Tuya Inc., a global cloud platform service provider, reported its unaudited financial results for the first quarter of 2025, ending March 31. The company achieved a total revenue of $74.7 million, marking a significant 21.1% increase compared to the same period last year, when it reported $61.7 million. Specifically, the IoT platform-as-a-service (PaaS) revenue rose by 17.9% to $53.7 million from $45.6 million in the first quarter of 2024. The software-as-a-service (SaaS) and others category saw revenue growth of 15.5%, reaching $10.0 million, up from $8.6 million in the previous year. Additionally, smart solution revenue experienced a substantial increase of 47.1%, totaling $11.0 million compared to $7.5 million in the first quarter of 2024. The company also reported a GAAP net profit of $11.0 million, nearly doubling the full-year total for 2024, and achieving a record-high GAAP net margin of 14.8%. For the eighth consecutive quarter, Tuya generated positive operating cash flow and maintained a healthy net cash position. These financial results underscore Tuya's ability to sustain revenue growth and improve profitability amidst macroeconomic uncertainties and the rapid evolution of AI technologies. The company continues to focus on enhancing its AIoT capabilities and supporting global developers in integrating AI with smart devices, driving the intelligent transformation of the industry.