{"id":7118,"date":"2022-03-14T20:30:00","date_gmt":"2022-03-14T20:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3691037_CN91037_0"},"modified":"2022-03-14T20:30:00","modified_gmt":"2022-03-14T20:30:00","slug":"tuya-reports-fourth-quarter-and-fiscal-year-2021-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=7118","title":{"rendered":"Tuya Reports Fourth Quarter and Fiscal Year 2021 Unaudited Financial Results"},"content":{"rendered":"<div id=\"dvContent\" readability=\"413.18479958355\">\n<p><span><span class=\"xn-location\">SANTA CLARA, Calif.<\/span>, March 15, 2022 \/PRNewswire\/ &#8212; <\/span><span>Tuya Inc. (&#8220;Tuya&#8221; or the &#8220;Company&#8221;) (NYSE: TUYA), a global leading IoT cloud development platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended <span class=\"xn-chron\">December 31<\/span>, 2021.&nbsp; <\/span><\/p>\n<p><b><span>Fourth Quarter 2021 Financial Highlights <\/span><\/b><\/p>\n<ul type=\"disc\">\n<li><b><span>Total revenue<\/span><\/b><span> was <span class=\"xn-money\">US$75.0 million<\/span>, up approximately 19.0<\/span><span>%<\/span><span> year over year (4Q2020: US$<\/span><span>63.0<\/span><span> million). <\/span><\/li>\n<li><span><\/span><b><span>IoT PaaS revenue<\/span><\/b><span> was US$<\/span><span>62.1 <\/span><span>million, up approximately <\/span><span>13.9%<\/span><span> year over year (4Q2020: US$<\/span><span>54.5<\/span><span>million)<\/span><span>.<\/span> <\/li>\n<li><span><\/span><b><span>SaaS and other <\/span><\/b><b><span>revenue<\/span><\/b><span> <\/span><span>was US$<\/span><span>7.3<\/span><span> million, <\/span><span>up approximately <\/span><span>204.8%<\/span><span> year over year (4Q2020: US$<\/span><span>2.4<\/span><span> <\/span><span>million)<\/span><span>. <\/span><\/li>\n<li><span><\/span><b><span>Overall gross margin<\/span><\/b><span> for the quarter increased to <\/span><span>43.2%<\/span><span>, up <\/span><span>4.9<\/span><span> percentage points year over year (4Q2020: <\/span><span>38.3%<\/span><span>). Gross margin of IoT PaaS for the quarter increased to <\/span><span>42.5%<\/span><span>, up 2.4 percentage points year over year (4Q2020: <\/span><span>40.1%<\/span><span>).<\/span> <\/li>\n<li><span><\/span><b><span>Operating margin <\/span><\/b><span>for the quarter was negative 68.8<\/span><span>%<\/span><span>, down<\/span><span> <\/span><span>39.1 <\/span><span>percentage points year over year (4Q2020: negative <\/span><span>29.7%<\/span><span>). Excluding the impact of share-based compensation expenses, <b>non-GAAP operating margin<\/b> for the quarter was negative <\/span><span>45.3%<\/span><span>, down <\/span><span>20.5 <\/span><span>percentage points year over year (4Q2020: negative <\/span><span>24.8%<\/span><span>).<\/span> <\/li>\n<li><span><\/span><b><span>Total cash, cash equivalents, and short-term investments<\/span><\/b><span> were US$<\/span><span>1.07<\/span><span> billion as of <span class=\"xn-chron\">December 31, 2021<\/span>, compared to <span class=\"xn-money\">US$179.8 million<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>. <\/span><\/li>\n<li><span><\/span><b><span>Shares repurchased in the form of ADSs <\/span><\/b><span>for the quarter were approximately US$<\/span><span>25.1<\/span><span> million, representing approximately 1<\/span><span>2.5<\/span><span>% of the <span class=\"xn-money\">US$200 million<\/span> authorization announced pursuant to the currently effective share repurchase program.<\/span><\/li>\n<\/ul>\n<p><b><span>Full Year 2021 Financial Highlights<\/span><\/b><\/p>\n<ul type=\"disc\">\n<li><span><\/span><b><span>Total revenue <\/span><\/b><span>was <span class=\"xn-money\">US$302.1 million<\/span>, up approximately 67.9% year over year (2020: <span class=\"xn-money\">US$179.9 million<\/span>). <\/span><\/li>\n<li><span><\/span><b><span>IoT PaaS revenue<\/span><\/b><span> was <span class=\"xn-money\">US$261.4 million<\/span>, up approximately 72.3% year over year (2020: <span class=\"xn-money\">US$151.7 million<\/span>). <\/span><\/li>\n<li><span><\/span><b><span>SaaS and other <\/span><\/b><b><span>revenue<\/span><\/b><span> was <span class=\"xn-money\">US$18.6 million<\/span>, up approximately 203.0% year over year (2020: <span class=\"xn-money\">US$6.1 million<\/span>). <\/span><\/li>\n<li><span><\/span><b><span>Overall gross margin<\/span><\/b><span> was increased to 42.3% in the fiscal year 2021, up <\/span><span>7.9<\/span><span> percentage points year over year (2020: 34.4%).