Tuya Full Year 2023 Earnings: Beats Expectations

Tuya (NYSE:TUYA) Full Year 2023 Results

Key Financial Results

• Revenue: US$230.0m (up 11% from FY 2022).
• Net loss: US$60.3m (loss narrowed by 59% from FY 2022).
• US$0.11 loss per share (improved from US$0.26 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tuya Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%.

In the last 12 months, the only revenue segment was Internet Software & Services contributing US$230.0m. Notably, cost of sales worth US$123.3m amounted to 54% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to US$102.3m (48% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$45.5m. Explore how TUYA's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 1.2% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Tuya that you should be aware of.

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