Tuya reports Q3 non-GAAP EPS 4c vs. 2c last year

Reports Q3 revenue $81.6M vs. $61.1M last year. Xueji Wang, Founder and CEO of Tuya (TUYA), commented, “I’m pleased that in the Q3, we delivered robust financial performance across all our business segments, featuring high growth, stable margins and tight operating budget control. These solid results reaffirm our position as a growing and profitable smart cloud platform leader with a clear strategy and strong execution capabilities. Our performance was driven by robust demand from existing customers, as reflected in a Dollar-Based Net Expansion Rate of 124%. We also strengthened global partnerships, particularly in Europe and emerging markets, and expanded our developer community to 1.26 million registered developers. Looking ahead, we remain focused on empowering developers and delivering innovative solutions to meet the growing demand for smart products.”