On August 26, U.S. time, global AI cloud platform service provider Tuya Inc. (TUYA.US; 02391) announced its Q2 and H1 2025 financial results. The financial report shows that H1 2025 total revenue reached $155 million, representing approximately 14.7% year-over-year growth; PaaS revenue was $112 million, while SaaS and other revenue totaled $21 million.

In the second quarter specifically, total revenue reached $80.1 million, up approximately 9.3% year-over-year. The company achieved its first quarterly GAAP operating profit, with operating profit increasing by $11.4 million year-over-year. Net profit was $12.6 million, compared to $3.1 million in the same period of 2024, representing approximately 302.4% growth. Net profit margin improved by 11.4 percentage points year-over-year to 15.7%. Non-GAAP net profit margin reached 25.1%.

As of June 30, 2025, the company's net cash position (cash and cash equivalents plus time deposits and treasury bills recorded as short-term and long-term investments) totaled approximately $1.01 billion. Meanwhile, positive cash flow from operating activities continued at the tens of millions level, reaching $18.2 million, up approximately 53.8% year-over-year, providing support for the company's long-term development and technological innovation.

Wang Xueji, Founder and CEO of Tuya Inc., stated: "Against the backdrop of uncertainties in the global trade environment and continued pressure on the discretionary consumer electronics industry supply chain, Tuya demonstrated robust profitability and solid business growth in the first half of 2025. During the first half, the company's revenue grew approximately 15% year-over-year, and Non-GAAP operating profit increased approximately 127% year-over-year, fully demonstrating the resilience of our business model and the effectiveness of our operating leverage. Looking ahead, Tuya will adhere to long-termism, continue to cultivate core customers, seize regional market opportunities, and continuously optimize resource allocation to create long-term value for shareholders and the industry through steady financial performance and continuous innovation."

**Comprehensive Empowerment and Accelerated Developer Ecosystem Development**

As of June 30, 2025, the number of registered developers on Tuya's AI developer platform exceeded 1.514 million, maintaining steady growth and further proving the value of Tuya's open and neutral platform. To amplify the platform's empowering effects, Tuya provides developers with convenient AI technology and ecosystem support based on the TuyaOpen open-source development framework and universal AI Agent engines such as the AI Agent development platform. This significantly lowers the AI development threshold and helps developers create various lifestyle Agents, thereby accelerating the integration of AI technology with the physical world and promoting Physical AI implementation.

As of June 30, 2025, among Tuya's shipped products, AI-enabled categories accounted for 93.05% of total shipments. AI Agent services provided by Tuya's AI developer platform deliver 150 million AI interactions per day to global users. These cover universal AI Agent scenarios including AI Note, AI Translate, AI Health, AI Energy, AI Pet Care, AI Gaming, AI Lighting, AI Security, and AI Robotics, providing users with more personalized AI experiences.

**Partnering with Ecosystem Partners to Explore AI Commercialization Paths**

Since the second quarter, Tuya has collaborated with ecosystem partners to host multiple online and offline hackathon-themed events, generating hundreds of maker AI hardware prototypes with commercialization potential and continuously exploring how to truly integrate AI into the living scenarios of hundreds of millions of households worldwide.

For example, at the large-scale hackathon AdventureX 2025 held in Hangzhou at the end of July, Tuya led the organization of the AI hardware track, helping developers create a series of AI applications that redefined human-machine interaction experiences, enabling machines to understand and respond to human emotions, states, and even spiritual needs.

More importantly, Tuya is actively promoting the commercialization of maker projects. For instance, the community-initiated Otto robot project not only introduced agents for market promotion and outreach but also drove the widespread application of Tuya's T5 development board. Tuya's collaboration with the Punctual Atom community is introducing AI hardware development into university and embedded developer curricula, helping developers practice AI applications during their learning phase.

Additionally, Tuya will actively seek investment opportunities in high-potential AI projects in the market, providing comprehensive support from technology, development, and marketing to capital, allowing developers to focus more on product creativity and user experience, thereby lowering the development threshold and costs for AI hardware and accelerating Physical AI innovation and AI ecosystem co-construction.

Based on the company's current financial performance, Tuya continued to approve cash dividends totaling approximately $33 million this quarter. Continuous dividend distribution represents Tuya's attitude toward rewarding the capital market and fellow shareholders, while also reflecting Tuya's firm confidence in its industry prospects, product business, competitive landscape, and long-term development.

In the future, Tuya will continue to lower the threshold for AI developers and promote the commercialization of more AI hardware innovations through the synergy of developer communities, co-creation mechanisms, and ecosystem partners.