Q1 2026 Tuya Inc Earnings Call Transcript
Key Points
- Total revenue increased by 8.3% year over year, showing consistent growth momentum.
- Gross margin remained healthy, reflecting enhanced product value proposition and platform competitiveness.
- AI-related business demonstrated strong growth, contributing to the company's steady growth trajectory.
- Operating margin improved significantly, with GAAP operating margin reaching 9.2% and non-GAAP operating margin at 10%.
- Net profit reached USD15.8 million, driven by gross profit growth and lower share-based compensation expenses.
- Smart Home and Robot Product segment experienced a year-over-year revenue decrease of approximately 6.9%.
- The company faces ongoing uncertainties in the external environment, including geopolitical and macroeconomic challenges.
- Fluctuations in the product mix and upstream cost variations caused slight year-over-year gross margin fluctuations.
- The company is dealing with chipset shortages, which could impact cost and pricing strategies.
- AI application segment's gross margin declined by 2.7 percentage points year over year in the first quarter.
Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Tuya Inc.âs first quarter 2026 earnings conference call. At this time, all participants are in listen-only mode. After the speakerâs presentation, there will be a question-and-answer session.
Briefly informed that todayâs conference is being recorded. Iâll now turn the call over to the first speaker today, Ms. Regina Wang, Investor Relations Associate Director of Tuya. Please go ahead.
Thank you. Hi, Yang. Hello, everyone. To our first quarter 2026 earnings conference call. Joining us today are our Founder and CEO, Mr. Jerry Wang; and our co-Founder and CFO, Mr. Alex Yang. Our results and webcast of the conference call are available at ir.tuya.com.
A replay of this call will also be available on our IR website in a few hours. Before we continue, Iâd like to refer you to our safe harbor statement in our earnings press release, which applies to this call as we will make forward-looking
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