Tuya, Inc. · NYSE:TUYA
Tuya — Q2 2026 Earnings Presentation
34 slides from Tuya's earnings presentation, 2026
Slide 1: Tuya Smart: The Global Leading AI Cloud Platform Service Provider
NYSE: TUYA / HKEX: 2391.HK TUYA SMART THE GLOBAL LEADING AI CLOUD PLATFORM SERVICE PROVIDER Second Quarter 2026
Slide 2: Build an AI Developer Ecosystem, Enable Everything to Be Smart
Build an AI Developer Ecosystem Enable Everything to Be Smart 1
Slide 3: Company Introduction
Company Introduction
Slide 4: Tuya at a Glance
Tuya at a Glance BUSINESS KEY FINANCIAL METRICS 1 Unique AI Smart Cloud Platform Service Provider Providing Turnkey Solutions Worldwide Period Q2’26 Largest 3rd cloud developer platform globally Revenue Y/Y Growth $92.9 Mn/+16% Limited/Eliminated competition Gross Margin 46% Irreplaceable/High
Slide 5: AI-Driven Global Platform with Expanding Developer Ecosystem
AI-Driven Global Platform with Expanding Developer Ecosystem 2.09+ Million Global AI Developers As of June 30, 2026 5,900+ 70%+ Düsseldorf Europe Global Customers In R&D/Product Team Tokyo Served in The Year 2025 East Asia, North Asia, APAC Hangzhou & Shenzhen China 8 Countries/Regions 200+ Medellín
Slide 6: Our Esteemed Global Customers
Our Esteemed Global Customers 5
Slide 7: Solid Founding Team with Three Successful Entrepreneurial Experiences
Solid Founding Team with Three Successful Entrepreneurial Experiences Jerry Wang Leo Chen Alex Yang Ruixin Zhou Yaona Lin Co-Founder, CEO Co-Founder, President Co-Founder, CFO & COO Co-Founder Co-Founder 2003 2008 2014 The biggest open-source Alibaba Cloud & The largest 3rd-party BBS software in Chi
Slide 8: Ready to Thrive in the Next Era: Bring Intelligence to Physical World
We're Ready to Thrive in the Next Era — Bring Intelligence to Physical World AI Intelligent Era Mobile Internet PC Internet … … AIoT Infrastructure 1×1×N 2×4×N 1×N×N 7
Slide 9: 2 Steps, 3 Business Models to bring AI into Physical World
2 Steps, 3 Business Models to bring AI into Physical World Unified Infrastructure, Open Ecosystem, Scalable AI Applications PaaS Smart Home & Robot Product AI Application & Others AIoT Infrastructure for Device Manufacturers Turnkey AI Device Solutions AI Applications and Recurring Services Device E
Slide 10: Business Growth Driven by AI Applications and Device Penetration
Business Growth Driven by AI Applications and Device Penetration Our Growth Strategies • Value. Increase revenue per device through higher-value AI hardware solutions and integrated product capabilities. • Volume. Expand device penetration by acquiring new customers and helping existing customers la
Slide 11: Integrating Technology, Supply Chain and Channels to Deliver AI Value
Integrating Technology, Supply Chain and Channels to Deliver AI Value 2. OEM/ODM • Improve R&D efficiency 3. Brands/Importers • Lower AI hardware development barriers • Neutral platform independent of • Accelerate product innovation single hardware vendors • Unified user system • Flexible developmen
Slide 12: Our Agnostic, Agile, Open Architecture
Our Agnostic, Agile, Open Architecture Agnostic • Cloud • AI LLMs • Edge : connectivity protocols, OS Agile & Flexible • Turnkey • SDK/API kit • Unified framework • Reference design Open • Open APIs • Open-Source Project 13
