TUYA - Earnings call transcript Q2 2024

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Operator

Good day, and thank you for standing by. Welcome to the Tuya Inc.

Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised, today's conference is being recorded. I would now like to turn the call over to your first speaker for today, Mr. Director Relations Investor Chai, of Tuya. Reg ahead, go sir. Please

Reg Chai

to Okay, XXXX quarter Hello, Welcome thank everyone. our earnings second you. call.

Jessie Co-Founder Joining us Wang, Ms. Jerry of Tuya, and today are Founder our and current Alex incoming CFO, and CEO Ms. Liu, Yang. our CFO,

XXXX available quarter webcasts and website hours. a on available our results call this call of replay few ir.tuya.com. IR A financial of conference will are second The this at also be in

earnings press we forward-looking harbor deliver our CEO, be Before will will his Jerry I by statement call call this and to English refer statements. the Jerry our to will I make followed corresponding which safe our release remarks as continue, you that, now will in to turn Wang. which translation. Ms. Founder applies in we With Chinese,

Xueji Wang

you Thank joining for Second Tuya's Call. Conference Quarter everyone. Hello, [Interpreted] Earnings XXXX

was Tuya, a and quarter milestone growth second our The year-over-year expectations robust another XXXX meet continuing achieving revenue of XX%. to approximately for with of

segments stats primarily forward that company's development. gross [indiscernible] first but discuss targets, revenue margins. Today, moving its this strong advantages. profit our everyone this, long-term I the also encouraging fundamentals This want non-GAAP we we margin With enhancing and profit long-term is promises. achieved around will with operational model, have of focus viability and reflecting the the major business validates fulfilling our level and with an occasion profit leverage in on to margins, operational and accomplished short-term commitment to of Tuya's product and operational several strong operational an maintained [indiscernible] our profit continue our milestone, quarterly company's concerning our growth sequentially proposition not the on XX%. history, we only to Moreover, Our value the financial extremely further of our highlights

business includes Tuya point quarter, and a in landscape. This service the the global beginning Firstly, is platform the new industrial and [indiscernible] XX%, smart partly due taking business environment household provider, Asia our year-over-year extra the the as new the the technology electronics recovery quarter. growth consumer [indiscernible] IoT smart during leading experienced as and of at electronics scenarios. In second appliance and better PaaS for demand other to cloud competitive data new industrial bring starting consumer and the the of robust approximately

clients importantly, new and existing advance a the was favorable More amplified customers ability to competitive landscape. Tuya's with more by acquire

with smart Latin a exploring device experience service Chile. the software Based in with we Central domain. lighting transformation for smart demand servicing opportunities operator on cooperation telecom like sector, with collaborated smart saving extensive replicating basically device cutting-edge policies AI-driven with firm, For energy market France's energy our and in leveraging example, [indiscernible] benefit explore advantages complete jointly lives. as the from sustainable the software technologies, which Tuya is to technology well saving to in Europe the and subsidies substantial integration industry leading energy solutions. In leading and America, leading ISPs smart smart basic and platform Colombia projects benchmark including projects in algorithm of towards capabilities need benchmarks set as solutions. solutions and Tuya countries promote in aim and in America, strategic focus people's we [indiscernible] past provided We GenAI, collaborations implementation strong and clients street and clients the operator, [indiscernible] saw our began provider on

as X-year largest brand its old doubling Brazilian of electronics In Brazil, emerged brands one smartphone smartphone growth terms brands of a consumer year-over-year. the in

and open as will in now deploying telecom Tuya's the the home second development share Cube expand cloud. in Latin to smart public in solutions in one as opportunities customer Tuya. region. In help also and quarter, for both under significant technical of with from previous quality largest the capabilities platforms the up The the includes for and such business their where efficiency [indiscernible] in basis Cube X a efforts operations This operators industrial capabilities acquisition. other companies with are Pacific, considering to strong recognizing of the demand operator America cooperation revenue smart limited solutions accelerate are increased comprehensive technology or Vietnam smart and from reflected and our such competitive Asia shifts Tuya. partnerships initial with scenarios demonstrates in their this investments to there operators customer customer collaborations base customer directly solutions Our addition service continued additional their Tuya's for product the Tuya in other to the most With in choices of that advantage partners. This in

