Trade Tuya Inc. - TUYA CFD

Tuya Inc. Company profile

About Tuya Inc (ADR)

Tuya Inc is a holding company mainly engaged in the provision of an Internet of things (IoT) cloud platform. This platform delivers Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS). Its IoT PaaS offering enables businesses and developers to develop, launch, manage and monetize software-enabled devices and services. Its Industry SaaS offering enables businesses to deploy, connect, and manage smart devices. For example, Its Smart Hotel SaaS solution allows hotel managers to monitor from a single control point different aspects of hotel services, such as housekeeping, guest traffic control, property surveillance and maintenance. It also offers cloud-based value-added services. Its multi-cloud platform allows customers to switch among cloud infrastructure providers and integrates third-party technologies to make smart devices more intelligent. Its products are used in the field like smart home, smart business, healthcare, education and agriculture.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Tuya Inc (ADR) revenues increased 68% to $302.1M. Net loss increased from $66.9M to $175.4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Foreign exchange loss, net increase from $80K to $618K (expense). Basic Earnings per Share excluding Extraordinary Items decreased from -$0.12 to -$0.36.