Aug. 27 at 3:39 PM
Tuya Smart (NYSE: TUYA) reported another solid 2Q25, showing resilience despite global trade headwinds.
🔹 Revenue
$80.1M, up 9% YoY; PaaS revenue +7% YoY to
$58.1M
🔹 Gross margin 48.4%, +40 bps YoY; non-GAAP profit margin >25%
🔹 Strong net cash position:
$1.0B+ cash & no debt
🔹 Trades at steep discount to comps (EV/S 1.9x vs peers 8.7x)
CEO Jerry Wang: “Amid global uncertainty, Tuya maintained resilient profitability and solid business growth in 1H25.” Follow along with John Roy, Ph.D. for more!
https://www.watertowerresearch.com/doc?docID=UR_TUYA_08252025
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