Tuya Inc. (TUYA) Revenue History
Annual and quarterly revenue from 2019 to present
TUYA Revenue Over Time (2019–2025)
TUYA Revenue Growth History
5 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +70.0%
- FY2021 revenue growth
- +67.9%
- FY2022 revenue growth
- -31.1%
- FY2023 revenue growth
- +10.5%
- FY2024 revenue growth
- +29.8%
- FY2025 revenue growth
- +8.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $80.1M | +9.3% |
| Q1 2025 | $74.7M | +21.1% |
| Q4 2024 | $82.1M | +27.4% |
| Q3 2024 | $81.6M | +33.6% |
| Q2 2024 | $73.3M | +28.6% |
| Q1 2024 | $61.7M | +29.9% |
| Q4 2023 | $64.4M | +42.2% |
| Q3 2023 | $61.1M | +35.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
TUYA's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
TUYA Revenue Analysis (2019–2025)
Current Revenue & Growth
As of June 21, 2026, Tuya Inc. (TUYA) generated trailing twelve-month (TTM) revenue of $318.5 million, reflecting solid growth of +9.3% year-over-year. The most recent quarter (Q2 2025) recorded $80.1 million in revenue, up 7.3% sequentially.
Historical Growth Trajectory
TUYA's 5-year compound annual growth rate (CAGR) stands at +12.4%, indicating consistent double-digit revenue growth. The 3-year CAGR of +15.7% exceeds the 5-year average, indicating an acceleration in the most recent period. Tuya Inc.'s highest annual revenue of $322.6 million was recorded in 2025, an all-time high.
Revenue by Segment
TUYA's revenue is primarily driven by Smart Device Distribution (50%), Saas And Others (49%), and Cloud-based Connectivity and Basic IoT Services (1%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Technology sector peers — including SMRT (-9.7% YoY), ARLO (+10.8% YoY), and CSIQ (-6.6% YoY) — TUYA has outperformed the peer group in revenue growth. Compare TUYA vs SMRT →
TUYA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TUYACurrent | $318M | +9.3% | +12.4% | 0.4% | |
 SMRT | $152M | -9.7% | +23.7% | -24.7% | |
 ARLO | $529M | +10.8% | +8.2% | 1.1% | |
 CSIQ | $5.6B | -6.6% | +10.0% | 0.8% | |
 ZBRA | $5.4B | +9.2% | +3.9% | 14.8% | |
 TTEC | $2.1B | -3.1% | +1.9% | 4.5% |
TUYA Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $322.6M | +8.0% | $155.5M | 48.2% | $1.3M | 0.4% |
| 2024 | $298.6M | +29.8% | $141.4M | 47.4% | $-47,620,000 | -15.9% |
| 2023 | $230.0M | +10.5% | $106.7M | 46.4% | $-105,824,000 | -46.0% |
| 2022 | $208.2M | -31.1% | $89.4M | 43.0% | $-168,186,000 | -80.8% |
| 2021 | $302.1M | +67.9% | $127.9M | 42.3% | $-183,560,000 | -60.8% |
| 2020 | $179.9M | +70.0% | $61.9M | 34.4% | $-69,846,000 | -38.8% |
| 2019 | $105.8M | - | $27.8M | 26.3% | $-73,440,000 | -69.4% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
7+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
TUYA — Frequently Asked Questions
Quick answers to the most common questions about buying TUYA stock.
Is TUYA's revenue growth accelerating or slowing?
TUYA revenue growth is holding steady at +9.3% year-over-year. TTM revenue is $318M. The current growth rate closely tracks the 5-year CAGR of +12.4%, signalling consistent execution.
What is TUYA's revenue history from 2019 to 2026?
Tuya Inc. (TUYA) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $318M, growing at +9.3% YoY. The 5-year CAGR is +12.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is TUYA's long-term revenue growth rate (CAGR)?
Tuya Inc.'s 5-year revenue CAGR of +12.4% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +9.3% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for TUYA.
Why does TUYA's quarterly revenue fluctuate?
TUYA quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Tuya Inc.'s revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is TUYA's revenue distributed by segment?
TUYA reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does TUYA's revenue compare to industry peers?
Tuya Inc. (TUYA) with TTM revenue of $318M and +9.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.