TUYA-W (02391) released its third quarter performance, with a net loss of 4.373 million USD, a year-on-year narrowing of 10.85%.

TUYA-W(02391) released its third-quarter performance as of September 30, 2024. The group's total revenue for the period was $81.617 million, an increase of approximately 33.6% year-on-year; net loss was $4.373 million, narrowing by 10.85% year-on-year; basic and diluted net loss per American depositary share was $0.01. The announcement stated that the increase in total revenue was mainly due to the growth in IoT PaaS revenue and smart solutions revenue. In the third quarter of 2024, there were approximately 2,200 IoT PaaS customers (third quarter of 2023: about 2,100). The total number of customers in the third quarter of 2024 was approximately 3,100 (third quarter of 2023: about 3,000). For the consecutive 12 months ending September 30, 2024, there were 286 high-quality IoT PaaS customers (third quarter of 2023: 263). In the third quarter of 2024, these high-quality IoT PaaS customers contributed approximately 85.6% of the IoT PaaS revenue (third quarter of 2023: approximately 83.5%).