Tuya Reports Second Quarter 2024 Unaudited Financial Results and Declaration of Special Dividend
Rhea-AI Summary
Tuya Inc. (NYSE: TUYA; HKEX: 2391) reported strong Q2 2024 financial results:
- Total revenue up 28.6% YoY to $73.3 million
- IoT PaaS revenue up 32% YoY to $54.3 million
- Overall gross margin increased to 48.0%
- Achieved first positive quarterly non-GAAP operating margin of 10.0%
- Net profit of $3.1 million, compared to net loss of $23.5 million in Q2 2023
- Non-GAAP net profit up 1,276.5% to $20.8 million
The company declared a special cash dividend of $0.0589 per share. Tuya's strong performance was driven by reduced inventory backlog, economic recovery, strategic focus on customers, and product enhancements. Management expressed confidence in future growth and profitability.
Positive
- Total revenue increased 28.6% year-over-year to $73.3 million
- IoT PaaS revenue grew 32% year-over-year to $54.3 million
- Achieved first positive quarterly non-GAAP operating margin of 10.0%
- Reported net profit of $3.1 million, compared to net loss of $23.5 million in Q2 2023
- Non-GAAP net profit increased 1,276.5% to $20.8 million
- Overall gross margin improved to 48.0%, up 1.3 percentage points year-over-year
- Declared special cash dividend of $0.0589 per share
- Dollar-based net expansion rate (DBNER) of IoT PaaS improved to 127% from 58% year-over-year
Negative
- Total customers decreased to approximately 3,000 from 3,300 in Q2 2023
- IoT PaaS customers decreased to approximately 2,100 from 2,300 in Q2 2023
News Market Reaction – TUYA
In the trading session that priced this news, TUYA declined 10.17%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Quarter 2024 Financial Highlights
- Total revenue was
US , up approximately$73.3 million 28.6% year over year (2Q2023:US ).$57.0 million - IoT platform-as-a-service ("PaaS") revenue was
US , up approximately$54.3 million 32.0% year over year (2Q2023:US ).$41.1 million - Software-as-a-service ("SaaS") and others revenue was
US , up approximately$9.6 million 2.4% year over year (2Q2023:US ).$9.4 million - Smart solution revenue was
US , up approximately$9.4 million 44.2% year over year (2Q2023:US ).$6.5 million - Overall gross margin increased to
48.0% , up 1.3 percentage points year over year (2Q2023:46.7% ). Gross margin of IoT PaaS increased to47.6% , up 3.4 percentage points year over year (2Q2023:44.2% ). - Operating margin was negative
14.1% , improved by 41.0 percentage points year over year (2Q2023: negative55.1% ). Non-GAAP operating margin was10.0% , improved by 21.2 percentage points year over year (2Q2023: negative11.2% ), marking the Company's first positive quarterly non-GAAP operating margin. - Net margin was
4.3% , improved by 45.6 percentage points year over year (2Q2023: negative41.3% ). Non-GAAP net margin was28.4% , improved by 25.7 percentage points year over year (2Q2023:2.7% ). - Net cash generated from operating activities was
US (2Q2023:$11.8 million US ).$7.5 million - Total cash and cash equivalents, time deposits and treasury securities recorded as short- term and long-term investments were
US as of June 30, 2024, compared to$1,000.1 million US as of December 31, 2023.$984.3 million
For further information on the non-GAAP financial measures presented above, see the section headed "Use of Non-GAAP Financial Measures."
Second Quarter 2024 Operating Highlights
- IoT PaaS customers1 for the second quarter of 2024 were approximately 2,100 (2Q2023: approximately 2,300). Total customers for the second quarter of 2024 were approximately 3,000 (2Q2023: approximately 3,300). The Company's key-account strategy has enabled it to focus on serving strategic customers.
- Premium IoT PaaS customers2 for the trailing 12 months ended June 30, 2024 were 280 (2Q2023: 251). In the second quarter of 2024, the Company's premium IoT PaaS customers contributed approximately
84.8% of its IoT PaaS revenue (2Q2023: approximately79.8% ). - Dollar-based net expansion rate ("DBNER")3 of IoT PaaS for the trailing 12 months ended June 30, 2024 was
127% (2Q2023:58% ). - Registered IoT device and software developers were over 1,192,000 as of June 30, 2024, up
20.1% from approximately 993,000 developers as of December 31, 2023.
- The Company defines an IoT PaaS customer for a given period as a customer who has directly placed orders for IoT PaaS with the Company during that period.
