Want to see TUYA full AI Analyst Report?
Top Page
Tuya
(NYSE:TUYA)
Select Model
Select Model
Rating:78Outperform
Price Target:
$2.00
▲(11.73% Upside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by strengthened financial performance—especially a very conservative balance sheet and improved profitability—supported by reasonable valuation and a high dividend yield. Technicals are moderately supportive in the near term but still challenged versus longer-term averages, while the earnings call adds a positive bias from accelerating revenue and operating discipline, tempered by margin/mix volatility and slower AI application growth.
Positive Factors
PaaS adoption and ecosystem scale
Strong PaaS growth and a sizable premium-customer base indicate continued platform adoption and recurring usage potential. This supports Tuya’s core service model, broadens its installed ecosystem, and creates a foundation for cross-selling higher-value tools as customers scale connected devices.
Negative Factors
AI application growth is decelerating
Slower AI application growth weakens an important avenue for expanding Tuya’s higher-value software mix. The shift toward lower-growth, project-driven B2B work may delay recurring subscription benefits and make near-term monetization less predictable despite continued AI investment.
Read all positive and negative factors
Positive Factors
Negative Factors
PaaS adoption and ecosystem scale
Strong PaaS growth and a sizable premium-customer base indicate continued platform adoption and recurring usage potential. This supports Tuya’s core service model, broadens its installed ecosystem, and creates a foundation for cross-selling higher-value tools as customers scale connected devices.
Read all positive factors
Tuya (TUYA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.00B
Dividend Yield6.66%
Average Volume (3M)580.81K
Price to Earnings (P/E)12.5
Beta (1Y)1.10
Revenue Growth7.02%
EPS Growth131.61%
CountryUS
Employees1,453
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.14
Shares Outstanding543,239,440
10 Day Avg. Volume259,470
30 Day Avg. Volume580,811
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.26
Price to Sales (P/S)4.00
P/FCF Ratio17.46
Enterprise Value/Market Cap0.11
Enterprise Value/Revenue0.27
Enterprise Value/Gross Profit0.57
Enterprise Value/Ebitda1.25
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.13
Revenue Forecast (FY)$364.46M
Tuya Business Overview & Revenue Model
Company Description
Tuya Inc. operates a global cloud platform for the Internet of Things (IoT), providing comprehensive solutions to facilitate smart technology integration. The company delivers an IoT Platform-as-a-Service (PaaS), empowering brands, original equipm...
How the Company Makes Money
Tuya primarily makes money by providing IoT platform services to customers that want to bring smart devices to market and operate them at scale. Its revenue model is mainly service-based: (1) IoT PaaS revenue: Tuya charges customers for the use of...
Tuya Earnings Call Summary
Earnings Call Date:Aug 24, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 23, 2026
Earnings Call Sentiment Positive
The call presents a generally positive operational and financial picture: revenue growth accelerated with strong PaaS and smart home/robot product performance, improved operating profitability, healthy cash reserves, and clear AI product and developer progress (CoBuilder and AI companion devices). However, notable headwinds include slower growth and margin pressure in the AI application segment, supply-chain semiconductor cost volatility compressing margins, mixed demand across product categories and regions, and non-operating losses (FX and lower financial income). On balance, the positive growth, margin stability at the operating level, strong balance sheet and tangible AI commercialization progress outweigh the mid-term margin and mix challenges.Positive Updates
Revenue Growth Acceleration
Total revenue reached $92.9M, up 16% year-over-year, accelerating from 8.3% growth in Q1 2026.
Negative Updates
AI Application Growth Deceleration
AI application and others revenue was $11.5M, up only 3.9% YoY (a notable slowdown versus prior quarter growth cited at ~17%), reflecting mix shifts toward lower-growth B2B custom projects.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth Acceleration
Total revenue reached $92.9M, up 16% year-over-year, accelerating from 8.3% growth in Q1 2026.
