Tuya Inc. headline

Rhea-AI Summary

Tuya Inc. released its Q4 and fiscal year 2024 unaudited financial results on February 26, 2025, from Santa Clara, California. No specific financial details were provided in the press release excerpt.

Positive

• Dividend declaration announced

Negative

• None.

News Market Reaction

+1.13%

1 alert

+1.13% News Effect

On the day this news was published, TUYA gained 1.13%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SANTA CLARA, Calif., Feb. 26, 2025 /PRNewswire/ -- 

 

 

TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023 AND 2024
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	As of December 31,		As of December 31,
	2023		2024
ASSETS
Current assets:
Cash and cash equivalents	498,688		653,334
Restricted cash	–		50
Short-term investments	291,023		194,536
Accounts receivable, net	9,214		7,592
Notes receivable, net	4,955		7,485
Inventories, net	32,865		23,840
Prepayments and other current assets, net	11,053		16,179
Total current assets	847,798		903,016
Non-current assets:
Property, equipment and software, net	2,589		6,619
Land use rights, net	–		8,825
Operating lease right-of-use assets, net	7,647		4,550
Long-term investments	207,489		180,092
Other non-current assets, net	877		678
Total non-current assets	218,602		200,764
Total assets	1,066,400		1,103,780
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	11,577		19,051
Advances from customers	31,776		31,346
Deferred revenue, current	6,802		7,525
Accruals and other current liabilities	32,807		32,257
Incomes tax payables	689		360
Lease liabilities, current	3,883		3,798
Total current liabilities	87,534		94,337
Non-current liabilities:
Lease liabilities, non-current	3,904		851
Deferred revenue, non-current	506		377
Other non-current liabilities	3,891		767
Total non-current liabilities	8,301		1,995
Total liabilities	95,835		96,332

 

 

TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) AS OF DECEMBER 31, 2023 AND 2024
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	As of December 31,		As of December 31,
	2023		2024
Shareholders' equity:
Ordinary shares	–		–
Class A ordinary shares	25		25
Class B ordinary shares	4		4
Treasury stock	(53,630)		(15,726)
Additional paid-in capital	1,616,105		1,612,712
Accumulated other comprehensive loss	(17,091)		(19,716)
Accumulated deficit	(574,848)		(569,851)
Total shareholders' equity	970,565		1,007,448
Total liabilities and shareholders' equity	1,066,400		1,103,780

 

 

TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	For the Three Months Ended				For the Year Ended
	December 31,		December 31,		December 31,		December 31,
	2023		2024		2023		2024
Revenue	64,411		82,059		229,990		298,617
Cost of revenue	(33,948)		(42,821)		(123,335)		(157,187)
Gross profit	30,463		39,238		106,655		141,430
Operating expenses:
Research and development expenses	(22,806)		(23,705)		(102,277)		(95,049)
Sales and marketing expenses	(10,937)		(9,048)		(40,440)		(37,081)
General and administrative expenses	(23,754)		(13,618)		(80,663)		(68,254)
Other operating incomes, net	3,410		3,337		10,901		11,334
Total operating expenses	(54,087)		(43,034)		(212,479)		(189,050)
Loss from operations	(23,624)		(3,796)		(105,824)		(47,620)
Other income/(loss)
Other non-operating income, net	778		767		3,113		4,180
Financial income, net	13,135		12,474		44,976		50,718
Foreign exchange gain/(loss), net	17		864		669		(136)
(Loss)/profit before income tax expense	(9,694)		10,309		(57,066)		7,142
Income tax expense	(1,122)		(524)		(3,249)		(2,145)
Net (loss)/profit	(10,816)		9,785		(60,315)		4,997
Net (loss)/profit attributable to Tuya Inc.	(10,816)		9,785		(60,315)		4,997
Net (loss)/profit attribute to ordinary shareholders	(10,816)		9,785		(60,315)		4,997
Net (loss)/profit	(10,816)		9,785		(60,315)		4,997
Other comprehensive (loss)/income
Changes in fair value of long-term investments	(5,321)		153		(7,791)		14
Transfer out of fair value changes of long-term investments	7,487		–		15,537		65
Foreign currency translation	1,772		(4,450)		(2,722)		(2,574)
Total comprehensive (loss)/income attributable to Tuya Inc.	(6,878)		5,488		(55,291)		2,372

 

 

TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED)
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	For the Three Months Ended				For the Year Ended
	December 31,		December 31,		December 31,		December 31,
	2023		2024		2023		2024
Net (loss)/profit attributable to Tuya Inc.	(10,816)		9,785		(60,315)		4,997
Net (loss)/profit attributable to ordinary shareholders	(10,816)		9,785		(60,315)		4,997
Weighted average number of ordinary shares used in
computing net (loss)/profit per share, basic and diluted
– basic	557,103,923		587,987,654		555,466,061		573,782,783
– diluted	557,103,923		589,689,036		555,466,061		591,006,801
Net (loss)/profit per share attributable to
ordinary shareholders, basic and diluted
– Basic	(0.02)		0.02		(0.11)		0.01
– Diluted	(0.02)		0.02		(0.11)		0.01
Share-based compensation expenses were included in:
Research and development expenses	3,446		2,487		14,734		14,347
Sales and marketing expenses	1,462		869		5,446		5,098
General and administrative expenses	11,028		8,855		45,036		48,305