various a or gross products margin We products, the formulated from high-value has overall experience. includes derived into as been maintaining they this receive margin and growth new achieving this the products. Smart the capabilities gross it rapidly, the embedded developed that and some level in design, of gross best This remains solution approximately and product strategy revenue select brands from XXXX to leading complete combining comparable XX%. Second, year-over-year for margin solution of Tuya models, software-intensive software smart integration smart various delivering technology the device business global to company consumers as highlights product nearly solution and produce intelligent smart integrated its smart customers growing our committed systems categories GenAI of over international by revenue of while generating through the products. value particularly AI, of deliver iteration and we quarter even the and ensuring since regions, high-value software operating with development to was sell cloud [indiscernible] to their the XX% that is of and believe different XX% software technology best solutions technology smart Tuya's

business main a device the of briefly a of are customers' smart smartification, customers has productive for Tuya helping and Our of types first, At regard, This smart efficient In model customers them solutions gain needs accelerate essential will significant their products for solution providing help more personalized in for customers highly categories, serve the meeting other, smart X to assist each loyalty. business. better with expanding the revenue. competitive this living us ecosystem past complete and stage rich their product Tuya the substantial capability and enhance Tuya process complement different is every a for a advantage the solutions product go-to-market metrics this smart and edge. and customer reasons,

in lies core revenue of correspondingly high-value solutions capabilities more meaningful through the and more Second, smart software amounts. with products profit gross obtaining generating

achieve solutions, been customer device. At reasonable for through for Tuya's scalable and both capabilities controlled in we R&D and profits smart more most revenue of in collaborations always can Software our devices. and investments present, each strengths solutions complete have product smart new

we quarter, with with solution cooperation brand For orders expanded example, our smart fixed exceeding XXX,XXX units, in million. customers $X the European approximately which second is

Germany's temperate control with million. devices orders and retail from leading also We total gateways from the reaching $X valves, to other secured chain

intelligence Dutch aiming product at invest conference, with and product valuable others. Since and lighting Additionally, through driven our the user will to promoting GenAI, should we technologies global experience penetration believe to the by they other product in continued signed users AI, the significantly a cultivation continuing deep and the multimillion second of developer with ] the and [ providing experience dollar smart company of we better have annual edge give among competitiveness in AI, market, smart customers be devices more contract quarter, [indiscernible] were commercial smart experience sense and increase rates. cloud We that X the features. Tuya's with enhance the I innovation generally solution European of examples. the

product to have in will street The smart blinking already understand personalizes the corresponding we callers in Generative first scenarios one device the [indiscernible]. the different the control market. showcased and present emotional to light is needs consumers' AI

enhanced [ very The capability, capture camera other can open interesting and the videos moments ] [indiscernible] BGM eager products when giving with that's you which competitiveness. generate see with for pets are such customers one with and intelligently is surprise suitable the app. differentiated pet they automatically [indiscernible] We that of GenAI

their we a helping and hand, other of usage and desired the thing also smart scenarios, barriers lowering connotations, the through smart scenarios technology. called into smart difficulty promoting capabilities use On GenAI and significantly users introducing consider authorization are

build and to GenAI related our platform experience we In GenAI half of also customers the of to new second through our developer continuing part platform competitiveness. XXXX, developers. developer the products is Additionally, more efficiency for the and improving will launch and the successively

structure unique Finally, leverage fully as the and Tuya's third point, Tuya's in operating margin have the quarter model. business value of financial second validated

in for [indiscernible] abundant for fact while update. the reflects existing the an our positive capable to direct quarter and with achieved partners, and and journey, right the XXXX. second to our first non-GAAP At special Tuya the us cash XXXX continue to further [indiscernible] non-GAAP now half this foundation, shareholders a financial on sustaining profitability flow totaling from net achieved optimum experience the equivalent consecutive the other the the operating of development our non-GAAP for Tuya's who based results the long-term The time long-term have the forward, cash all company's solid distribution the value of excluding quarter the it's operational simply to $XX level, million, to start metric, to the solid share quarter profit this operating an and our that Tuya roughly success. That's we'll considering had this, sharing at This decisions first providing Tuya have approximately the already foundation, company's our dividend on Tuya's we Based support supported amount on believe business that we unrelated to improvements rewards first strive employees. time, others quarters same who model. put, X operating factors with net of and long-term margin. is moment cash Moving for business business for

