Tuya Inc. headline

Core Insights - The company reported a net loss of $10,816 thousand for the three months ended December 31, 2023, compared to a profit of$9,785 thousand for the same period in 2024, indicating a significant turnaround in financial performance [3] - Non-GAAP net profit for the three months ended December 31, 2023, was $12,555 thousand, which increased to$22,068 thousand in 2024, reflecting a strong growth trajectory [4] - The non-GAAP net margin improved from 19.5% in 2023 to 26.9% in 2024, showcasing enhanced operational efficiency [4] Financial Performance - The net margin for the three months ended December 31, 2023, was -16.8%, while it improved to 11.9% in 2024 [3] - For the year ended December 31, 2023, the company experienced a net loss of $60,315 thousand, which turned into a profit of$4,997 thousand in 2024 [3] - The weighted average number of ordinary shares used for computing non-GAAP net profit per share increased from 557,103,923 in 2023 to 587,987,654 in 2024 for basic shares [5] Shareholder Metrics - Non-GAAP net profit per share attributable to ordinary shareholders was $0.02 for basic shares in 2023, increasing to$0.04 in 2024, and for diluted shares, it remained at $0.02 in 2023 and increased to$0.04 in 2024 [7] - For the year ended December 31, 2023, the non-GAAP net profit per share was $0.04 for basic shares and$0.03 for diluted shares, which rose to $0.13 for both categories in 2024 [7]