Tuya Inc.

Tuya Inc. outlined a target gross margin range of 75% to 80% for its AI application and others segment during its second quarter 2026 earnings call. CFO Yi Yang said the segment currently hits 70% and the company aims to reach the higher range over time. Total revenue rose 16% year-over-year to $92.9 million, with PaaS revenue up 16.9% to $67.9 million and smart home and robot products revenue up 23.2% to $13.5 million. The company also launched Tuya CoBuilder, a developer tool using natural language to shorten AI hardware development cycles. Management noted demand recovery is gradual, with Europe strong in energy-related segments, the Middle East paused due to military conflict, and North America price-sensitive.

Tuya reported second-quarter 2026 revenue of $92.9 million, up 15.9% year-over-year and beating estimates by $5.07 million, while non-GAAP earnings per ADS of $0.03 came in line with expectations. Net cash generated from operating activities was $6.2 million, down from $18.2 million a year earlier. Total cash and investments stood at $976.1 million as of June 30, 2026, compared with $1,017.3 million at the end of 2025. Premium PaaS customers for the trailing twelve months reached 318, up from 285, and contributed about 89.5% of PaaS revenue. Registered AI developers surpassed 2,092,000, a 16.2% increase from approximately 1,801,000 at the end of 2025.

Emdoor Information officially launched its self-developed AI hub, Emdoor AI, at the 2026 World Artificial Intelligence Conference, and showcased solutions covering four major scenarios: personal, home, enterprise, and industrial. The company previously disclosed an earnings forecast indicating that for the first half of 2026, it expects to achieve a net profit attributable to shareholders of 176 million to 216 million yuan, a year-on-year increase of 1,442.02 percent to 1,792.48 percent, with non-recurring net profit of 88.6 million to 119.4 million yuan, up 634.15 percent to 889.37 percent year-on-year. The strong performance is driven by the deepening of its AI Plus strategy, with a focus on three major product lines: AI PCs, AIoT, and rugged smart terminals, as the acceleration of on-device AI commercialization brings structural opportunities. During the conference, Emdoor Information also signed a strategic cooperation agreement with Tuya Smart to promote device-cloud collaborative innovation in smart home and AIoT scenarios.