Tuya, Inc. · NYSE:TUYA
Tuya — Q1 2026 Earnings Presentation
32 slides from Tuya's earnings presentation, Aug 24, 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 First Quarter 2026
Slide 2: Build an AI Developer Ecosystem
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 Q1’26 Largest 3rd cloud developer platform globally Revenue Y/Y Growth $80.9 Mn/+8.3% Limited/Eliminated competition Gross Margin 47% Irreplaceable/Hig
Slide 5: AI-Driven Global Platform with Expanding Developer Ecosystem
AI-Driven Global Platform with Expanding Developer Ecosystem 1.97+ Million Global AI Developers As of March 31, 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+ Medellí
Slide 6: Our Esteemed Global Customers
Our Esteemed Global Customers 5
Slide 7: Solid Founding Team
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: We're 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 11
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. 13
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 14
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 17
Slide 19: Tuya as 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 18
Slide 20: Financial Updates
Financial Updates
Slide 21: Strong Growth and Continued Profitability in Q1'26
Strong Growth and Continued Profitability in Q1’26 The First Quarter, 2026 $80.9Mn +8.3% Q1’25 : $74.7Mn Total Revenue Total Revenue YoY Growth $8.1 10 $7.5 9 Mn, % Mn, % $16Mn 20% Q1’25 : $11Mn Q1’25 : 15% Q1’25 : $6.8Mn, 9% Q1’25:$-1.5Mn, -2% Non-GAAP1 GAAP GAAP Net Profit GAAP Net Margin Operatin
Slide 22: Sustained YoY Revenue Growth with Improving Momentum in Q1'26
Sustained YoY Revenue Growth with Improving Momentum in Q1’26 Total Revenue by Quarter (USD'M) 84.5 81.6 82.1 82.5 80.1 80.9 74.7 73.3 61.7 Total Revenue YoY +8.3% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1‘26 Note: Numbers are rounded for presentation purposes. 21
Slide 23: AI-Enabled Value-Added Services Drive Lifecycle Monetization
AI-Enabled Value-Added Services Drive Lifecycle Monetization Revenue Breakdown, 26’Q1 (USD'M) C - end Service Recurring Revenue Growth YoY +8.3% YoY +9.8% YoY -6.9% YoY +16.9% 19%+ 26 ‘Q1 YOY 80.9 74.7 59.0 53.8 11.0 10.2 10.0 11.6 25'Q1 26'Q1 25'Q1 26'Q1 25'Q1 26'Q1 • Device lifecycle monetization
Slide 24: 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% 48.5% 47.6% 46.9% 12% 14% 14% 13% 15% 13% 14% 14% By Revenue Stream 74.2% 71.9% 72.5% 74.4% 73.0% 71.7% 47.1% 48.3%
Slide 25: Continued Expense Discipline Supports Operating Leverage
Continued Expense Discipline Supports Operating Leverage Operating Expenses, GAAP and Non-GAAP1 (USD'M) 58.1 53.3 54.1 54.6 8.1 47.0 7.4 Imm. 45.9 45.5 43.0 17.3 2.3 Imm. 17.0 Imm. 37.7 37.7 14.9 36.0 15.9 15.8 14.8 12.2 32.2 15.4 30.4 36.0 8.3 7.5 5.1 33.0 1.3 32.0 0.6 GAAP 30.7 30.0 30.1 30.8 30.2
Slide 26: Operating Leverage Continued to Improve in Q1'26
Operating Leverage Continued to Improve in Q1’26 Operating Profits (USD'M) 9.2% OP Margin 8.0 7.5 3.8 Operating profit remained positive in Q1’26 1.1 (1.5) • Revenue growth and disciplined expense (3.8) management (10.3) • Operating leverage continued to improve (16.4) (17.1) (18.5) • GAAP operating
Slide 27: Healthy Net Profitability Maintained in Q1'26
Healthy Net Profitability Maintained in Q1’26 Net Profits (USD'M) 19.3 Healthy net profitability maintained 15.8 15.0 20% in Q1’26 12.6 GAAP 11.0 9.8 Net Margin • GAAP net profit improved year over year 3.1 • GAAP net margins remained around 20% (3.5) (4.4) (4.9) • Supported by operating efficiency
Slide 28: 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 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 1,024 1,027 1,023 1,017 1,017 1,017 31.8 30.
Slide 29: 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 14.2 66 65 13.1 13.2 13.0 60 60 61 60 60 12.6 58 59 65 57 11.3 52 53 10.1 10.0 55 56 9.6 54 54 9.2 50 49 49 49 47 46 45 7.6 7.6 6.8
Slide 30: Recent Updates
Recent Updates
Slide 31: Tuya Global Developer Summit 2026 Shenzhen
Tuya Global Developer Summit ·2026 Shenzhen Key Technology Releases Strengthen Tuya’s Physical AI Stack • Hey Tuya: AI life assistant with scenario creation • TuyaClaw: digital-to-physical AI workspace • DuckyClaw: hardware-native AI Agent framework • Vibe Coding / TuyaOpen: faster AI hardware devel
Slide 32: 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