FINANCE NOTE

Tuya (NYSE: TUYA) — Q2 2026 Pre Earnings

Operations

Q1 2026
Q1 Revenue ↑ 8.3% YoY $80.9M
Segments
PaaS 73.0%
AI application & others 14.4%
Smart Home & Robot Products 12.6%

Key Earnings Driver

AI Application & Others AI application & others revenue increased 16.9% year over year to $11.6 million in Q1, primarily driven by higher cloud based services revenue. The company stated that it remained committed to offering recurring value-added services with AI application functions during the quarter. PaaS revenue increased 9.8% to $59.0M. Smart Home & Robot Products revenue declined 6.9% to $10.2 million as management proactively phased out relatively low-value hardware products.

Key Operating Metrics¹

METRIC

STATUS

PaaS↑ 9.8%

AI application & others↑ 16.9%

🟢 Scaling

Smart Home & Robot Products↓ 6.9%

🟠 Transition phase

Key Financial Metrics

Gross Margin 46.90% -1.6 pp YoY
Backlog / Revenue N/A
CapEx Intensity N/A

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from Tuya website and/or SEC filings for Q1, with status based on reported data.