Tuya Inc. (TUYA) Income Statement
TUYA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTUYA revenue and net income
Where TUYA's revenue goes
2025Each bar shows an amount and its share of revenue. TUYA kept 18.0% of revenue as net income.
TUYA profit margins
TUYA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.0% | +15.7% | +12.4% | — |
| Gross profit | +9.9% | +20.2% | +20.2% | — |
| Operating income | — | — | — | — |
| Net income | +1,061.6% | — | — | — |
| EPS (diluted) | +9.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TUYA quarterly EPS vs estimates
Tuya beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 23, 2026 (estimate $0.03).
TUYA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $322.6M | $298.6M | $230.0M | $208.2M | $302.1M | $179.9M | $105.8M |
| Cost of revenue | $167.2M | $157.2M | $123.3M | $118.7M | $174.2M | $117.9M | $78.0M |
| Gross profit | $155.5M | $141.4M | $106.7M | $89.4M | $127.9M | $61.9M | $27.8M |
| Research & development | $89.9M | $95.0M | $102.3M | $144.9M | $174.3M | $77.4M | $52.0M |
| Sales, general & admin | $64.0M | $68.3M | $80.7M | $67.5M | $71.6M | $55.4M | $49.2M |
| Total operating expenses | $154.1M | $189.1M | $212.5M | $257.6M | $311.4M | $131.8M | $101.2M |
| Operating income | $1.3M | −$47.6M | −$105.8M | −$168.2M | −$183.6M | −$69.8M | −$73.4M |
| Interest income | $43.4M | $50.4M | $44.3M | $18.5M | $7.3M | $3.1M | $3.3M |
| Interest expense | — | — | — | $23.9M | $1.2M | $3.2M | $2.8M |
| Income before taxes | $60.0M | $7.1M | −$57.1M | −$144.3M | −$174.9M | −$66.7M | −$70.4M |
| Income taxes | $2.0M | $2.1M | $3.2M | $1.9M | $490,000 | $206,000 | $124,000 |
| Net income | $58.0M | $5.0M | −$60.3M | −$146.2M | −$175.4M | −$66.9M | −$70.5M |
| EBITDA | $65.2M | $12.2M | −$50.5M | −$136.1M | −$164.6M | −$64.2M | −$70.0M |
| EPS (diluted) | $0.12 | $0.11 | −$0.03 | −$0.14 | −$0.31 | −$0.24 | −$0.22 |
| Gross margin | 48.2% | 47.4% | 46.4% | 43.0% | 42.3% | 34.4% | 26.3% |
| Operating margin | 0.4% | −15.9% | −46.0% | −80.8% | −60.8% | −38.8% | −69.4% |
| Net margin | 18.0% | 1.7% | −26.2% | −70.2% | −58.1% | −37.2% | −66.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $173.8M | $81.1M | $84.9M | $82.6M | $80.1M | $74.7M | $82.1M | $81.6M | $73.3M | $61.7M | $64.4M | $61.1M |
| Cost of revenue | $92.9M | $43.1M | $44.4M | $42.7M | $41.4M | $38.4M | $42.8M | $44.1M | $38.1M | $32.2M | $33.9M | $32.6M |
| Gross profit | $80.9M | $38.0M | $40.4M | $39.9M | $38.9M | $36.3M | $39.2M | $37.5M | $35.2M | $29.5M | $30.5M | $28.5M |
| Research & development | $45.1M | $22.0M | $21.8M | $22.8M | $22.5M | $22.8M | $23.7M | $24.9M | $23.0M | $23.5M | $22.8M | $24.9M |
| Sales, general & admin | $9.0M | $11.7M | $13.1M | $16.5M | $9.4M | $8.9M | $22.7M | $22.3M | $16.9M | $15.5M | $34.7M | $15.8M |
| Total operating expenses | $64.2M | $33.8M | $35.0M | $39.3M | $37.7M | $37.7M | $85.9M | $54.6M | $45.5M | $45.9M | $57.5M | $47.0M |
| Operating income | $16.8M | $4.2M | $5.5M | $540,603 | $1.1M | −$1.5M | −$3.8M | −$17.1M | −$10.3M | −$16.4M | −$27.0M | −$18.5M |
| Interest income | $10.6M | $9.5M | $8.8M | $11.4M | $10.8M | $12.4M | $12.2M | $13.0M | $12.5M | $12.8M | $13.2M | $13.1M |
| Income before taxes | $35.1M | $16.3M | $19.7M | $15.2M | $13.2M | $11.8M | $10.3M | −$4.0M | $3.7M | −$2.9M | −$9.7M | −$4.9M |
| Income taxes | $646,000 | $434,291 | $321,396 | $261,000 | $635,000 | $737,000 | $524,000 | $373,000 | $592,000 | $656,000 | $1.1M | $12,000 |
| Net income | $34.4M | $15.8M | $19.4M | $15.0M | $12.6M | $11.0M | $9.8M | −$4.4M | $3.1M | −$3.5M | −$10.8M | −$4.9M |
| EBITDA | $35.1M | $16.3M | $24.9M | $15.3M | $13.2M | $11.8M | −$3.2M | −$3.4M | −$7.8M | −$2.3M | −$23.0M | −$4.0M |
| EPS (diluted) | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | −$0.01 | $0.02 | $0.02 |
| Gross margin | 46.6% | 46.9% | 47.6% | 48.3% | 48.5% | 48.5% | 47.8% | 46.0% | 48.0% | 47.8% | 47.3% | 46.7% |
| Operating margin | 9.7% | 5.2% | 6.4% | 0.7% | 1.4% | −1.9% | −4.6% | −21.0% | −14.1% | −26.5% | −42.0% | −30.3% |
| Net margin | 19.8% | 19.5% | 22.9% | 18.1% | 15.8% | 14.8% | 11.9% | −5.4% | 4.3% | −5.7% | −16.8% | −8.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TUYA's financial statements (latest annual report filed April 22, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TUYA financial results
In fiscal year 2025 (ended December 31, 2025), Tuya reported revenue of $322.6 million, up 8.0% from the year before. It had net income of $58.0 million (up 1,061.6%), a net profit margin of 18.0%. Diluted earnings per share came to $0.12. Over five years revenue grew at an average rate of 12.4% a year.
See the TUYA stock overview for the latest quote and news, or the TUYA chart for price history and technical indicators.
TUYA income statement FAQ
What is Tuya's annual revenue?
Tuya reported total revenue of $322.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 8.0% from $298.6 million the previous year.
Is Tuya profitable?
Yes. Tuya reported net income of $58.0 million in fiscal 2025, a net profit margin of 18.0%; its operating margin was 0.4%.
What is Tuya's gross margin?
Tuya's gross margin was 48.2% in fiscal 2025: for every $100 of revenue, Tuya kept $48 after the direct cost of its products and services.
How much does Tuya spend on research and development?
Tuya spent $89.9 million on research and development in fiscal 2025, 27.9% of revenue.
How fast is Tuya growing?
Revenue grew 12.4% a year on average over the last five fiscal years, from $179.9 million to $322.6 million.
What are Tuya's earnings per share?
Tuya earned $0.12 per diluted share in fiscal 2025, compared with $0.11 a year earlier.
When will Tuya report its next earnings?
Tuya is expected to report results for the quarter ending September 30, 2026 on November 23, 2026 after the market closes.
When does Tuya's fiscal year end?
Tuya's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 22, 2026.