Q2 2025 Tuya Inc Earnings Call Transcript
Key Points
- Tuya Inc (TUYA) achieved a 9.3% year-over-year revenue growth in the second quarter of 2025, reaching approximately USD80.1 million.
- The company maintained a strong blended gross margin of around 48% for both the second quarter and the first half of 2025.
- Non-GAAP operating profit grew approximately 127% year over year, demonstrating significant operating leverage.
- Tuya Inc (TUYA) has a robust AI developer ecosystem, with over 1.51 million global developers on its platform.
- The company declared a cash dividend totaling about USD33 million, reflecting its commitment to returning value to shareholders.
- Global trade uncertainties, particularly US tariff policies, have disrupted the consumer electronics industry, affecting Tuya Inc (TUYA)'s downstream retail channels.
- The company faces pressure from shifting supply chains due to tariffs, impacting logistics and potentially increasing costs.
- Smart Solutions gross margin was relatively lower at 22.5% in the second quarter, compared to previous quarters.
- The ongoing global trade environment and tariff uncertainties continue to pose challenges for Tuya Inc (TUYA)'s growth outlook.
- The company is experiencing pressure from currency fluctuations, although it is currently under control.
Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Tuya Inc.'s second quarter 2025 earnings conference call.
(Operator Instructions)
As a reminder, we are recording today's call. If you have any objections, you may disconnect at any time. I will now like to turn the call over to Ms. Regina Wang, Investor Relations Senior Manager of Tuya. Reg, please go ahead.
Thank you, operator. Hello, everyone. Welcome to our second quarter 2021 earnings call. Joining us today are our founder and the CEO of Tuya, Mr. Jerry Wang, our Co-Founder and CFO, Mr. Alex Yang.
The second quarter 2025 financial 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, I refer you to our safe harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements.
With that, I will now turn
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