Slide 13: AI Device Architecture
Pc/Web/Pan-terninal Tuya API Pan-terminal. SOK (Pending Launch) Client-side App Tuys App. Al Device Architecture ‘Sk Intelligent Hardware Toya0s: kong AT SOK Tuya 6tobat Feat-tine At mteimodat vodels & Cloud Agent Development rua AT PeeS Services & Enterprise Tone bata Preprocessing Service plecform
Slide 14: Integrate A Diverse Hardware Ecosystem into A Unified User Portal
Integrate A Diverse Hardware Ecosystem into A Unified User Portal Massive Array of Categories Powered by Tuya Note: Categories selected and graphics for illustrative purpose only. 15
Slide 15: One App One Smart Home Smart Energy Saving Application Case
My Home My Home My Home One App Smart Energy Saving Application Case One Smart Home based on Tuya Ecosystem 16
Slide 16: One App User Experience + Large Customer Base = Network Effects
One App User Experience + Large Customer Base = Network Effects Various Smart Scenes Freely Composed by PBT Devices … … Better User Higher PBT Experience & Brands Sales More User Purchase Brand B … End User Larger PBT Market Share & More Brands More Products Join Tuya Developed Powered by Tuya ("PBT
Slide 17: Full Stack AIoT Platform Offering Brings Strategic Depth
Full Stack AIoT Platform Offering Brings Strategic Depth Technology Product Business Model Full-stack Cloud & LLM Stability at Compliance Open-source Cloud – Device Edge App / Voice / AI Smart Neutral Unified User Scalability & Go-to-Market Cost AIoT Agnostic Massive Scale & Security & Developer Thi
Slide 18: Our Global Partnership Footprint
Our Global Partnership Footprint Marketing Events and Direct Partnerships Cover 40+ Major Countries 19
Slide 19: Best Practice and Industry Leaders in Global AIoT Security Compliance
ChaitinCybersecurity Red Team/ Blue Team Exercise Report Tuya as Best Practice and Industry Leaders in Global AIoT Security Compliance NLD US GER US CN IN Global Data Centers 20
Slide 20: Financial Updates
Financial Updates
Slide 21: Strong Growth and Continued Profitability in Q2'26
Strong Growth and Continued Profitability in Q2’26 The Second Quarter, 2026 $92.9Mn +16% Q2’25 : $80.1Mn Total Revenue Total Revenue YoY Growth $9.6 10 $9.3 10 $19Mn Mn, % Mn, % 20% Q2’25 : $13Mn Q2’25 : 16% Q2’25 : $8.6Mn, 11% Q2’25:$1.1Mn, 1% Non-GAAP1 GAAP GAAP Net Profit GAAP Net Margin Operatin
Slide 22: Positive Operating Leverage Realized
Positive Operating Leverage Realized Half-Year 1 $174Mn +12% 2026 25H1: $155Mn Total Revenue Total Revenue YoY Growth +$3Mn +$17.4Mn +$10Mn +5% $18Mn,10% $17Mn,10% $34Mn 20% 25H1: $15Mn, 10% 25H1: -$0.4, -0.2% 25H1: $24Mn 25H1: 15% Non-GAAP1 GAAP GAAP Net Profit GAAP Net Margin Operating Profit / Ma
Slide 23: Sustained YoY Revenue Growth with Improving Momentum in Q2'26
Sustained YoY Revenue Growth with Improving Momentum in Q2’26 Quarterly Revenue & YoY (USD'M) 92.9 84.5 16.0% 81.6 82.1 82.5 80.1 80.9 74.7 73.3 8.3% 2.9% 1.1% Total Revenue & YOY Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1‘26 Q2‘26 Note: Numbers are rounded for presentation purposes. 25
Slide 24: AI-Enabled Value-Added Services Drive Lifecycle Monetization
AI-Enabled Value-Added Services Drive Lifecycle Monetization Revenue Breakdown, 26’Q2 (USD'M) C-end Service Recurring Revenue Growth YoY +16.0% YoY +16.9% YoY +23.2% YoY +3.9% 22.2%+ 26‘Q2 YOY 92.9 67.9 58.1 80.1 10.9 13.5 11.1 11.5 25'Q2 26'Q2 25'Q2 26'Q2 25'Q2 26'Q2 • Device lifecycle monetization
