TUYA Tuya Inc.
Price Chart
Executive Summary
Tuya reported Q1 2026 revenue of $80.9M (+8.3% YoY) and GAAP net profit of $15.8M (+43.2% YoY), but non-GAAP net profit declined to $16.4M from $19.3M, gross margin fell 160bps to 46.9%, and operating cash flow dropped to $6.4M from $9.4M. Continued revenue growth and GAAP profitability improvement are offset by margin compression and lower non-GAAP earnings, making the outlook mixed.
Actionable Insight
The mixed results with margin pressure and declining non-GAAP profit suggest cautious positioning. Monitor the earnings call for guidance on margin trends and tariff impacts. The stock may be range-bound until clearer signs of margin stabilization emerge.
Key Facts
- Total revenue increased 8.3% YoY to $80.9 million.
- GAAP net profit rose 43.2% to $15.8 million; non-GAAP net profit fell to $16.4 million from $19.3 million.
- Gross margin contracted to 46.9% from 48.5%.
- Operating cash flow decreased to $6.4 million from $9.4 million.
- PaaS revenue grew 9.8% to $59.0 million, AI application & others up 16.9%, smart home & robot products down 6.9%.
- Cash and investments remained steady at $1.017 billion.
Financial Impact
Revenue growth of $6.2M YoY, but non-GAAP net profit declined by $2.9M.
Risk Factors
- Further gross margin compression from semiconductor costs and tariff headwinds.
- Declining non-GAAP profitability may disappoint growth investors.
- Slowing cash flow generation could limit reinvestment capacity.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-058755 |
| Document: tm2614201d1_6k.htm | 0001104659-26-058755 |
| Document: tm2614201d1_ex99-2.htm | 0001104659-26-058755 |
| Document: 0001104659-26-058755-index-headers.html | 0001104659-26-058755 |
| Document: 0001104659-26-058755-index.html | 0001104659-26-058755 |
| Document: 0001104659-26-058755.txt | 0001104659-26-058755 |
Track record builds as more directional reports settle.
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Jun 4, 2026
10d ago
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6-K
| $2.01 $1.95 | ▼ −2.99% | ▼ −0.39% | $2.01 (−0.00%) |
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May 11, 2026
4w ago
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6-K
| $2.36 $2.36 | · 0.00% | ▼ −0.54% | $2.01 (−14.83%) |
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May 6, 2026
5w ago
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6-K
| $2.40 $2.40 | · 0.00% | ▲ +0.33% | $2.01 (−16.25%) |
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Apr 27, 2026
6w ago
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6-K
| $2.35 $2.28 | ▼ −2.98% | ▼ −2.49% | $2.01 (−14.47%) |
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Apr 22, 2026
7w ago
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6-K
| $2.40 $2.30 | ▼ −4.17% | ▼ −3.77% | $2.01 (−16.25%) |
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Apr 22, 2026
7w ago
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20-F
| $2.40 $2.30 | ▼ −4.17% | ▼ −3.77% | $2.01 (−16.25%) |
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Apr 8, 2026
9w ago
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6-K
| $2.39 $2.39 | · 0.00% | ▼ −0.57% | $2.01 (−15.90%) |
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Mar 27, 2026
11w ago
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6-K
| $2.33 $2.28 | ▼ −2.15% | ▼ −1.79% | $2.01 (−13.73%) |
US Market Status
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