Core Insights - Tuya Smart-W (02391.HK) reported a 1.1% year-on-year increase in total revenue for Q3 2025, reaching $82.5 million [1] - The company's PaaS revenue grew by 2.4% year-on-year to $59.2 million, driven by increased demand and strategic focus on customer needs and product enhancements, despite challenges from tariffs affecting the international business environment [1] - SaaS and other revenue saw a significant increase of 15.4% year-on-year to $11.5 million, primarily due to higher income from cloud software products [1] Financial Performance - Overall gross margin improved to 48.3%, up 2.3 percentage points from 46.0% in Q3 2024 [2] - PaaS gross margin rose to 48.8%, an increase of 1.9 percentage points from 46.9% in Q3 2024 [2] - The net profit for Q3 2025 was $15 million, a turnaround from a loss of $4.4 million in the same period last year [2] - Non-GAAP net profit for Q3 2025 remained stable at $20.1 million, consistent with the previous year, showcasing continued profitability and leverage improvement [2] Management Commentary - The CEO highlighted the company's robust execution and operational resilience amid global trade uncertainties, emphasizing stable demand for core PaaS and SaaS products and ongoing product optimization [2] - The CFO noted the solid financial foundation with a gross margin increase and effective cost management, leading to a significant improvement in net profit and a strong cash flow of $30 million for the quarter [2]
涂鸦智能-W(02391.HK)：第三季度总收入同比增加1.1%至8250万美元