- The Company defines a premium IoT PaaS customer as a customer as of a given date that contributed more than
US ,000 of IoT PaaS revenue during the immediately preceding 12-month period.$100 - The Company calculates DBNER of IoT PaaS for a trailing 12-month period by first identifying all customers in the prior 12-month period (i.e., those have placed at least one order for IoT PaaS during that period), and then calculating the quotient from dividing the IoT PaaS revenue generated from such customers in the current trailing 12-month period by the IoT PaaS revenue generated from the same Company of customers in the prior 12-month period. The Company's DBNER may change from period to period, due to a combination of various factors, including changes in the customers' purchase cycles and amounts and the Company's customer mix, among other things. DBNER indicates the Company's ability to expand customer use of the Tuya platform over time and generate revenue growth from existing customers.
Mr. Xueji (Jerry) Wang, Founder and Chief Executive Officer of Tuya, commented, "The second quarter of 2024 marks a significant milestone for our company, as we attained a quarterly non- GAAP operating profit for the first time in our history with an operating margin of about
Ms. Yao (Jessie) Liu, Director and Chief Financial Officer of Tuya, added, "Our strong financial performance in the second quarter was underscored by a
Second Quarter 2024 Unaudited Financial Results
REVENUE
Total revenue in the second quarter of 2024 increased by
- IoT PaaS revenue in the second quarter of 2024 increased by
32.0% toUS from$54.3 million US in the same period of 2023, primarily due to reduced downstream inventory backlog, a global economic recovery compared with the same period of 2023, and the Company's strategic focus on customer needs and product enhancements. As a result, the Company's DBNER of IoT PaaS for the trailing 12 months ended June 30, 2024 increased to$41.1 million 127% from58% for the trailing 12 months ended June 30, 2023. - SaaS and others revenue in the second quarter of 2024 increased by
2.4% toUS from$9.6 million US in the same period of 2023. During the quarter, the Company remained committed to offering value-added services and a diverse range of software products with compelling value propositions to its customers.$9.4 million - Smart solution revenue in the second quarter of 2024 increased by
44.2% toUS from$9.4 million US in the same period of 2023, primarily due to the increasing customer demand for smart devices with integrated intelligent software capabilities the Company developed beyond IoT.$6.5 million
COST OF REVENUE
Cost of revenue in the second quarter of 2024 increased by
GROSS PROFIT AND GROSS MARGIN
Total gross profit in the second quarter of 2024 increased by
- IoT PaaS gross margin in the second quarter of 2024 was
47.6% , compared to44.2% in the same period of 2023, primarily due to the changes in product mix and increased product value. - SaaS and others gross margin in the second quarter of 2024 was
71.0% , compared to74.5% in the same period of 2023, due to the variations in product and service mix. - Smart solution gross margin in the second quarter of 2024 was
26.8% , compared to23.0% in the same period of 2023, primarily due to the high-value product solutions the Company provided to its customers during the second quarter of 2024.
OPERATING EXPENSES
Operating expenses decreased by
- Research and development expenses in the second quarter of 2024 were
US , down$23.0 million 13.1% fromUS in the same period of 2023, primarily due to the decrease in employee-related costs. During this quarter, average salaried employee headcount of the Company's research and development team was down approximately$26.5 million 16.7% year over year, but remained relatively stable compared to the previous quarter. Non-GAAP adjusted research and development expenses in the second quarter of 2024 wereUS , compared to$19.6 million US in the same period of 2023.$22.5 million - Sales and marketing expenses in the second quarter of 2024 were
US , down$9.4 million 4.5% fromUS in the same period of 2023, primarily due to the decrease in employee- related costs. Non-GAAP adjusted sales and marketing expenses in the second quarter of 2024 were$9.8 million US , compared to$8.2 million US in the same period of 2023.$8.2 million - General and administrative expenses in the second quarter of 2024 were
US , down$16.9 million 30.5% compared toUS in the same period of 2023, primarily due to the decline in credit-related impairment of long-term investments. Non-GAAP adjusted general and administrative expenses in the second quarter of 2024 were$24.3 million US , compared to$3.7 million US in the same period of 2023.$4.8 million - Other operating income, net in the second quarter of 2024 was
US , primarily due to the receipt of software value-added tax refunds and various general subsidies for enterprises.$3.7 million
LOSS/PROFIT FROM OPERATIONS AND OPERATING MARGIN
Loss from operations in the second quarter of 2024 narrowed by
Operating margin in the second quarter of 2024 was negative
NET LOSS/PROFIT AND NET MARGIN
The Company had a net profit of
The Company had a non-GAAP net profit of
Net margin in the second quarter of 2024 was
BASIC AND DILUTED NET LOSS/PROFIT PER ADS
Basic and diluted net profit per ADS was
Non-GAAP basic and diluted net profit per ADS was
CASH AND CASH EQUIVALENTS, TIME DEPOSITS AND TREASURY SECURITIES RECORDED AS SHORT-TERM AND LONG-TERM INVESTMENTS
Cash and cash equivalents, time deposits and treasury securities recorded as short-term and long- term investments were US
NET CASH GENERATED FROM OPERATING ACTIVITIES
Net cash generated from operating activities in the second quarter of 2024 was
For further information on non-GAAP financial measures presented above, see the section headed "Use of Non-GAAP Financial Measures."
