LAS VEGAS, Jan. 9, 2025 /PRNewswire/ -- Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, showcased its cutting-edge innovations under the theme "AI DIVE IN" at CES 2025. The initiative demonstrates how AI technology integration with hardware products and solutions can create smarter and more sustainable living environments while driving global technological innovation. Guided by this theme, Tuya unveiled a series of smart solutions and platform capabilities across multiple doma ...

CES 2025 Participation and Theme - Tuya Smart showcases its latest AI-driven products and solutions at CES 2025, aligning with the event's theme and introducing its own variation, "AI DIVE IN" [1][2] - The company releases its Four Signature Colors for 2025: Tech Purple, Eco Green, Distant Mountain Blue, and Vibrant Yellow, which embody its vision for the future [2] AI Integration and Industry Impact - AI is becoming ubiquitous, integrating into every corner of human life and transforming the physical world [3] - By 2024, more than 70% of terminal devices in the Chinese market will feature AI capabilities, with AI terminals accounting for 55% [5] - Tuya's CES 2025 theme "AI DIVE IN" emphasizes the importance of embracing AI to avoid being left behind in the technological revolution [5][6] Tuya's AI Development and Partnerships - Tuya collaborates with advanced large language models such as Doubao, Tongyi Qianwen, Kimi, OpenAI, Claude, Gemini, and Amazon Nova to enable seamless AI integration for hardware customers [7] - The company showcases its newly designed AI development platform and groundbreaking AI-powered products at CES 2025 [7] Tuya's Vision and Future Development - Tuya's Chinese theme "Yu AI Tong Xing" translates to "Journeying with AI," reflecting the company's focus on innovative integration of AI, cloud computing, and other cutting-edge technologies [7] - The phrase "Zhi Ze Wan Xiang" highlights the arrival of the AI era, which is permeating all aspects of human life and empowering various industries [8] - AI serves as a key to the future, allowing humanity to tackle challenges more wisely and benefit from its rewards [9] Tuya's Four Signature Colors and Their Meanings - Tech Purple symbolizes Tuya's commitment to cutting-edge technology and innovation [11] - Eco Green represents Tuya's vision of creating a green intelligent ecosystem, integrating smart technology across various sectors to build a zero-carbon future [12] - Distant Mountain Blue conveys professionalism and trust, symbolizing Tuya's openness and spirit of exploration [13] - Vibrant Yellow reflects the enthusiasm and energy of the Tuya team, driving AI innovation and the creation of groundbreaking products [14] Conclusion - Tuya showcases its profound knowledge and forward-looking vision in the AI field at CES 2025, painting a colorful technological picture for global developers with its Four Signature Colors [15] - The company will continue to explore AI technology with global partners, adhering to a neutral and open development philosophy to create a better smart life for users [15]

NEW YORK, Dec. 26, 2024 /PRNewswire/ -- On December 3, 2024, Tuya Smart (NYSE: TUYA, HKEX: 2391), the global cloud platform service provider, received the 2024 Geo and Global AWS Partner Awards at the AWS re:Invent 2024 event. The company won two awards in the Greater China Region: Sustainability Partner of the Year and Design Partner of the Year. Held annually in Las Vegas, AWS re:Invent is the world's largest cloud computing technology event, bringing together global industry leaders and innovators. The 2 ...

Tuya (TUYA) shares have risen 19.2% in the past three months, significantly outpacing the Zacks Computer and Technology and the Zacks Internet - Software industry’s return of 6.8% and 8.1%, respectively. The stock has also outperformed the Technology Select Sector SPDR Fund (XLK) ETF’s three-month return of 5.5%.This outperformance highlights Tuya's strong financial standing, growing SaaS ecosystem and steady revenue growth. The company is benefiting from its strategic focus on enterprise partnerships, tech ...

Core Insights - Tuya Smart has been recognized for its innovative Home Energy Management System (HEMS) at the "20 CASES FOR 20 YEARS" initiative by UNGC, reflecting its commitment to ESG principles and sustainable development [1][2][3] Group 1: Recognition and Commitment - The recognition of Tuya's HEMS highlights the company's dedication to balancing social responsibility, environmental protection, and economic growth [3] - The "20 CASES for 20 YEARS" initiative selected 20 exemplary sustainable development cases from various companies, including Tuya, based on criteria such as economic efficiency and innovation [2] Group 2: Smart Energy Management Solutions - Tuya's HEMS aims to empower households to achieve smart energy management, addressing the fact that household electricity consumption accounts for approximately 30% of global power usage [4] - In Singapore, Tuya's HEMS is projected to help 1.8 million households save an average of 25% on energy costs, with some reporting up to a 54% reduction in monthly electricity expenses [5] Group 3: Collaborations and Global Impact - Tuya collaborates with various stakeholders, including customers and governments, to provide tools and support for personalized smart energy solutions [6] - Partnerships in Europe and with global entities aim to expand the adoption of smart home energy management solutions, promoting green living [7] Group 4: Participation in Global Events - Tuya showcased its HEMS at COP29, emphasizing the potential of smart energy management in driving global carbon reduction efforts [8] - The company's collaborations are enhancing its capabilities in key ESG areas, contributing to a smarter and greener future [10]

Tuya (TUYA) , a leading global provider of IoT development platforms, has seen its stock decline 32% year to date (YTD), significantly underperforming the Zacks Internet - Software industry’s return of 28.8%. The stock has also underperformed the Technology Select Sector SPDR Fund (XLK) ETF’s YTD return of 20.1%.While the plunge raises concerns about Tuya’s near-term challenges, the long-term investment case appears compelling. Tuya’s strong fundamentals, growing market presence and strategic initiatives po ...