 

 

TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	For the Three Months Ended				For the Year Ended
	December 31,		December 31,		December 31,		December 31,
	2023		2024		2023		2024
Net cash generated from operating activities	31,760		30,182		36,443		80,352
Net cash generated from investing activities	299,763		45,556		332,455		107,428
Net cash generated from/(used in) financing activities	162		(33,022)		(2,223)		(33,200)
Effect of exchange rate changes on cash and cash equivalents, restricted cash	729		(387)		(1,148)		116
Net increase in cash and cash equivalents, restricted cash	332,414		42,329		365,527		154,696
Cash and cash equivalents, restricted cash at the beginning of period	166,274		611,055		133,161		498,688
Cash and cash equivalents, restricted cash at the end of period	498,688		653,384		498,688		653,384

 

 

TUYA INC.
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	For the Three Months Ended				For the Year Ended
	December 31,		December 31,		December 31,		December 31,
	2023		2024		2023		2024
Reconciliation of operating expenses to non-GAAP operating expenses
Research and development expenses	(22,806)		(23,705)		(102,277)		(95,049)
Add: Share-based compensation expenses	3,446		2,487		14,734		14,347
Adjusted Research and development expenses	(19,360)		(21,218)		(87,543)		(80,702)
Sales and marketing expenses	(10,937)		(9,048)		(40,440)		(37,081)
Add: Share-based compensation expenses	1,462		869		5,446		5,098
Adjusted Sales and marketing expenses	(9,475)		(8,179)		(34,994)		(31,983)
General and administrative expenses	(23,754)		(13,618)		(80,663)		(68,254)
Add: Share-based compensation expenses	11,028		8,855		45,036		48,305
Add: Credit-related impairment of long-term investments	7,435		72		15,537		261
Add: Litigation costs	–		–		–		2,300
Adjusted General and administrative expenses	(5,291)		(4,691)		(20,090)		(17,388)
Reconciliation of loss from operations to non-GAAP (loss)/profit from operations
Loss from operations
	(23,624)		(3,796)		(105,824)		(47,620)
Operating margin	(36.70 %)		(4.60 %)		(46.00 %)		(15.90 %)
Add: Share-based compensation expenses	15,936		12,211		65,216		67,750
Add: Credit-related impairment of long-term investments	7,435		72		15,537		261
Add: Litigation costs	–		–		–		2,300
Non-GAAP (loss)/profit from operations	(253)		8,487		(25,071)		22,691
Non-GAAP Operating margin	(0.40 %)		10.30 %		(10.90 %)		7.60 %

 

 

TUYA INC.
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES (CONTINUED)
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
	For the Three Months Ended				For the Year Ended
	December 31,		December 31,		December 31,		December 31,
	2023		2024		2023		2024
Reconciliation of net (loss)/profit to non-GAAP net profit
Net (loss)/profit	(10,816)		9,785		(60,315)		4,997
Net margin	(16.8 %)		11.9 %		(26.2 %)		1.7 %
Add: Share-based compensation expenses	15,936		12,211		65,216		67,750
Add: Credit-related impairment of long-term investments	7,435		72		15,537		261
Add: Litigation costs	–		–		–		2,300
Non-GAAP Net profit	12,555		22,068		20,438		75,308
Non-GAAP Net margin	19.5 %		26.9 %		8.9 %		25.2 %
Weighted average number of ordinary shares used in computing non-GAAP net profit per share,
– Basic	557,103,923		587,987,654		555,466,061		573,782,783
– Diluted	589,438,606		589,689,036		586,431,849		591,006,801
Non-GAAP net profit per share attributable to ordinary shareholders
– Basic	0.02		0.04		0.04		0.13
– Diluted	0.02		0.04		0.03		0.13

 

 

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SOURCE Tuya Inc.

FAQ

When did Tuya (TUYA) release its Q4 2024 earnings report?

Tuya released its Q4 and fiscal year 2024 unaudited financial results on February 26, 2025.

Where was Tuya's (TUYA) Q4 2024 earnings announcement made from?

The earnings announcement was made from Santa Clara, California.

What period does Tuya's (TUYA) latest financial report cover?

The report covers both the fourth quarter and full fiscal year 2024.

Did Tuya (TUYA) declare a dividend with their Q4 2024 results?

According to the press release title, a dividend was declared, but specific details were not provided in the excerpt.