Tuya (TUYA) has released an update.
Tuya Inc., a global cloud platform service provider, has reported a significant year-over-year revenue increase to $61.7 million in the first quarter of 2024, with notable growth in its IoT platform-as-a-service and smart solution segments. The company has also seen substantial improvements in gross and net margins, and has achieved non-GAAP profitability, indicating a robust financial performance that exceeded market expectations.
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