CFO our to Executive Lastly, as her in from stepping will Jessie, you current down seen some have on September announcement, personal due role as endeavors. XX CFO, morning's of Director and this be may

and Over development business significant call her improving Jessie financial been her contributions the I this strategy thank would and and made growth. the and shaping opportunity for past profitability, management X to during our in company this operational expertise take to Tuya's efforts years, long-term in markets as capital contributions finance has the driving efficiency optimization and and over express to in to outstanding years. Their crucial the wishes Jessie X best like past to to

share data Jessie some financial additional with everyone. will Next,

Yao Liu

the development philosophy. Jerry, also for for strategies the sharing growth you, long-term words. Thank thanks your company's and kind And

financial the unless of was otherwise XXXX, note year-over-year all are stated. In are our comparisons our Please figures on discuss year-over-year. a and basis, in on XX.X% all will detail up Jerry. I total provide and quarter $XX.X million, covered Now revenue second U.S. dollars by that more results the numbers that reached

dollar that U.S. This achieved the would RMB, the financial the between profit margin XX%. non-GAAP Most profitability a our operational year-over-year been and positive quarter importantly, growth with results. Tuya's core Excluding this figures XX%. of demonstrate time of we and impact adverse are strategies efforts yielding exchange rates have solid for first

As Jerry in position. mentioned, we operational and that financial Tuya are fact a by is the encouraged stronger

PaaS a second revenue $XX.X of IoT growth the Our in XX%. representing year-over-year was quarter million,

serving revenue market, categories, normalization total XX% last product regional and Latin year-over-year the about for same nearly of clearly demand perspective, and accounted has is Overall, contributions seen maintain. On we XX% as robust experiencing strategy larger XX% operational our XX% which order to are electrical X/X while In The appliances region revenue continues quarter respectively. capital see to in nearly number serve a for see with the revenue we America's categories The contribution to year. saw the demand increased of XXXX, delivering demand quarter Pacific in customers' growth state is our to customer quarter. continuously evidence. efficiencies the on and a Regarding customers a demand, their with second Pacific across Asia same account X,XXX related and region per pyramid From Asia QX, the approximately home is fluctuation to -- around gross last and we growth however, about increase about to due accelerated significant revenue second an in to own XX% XX% contribution period have products year. from customer XX%, and the top-tier single similar downstream customers. And Europe downstream compared all placements of the rising the efforts customers per growth compared largest our due profit to year-over-year key with our a continued customer the regional demand. best of turnovers. product our of to increased America capita front, inventory QX, to lighting The structure of a to pleased slight demand to period be X/X total last decrease in of built The high-value of to highest partly the the the achieved a approximately Latin customer revenue growth accounting aim of year. year-over-year

an kitchen with by our including at our for The DBNER rebounded this XX-month XX.X% XXX% appliances, high-margin returning pet year-over-year. remaining home a points of was of percentage proportion to improvement of driven the improvement of as margin level products Additionally, around X quarter. has growth higher X portfolio, sequentially IoT and smart quarters, in a stable at healthy end this quarter, devices. was This PaaS and such

of $X.X year-over-year. recorded Our revenue approximately increase smart solutions XX.X% an million in QX, segment of

strong During smart devices. served such temperature outdoor, the competitiveness stickiness central results the us demand continued business achieve of energy for in device to as The in tool important control intelligence. smart has to for meet their control as quarter, and an solutions customer device and we increase solutions transformation saving

the solutions strategically, retail customers Jerry our projects. products providing form the they they with need smart desire, whether in past devices complement the commercial smart As earlier, for mentioned or market by

has profit win quality to revenue driven smart revenue with The while efficiency. as ecosystem our has Tuya improving win embedded well in volume, PBT established For with pricing solutions the the between growth X in synergy and through and our both as software. value leveraged

sector other million This of due cloud software $X.X services. for mix Revenue quarter on expectations margin consistent structuring. substantial. value-added as to such XXXX. a adjustments of our XX% the smart storage and overall others The of recorded remains of and gross in was and in in based solutions stable revenue quarter SaaS SaaS Cube cloud with second revenue services Our private was QX, high-value the

basis, the view on picture which clearer items activities detailed a give Regarding and provide a certain efficiency. operating non-GAAP operational a our expenses, I to will excludes of

to new and non-GAAP $XX $XX.X a a We operations, through management These effort year due by we expenses year. last operating ago, XXXX, and decreased improve basis. In were also continue results expenses as not we efficiency primarily internal internal team employee-related million expenses, embracing through compared strategy organization to on to of costs GenAI, and but GenAI present improve QX from technologies. of our million efficiencies. more reduced logistics largely non-GAAP quarter in comprehensive now sales and total second achieved maintain team continuous only marketing to Under the operating a XX.X% to development, optimization, to embracing marketing our our G&A R&D, our by streamlined are applying our

relatively workforce stable remain year. this Our expected to is

activity in of Regarding continue growth marketing strategy appropriately sales and we increasing activities revenue to market the activities, line and market adopt with needs.