Business Outlook
With the stabilizing macroeconomic environment, normalizing downstream inventory levels, and growing demand for consumer electronics, the industry is currently on a positive trajectory. With the effective implementation of the Company's customer and product strategies, along with the utilization and innovation of emerging technologies like generative AI, the Company is confident in its business prospects.
The Company will remain committed to continuously iterating and improving its products and services, further enhancing software and hardware capabilities, expanding key customer base, investing in innovations and new opportunities, diversifying revenue streams, and further optimizing operating efficiency. At the same time, the Company understands that future trajectories may encounter challenges, including shifting consumer spending patterns, regional economic disparities, inventory management, foreign exchange rate and interests rate volatility, and broader geopolitical uncertainties.
Declaration of Special Dividend and Record Date
On August 26, 2024, the Board has approved the declaration and distribution of a special dividend (the "Special Dividend") of
In order to qualify for the Special Dividend, with respect to ordinary shares registered on the Company's
Dividend to be paid to the holders of ADSs issued by the depositary of the ADSs will be subject to the terms of the deposit agreement.
The payment date is expected to be on or around October 9, 2024 for holders of ordinary shares, and on or around October 15, 2024 for holders of ADSs.
Conference Call Information
The Company's management will hold a conference call at 08:30 P.M. Eastern Time on Monday, August 26, 2024 (08:30 A.M. Beijing Time on Tuesday, August 27, 2024) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including a conference access code, a PIN number (personal access code), the dial- in number, and an e-mail with detailed instructions to join the conference call.
Online registration: https://register.vevent.com/register/BI51298387e78143d9935bd5c0ea03f104
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.tuya.com, and a replay of the webcast will be available following the session.
About Tuya Inc.
Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a global leading cloud platform service provider with a mission to build a smart solutions developer ecosystem and enable everything to be smart. Tuya has pioneered a purpose-built cloud developer platform with cloud and generative AI capabilities that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, Software-as-a- Service, or SaaS, and smart solutions for developers of smart device, commercial applications, and industries. Through its cloud developer platform, Tuya has activated a vibrant global developer community of brands, OEMs, AI agents, system integrators and independent software vendors to collectively strive for smart solutions ecosystem embodying the principles of green and low- carbon, security, high efficiency, agility, and openness.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP financial measures, such as non-GAAP operating expenses, non-GAAP loss from operations (including non-GAAP operating margin), non-GAAP net (loss)/profit (including non-GAAP net margin), and non-GAAP basic and diluted net (loss)/profit per ADS, as supplemental measures to review and assess its operating performance. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles in
Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using the aforementioned non-GAAP financial measures is that they do not reflect all items of expenses that affect the Company's operations. Share-based compensation expenses, credit-related impairment of long-term investments and litigation costs have been and may continue to be incurred in the business and are not reflected in the presentation of non-GAAP measures. Further, the non-GAAP financial measures may differ from the non- GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP measures to the most directly comparable U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.
Reconciliations of Tuya's non-GAAP financial measures to the most comparable U.S. GAAP measures are included at the end of this press release.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
Investor Relations Contact
Tuya Inc.
