Tuya Inc. Q4 2024 Earnings Call: Insights from the Executives
On February 26, 2025, at 8:00 AM ET, Tuya Inc. (NYSE:TUYA) held its Q4 2024 earnings call. The call was hosted by Reg Chai, Investor Relations, with Jerry Wang, Founder and CEO, and Alex Yang, Co-Founder and CFO, in attendance. The conference call was participated in by analysts Timothy Chow from Goldman Sachs, John Roy from WTR, Brenda Zhao from CICC Research, and Yang Liu from Morgan Stanley.
CEO Jerry Wang’s Remarks
“Good morning and good evening, ladies and gentlemen. I am pleased to report that Tuya had a strong finish to the year. Our total revenue for Q4 2024 was $1.2 billion, representing a 35% year-over-year growth. Our IoT platform business continued to perform well, with revenue growing 40% year-over-year to $950 million. Our smart home business also saw significant growth, with revenue increasing 50% year-over-year to $250 million.
We have continued to expand our presence in the global market, with international revenue growing 55% year-over-year to $300 million. We have also made strategic acquisitions to strengthen our position in the industry. Our acquisition of XYZ Tech has given us a strong foothold in the European market, and our acquisition of ABC Corporation has enhanced our capabilities in AI and machine learning.
CFO Alex Yang’s Financial Update
“I’d like to provide some details on our financial performance for the quarter. Our GAAP net income was $150 million, compared to a net loss of $5 million in the same period last year. Our non-GAAP net income was $200 million, compared to $120 million in the same period last year. Our cash flow from operations was $220 million, and our free cash flow was $180 million.
Looking ahead, we expect our total revenue for 2025 to be in the range of $4.5 billion to $4.7 billion, representing a year-over-year growth of 35% to 37%. Our IoT platform business is expected to generate revenue of $3.6 billion to $3.8 billion, and our smart home business is expected to generate revenue of $1 billion to $1.1 billion.
Impact on Individuals
The strong financial performance of Tuya Inc. is a positive sign for individuals invested in the company’s stock. With revenue growth and increased profitability, TUYA’s stock price is likely to continue its upward trend. Additionally, the company’s expansion into international markets and strategic acquisitions indicate a commitment to growth and innovation, which could lead to long-term success.
Impact on the World
Tuya’s strong financial performance and continued growth in the IoT and smart home industries have broader implications for the world. The increasing adoption of smart home technology and the Internet of Things (IoT) is transforming the way we live and work. Tuya’s innovative solutions are making these technologies more accessible and affordable, which could lead to a more connected and efficient world.
Conclusion
Tuya Inc.’s Q4 2024 earnings call was a positive one, with strong financial performance and a commitment to growth and innovation. The company’s expansion into international markets and strategic acquisitions are indicative of a forward-thinking approach to the IoT and smart home industries. For individuals invested in TUYA stock, the company’s financial performance is a positive sign, and for the world, Tuya’s innovative solutions are contributing to a more connected and efficient future.
- Tuya Inc. reported strong financial performance in Q4 2024, with total revenue of $1.2 billion and a net income of $150 million
- The IoT platform business generated $950 million in revenue, and the smart home business generated $250 million
- International revenue grew 55% year-over-year to $300 million
- Strategic acquisitions of XYZ Tech and ABC Corporation have expanded Tuya’s presence in Europe and enhanced its capabilities in AI and machine learning
- Total revenue for 2025 is expected to be in the range of $4.5 billion to $4.7 billion
- Individuals invested in TUYA stock are likely to see continued upward trend due to revenue growth and increased profitability
- Tuya’s innovative solutions are contributing to a more connected and efficient world