by For hosting conference significant example, end attention May. we the of second in received the at Shenzhen in developer the quarter, global

September, to in IFA industry be will events major the the showcase bring in next where developers. GenAI participating new Berlin will experiences our can of we One and in early

marked On our over the increasing revenue hosting with industry costs control product's value and exhibitions growth, by stable help reduce own customers the quarter while operational hand, our first customers efficiency, strong costs, also our margin Driven and second influence. profitability. by other non-GAAP expenses gross excellent supported a will and in their ever strong by assisting enhanced proposition [indiscernible]

achievement requiring because business top additional Tuya's at profit We the are confident expenses. in this for line allows significant model growth without

This also which of non-GAAP a reached entered achieving a quarter operations, directly the for XX% profit milestone largely profit a Tuya that profit operating is that breakeven. this the second the result, business increments our has in indicates first around new into why is time phase as one will company, As translate margin self-sustaining.

income, the to for quarter, record interest additional operations. our we $XX.X in second continued approximately Finally, in capital million providing daily

follow strategy, our We the supplements. principle maximizing capital protection consistent continue to a prioritizing fund of while

our million, allowing thrilled reward and USD $XX.X about us $XX second cash Tuya with record. profit of continued supporters over our net are non-GAAP we quarter net end the exceed changes has and qualitative that performance by our solid Overall, dividends. a X our result, to a billion to cash cash the in quarter. now million, and a financial the believe in As new quarterly foundation, reached flow financial second setting Operating reached operational

financial Looking ahead, driving to healthy top performance. operating we are committed leverage, cash concludes shareholders' on the continue flow line company's and growth, This presentation my return.

And me reserve. Alex, and with as lot Over role colleague, significant our I advantages, communications, deeply a a and and a sustainable a member public proud raising the early before also growth capital experienced played road transformation. ample shows. succeeding market key for capital Alex to a past during that growth, and profitability X IPO will in Post respect, be and see has of attended competitive our company CFO fund- experiences. years, key Tuya was IPO, Tuya Tuya has healthy strong I investor financial today and I'm Co-Founder has he he stage joined, also become lot

join So for he us the session. Q&A will

Yi Yang

excited discussions I'm with engage in the everyone. in many future. you to Hello,

Yao Liu

With to we that, operator, are Thank questions. take you. ready

Operator

Morgan of is first the Instructions] Liu our Stanley. And with come to [Operator line question going from Yang

Yang Liu

half? last the can Let line growth? very we'll be given year, half starting will translate My second the be is a the demand question in in what the future sustained high growth XX% my [Interpreted] be from And facing outlook expected me almost about base second question. whether half top first

Yi Yang

the Yes. This Alex. question. Thanks is for

a and perspective. this address to question like I'd So external both specific from to

capabilities been years. macroeconomy demonstrated and crucial industry is and align Tuya's it over right company vision. past the a actions level, X has current strategy Thus, its as seize our is and opportunities environment to the within so embedded this with As that take

capitalize the more and the critical expand opportunity how even to on company face and competition itself However, market dynamics. position revenue of is in what's

the stabilized. we macroeconomic externally, has a after recovery year, of So observed half that the first in environment this

closely data global China quarter, which for serve supply within export as significant a first chain. the global You have followed the demand of might indicator and second half

and in data, approximately grew For example, in half customer Chinese driven household The from from year-on-year a replenishment robust U.S., by Asia. Southeast year. Europe is the appliances number of of the this like new by first factors inventory export to China like this a markets result. demand so According XX% emerging

seen beyond in just we've extend course, in security strong similar half in as devices and first Of lighting the with smart also other solidly. such home recovery growth appliances. performing products And smart categories, consumer trends

