Tuya Inc. (TUYA) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
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TUYA Revenue Growth
Revenue Breakdown (FY 2024)
TUYA's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
TUYA Revenue Analysis (2019–2024)
As of May 6, 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.
Looking at the longer-term picture, TUYA's 5-year compound annual growth rate (CAGR) stands at +23.1%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $302.1 million in 2021.
Revenue diversification analysis shows TUYA's business is primarily driven by IoT PaaS (73%), Smart Device Distribution (14%), and Saas And Others (13%). With over half of revenue concentrated in IoT PaaS, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including SMRT (-24.3% YoY), ARLO (+3.6% YoY), and CSIQ (-6.6% YoY), TUYA has outperformed the peer group in terms of 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% | +23.1% | -15.9% | |
 SMRT | $175M | -24.3% | +37.0% | -23.9% | |
 ARLO | $529M | +3.6% | +8.2% | 1.1% | |
 CSIQ | $5.6B | -6.6% | +10.0% | -0.5% | |
 ZBRA | $5.4B | +8.3% | +3.9% | 14.8% | |
 TTEC | $2.1B | -3.2% | +1.9% | -5.5% |
TUYA Historical Revenue Data (2019–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 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% |
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Start ComparisonTUYA — Frequently Asked Questions
Quick answers to the most common questions about buying TUYA stock.
Is TUYA's revenue growth accelerating or slowing?
TUYA maintains +9.3% revenue growth, in line with its 5-year CAGR of +23.1%. TTM revenue stands at $318M. Growth rate remains consistent with historical average.
What is TUYA's long-term revenue growth rate?
Tuya Inc.'s 5-year revenue CAGR of +23.1% reflects the sustained expansion pattern. Current YoY growth of +9.3% is near this long-term average.
How is TUYA's revenue distributed by segment?
TUYA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.