loss attributable to 
 Tuya Inc.                  (5,562)      (1,469)     (48,413)          (3,116) 
                        ===========  ===========  ===========  =============== 
 
 
 
                                  TUYA INC. 
                UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF 
                        COMPREHENSIVE LOSS (CONTINUED) 
                 (All amounts in US$ thousands ((") US$(") ), 
         except for share and per share data, unless otherwise noted) 
 
                          For the Three Months 
                                 Ended             For the Nine Months Ended 
                         September    September    September    September 30, 
                         30, 2023     30, 2024     30, 2023          2024 
 
Net loss attributable 
 to Tuya Inc.               (4,905)      (4,373)     (49,499)          (4,788) 
                        -----------  -----------  -----------  --------------- 
Net loss attributable 
 to ordinary 
 shareholders               (4,905)      (4,373)     (49,499)          (4,788) 
                        ===========  ===========  ===========  =============== 
 
Weighted average 
 number of ordinary 
 shares used in 
   computing net loss 
 per share, basic and 
 diluted                555,782,518  569,821,232  554,914,108      562,913,590 
Net loss per share 
 attributable to 
   ordinary 
 shareholders, basic 
 and diluted                 (0.01)       (0.01)       (0.09)           (0.01) 
Share-based 
 compensation expenses 
 were included in: 
 Research and 
 development expenses         3,165        4,978       11,288           11,860 
Sales and marketing 
 expenses                       758        1,675        3,984            4,229 
General and 
 administrative 
 expenses                    11,025       17,663       34,008           39,450 
 
 
 
                                  TUYA INC. 
           UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
                 (All amounts in US$ thousands ((") US$(") ), 
         except for share and per share data, unless otherwise noted) 
 
                          For the Three Months 
                                 Ended             For the Nine Months Ended 
                         September    September    September    September 30, 
                         30, 2023     30, 2024     30, 2023         2024 
 
Net cash generated 
 from operating 
 activities                  16,070       23,851        4,683           50,170 
Net cash generated 
 from/(used in) 
 investing activities        55,027     (28,213)       32,692           61,872 
Net cash used in 
 financing activities         (318)        (328)      (2,385)            (178) 
Effect of exchange 
 rate changes on cash 
 and cash 
   equivalents, 
 restricted cash                953          826      (1,877)              503 
                        -----------  -----------  -----------  --------------- 
Net 
 increase/(decrease) 
 in cash and cash 
 equivalents, 
   restricted cash           71,732      (3,864)       33,113          112,367 
                        -----------  -----------  -----------  --------------- 
Cash and cash 
 equivalents, 
 restricted cash at 
 the   beginning of 
 period                      94,542      614,919      133,161          498,688 
                        -----------  -----------  -----------  --------------- 
Cash and cash 
 equivalents, 
 restricted cash   at 
 the end of period          166,274      611,055      166,274          611,055 
                        ===========  ===========  ===========  =============== 
 
 
 
                                  TUYA INC. 
      UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY 
                         COMPARABLE FINANCIAL MEASURES 
                 (All amounts in US$ thousands ((") US$(") ), 
         except for share and per share data, unless otherwise noted) 
 
                          For the Three Months 
                                 Ended             For the Nine Months Ended 
                         September    September    September    September 30, 
                         30, 2023     30, 2024     30, 2023          2024 
Reconciliation of 
operating expenses to 
non-GAAP     operating 
expenses 
 
Research and 
 development expenses      (24,946)     (24,877)     (79,471)         (71,344) 
Add: Share-based 
 compensation 
 expenses                     3,165        4,978       11,288           11,860 
Adjusted Research and 
 development expenses      (21,781)     (19,899)     (68,183)         (59,484) 
                        -----------  -----------  -----------  --------------- 
 
Sales and marketing 
 expenses                   (9,418)      (9,663)     (29,503)         (28,033) 
Add: Share-based 
 compensation 
 expenses                       758        1,675        3,984            4,229 
Adjusted Sales and 
 marketing expenses         (8,660)      (7,988)     (25,519)         (23,804) 
                        -----------  -----------  -----------  --------------- 
 
General and 
 administrative 
 expenses                  (15,843)     (22,301)     (56,909)         (54,636) 
Add: Share-based 
 compensation 
 expenses                    11,025       17,663       34,008           39,450 
Add: Credit-related 
 impairment of 
 long-term 
 investments                     52           --        8,102              189 
Add: Litigation costs            --          200           --            2,300 
Adjusted General and 
 administrative 
 expenses                   (4,766)      (4,438)     (14,799)         (12,697) 
                        -----------  -----------  -----------  --------------- 
 
Reconciliation of loss 
from operations to 
non-GAAP 
  (loss)/profit from 
operations 
Loss from operations       (18,487)     (17,113)     (82,200)         (43,824) 
Add: Share-based 
 compensation 
 expenses                    14,948       24,316       49,280           55,539 
Add: Credit-related 
 impairment of 
 long-term 
 investments                     52           --        8,102              189 
Add: Litigation costs            --          200           --            2,300 
Non-GAAP (loss)/profit 
 from operations            (3,487)        7,403     (24,818)           14,204 
 
Non-GAAP Operating 
 margin                     (5.7) %        9.1 %     (15.0) %            6.6 % 
 
                          For the Three Months 
                                 Ended             For the Nine Months Ended 
                         September    September    September    September 30, 
                         30, 2023     30, 2024     30, 2023          2024 
Reconciliation of net 
loss to non-GAAP   net 
profit 
 
Net loss                    (4,905)      (4,373)     (49,499)          (4,788) 
Add: Share-based 
 compensation 
 expenses                    14,948       24,316       49,280           55,539 
Add: Credit-related 
 impairment of 
 long-term 
 investments                     52           --        8,102              189 
Add: Litigation costs            --          200           --            2,300 
Non-GAAP Net profit          10,095       20,143        7,883           53,240 
                        -----------  -----------  -----------  --------------- 
 
Non-GAAP Net margin          16.5 %       24.7 %        4.8 %           24.6 % 
                        -----------  -----------  -----------  --------------- 
Weighted average 
number of ordinary 
shares used in 
  computing non-GAAP 
net profit per share 
 -- Basic               555,782,518  569,821,232  554,914,108      562,913,590 
                        -----------  -----------  -----------  --------------- 
-- Diluted              586,434,725  571,386,571  586,533,052      585,311,819 
                        -----------  -----------  -----------  --------------- 
 
Non-GAAP net profit 
per share attributable 
  to ordinary 
shareholders 
-- Basic                       0.02         0.04         0.01             0.09 
                        -----------  -----------  -----------  --------------- 
-- Diluted                     0.02         0.04         0.01             0.09 
                        -----------  -----------  -----------  --------------- 
 

View original content:https://www.prnewswire.com/news-releases/tuya-reports-third-quarter-2024-unaudited-financial-results-302308881.html

SOURCE Tuya Inc.

(END) Dow Jones Newswires

November 18, 2024 16:05 ET (21:05 GMT)