Tuya reports 48% increase in quarterly profit to $18.6 million

Tuya Inc., an AI cloud platform service provider, reported its unaudited financial results for the second quarter ended June 30, 2026. The company saw a 48% increase in quarterly net profit, reaching $18.6 million compared to $12.6 million in the same period the previous year.

Total revenue for the quarter rose approximately 16% year-over-year to $92.9 million. Key revenue drivers included Platform-as-a-Service (PaaS), which grew 16.9% to $67.9 million, and smart home and robot products, which saw a 23.2% increase to $13.5 million. The company's operating margin improved to 10.0%, up from 1.4% in the second quarter of 2025.

On the stock market, Tuya reported earnings per share (EPS) of $0.03, meeting consensus estimates. Despite the profit growth, shares traded down approximately 1.9% during Monday's trading session. The company maintains a significant cash position, with total cash and cash equivalents, time deposits, and treasury securities recorded at $976.1 million as of June 30, 2026.