<\/span> <\/li>\n<li><span><\/span><b><span>Operating margin <\/span><\/b><span>was negative 60.8<\/span><span>% <\/span><span>in the fiscal year 2021, down<\/span><span> <\/span><span>22.0<\/span><span> percentage points year over year (2020: negative <\/span><span>38.8%)<\/span><span>. Excluding the impact of share-based compensation expenses, <b>non-GAAP operating margin<\/b> in the fiscal year 2021 was negative <\/span><span>38.9%<\/span><span>, down <\/span><span>5.3<\/span><span> percentage points year over year (2020: negative <\/span><span>33.6%<\/span><span>).<\/span> <\/li>\n<li><span><\/span><b><span>Shares repurchased in the form of ADSs<\/span><\/b><span> in the fiscal year 2021 were approximately US$<\/span><span>53.6<\/span><span> million, representing approximately <\/span><span>26.8<\/span><span>% of the <span class=\"xn-money\">US$200 million<\/span> authorization announced pursuant to the currently effective share repurchase program.<\/span><\/li>\n<\/ul>\n<p><b><span>Fourth Quarter and Fiscal Year 2021 Operating Highlights <\/span><\/b><\/p>\n<ul type=\"disc\">\n<li><span><\/span><b><span>IoT PaaS Customers<b><span>[1]<\/span><\/b><\/span><\/b><span> for the fourth quarter of 2021 and the fiscal year 2021 were approximately<\/span><span> <\/span><span>3<\/span><span>,<\/span><span>300<\/span><span> and 5,500, respectively<\/span><span>. Total customers for the fourth quarter of 2021 and the fiscal year 2021 were approximately<\/span><span> <\/span><span>4,800<\/span><span> and 8,400, respectively<\/span><span>.<\/span> <\/li>\n<li><span><\/span><b><span>Premium IoT PaaS customers<b><span>[2]<\/span><\/b><\/span><\/b><span> <\/span><span>for the trailing 12 months ended <\/span><span><span class=\"xn-chron\">December 31<\/span><\/span><span>, 2021 were<\/span><span> <\/span><span>311<\/span><span>. In the <\/span><span>fourth<\/span><span> quarter of 2021 and the fiscal year 2021, the Company&#8217;s premium IoT PaaS customers contributed approximately<\/span><span> <\/span><span>87.3<\/span><span>%<\/span><span> <\/span><span>and <\/span><span>88.6%<\/span><span> <\/span><span>of IoT PaaS revenue, respectively.<\/span> <\/li>\n<li><span><\/span><b><span>Dollar-based net expansion rate <\/span><\/b><b><span>(&#8220;DBNER&#8221;)<\/span><\/b><span><b><span><b><span>[3]<\/span><\/b><\/span><\/b><\/span><span> of IoT PaaS was<\/span><span> <\/span><span>153<\/span><span>%<\/span><span> for the trailing 12 months ended<\/span><span> <span class=\"xn-chron\">December 31<\/span><\/span><span>, 2021, compared to<\/span><span> <\/span><span>181<\/span><span>%<\/span><span> for the trailing 12 months ended<\/span><span> <span class=\"xn-chron\">December 31<\/span><\/span><span>, 2020, <\/span><span>maintaining<\/span><span> a <\/span><span>rela<\/span><span>tively high level for <\/span><span>nine<\/span><span> consecutive quarters since the Company began to track this metric for the trailing 12 months ended <span class=\"xn-chron\">December 31, 2019<\/span>, which was due to the Company&#8217;s ability to expand customers&#8217; usage of the Tuya platform over time and generate revenue growth from existing customers.<\/span> <\/li>\n<li><span><\/span><b><span>Registered IoT device and software developers<\/span><\/b><span>, or registered developers, were over<\/span><span> <\/span><span>510,000<\/span><span> as of <\/span><span><span class=\"xn-chron\">December 31<\/span><\/span><span>, 2021, up <\/span><span>94.7<\/span><span>%<\/span><span> from about <\/span><span>262,000<\/span><span> developers as of D<\/span><span>ecember<\/span><span> 31, 2020.