Tuya Inc Stock Price, News & Analysis

Tuya Smart (NYSE: TUYA) showcased innovative smart lighting solutions at LightFair 2022 in Las Vegas, running from June 19-23. Under the theme 'Light Up the Unlimited Future,' Tuya presented its new Small and Midsize Business and Residential Lighting Control Systems, which streamline control via a single app. These systems facilitate easy installations and ongoing updates. Highlights included the Geographic Biorhythm Lighting, enhancing wellness, and the Smart TV Backlights for immersive experiences. Tuya's strong partnerships with Fortune 500 companies position it as a trusted player in the smart lighting industry.

Tuya Inc. (NYSE: TUYA), a leading IoT cloud development platform, launched a global offering of 7,300,000 Class A ordinary shares on June 22, 2022. This includes a Hong Kong public offering of 730,000 shares and an international offering of 6,570,000 shares. The Hong Kong Offering Price is set at a maximum of HK$22.80 (US$2.90 per share). The company intends to utilize the proceeds to enhance IoT technologies, improve product offerings, and pursue strategic partnerships. The offering is subject to market conditions, and no assurance can be given on its completion.

Tuya Inc. (NYSE: TUYA) reported its Q1 2022 financial results, highlighting total revenue of US$55.3 million, a decline of 2.7% year over year. IoT PaaS revenue dropped 16.1% to US$41.8 million, while SaaS and other revenue surged 146.7% to US$5.8 million. Operating margin worsened to negative 100.3%, with a net loss of US$55 million. Despite these challenges, Tuya maintained a stable gross margin at 41.2% and continues to focus on improving operational efficiency. The company anticipates Q2 2022 revenue between US$60 million and US$65 million.

APIX 2022, one of the largest API business events worldwide, is now open for registration. Hosted by Sensedia, this year’s event includes a free online session on June 29 and an in-person event on June 30 in São Paulo, Brazil. Participants can enjoy eight hours of virtual content with international experts across four regions: Brazil, the US, Mexico, and the UK. Notable speakers include Randy Heffner discussing integration strategies. The event aims to share insights on APIs and microservices, enhancing business agility and connectivity.

Tuya Smart (NYSE: TUYA) will participate in the LightFair 2022 Trade Show from June 19-23, 2022 in Las Vegas. The event features over 300 brands, showcasing innovative lighting solutions. At booth West Hall 1915, Tuya will present its latest IoT lighting products, focusing on business and residential scenarios. Two highlight systems include the Small and Medium Business Lighting Control System and a Residential Lighting Control System. The global smart lighting market is projected to grow at a CAGR of 20.3%, surpassing US$ 83.52 billion by 2031.

Tuya Inc. (NYSE: TUYA), a leader in IoT cloud development, will release its first quarter 2022 unaudited financial results on June 14, 2022, after market close. A conference call is scheduled for 08:00 PM ET on the same date to discuss these results. Participants must register online to receive access details. A replay will be available until June 21, 2022. Tuya provides a comprehensive IoT development platform, enabling businesses and developers to connect within a diverse ecosystem of smart devices.

Tuya Inc. (NYSE: TUYA) announced that it has been provisionally listed as a "Commission-Identified Issuer" by the SEC under the Holding Foreign Companies Accountable Act (HFCAA). This follows the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021. The listing obligates the SEC to prohibit trading if the Company's auditor is not PCAOB-inspected for three consecutive years. Despite this, Tuya's ADSs continue trading on the NYSE, with no operational impact reported. Tuya is exploring options to protect shareholder interests while ensuring compliance with applicable regulations.

Tuya Inc. (NYSE: TUYA), a leading IoT cloud development platform, filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 28, 2022. This report is accessible via the company's investor relations website and the SEC's website. Tuya aims to foster an IoT developer ecosystem, providing a comprehensive suite of offerings, including PaaS and SaaS. The company is focused on enabling smart devices connectivity for developers and end-users alike.

Tuya Inc. (NYSE: TUYA) has updated its revenue guidance for the first quarter of 2022, expecting total revenue between US$54 million and US$55 million. This is an increase from the previous estimate of US$50 million to US$57 million. However, the company warns that this estimate is subject to various risks, including economic fluctuations, COVID-19 impacts, and geopolitical tensions. Tuya is dedicated to building an IoT development ecosystem, offering a comprehensive platform for businesses and developers.