NEW YORK, Nov. 21, 2024 /PRNewswire/ -- Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, in partnership with Biosphere 3, successfully hosted a side event titled "Sustainable Communities and Technology Applications" in the COP29 Blue Zone. The company also participated in an additional side event "Energy Transition: Challenges and Opportunities". These engagements explored the innovative applications of smart technology in energy transition and carbon reduction, emphasizing its ...

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Summary of Tuya Inc. Q3 2024 Earnings Conference Call Company Overview - **Company**: Tuya Inc. - **Quarter**: Q3 2024 - **Key Executives Present**: Jerry Wang (CEO), Alex Jiang (CFO) Financial Performance - **Total Revenue**: $81.6 million, up 33.6% year-over-year [9] - **Non-GAAP Operating Profit Margin**: 9.1% [12] - **Non-GAAP Net Profit Margin**: 24.7% [12] - **Gross Margin**: 46%, stable compared to the same period in 2023 [10] - **IOT PaaS Revenue**: $57.9 million, representing a year-over-year growth of 26.4% [10] - **Dollar-Based Net Expansion Rate**: 124%, indicating strong demand from existing customers [10][5] Business Segments Performance - **Smart Solutions Segment**: Over 100% year-over-year revenue growth, driven by strong market demand in home appliances [3] - **Energy-Efficient Equipment**: Revenue growth of 26% year-over-year [3] - **SaaS and Other Segments**: Grew approximately 17% year-over-year, with core cloud software value-added services increasing by over 50% [4] Strategic Initiatives - **Product Development**: Focus on energy-efficient products and solutions, aligning with market demand [3] - **AI Integration**: Introduction of AI capabilities in products, enhancing user experience and functionality [4][20] - **Global Expansion**: Continued efforts in international markets, particularly in Southeast Asia, with new partnerships and customer acquisitions [8][9] Market Trends and Customer Insights - **Customer Behavior**: Stable demand observed despite potential tariff increases; customers are relocating supply chains but still rely on Chinese components [14] - **New Partnerships**: Secured key customers in various regions, including Canada and Brazil, enhancing market presence [5] Future Outlook - **Q4 2024 Expectations**: Optimistic outlook despite limited visibility due to seasonal factors; demand remains steady [14] - **Long-Term Vision**: Anticipation of IoT and AI becoming fundamental technologies, with significant growth potential in the next 10-20 years [22] Shareholder Engagement - **New Shareholder**: 65 equity partners acquired approximately 13% of Tuya's total issued shares, reflecting confidence in the company's vision [9] - **Dividend Policy**: Special dividend issued, with plans to evaluate regular dividends based on non-GAAP profitability [18] Additional Insights - **Developer Community**: Increased focus on empowering developers with access to the latest information and tools [6] - **Benchmark Projects**: Progress in creating industry-level digital market projects, including collaborations with telecom operators [7] This summary encapsulates the key points from Tuya Inc.'s Q3 2024 earnings call, highlighting financial performance, strategic initiatives, market trends, and future outlook.

Financial Data and Key Metrics Changes - In Q3 2024, the company achieved total revenue of $81.6 million, reflecting a year-over-year increase of 33.6% [9][10] - The non-GAAP operating margin was approximately 9.1%, while the non-GAAP net profit margin was around 24.7% [12][10] - The gross margin for Q3 was reported at 46%, remaining stable compared to the same period in 2023 [10][11] Business Line Data and Key Metrics Changes - Revenue from the IoT PaaS segment reached $57.9 million, representing a year-over-year growth of 26.4% [10] - The Smart Solutions segment saw over 100% year-over-year revenue growth, driven by strong market demand, particularly in home appliances [3][4] - Revenue from SaaS and other segments grew by approximately 17% year-over-year, with core cloud software value-added services increasing by over 50% [3][4] Market Data and Key Metrics Changes - The dollar-based net expansion rate stood at 124%, indicating healthy growth among existing customers [5][10] - Europe remained the largest market, exhibiting stable demand and smooth progress in partnerships with both new and existing clients [5][4] - New customer acquisitions occurred in various regions, including Canada and Brazil, indicating expansion into emerging markets [5][4] Company Strategy and Development Direction - The company focuses on energy-efficient products and solutions, aligning with global demand trends [3][4] - Strategic partnerships with key customers are emphasized to adapt to market needs and enhance product planning [3][4] - The company aims to leverage AI capabilities to enhance user experience and product functionality [4][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for Q4, despite limited visibility due to seasonal factors and ongoing tariff discussions [14][15] - The company noted that customer behaviors have adapted to tariff changes, with supply chains being relocated as necessary [15][14] - Future growth is anticipated in the IoT and AI sectors, with a belief that these technologies will become fundamental in the coming years [23][24] Other Important Information - The company welcomed a new significant shareholder, reflecting confidence in its vision and international expansion strategy [8][9] - The number of registered developers on the Tuya platform increased to approximately 1.26 million, indicating strong community engagement [6][7] Q&A Session Summary Question: Outlook for Q4 and customer behavior changes due to tariffs - Management indicated that Q4 is expected to be a steady season, with positive momentum despite limited visibility due to seasonal factors and tariff impacts [14][15] Question: Stability of gross profit margin - Management noted that while the gross margin may gradually decrease due to the growth of smart solutions, this is considered healthy as each segment remains competitive [16][15] Question: Expectations for IoT PaaS business and shareholder returns - Management highlighted a rebound in demand for IoT PaaS, driven by customer reinvestment and project kick-offs, and emphasized a commitment to shareholder returns through potential dividends based on profitability [17][19] Question: Advances in AI and revenue guidance - Management discussed ongoing AI initiatives, including integrating AI capabilities into devices and developing AI-based services, with plans to showcase more use cases by the end of 2024 [21][22]