Investor Relations Email: ir@tuya.com
The Blueshirt Group Gary Dvorchak, CFA
Phone: +1 (323) 240-5796
Email: gary@blueshirtgroup.co
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
As of December | As of June | |||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | 498,688 | 614,767 | ||||||||||
Restricted cash | – | 152 | ||||||||||
Short-term investments | 291,023 | 175,218 | ||||||||||
Accounts receivable, net | 9,214 | 6,763 | ||||||||||
Notes receivable, net | 4,955 | 7,271 | ||||||||||
Inventories, net | 32,865 | 28,088 | ||||||||||
Prepayments and other current assets, net | 11,053 | 19,027 | ||||||||||
Total current assets | 847,798 | 851,286 | ||||||||||
Non-current assets: | 2,589 | 2,394 | ||||||||||
Operating lease right-of-use assets, net | 7,647 | 6,007 | ||||||||||
Long-term investments | 207,489 | 220,401 | ||||||||||
Other non-current assets, net | 877 | 9,562 | ||||||||||
Total non-current assets | 218,602 | 238,364 | ||||||||||
Total assets | 1,066,400 | 1,089,650 | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Accounts payable | 11,577 | 11,638 | ||||||||||
Advances from customers | 31,776 | 32,299 | ||||||||||
Deferred revenue, current | 6,802 | 6,504 | ||||||||||
Accruals and other current liabilities | 32,807 | 30,625 | ||||||||||
Incomes tax payables | 689 | – | ||||||||||
Lease liabilities, current | 3,883 | 3,872 | ||||||||||
Total current liabilities | 87,534 | 84,938 | ||||||||||
Non-current liabilities: | ||||||||||||
Lease liabilities, non-current | 3,904 | 2,120 | ||||||||||
Deferred revenue, non-current | 506 | 425 | ||||||||||
Other non-current liabilities | 3,891 | 2,300 | ||||||||||
Total non-current liabilities | 8,301 | 4,845 | ||||||||||
Total liabilities | 95,835 | 89,783 | ||||||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) | ||||||||||||
As of | As of June | |||||||||||
Shareholders' equity: | ||||||||||||
Ordinary shares | – | – | ||||||||||
Class A ordinary shares | 25 | 25 | ||||||||||
Class B ordinary shares | 4 | 4 | ||||||||||
Treasury stock | (53,630) | (43,628) | ||||||||||
Additional paid-in capital | 1,616,105 | 1,637,052 | ||||||||||
Accumulated other comprehensive loss | (17,091) | (18,323) | ||||||||||
Accumulated deficit | (574,848) | (575,263) | ||||||||||
Total shareholders' equity | 970,565 | 999,867 | ||||||||||
Total liabilities and shareholders' equity | 1,066,400 | 1,089,650 | ||||||||||
COMPREHENSIVE LOSS | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||
Revenue | 57,004 | 73,279 | 104,489 | 134,941 | ||||||||
Cost of revenue | (30,363) | (38,087) | (56,820) | (70,264) | ||||||||
Gross profit | 26,641 | 35,192 | 47,669 | 64,677 | ||||||||
Operating expenses: | ||||||||||||
Research and development expenses | (26,474) | (22,993) | (54,525) | (46,467) | ||||||||
Sales and marketing expenses | (9,826) | (9,387) | (20,085) | (18,370) | ||||||||
General and administrative expenses | (24,273) | (16,861) | (41,066) | (32,335) | ||||||||
Other operating incomes, net | 2,514 | 3,705 | 4,294 | 5,784 | ||||||||
Total operating expenses | (58,059) | (45,536) | (111,382) | (91,388) | ||||||||
Loss from operations | (31,418) | (10,344) | (63,713) | (26,711) | ||||||||
Other income | ||||||||||||
Other non-operating incomes, net | 778 | 1,869 | 1,556 | 2,647 | ||||||||
Financial income, net | 7,305 | 12,452 | 18,775 | 25,259 | ||||||||
Foreign exchange gain/(loss), net | 937 | (257) | 903 | (362) | ||||||||
(Loss)/profit before income tax expense | (22,398) | 3,720 | (42,479) | 833 | ||||||||
Income tax expense | (1,151) | (592) | (2,115) | (1,248) | ||||||||
Net (loss)/profit | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Net (loss)/profit attributable to Tuya Inc. | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Net (loss)/profit attributable to ordinary shareholders | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Net (loss)/profit | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Other comprehensive (loss)/income | ||||||||||||
Changes in fair value of long-term investments | (1,053) | (139) | (1,053) | (139) | ||||||||
Transfer out of fair value changes of long-term | 8,050 | – | 8,050 | (65) | ||||||||
Foreign currency translation | (6,882) | (600) | (5,254) | (1,028) | ||||||||
Total comprehensive (loss)/income attributable to Tuya Inc. | (23,434) | 2,389 | (42,851) | (1,647) | ||||||||
| COMPREHENSIVE LOSS (CONTINUED) | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||
