1%	$134.5M-68.9%	$432.0M	N/A
Current Liabilities	$94.3M+7.8%	$87.5M+7.7%	$81.3M-25.5%	$109.1M+18.7%	$91.9M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.0B+3.8%	$970.6M+0.9%	$962.2M-13.6%	$1.1B+776.3%	-$164.7M-49.6%	-$110.1M
Retained Earnings	-$569.9M+0.9%	-$574.8M-11.8%	-$514.1M-39.7%	-$367.9M-91.1%	-$192.5M	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Total Assets	$1.1B+3.5%	$1.1B+1.0%	$1.1B-15.4%	$1.2B+366.9%	$267.3M
Current Assets	$903.0M+6.5%	$847.8M-17.2%	$1.0B-14.1%	$1.2B+380.3%	$248.0M
Cash & Equivalents	$653.3M+31.0%	$498.7M+274.5%	$133.2M-86.2%	$963.9M+507.0%	$158.8M
Inventory	$23.8M-27.5%	$32.9M-27.6%	$45.4M-27.5%	$62.6M+48.1%	$42.3M
Accounts Receivable	$7.6M-17.6%	$9.2M-24.3%	$12.2M-62.8%	$32.7M+165.5%	$12.3M
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$96.3M+0.5%	$95.8M+2.0%	$94.0M-30.1%	$134.5M-68.9%	$432.0M
Current Liabilities	$94.3M+7.8%	$87.5M+7.7%	$81.3M-25.5%	$109.1M+18.7%	$91.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.0B+3.8%	$970.6M+0.9%	$962.2M-13.6%	$1.1B+776.3%	-$164.7M
Retained Earnings	-$569.9M+0.9%	-$574.8M-11.8%	-$514.1M-39.7%	-$367.9M-91.1%	-$192.5M

TUYA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$80.4M+120.5%	$36.4M+151.6%	-$70.7M+44.0%	-$126.1M-156.2%	-$49.2M+13.0%	-$56.6M
Capital Expenditures	$4.2M+179.1%	$1.5M+111.1%	$710K-88.5%	$6.2M+93.5%	$3.2M+28.7%	$2.5M
Free Cash Flow	$76.2M+118.0%	$34.9M+149.0%	-$71.4M+46.1%	-$132.3M-152.4%	-$52.4M+11.2%	-$59.0M
Investing Cash Flow	$107.4M-67.7%	$332.5M+146.5%	-$714.2M-532.3%	-$113.0M-1338.6%	-$7.9M-192.5%	$8.5M
Financing Cash Flow	-$33.2M-1393.5%	-$2.2M+94.2%	-$38.6M-103.7%	$1.0B+605798.8%	-$172K-100.1%	$174.2M
Dividends Paid	$33.0M	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$70K-97.9%	$3.3M-93.1%	$48.7M-23.9%	$64.0M	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

TUYA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	47.4%+1.0pp	46.4%+3.4pp	43.0%+0.6pp	42.3%+7.9pp	34.4%+8.2pp	26.3%
Operating Margin	-16.0%+30.1pp	-46.0%+34.8pp	-80.8%-20.0pp	-60.8%-21.9pp	-38.8%+30.6pp	-69.4%
Net Margin	1.7%+27.9pp	-26.2%+44.0pp	-70.2%-12.2pp	-58.1%-20.9pp	-37.2%+29.4pp	-66.6%
Return on Equity	0.5%	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.4%+6.1pp	-5.7%+8.2pp	-13.8%+0.2pp	-14.1%+11.0pp	-25.0%	N/A
Current Ratio	9.57-0.1	9.69-2.9	12.59+1.7	10.92+8.2	2.70	N/A
Debt-to-Equity	0.100.0	0.100.0	0.10-0.0	0.12+2.7	-2.62	N/A
FCF Margin	25.5%+10.3pp	15.2%+49.5pp	-34.3%+9.5pp	-43.8%-14.7pp	-29.1%+26.7pp	-55.8%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A
Current Ratio	9.57-0.1	9.69-2.9	12.59+1.7	10.92+8.2	2.70
Debt-to-Equity	0.100.0	0.100.0	0.10-0.0	0.12+2.7	-2.62
FCF Margin	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Tuya Inc's annual revenue?

Tuya Inc (TUYA) reported $298.6M in total revenue for fiscal year 2024. This represents a 29.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tuya Inc's revenue growing?

Tuya Inc (TUYA) revenue grew by 29.8% year-over-year, from $230.0M to $298.6M in fiscal year 2024.

Is Tuya Inc profitable?

Yes, Tuya Inc (TUYA) reported a net income of $5.0M in fiscal year 2024, with a net profit margin of 1.7%.

What is Tuya Inc's earnings per share (EPS)?

Tuya Inc (TUYA) reported diluted earnings per share of $0.01 for fiscal year 2024. This represents a 109.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Tuya Inc's EBITDA?

Tuya Inc (TUYA) had EBITDA of -$46.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Tuya Inc's gross margin?

Tuya Inc (TUYA) had a gross margin of 47.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tuya Inc's operating margin?

Tuya Inc (TUYA) had an operating margin of -16.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Tuya Inc's net profit margin?

Tuya Inc (TUYA) had a net profit margin of 1.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Tuya Inc's return on equity (ROE)?

Tuya Inc (TUYA) has a return on equity of 0.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Tuya Inc's free cash flow?

Tuya Inc (TUYA) generated $76.2M in free cash flow during fiscal year 2024. This represents a 118.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tuya Inc's operating cash flow?

Tuya Inc (TUYA) generated $80.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Tuya Inc's total assets?

Tuya Inc (TUYA) had $1.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Tuya Inc's capital expenditures?

Tuya Inc (TUYA) invested $4.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Tuya Inc spend on research and development?

Tuya Inc (TUYA) invested $95.0M in research and development during fiscal year 2024.

Does Tuya Inc buy back shares?

Yes, Tuya Inc (TUYA) spent $70K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Tuya Inc have outstanding?

Tuya Inc (TUYA) had 0 shares outstanding as of fiscal year 2024.

What is Tuya Inc's current ratio?

Tuya Inc (TUYA) had a current ratio of 9.57 as of fiscal year 2024, which is generally considered healthy.

What is Tuya Inc's debt-to-equity ratio?

Tuya Inc (TUYA) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tuya Inc's return on assets (ROA)?

Tuya Inc (TUYA) had a return on assets of 0.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Tuya Inc's Piotroski F-Score?

Tuya Inc (TUYA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tuya Inc's earnings high quality?

Tuya Inc (TUYA) has an earnings quality ratio of 16.08x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Tuya Inc?

Tuya Inc (TUYA) scores 67 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.