observable Additionally, non-smart in companies electronics consumer sectors have quite huge that in downstream market, we've noted some performance. also of shown

market positioning and to chain their this similar electronics our to value consumer stages in sectors. customers being With

basis. normal with Of the and season the course, seasonal and Black in seasons. data, QX have in might achieved a growth slowdown although volume, July This is relatively XX% you July the was is in noticed phenomenon momentum Christmas a a Friday. due a in year-on-year appliances month-on-month of export of electronics XX% on preparation peak off value household a still peak promotional by QX due there cyclical to while season, off-peak to consumer before and and is nature Generally, slightly

intelligence and Currently, next do. factors clearly. Tuya believe into In Jerry's Tuya operates context, industry is what outlined quite these presentation Tuya's positive earlier the should of a of needs the development. The focus in taking a the key cubic covering enterprises. So is model, state and comprehensively also strategy area has do will this account, question we

So axis customers. of represents the the diverse X needs

come meet and smart chain play. past poses intelligence into the is instance, their and cloud supply where smart of Cube smart cloud and but For business need some lack device private products software which end-to-end Others products device needs. complete where solutions Tuya's strong Tuya's capabilities, customer capability,

operational Tuya software like Some other required the products so cloud offers customers functions, storage. SaaS

of So space that's supported [indiscernible] for diversity, represents ecosystem industry saving, fully smart energy all electronics, retail Y-axis to smart the single scenarios from commercial industry the And X. Tuya by platform. covering efficiency, and products consumer multiple homes, specific everything categories

diversity. the geographical the So Z-axis represents lastly,

tackle foundation global As globe, providing and our developers ecosystem overall challenges our and business cloud of platform opportunities. the smart regional and a customers, seize service solid span providers, to performance partners

that in growth steady, and more Southeast impressive. European seen our America You've the but business are remains rate Latin Asia even

XX% has half first margin this revenue contributed in achieved the QX. year-on-year XX% growth significantly the So operation non-GAAP in to and

the and challenging that known of downstream an to this in second revenue high looking growth electronics provide well XXXX it's the QX it's to half base industries pattern the smart on of as So today. comparable ahead year-on-year due of year, to a accurate a year-on-year number consumer ordering period,

However, core the optimistic business above our half competitive in in and remain characteristics growth we considering year-on-year you. continuing together, this about the of second advantages Thank year. all

Operator

of going come And our Timothy the from next to Goldman Sachs. with Zhao line question is

Timothy Zhao

two questions [Interpreted] I have here.

The the year. first [indiscernible] one is old regarding this

[indiscernible]. after Secondly

Yao Liu

Thanks, Okay. Timothy.

our profitability. forward-looking I operating think question about your is view first the And long-term cash dividend. our is second about of question

question. I and will the take on question, Alex take will So first second our

non-GAAP something Reaching the is achieving a our the So is followed and margin of be achieving operating we XX% that be profitability model organization. efforts can is accomplished next. outcome. quarter not execution a breakeven significant the business something and milestone about and fundamentally this collective strong a to is by strategic It attempt considered decided entire on quarter first one the direction,

meaningful. the goal this of and our scale profit next continue margin to growth end, more to have profitability foundation the share. we with Moving and figures with revenue expand a we become being balance forward, that experiences solid we will that can To so

Thanks income business community model, our to statement platform, services rather customers revenue. enterprise not logic. investments to a to the significant First, to incremental do generate has make our we acquire clear developer financial need Tuya's and

portion. that directly means additional profit control a gross So effective profit this will generated translate cost into under significant the

result value. a competition business our market themselves reflect margins X across which combined is product gross margin segments, major gross structural of overall the Our and

growth year, of the alongside remain of considerable a fluctuations, current revenue profit profit gross in This seen source has the From our be the past is our stable our perspective, will gross profitability. and there margins the size team. gross profit overall. While and over efficient quarterly growth

have million seen of Since operating measures slightly growth non-GAAP downward been control -- us confidence have $XX return over cost we end Admittedly, quarters. to to in have With evident the given revenue past everyone. over to costs trend the has market XXXX, balancing the the consistently for leverage willing maintained our a expenses. Second, several remaining needed, sales maintaining and modestly ensuring operational Overall, every and are need investments spent increase profitability margins the we operating and overall, control we but level the as rigorously see a dollar will hope similar non-GAAP to side, on operating quarterly is that wisely. and to expenses QX.

