Tuya reports Q4 EPS 2c vs. (2c) last year

Reports Q4 revenue $82.1M vs. $64.4M last year. Xueji Wang, Founder and CEO of Tuya (TUYA), commented, “In 2024, we achieved significant financial and business milestones, successfully reaching three key targets: quarterly non-GAAP operating profitability, full-year non-GAAP operating profitability, and full- year GAAP profitability. These accomplishments further validate the strength of our business model. We remain committed to continuously upgrading Tuya’s unique platform-driven business model, empowering developer customers with increasingly competitive smart hardware products. This enables our customers to expand their competitiveness beyond Powered-by-Tuya software capabilities into supply chain and hardware advantages. Looking ahead, AI innovation presents a tremendous opportunity, introducing a new paradigm in smart device interactions. It enhances user experiences by enabling smarter devices and optimized usage strategies tailored to personalized and differentiated needs. We will continue to build a global developer ecosystem, drive advancements in AI Devices and AI applications, and pursue product and capability innovation in high-potential market segments. At the same time, we will further expand our global market presence and remain committed to delivering long-term value to our shareholders.”