Read all positive updates
Company Guidance
Management guided continued focus on AI-native applications, developer tools and global solution expansion while outlining operating expectations and targets: Q2 results they referenced included total revenue of $92.9M (+16% YoY, up from Q1’s 8.3%); PaaS revenue $67.9M (+16.9%) with 318 trailing‑12‑month premium customers contributing ~89.5% of PaaS revenue; AI application & others $11.5M (+3.9%); smart home & robot $13.5M (+23.2%); registered developers >2.09M; Tuya CoBuilder covering 30 product categories with ~190s average panel generation time. Financials/targets called out: blended gross margin 46.3% (PaaS 46.8%, AI apps 72%, products 21.9%), gross profit ~$43M (+11.1%), GAAP OPEX ~$33.7M (-10.4%), GAAP operating profit $9.3M (10% margin), non‑GAAP operating profit $9.6M (10.3%), net profit ~$18.6M (non‑GAAP $18.9M), operating cash flow $6.2M, and ~ $976M in liquid assets; management expects upstream semiconductor cost volatility to normalize over the next 2–3 quarters, gross‑margin stabilization, and plans to push cloud‑based AI application margins toward ~75–80% while scaling AI home, AI energy and AI robot scenarios and developer tooling.Tuya Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 422.39M | 322.64M | 298.62M | 229.99M | 208.17M | 302.08M |
| Gross Profit | 199.23M | 155.45M | 141.43M | 106.66M | 89.42M | 127.87M |
| EBITDA | 91.47M | 65.19M | 12.21M | -50.52M | -136.09M | -164.58M |
| Net Income | 84.60M | 58.04M | 5.00M | -60.31M | -146.18M | -175.42M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 1.13B | 1.10B | 1.07B | 1.06B | 1.25B |
| Cash, Cash Equivalents and Short-Term Investments | 979.92M | 952.48M | 847.87M | 789.71M | 954.29M | 1.07B |
| Total Debt | 9.32M | 5.31M | 4.65M | 7.79M | 9.14M | 21.75M |
| Total Liabilities | 137.96M | 109.91M | 96.33M | 95.83M | 93.97M | 134.49M |
| Stockholders Equity | 1.03B | 1.02B | 1.01B | 970.57M | 962.17M | 1.11B |
Cash Flow | ||||||
| Free Cash Flow | 58.93M | 73.90M | 76.21M | 34.91M | -71.36M | -132.30M |
| Operating Cash Flow | 66.07M | 81.04M | 80.39M | 36.41M | -70.65M | -126.10M |
| Investing Cash Flow | 152.73M | 225.98M | 107.48M | 332.17M | -714.23M | -112.96M |
| Financing Cash Flow | -71.66M | -69.87M | -33.22M | -2.22M | -38.58M | 1.04B |
Tuya Technical Analysis
Negative
1.79
Price Trends
1.77
Negative
1.83
Negative
2.05
Negative
Market Momentum
-0.02
Negative
47.40
Neutral
64.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TUYA, the sentiment is Negative. The current price of 1.79 is above the 20-day moving average (MA) of 1.72, above the 50-day MA of 1.77, and below the 200-day MA of 2.05, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 47.40 is Neutral, neither overbought nor oversold. The STOCH value of 64.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TUYA.
Tuya Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.97T | 29.73 | 33.22% | 0.68% | 17.79% | 31.42% | |
78 Outperform | $1.00B | 12.49 | 8.34% | 6.66% | 7.02% | 131.61% | |
77 Outperform | $24.33B | 257.12 | 6.21% | ― | 29.50% | ― | |
74 Outperform | $6.33B | 13.94 | 13.45% | 3.80% | 0.15% | -15.59% | |
66 Neutral | $128.52B | -619.10 | -13.86% | ― | 33.53% | -72.17% | |
65 Neutral | $427.56B | 21.84 | 42.58% | 1.41% | 21.62% | 45.95% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
TUYA
Tuya
1.72
-0.70
-28.84%
DOX
Amdocs
58.75
-19.78
-25.19%
MSFT
Microsoft
541.15
31.29
6.14%
ORCL
Oracle
137.39
-166.55
-54.80%
NET
Cloudflare
360.93
138.37
62.17%
IOT
Samsara
41.55
3.99
10.62%
Tuya Corporate Events
Tuya Reports September Share Movements and Confirms Hong Kong Float Compliance
Oct 5, 2026
Tuya Inc., a Cayman Islands-incorporated Internet of Things platform provider based in Hangzhou and listed in Hong Kong with weighted voting right shares, relies on equity incentive schemes to reward and retain employees and executives. Its capita...
Tuya Files 2026 Interim Report with U.S. SEC as Hong Kong-Listed Issuer
Sep 23, 2026
Tuya Inc. reported that, as a company listed on the Hong Kong Stock Exchange, it is required to prepare an interim report for the first six months of each fiscal year under local listing rules. On September 23, 2026, the company furnished its inte...
Tuya Reports Stable Share Capital and Public Float in August 2026 Hong Kong Filing
Sep 4, 2026
On September 4, 2026, Tuya Inc. reported to the U.S. Securities and Exchange Commission that it had submitted a monthly return to the Hong Kong Stock Exchange covering movements in its authorised share capital and issued shares for August 2026. Th...
Tuya Resubmits July 2026 Hong Kong Share Capital Return With No Change in Issued Shares
Aug 7, 2026
Tuya Inc. reported to the U.S. Securities and Exchange Commission on August 7, 2026 that it had filed a revised monthly return with the Hong Kong Stock Exchange covering share capital movements for July 2026. The resubmitted Hong Kong filing, date...
Tuya Inc. Reports Stable Share Capital and Compliance in July 2026 Hong Kong Filing
Aug 5, 2026
On August 5, 2026, Tuya Inc. filed a Form 6-K with the U.S. Securities and Exchange Commission and submitted its monthly return for the period ended July 31, 2026 to the Hong Kong Stock Exchange, detailing movements in its share capital and confir...
Tuya Reports No Share Count Changes in June 2026 Hong Kong Filing
Jul 10, 2026
Tuya Inc., a Cayman Islands–incorporated issuer controlled through weighted voting rights and headquartered in Hangzhou, China, maintains a dual-class structure of Class A and Class B ordinary shares listed and regulated in Hong Kong. Its au...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.