net net control, to gains the capital margin Tuya expectation due Regarding considering and strive market of beyond supplementary to cuts while will interest protection. and profit profit volatility rate ensuring secure we financial

loss profit, cost as and for or and due quarterly some expenses to [indiscernible]. experience As share-based operating such class compensation the GAAP profit nonoperational fluctuations factors litigation they action may net

we And However, the go for Tuya's of judgment doesn't this believe dividend affect question. Alex fundamental the business operations. will

Yi Yang

Yes.

everyone. great is of a So to interest the topic dividend

special opportunity let announced. take the the expand So to me dividend

profitability So is all, noncash legal annual special of it a first Under not has business non-GAAP to to issue the or of expenses, there definition so relatively because a final dividend year difficult it's which full Tuya no GAAP, compensation large achieved from share-based called or due make compliance dividend earnings. standpoint.

net profit corresponds actual to $XX the the approximately million Tuya's half dividend year. of however, So this non-GAAP for first of amount

position considerations, cash base right profit. to these financial prioritize first based return and all on including while grow timing the and actual needs. build according We approach it amount flow, profit decision strategic indicators. this and the cash long-term can a and we believe and the performance relevant invest that model non-GAAP shareholder then on its core our ensuring other sustainable So is net dividend current Planning to net operating company level,

Yao Liu

go next question. Operator, for

Operator

to ] question going next of CICC. our And Kai the with is line Zao come from [

Unknown Analyst

Capital Congratulations regarding This [ Ben ] strong GenAI. ]. [ the the My question [Interpreted] is for quarter. Research from is

typical case, color mentioned, is such great. GenAI strategy be AI GenAI progress as AI customer further Tuya. further of you in key for customer the you your feedback and GenAI an functions, as some and share would investment Could progress some monetization budget As important well on your

Yi Yang

Yes. Yes.

devices AI actively which smart currently, speakers such smart rings, watches, several technology, the products smart glasses. GenAI covers So are and AI categories on developing so we as and based headphones smart

aim and their integrate products existing large capability top each intelligent further functions to a personalized user model provide experience. to So on of more

be to or So rings reports AI personalized for faces assistance. enhancing interactivity users, AI to generate GPT more example, will able smart watches voice watches through and

So AI And to currency the to headphones include support we translation smartization. to transcription capability and and future. transcription expand the real-time in plan

[indiscernible] So and like in popularity is well, gained they categories why which have Tuya's smart markets those ecosystem APAC emerging Japan.

of So better the addition significantly and Tuya's engagement user solutions, creating of GenAI customer capability will enhance competitiveness the experience.

expected development in are currently ourselves, projects trial those so enter So products quarter many with within under to intensively productions the fourth of year. this

version Chinese smart introduce for this launch gradually past speaker a GenAI developers. and the example, including into AI plan with in capability, to our QX, we capability For offering products

from overall, AI next smart begin So products year. to revenue software starting may devices manifest to gradually and

relevant monetization feasible we the believe So GenAI, of regarding are X there approaches.

they So they integrate into user as per to sold as GenAI their process consumers products see those the create GenAI can basis. capability features way, capability subscribe customers to the developers fit. use smartphone a for end products inherently and who which pay first This through downstream be will users on to can such is to

stable classic user SaaS at value a generated has the gain so a on additional end market our advantage differentiate payment revenue shares. terming is cost now we With through this model, imposing which helping have. customers, level products, thereby Tuya So of

or as solution The GenAI second is the products, including PaaS capability approach our smart as model. price additional appropriate within such an

who customers precisely So into the to allow of a smart desire and the to need excel benefit target it us business. is real have competitive the strong

So select business model we suitable and for category driving you. the and most scenarios. charge Thank will different

Operator

call, it any of back to hand like and management the closing end the now team to for reached We've the would I remarks.

Reg Chai

again, you, Thank Okay. for joining today. us

Have If in with you a good you. through earnings We look please to IR to Thank contact us feel call. forward or request questions, website. everyone our further free have today. speaking our day any next

Yi Yang

Thank you.

Operator

Thank This conference participating. concludes call. for today's you

transcript a marked You may by are have great on present an this disconnect. live were now [Interpreted] day. [Portions of spoken call.] Everyone, the that interpreter

Tuya (TUYA) 27 Aug 242024 Q2 Earnings call transcript