Tuya Reports Q1 Revenue of $80.9M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 11 2026
0mins
Reports Q1 revenue $80.9M, one estimate $80.7M. Mr. Xueji (Jerry) Wang, Founder and Chief Executive Officer of Tuya, commented, "In the first quarter, despite ongoing external uncertainties and certain regional disruptions, we continued to demonstrate solid growth momentum and strong execution capabilities. Since the fourth quarter, we have benefited from a continued recovery in downstream demand, supporting the ongoing expansion of our business scale. Total revenue increased by 8.3% year over year, with the growth rate further improving from the previous quarter, and we maintained positive growth for multiple consecutive quarters. Our gross margin remained at a healthy level, underscoring the continued enhancement of our product value proposition and platform competitiveness. Strategically, we continue to pursue AI-driven development, harnessing AI capabilities to accelerate the deployment of application-level solutions and scenario-based products, with implementation across multiple scenarios. We continued to iterate our developer tools and platform capabilities, enabling global developers to access and apply the most advanced AI technologies at lower cost and with greater efficiency. This is reflected in the continued growth of our AI-related business revenue, highlighting our steady progress in commercialization and accelerated deployment. Meanwhile, demand for AI-native applications in consumer scenarios continued to rise, driving the scaled application of Physical AI in real-life settings. At the same time, we are expanding the global rollout of validated solutions and further strengthening our developer ecosystem, working with industry partners to jointly explore the long-term opportunities in the AI application market. Looking ahead, supported by our resilient business model and solid financial foundation, we remain focused on AI application innovation, global solution expansion and developer ecosystem development, continuously enhancing our long-term value creation capabilities."
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Analyst Views on TUYA
About TUYA
Tuya Inc is a company primarily engaged in the provision of artificial intelligence (AI) cloud platform service. Through its TuyaOpen open-source development framework and universal AI Agent engines, including the AI Agent development platform, the Company integrates multimodal AI capabilities to promote the deep integration of AI with the physical world. The Company offers physical AI solutions for smart devices, commercial applications, and industry developers through its cloud computing and spatial intelligence capabilities. Through its artificial Internet of Things developer platform, the Company has activated a global developer community of brands, original equipment manufacturers (OEMs), AI agents, system integrators and independent software vendors to collectively strive for smart solutions ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Vision: Tuya aims to build an AI developer ecosystem to promote the proliferation and application of smart devices, which is expected to enhance its competitiveness in the global market and attract more developers to its platform.
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- Strategic Vision: Tuya aims to build an AI developer ecosystem to promote the proliferation and application of smart devices, which is expected to enhance its competitiveness in the global market and attract more developers to its platform.
- Technological Innovation: The company has launched an AI cloud platform with cloud computing and generative AI capabilities, offering a comprehensive suite of services, including Platform-as-a-Service (PaaS) and smart home products, aimed at meeting the growing demand for smart devices and driving business growth.
- Global Developer Community: Through its AI developer platform, Tuya has activated a vibrant global developer community that includes brands, OEMs, and AI agents, fostering the formation of a smart solutions ecosystem that embodies principles of green, low-carbon, and high efficiency.
See More
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- Company Overview: Tuya Inc. is a global leader in AI cloud platform services, dedicated to building an AI developer ecosystem and advancing smart technology, showcasing its robust capabilities in smart home and robotics products.
- Technological Innovation: The company's AI cloud platform features cloud and generative AI capabilities, offering a comprehensive suite of solutions, including Platform-as-a-Service (PaaS), aimed at meeting diverse developer needs in smart devices and commercial applications, thus driving technological advancement in the industry.
- Global Developer Community: Through its AI developer platform, Tuya has activated a vibrant global developer community that includes brands, OEMs, AI agents, and others, collectively striving to promote a smart solutions ecosystem characterized by green, low-carbon, efficient, secure, and agile principles.
See More
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- Deep Integration of Smart Home Ecosystem: Zeroth's robots will be deeply integrated with various smart devices in the home through Tuya's Physical AI Engine, enabling coordination of lighting, climate control, and other systems, thereby improving household management efficiency and meeting user demands for smart living.
- Real-Time Sensor Fusion: By integrating with Tuya's whole-home sensor matrix, Zeroth's robots achieve high-fidelity sensor fusion, granting smart homes both mobility and extended reach, which enhances environmental awareness and increases convenience for users in their daily lives.
- Bridging Cloud Intelligence and Physical Execution: This partnership addresses the disconnect between cloud-based AI and physical hardware, allowing robots to be deployed in real-world scenarios such as elderly care and children's companionship, delivering intuitive and empathetic smart services that advance the smart home evolution.
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- Deep Integration into Smart Home Ecosystem: Zeroth's robots will be deeply integrated with all smart devices in the home through Tuya's Physical AI Engine, enabling coordination of lighting, climate, security, and other systems, thereby enhancing the intelligence of household management and achieving more efficient living.
- Real-Time Sensor Fusion: By integrating with Tuya's whole-home sensor matrix, Zeroth's robots achieve high-fidelity sensor fusion, granting smart homes both mobility and extended reach, allowing comprehensive awareness of the home environment and enhancing the personalization of services.
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- Shareholder Voting Rights: Ordinary shareholders as of May 22, 2026, are entitled to attend and vote, while ADS holders must provide voting instructions to the depositary, ensuring all shareholders' voices are heard and enhancing corporate governance transparency.
- Annual Report Filing: Tuya has filed its annual report on Form 20-F with the SEC for the fiscal year ending December 31, 2025, including audited financial statements, demonstrating the company's commitment to compliance and transparency.
- Global Developer Ecosystem: Tuya aims to build an AI developer ecosystem, offering comprehensive PaaS and smart home products, promoting green, low-carbon, and efficient smart solutions, showcasing its strategic positioning and technological innovation in the global market.
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