<\/span><\/li>\n<\/ul>\n<p><span>Mr. Xueji (<span class=\"xn-person\">Jerry) Wang<\/span>, Founder and Chief Executive Officer of Tuya, commented, &#8220;<\/span><span>We are pleased with our performance in our first year as a publicly traded company, especially considering the extraordinary economic dislocations being caused by lingering COVID effects, macroeconomic uncertainties, and widespread supply chain constraints. Notably, our total number of customers increased to approximately 8,400 in 2021 while our DBNER remained above 150% as we are engaging more deeply with our customers.<\/span><span> During 2021, our core IoT PaaS business continued to expand in both geographic coverage and product categories. Importantly, the increasing penetration of IoT worldwide has demonstrated the immense market opportunities globally. There are thousands of product categories that can be made &#8216;smart&#8217; with connectivity, millions of products, and billions of individual units. Meanwhile, during the current <\/span><span>macroeconomic downturn, we will focus on homing in on our core competitive advantages, fortifying our market leadership, and optimizing our operating efficiency.<\/span><span> As we continue to strengthen our business fundamentals and optimize our operating efficiency, Tuya is well position to emerge as an industry leader setting the standards that connects all world&#8217;s devices.&#8221;<\/span><\/p>\n<p><span>Ms. <span class=\"xn-person\">Yao (Jessie) Liu<\/span>, Board Director and Chief Financial Officer of Tuya, added, &#8220;Our solid financial performance in our first year as a public company was highlighted by our total revenues reaching over <span class=\"xn-money\">US$300 million<\/span>. In addition, we further expanded our gross profit margin to 42.3% in 2021, despite the challenges in supply chain, international logistics, and high global inflation. Going forward, we are committed to building a solid foundation for us to pursue many opportunities in front of us, which entails continued investment in areas that will strengthen our R&amp;D capabilities and enhance our service offerings. While the recent resurgence of COVID-19 cases in <span class=\"xn-location\">China<\/span> created additional uncertainties in the short term, we believe that we are well-capitalized to whether the temporary storm and pursue our long-term goals. With over <span class=\"xn-money\">US$1 billion<\/span> in cash on hand and time deposits, we have the resources to extend further our competitive lead, both in technology and marketing. Meanwhile, we will also prioritize the <\/span><span>optimization of our organizational structure and operating efficiency to accelerate our timeline to profitability.&#8221;<\/span><\/p>\n<p><b><span>Fourth Quarter 2021 Unaudited Financial Results<\/span><\/b><\/p>\n<p><b><b><i><span>REVENUE <\/span><\/i><\/b><\/b><\/p>\n<p><span>Total revenue in the fourth quarter of 2021 increased by <\/span><span>19.0%<\/span><span> to US$<\/span><span>75.0<\/span><span> million from US$<\/span><span>63.0<\/span><span> million in the same period of 2020, mainly driven by the increase in IoT PaaS revenue.<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>IoT PaaS revenue <\/span><span>in the <\/span><span>fourth<\/span><span> quarter of 2021 <\/span><span>increased by <\/span><span>13.9%<\/span><span> to US$<\/span><span>62.1<\/span><span> million from US$<\/span><span>54.5<\/span><span> million in the same period of 2020, primarily driven by growth in the number of SKUs and product categories supported by IoT PaaS, increased sales to existing customers, and the acquisition of new customers.<\/span> <\/li>\n<li><span><\/span><span>SaaS and others revenue <\/span><span>in the <\/span><span>fourth<\/span><span> quarter of 2021 <\/span><span>increased by <\/span><span>204.8%<\/span><span> to <span class=\"xn-money\">US$7.3 million<\/span> from <span class=\"xn-money\">US$2.4 million<\/span> in the same period of 2020. The growth was mainly driven by increased market demand for sophisticate industry SaaS offerings and other value-added services as more brands and business operators started to recognize the value of pre-packaged industry-specific SaaS solutions, which enables them to focus on their core businesses instead of investing in the