Tuya Inc. headline
PR Newswire
SANTA CLARA, Calif., Feb. 26, 2025
SANTA CLARA, Calif., Feb. 26, 2025 /PRNewswire/ --
TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2023 AND 2024
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
As of December 31, As of December 31,
2023 2024
ASSETS
Current assets:
Cash and cash equivalents 498,688 653,334
Restricted cash -- 50
Short-term investments 291,023 194,536
Accounts receivable, net 9,214 7,592
Notes receivable, net 4,955 7,485
Inventories, net 32,865 23,840
Prepayments and other current
assets, net 11,053 16,179
------------------ ------------------
Total current assets 847,798 903,016
------------------ ------------------
Non-current assets:
Property, equipment and software,
net 2,589 6,619
Land use rights, net -- 8,825
Operating lease right-of-use assets,
net 7,647 4,550
Long-term investments 207,489 180,092
Other non-current assets, net 877 678
------------------ ------------------
Total non-current assets 218,602 200,764
------------------ ------------------
Total assets 1,066,400 1,103,780
------------------ ------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable 11,577 19,051
Advances from customers 31,776 31,346
Deferred revenue, current 6,802 7,525
Accruals and other current
liabilities 32,807 32,257
Incomes tax payables 689 360
Lease liabilities, current 3,883 3,798
------------------ ------------------
Total current liabilities 87,534 94,337
------------------ ------------------
Non-current liabilities:
Lease liabilities, non-current 3,904 851
Deferred revenue, non-current 506 377
Other non-current liabilities 3,891 767
------------------ ------------------
Total non-current liabilities 8,301 1,995
------------------ ------------------
Total liabilities 95,835 96,332
------------------ ------------------
TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
AS OF DECEMBER 31, 2023 AND 2024
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
As of December 31, As of December 31,
2023 2024
Shareholders' equity:
Ordinary shares -- --
Class A ordinary shares 25 25
Class B ordinary shares 4 4
Treasury stock (53,630) (15,726)
Additional paid-in capital 1,616,105 1,612,712
Accumulated other comprehensive loss (17,091) (19,716)
Accumulated deficit (574,848) (569,851)
------------------ ------------------
Total shareholders' equity 970,565 1,007,448
------------------ ------------------
Total liabilities and shareholders'
equity 1,066,400 1,103,780
------------------ ------------------
TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
For the Three Months Ended For the Year Ended
December 31, December 31, December 31, December 31,
2023 2024 2023 2024
Revenue 64,411 82,059 229,990 298,617
Cost of revenue (33,948) (42,821) (123,335) (157,187)
------------ ------------- ------------ ------------
Gross profit 30,463 39,238 106,655 141,430
------------ ------------- ------------ ------------
Operating
expenses:
Research and
development
expenses (22,806) (23,705) (102,277) (95,049)
Sales and
marketing
expenses (10,937) (9,048) (40,440) (37,081)
General and
administrative
expenses (23,754) (13,618) (80,663) (68,254)
Other operating
incomes, net 3,410 3,337 10,901 11,334
------------ ------------- ------------ ------------
Total operating
expenses (54,087) (43,034) (212,479) (189,050)
------------ ------------- ------------ ------------
Loss from
operations (23,624) (3,796) (105,824) (47,620)
------------ ------------- ------------ ------------
Other
income/(loss)
Other
non-operating
income, net 778 767 3,113 4,180
Financial
income, net 13,135 12,474 44,976 50,718
Foreign
exchange
gain/(loss),
net 17 864 669 (136)
------------ ------------- ------------ ------------
(Loss)/profit
before income
tax expense (9,694) 10,309 (57,066) 7,142
Income tax
expense (1,122) (524) (3,249) (2,145)
Net
(loss)/profit (10,816) 9,785 (60,315) 4,997
------------ ------------- ------------ ------------
Net
(loss)/profit
attributable
to Tuya Inc. (10,816) 9,785 (60,315) 4,997
------------ ------------- ------------ ------------
Net
(loss)/profit
attribute to
ordinary
shareholders (10,816) 9,785 (60,315) 4,997
------------ ------------- ------------ ------------
Net
(loss)/profit (10,816) 9,785 (60,315) 4,997
------------ ------------- ------------ ------------
Other
comprehensive
(loss)/income
Changes in fair
value of
long-term
investments (5,321) 153 (7,791) 14
Transfer out of
fair value
changes of
long-term
investments 7,487 -- 15,537 65
Foreign
currency
translation 1,772 (4,450) (2,722) (2,574)
------------ ------------- ------------ ------------
Total
comprehensive
(loss)/income
attributable
to Tuya Inc. (6,878) 5,488 (55,291) 2,372
------------ ------------- ------------ ------------
TUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME (CONTINUED)
(All amounts in US$ thousands ("US$"),
except for share and per share data, unless otherwise noted)
For the Three Months Ended For the Year Ended
December 31, December 31, December 31, December 31,
2023 2024 2023 2024
Net
(loss)/profit
attributable
to Tuya Inc. (10,816) 9,785 (60,315) 4,997
------------- ------------
Net
(loss)/profit
attributable
to ordinary
shareholders (10,816) 9,785 (60,315) 4,997
------------- ------------
Weighted
average number
of ordinary
shares used in
computing net
(loss)/profit
per share,
basic and
diluted
-- basic 557,103,923 587,987,654 555,466,061 573,782,783
-- diluted 557,103,923 589,689,036 555,466,061 591,006,801
Net
(loss)/profit
per share
attributable
to
ordinary
shareholders,
basic and
diluted
-- Basic (0.02) 0.02 (0.11) 0.01
(MORE TO FOLLOW) Dow Jones Newswires
February 26, 2025 08:54 ET (13:54 GMT)
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