SANTA CLARA, Calif., Nov. 5, 2024 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, today announced that it will report its third quarter 2024 unaudited financial results after the market closes on Monday, November 18, 2024.Tuya's management will hold a conference call at 07:30 P.M. Eastern Time on Monday, November 18, 2024 (08:30 A.M. Hong Kong Time on Tuesday, November 19, 2024) to discuss the financial results. In advance of th ...

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The shares of several Chinese technology companies experienced significant declines. Notably, Tuniu (TOUR, Financial) dropped by nearly 8%, and Tiger Securities (TIGR) saw a decrease of close to 7%. Other companies such as Bilibili (BILI), DouYu (DOYU), and Zeekr fell by over 5%. Additionally, iQIYI (IQ), Weibo (WB), KE Holdings (BEKE), XPeng Motors (XPEV), NIO Inc. (NIO), Pinduoduo (PDD), Miniso Group (MNSO), Futu Holdings (FUTU), and Baidu (BIDU) all experienced declines exceeding 3%.These market moves hi ...

Tuya Inc. Sponsored ADR (TUYA) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate ...

Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Views - The company has shown a significant turnaround in profitability, with adjusted net income reaching $33.1 million in H1 2024, compared to a net loss of $40 million [3][4] - Revenue growth is driven by IoT PaaS and smart solutions, with IoT PaaS revenue growing 33.7% YoY to $99.9 million and smart solutions revenue growing 41.1% YoY to $16.8 million in H1 2024 [3] - The company achieved its first positive adjusted operating profit of $7.4 million in Q2 2024, marking a significant operational inflection point [4] - The company declared its first cash dividend of $0.0589 per ADS, totaling approximately $33 million, reflecting confidence in future growth [6] Financial Performance - H1 2024 revenue reached $135 million, a 29.1% YoY increase, with IoT PaaS contributing 74% of total revenue [3] - Gross margin improved to 47.9% in H1 2024, up 2.3 percentage points YoY, driven by IoT PaaS margin expansion to 47.1% [3] - R&D expenses decreased by 14.8% YoY to $46.5 million, with R&D expense ratio dropping to 34.44% [3] - The company expects revenue to grow to $280 million in 2024, $332 million in 2025, and $389 million in 2026, representing a CAGR of 18.4% [5][6] Business Strategy - The company is focusing on expanding its high-quality customer base, non-consumer electronics sectors, and developer platform, with 1.192 million developers on its platform as of Q2 2024, a 40.8% YoY increase [4] - The company is leveraging generative AI to enhance its IoT offerings, with applications in smart pet cameras, bird feeders, and lighting systems [6] - The company has empowered 1 million AIoT device SKUs as of Q2 2024, reflecting its leadership in the IoT platform space [4] Valuation - The report values the company at a 2024 dynamic PS ratio of 5-6x, with a fair value range of $2.44-$2.93 per share [6] - The company's PS ratio is significantly lower than peers, with a 2024E PS of 3x compared to the peer average of 16x [7] Industry Position - The company is positioned as a leader in the neutral AIoT platform space, with a strong focus on IoT PaaS and smart solutions [1][3] - The company's strategic focus on high-margin IoT PaaS and smart solutions is expected to drive long-term revenue and profit growth [3][4]

Investors might want to bet on Tuya Inc. Sponsored ADR (TUYA) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the ...

Tuya Inc. (NYSE:TUYA) Q2 2024 Results Conference Call August 26, 2024 8:30 PM ET Company Participants Reg Chai - Investor Relations Director Xueji Wang - Founder, Co-Chairman & CEO Yao Liu - Senior VP, CFO & Director Alex Yang - Co-founder, COO & Director Conference Call Participants Yang Liu - Morgan Stanley Timothy Zhao - Goldman Sachs Operator Good day, and thank you for standing by. Welcome to the Tuya Inc. Second Quarter 2024 Earnings Conference Call. [Operator Instructions]. Please be advised, today's ...

Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Tuya Inc. 塗鴉智能* (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability ...

Exhibit 99.1 Tuya Reports First Quarter 2024 Unaudited Financial Results SANTA CLARA, Calif., May, 20, 2024/PRNewswire/– Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights · Total revenue was US61.7 million, up approximately 29.9% year over year (1Q2023: US$47.5 million). · IoT platform-as-a-service ("PaaS") revenue w ...

SANTA CLARA, Calif., Aug. 26, 2024 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, today announced that Ms. Yao (Jessie) Liu has tendered her resignation as a director, the Chief Financial Officer and senior vice president of Tuya, effective September 16, 2024. Ms. Liu has made this decision to devote more time to her personal endeavors.The Company is grateful for the invaluable contributions she made during her more than 5-year ...