Tuya Inc 6-K, filed May 21, 2025

Tuya Inc. (TUYA)

6-K 2025-05-21 For: 2025-05-20

Added on April 10, 2026

About this 6-K

Tuya Inc filed this 6-K on May 21, 2025.

Exhibit No.		Description
99.1		Press Release

	As of December 31, 2024		As of March 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		653,334		763,788
Restricted cash		50		165
Short-term investments		194,536		89,985
Accounts receivable, net		7,592		9,591
Notes receivable, net		7,485		9,766
Inventories, net		23,840		21,583
Prepayments and other current assets, net		16,179		18,738
Total current assets		903,016		913,616
Non-current assets:
Property, equipment and software, net		6,619		8,557
Land use rights, net		8,825		8,793
Operating lease right-of-use assets, net		4,550		5,248
Long-term investments		180,092		181,875
Other non-current assets, net		678		314
Total non-current assets		200,764		204,787
Total assets		1,103,780		1,118,403
LIABILITIES AND SHAREHOLDERS^'EQUITY
Current liabilities:
Accounts payable		19,051		19,457
Advances from customers		31,346		27,145
Deferred revenue, current		7,525		7,797
Accruals and other current liabilities		32,257		67,806
Incomes tax payables		360		483
Lease liabilities, current		3,798		3,403
Total current liabilities		94,337		126,091
Non-current liabilities:
Lease liabilities, non-current		851		1,835
Deferred revenue, non-current		377		460
Other non-current liabilities		767		–
Total non-current liabilities		1,995		2,295
Total liabilities		96,332		128,386

	As of December 31, 2024			As of March 31, 2025
Shareholders^'equity:
Ordinary shares		–			–
Class A ordinary shares		25			27
Class B ordinary shares		4			4
Treasury stock		(15,726	)		(1,050	)
Additional paid-in capital		1,612,712			1,569,409
Accumulated other comprehensive loss		(19,716	)		(19,539	)
Accumulated deficit		(569,851	)		(558,834	)
Total shareholders^'equity		1,007,448			990,017
Total liabilities and shareholders^'equity		1,103,780			1,118,403

	For the Three Months Ended
	March 31, 2024			March 31, 2025
Revenue		61,662			74,687
Cost of revenue		(32,177	)		(38,436	)
Gross profit		29,485			36,251
Operating expenses:
Research and development expenses		(23,474	)		(22,810	)
Sales and marketing expenses		(8,983	)		(8,347	)
General and administrative expenses		(15,474	)		(8,929	)
Other operating incomes, net		2,079			2,383
Total operating expenses		(45,852	)		(37,703	)
Loss from operations		(16,367	)		(1,452	)
Other income
Other non-operating income, net		778			767
Financial income, net		12,807			12,395
Foreign exchange (loss)/gain, net		(105	)		44
(Loss)/profit before income tax expense		(2,887	)		11,754
Income tax expense		(656	)		(737	)
Net (loss)/profit		(3,543	)		11,017
Net (loss)/profit attributable to Tuya Inc.		(3,543	)		11,017
Net (loss)/profit attribute to ordinary shareholders		(3,543	)		11,017
Net (loss)/profit		(3,543	)		11,017
Other comprehensive (loss)/income
Transfer out of fair value changes of long-term investments		(65	)		–
Foreign currency translation		(428	)		177
Total comprehensive (loss)/income attributable to Tuya Inc.		(4036	)		11,194

	For the Three Months Ended
	March 31, 2024			March 31, 2025
Reconciliation of net (loss)/profit to non-GAAP net profit
Net (loss)/profit		(3,543	)		11,017
Net margin		(5.7	)%		14.8	%
Add: Share-based compensation expenses		15,814			8,275
Non-GAAP Net profit		12,271			19,292
Non-GAAP Net margin		19.9	%		25.8	%
Weighted average number of ordinary shares used in computing non-GAAP net profit per share
– Basic		559,133,184			606,308,258
– Diluted		591,737,410			608,490,640
Non-GAAP net profit per share attributable to ordinary shareholders
– Basic		0.02			0.03
– Diluted		0.02			0.03