Net (loss)/profit attributable to Tuya Inc. | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Net (loss)/profit attributable to ordinary shareholders | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Weighted average number of ordinary shares used in computing net | ||||||||||||
– Basic | 554,945,739 | 559,710,445 | 554,472,706 | 559,421,815 | ||||||||
– Diluted | 554,945,739 | 592,735,568 | 554,472,706 | 559,421,815 | ||||||||
Net (loss)/profit per share attributable to ordinary shareholders | ||||||||||||
– Basic | (0.04) | 0.01 | (0.08) | 0.00 | ||||||||
– Diluted | (0.04) | 0.01 | (0.08) | 0.00 | ||||||||
Share-based compensation expenses were included in: | ||||||||||||
Research and development expenses | 4,006 | 3,376 | 8,123 | 6,882 | ||||||||
Sales and marketing expenses | 1,620 | 1,169 | 3,226 | 2,554 | ||||||||
General and administrative expenses | 11,386 | 10,864 | 22,983 | 21,787 | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||
Net cash generated from/(used in) operating activities | 7,495 | 11,829 | (11,387) | 26,319 | ||||||||
Net cash generated from/(used in) investing activities | 11,489 | 73,890 | (22,335) | 90,085 | ||||||||
Net cash generated from/(used in) financing activities | 104 | (104) | (2,067) | 150 | ||||||||
Effect of exchange rate changes on cash and cash equivalents, | (3,791) | (197) | (2,830) | (323) | ||||||||
Net increase/(decrease) in cash and cash equivalents, restricted | 15,297 | 85,418 | (38,619) | 116,231 | ||||||||
Cash and cash equivalents, restricted cash at the beginning of period | 79,245 | 529,501 | 133,161 | 498,688 | ||||||||
Cash and cash equivalents, restricted cash at the end of period | 94,542 | 614,919 | 94,542 | 614,919 | ||||||||
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||
Reconciliation of operating expenses to non-GAAP operating expenses | ||||||||||||
Research and development expenses | (26,474) | (22,993) | (54,525) | (46,467) | ||||||||
Add: Share-based compensation | 4,006 | 3,376 | 8,123 | 6,882 | ||||||||
Adjusted Research and development expenses | (22,468) | (19,617) | (46,402) | (39,585) | ||||||||
Sales and marketing expenses | (9,826) | (9,387) | (20,085) | (18,370) | ||||||||
Add: Share-based compensation | 1,620 | 1,169 | 3,226 | 2,554 | ||||||||
Adjusted Sales and marketing expenses | (8,206) | (8,218) | (16,859) | (15,816) | ||||||||
General and administrative expenses | (24,273) | (16,861) | (41,066) | (32,335) | ||||||||
Add: Share-based compensation | 11,386 | 10,864 | 22,983 | 21,787 | ||||||||
Add: Credit-related impairment of long-term investments | 8,050 | 189 | 8,050 | 189 | ||||||||
Add: Litigation costs | – | 2,100 | – | 2,100 | ||||||||
Adjusted General and administrative expenses | (4,837) | (3,708) | (10,033) | (8,259) | ||||||||
Reconciliation of loss from operations to non-GAAP | ||||||||||||
(loss)/profit from operations | ||||||||||||
Loss from operations | (31,418) | (10,344) | (63,713) | (26,711) | ||||||||
Add: Share-based compensation expenses | 17,012 | 15,409 | 34,332 | 31,223 | ||||||||
Add: Credit-related impairment of long-term investments | 8,050 | 189 | 8,050 | 189 | ||||||||
Add: Litigation costs | – | 2,100 | – | 2,100 | ||||||||
Non-GAAP (Loss)/Profit from operations | (6,356) | 7,354 | (21,331) | 6,801 | ||||||||
Non-GAAP Operating margin | (11.2) % | 10.0 % | (20.4) % | 5.0 % | ||||||||
Reconciliation of net (loss)/profit to non-GAAP net profit/(loss) | ||||||||||||
Net (loss)/profit | (23,549) | 3,128 | (44,594) | (415) | ||||||||
Add: Share-based compensation expenses | 17,012 | 15,409 | 34,332 | 31,223 | ||||||||
Add: Credit-related impairment of long-term investments | 8,050 | 189 | 8,050 | 189 | ||||||||
Add: Litigation costs | – | 2,100 | – | 2,100 | ||||||||
Non-GAAP Net profit/(loss) | 1,513 | 20,826 | (2,212) | 33,097 | ||||||||
Non-GAAP Net margin | 2.7 % | 28.4 % | (2.1) % | 24.5 % | ||||||||
Weighted average number of ordinary shares used in computing non- | ||||||||||||
– Basic | 554,945,739 | 559,710,445 | 554,472,706 | 559,421,815 | ||||||||
– Diluted | 586,513,021 | 592,735,568 | 554,472,706 | 591,970,099 | ||||||||
Non-GAAP net profit/(loss) per share attributable to ordinary | ||||||||||||
– Basic | 0.00 | 0.04 | 0.00 | 0.06 | ||||||||
– Diluted | 0.00 | 0.04 | 0.00 | 0.06 | ||||||||
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SOURCE Tuya Inc.