Slide 25: Healthy Gross Margin Supports Sustainable Profitability
Healthy Gross Margin Supports Sustainable Profitability Gross Margin Revenue Contribution Overall Blended More diverse revenue structure in line with growing strategy 46.4% 47.4% 48.2% 47.6% 46.9% 46.3% 12% 14% 14% 15% 15% 13% 14% 12% By Revenue Stream 74.2% 71.9% 72.5% 73.0% 71.7% 72.0% 47.1% 48.3%
Slide 26: Continued Expense Discipline Supports Operating Leverage
Continued Expense Discipline Supports Operating Leverage Operating Expenses, GAAP and Non-GAAP1 (USD'M) 58.1 54.1 54.6 8.1 47.0 45.9 Imm. 45.5 Imm. 2.3 43.0 Imm. 17.0 37.7 14.9 37.7 15.9 15.8 36.0 14.8 12.2 33.7 GAAP 15.4 32.2 8.3 7.5 5.1 30.4 0.6 33.0 1.3 33.4 Non-GAAP 32.0 0.6 30.7 30.0 30.1 30.8
Slide 27: Operating Leverage Continued to Improve in Q2'26
Operating Leverage Continued to Improve in Q2’26 Operating Profits (USD'M) 10% OP Margin 9.3 8.0 7.5 3.8 1.1 Operating profit remained positive in Q2’26 (1.5) (3.8) • Revenue growth and disciplined expense (10.3) management (16.4) (18.5) (17.1) • Operating leverage continued to improve (23.6) • GAAP
Slide 28: Healthy Net Profitability Maintained in Q2'26
Healthy Net Profitability Maintained in Q2’26 Net Profits (USD'M) 20% GAAP Net Margin 19.3 18.6 Healthy net profitability maintained in 15.8 15.0 Q2’26 12.6 9.8 11.0 • GAAP net profit improved year over year 3.1 • GAAP net margins remained 20% (3.5) (4.4) • Supported by operating efficiency and (4.9
Slide 29: Strong Cash Position and Continued Positive Operating Cash Flow
Strong Cash Position and Continued Positive Operating Cash Flow Net Operating Cash Flows Net Cash1 and Shareholder Equities (USD'M) (USD'M) Net Cash Balance Shareholder Equities Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 1,024 1,027 1,023 1,028 1,017 1,017 30.2 30.
Slide 30: Well-Controlled Receivables and Turnover Days
Well-Controlled Receivables and Turnover Days Receivables at Period End Account Receivable Turnover Days1 (USD'M) (Days) Tuya Average - Semiconductor Average - Software 14.1 66 65 13.1 13.2 13.0 60 60 61 60 60 12.6 59 59 55 11.3 52 53 57 58 10.1 10.0 56 9.6 54 54 9.2 50 47 49 49 49 46 45 7.6 7.6 6.8
Slide 31: Recent Updates
Recent Updates
Slide 32: Q2 Business Growth Highlights
Q2 Business Growth Highlights Smart Door Lock Smart Home Appliance • Shipment +46% • Shipment +50% • Revenue +72% • Revenue +54% • Driver ： Video + low -power • Driver ： Broader appliance Wi-Fi solutions adoption AI Companion Product Energy PaaS Solutions • Strong revenue growth • Rapid shipment exp
Slide 33: AI Energy: Three Growth Directions
AI Energy：Three Growth Directions EV Charging EV charger solutions delivered rapid growth. HVAC & Temperature Control Thermostat and HVAC solutions continued to expand, especially in North America. AI HEMS AI home energy management supports monitoring, alerts and user-authorized automation across mo
Slide 34: Disclaimer
Disclaimer This presentation and the accompanying oral presentation (the “Presentation”) have been prepared by Tuya Inc. (the “Company”) solely for informational purposes and have not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Com