Tuya Reports Q3 Profit Turnaround with 6.1% Gross Profit Increase

Tuya Inc. (NASDAQ:TUYA) reported Q3 revenue of $82.5 million, up 1.1% YoY, driven by stronger AI feature adoption in smart hardware. Gross profit rose 6.1% to $39.8 million, with gross margin expanding to 48.3%. Operating income turned positive at $3.8 million, yielding a 4.6% margin. Management attributed the growth to a better mix of high-margin SaaS and PaaS offerings over hardware.