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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Tuya 4Q23 beats. Tuya reported 4Q23 revenue of $64 million, up 42% Y/Y, while overall gross margin reached a historical high of 47.3% and non-GAAP net profit reached a new peak of $12.6 million, representing 19.5% of non-GAAP net margin, driven by a global downstream demand recovery, the end of industry restocking, and Tuya’s successful execution of its big customer- focused strategy and earlier restructuring.</li><li>IoT PaaS contributed $47 million of revenue in 4Q23, up 45% Y/Y, driven by the normalization of downstream inventory and Tuya’s big customer-focused strategy.</li><li>Meanwhile, Tuya sees a more balanced distribution between smart lighting and electrical versus smart safety and home appliances.</li></ul>

Tuya 4Q23 beats. Tuya reported 4Q23 revenue of $64 million, up 42% Y/Y, while overall gross margin reached a historical high of 47.3% and non-GAAP net profit reached a new peak of $12.6 million, representing 19.5% of non-GAAP net margin, driven by a global downstream demand recovery, the end of industry restocking, and Tuya’s successful execution of its big customer- focused strategy and earlier restructuring.IoT PaaS contributed $47 million of revenue in 4Q23, up 45% Y/Y, driven by the normalization of downstream inventory and Tuya’s big customer-focused strategy.Meanwhile, Tuya sees a more balanced distribution between smart lighting and electrical versus smart safety and home appliances.

Tuya, Inc. - 4Q23 Beats: Well Positioned for 2024

<ul><li>Tuya is a leading Internet of Things (IoT) ecosystem builder that enables businesses to quickly design networked intelligence into their products, creating competitive advantages for themselves and added benefits for end customers.</li><li>Traditionally, brands and OEMs have invested significant effort and budget to make their products smart and provide end customers with a unified experience.</li><li>Tuya attempts to address this market fragmentation through its one- stop platform and neutral infrastructure, which it believes enables brands, OEMs, and developers to develop, launch, manage, and monetize smart devices and services in a quick and cost-effective way. </li></ul>

Tuya is a leading Internet of Things (IoT) ecosystem builder that enables businesses to quickly design networked intelligence into their products, creating competitive advantages for themselves and added benefits for end customers.Traditionally, brands and OEMs have invested significant effort and budget to make their products smart and provide end customers with a unified experience.Tuya attempts to address this market fragmentation through its one- stop platform and neutral infrastructure, which it believes enables brands, OEMs, and developers to develop, launch, manage, and monetize smart devices and services in a quick and cost-effective way. 

Tuya, Inc. - Winter Is Over: IoT Ecosystem Builder Pioneers the Next Stage of Growth

United States

Tuya Inc., doing business as Tuya Smart, provides IoT cloud platform. The Company offers solutions which enables brands, retailers, OEMs, and manufacturers to develop, launch, manage, and monetize software-enabled devices and services. Tuya Smart serves customers worldwide.

Tuya Inc (TUYA US)

Tuya, Inc. - 4Q23 Beats: Well Positioned for 2024

IoT PaaS contributed $47 million of revenue in 4Q23, up 45% Y/Y, driven by the normalization of downstream inventory and Tuya’s big customer...

Water Tower Research

Tuya, Inc. - Winter Is Over: IoT Ecosystem Builder Pioneers the Next Stage of Growth

Traditionally, brands and OEMs have invested significant effort and budget to make their products smart and provide end customers with a unified...

Water Tower Research