development of their own industry SaaS solutions. <\/span><\/li>\n<li><span><\/span><span>Smart device distribution revenue <\/span><span>in the <\/span><span>fourth<\/span><span> quarter of 2021 <\/span><span>decreased by 8.8<\/span><span>%<\/span><span> to <span class=\"xn-money\">US$5.6 million<\/span> from US$<\/span><span>6.2<\/span><span> million in the same period of 2020. The Company offers smart device distribution to provide convenience to customers, primarily brands and system integrators, who prefer not to deal with multiple OEMs. Smart device distribution revenue is mainly affected by changes in customer purchase patterns and demand for smart devices<\/span><span>.<\/span><\/li>\n<\/ul>\n<p><b><b><i><span>COST OF REVENUE<\/span><\/i><\/b><\/b><\/p>\n<p><span>Cost of revenue in the fourth quarter of 2021 increased by 9.6<\/span><span>%<\/span><span> to US$<\/span><span>42.6<\/span><span> million from US$<\/span><span>38.9<\/span><span> million in the same period of 2020, primarily due to the growth of the Company&#8217;s business.<\/span><\/p>\n<p><b><b><i><span>GROSS PROFIT AND GROSS MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Total gross profit in the fourth quarter of 2021 increased by <\/span><span>34.1%<\/span><span> to US$<\/span><span>32.4<\/span><span> million from US$<\/span><span>24.1<\/span><span> million in the same period of 2020. Gross margin increased to <\/span><span>43.2%<\/span><span> in the fourth quarter of 2021 from <\/span><span>38.3%<\/span><span> in the same period of 2020.<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>IoT PaaS gross margin in the <\/span><span>fourth<\/span><span> quarter of 2021 increased to <\/span><span>42.5%<\/span><span> from 40.1<\/span><span>%<\/span><span> in the fourth quarter of 2020,<\/span> <span>primarily due to the Company&#8217;s increased economies of scale, improved efficiency relating to IoT PaaS deployment achieved through effective research and development initiatives, and the expanding product lines.<\/span> <\/li>\n<li><span><\/span><span>SaaS and others gross margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was <\/span><span>73.4%<\/span><span>, compared to <\/span><span>73.8%<\/span><span> in the <\/span><span>fourth<\/span><span> quarter of 2020. <\/span><\/li>\n<li><span><\/span><span>Smart device distribution gross margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was <\/span><span>10.6%<\/span><span>,<\/span><span> compared to <\/span><span>8.8%<\/span><span> in the <\/span><span>fourth<\/span><span> quarter of 2020.<\/span><\/li>\n<\/ul>\n<p><b><b><i><span>OPERATING EXPENSES<\/span><\/i><\/b><\/b><\/p>\n<p><span>Operating expenses increased by <\/span><span>95.9%<\/span><span> to US$<\/span><span>83.9 <\/span><span>million in the <\/span><span>fourth<\/span><span> quarter of 2021 from US$<\/span><span>42.8<\/span><span> million in the same period of 2020. Operating expenses, excluding share-based compensation expenses of US$<\/span><span>17.6<\/span><span> million, were US$<\/span><span>66.3 <\/span><span>million in the <\/span><span>fourth<\/span><span> quarter of 2021 compared to <span class=\"xn-money\">US$3<\/span><\/span><span>9.8<\/span><span> million in the same period of 2020 (excluding share-based compensation expenses of US$<\/span><span>3.1<\/span><span> million).<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>Research and development expenses in the fourth quarter of 2021 were US$<\/span><span>46.2<\/span><span> million, up 81.4<\/span><span>%<\/span><span> from US$<\/span><span>25.5<\/span><span> million in the same period of 2020, primarily due to the increase in share-based compensation expenses from <span class=\"xn-money\">US$1.0 million<\/span> in the fourth quarter of 2020 to <span class=\"xn-money\">US$4.1 million<\/span> in the fourth quarter of 2021 and the addition of experienced research and development personnel as a part of the Company&#8217;s long-term development strategy. As of <span class=\"xn-chron\">December 31, 2021<\/span>, the Company&#8217;s research and development employees were up approximately 56% year over<\/span><span> year. <\/span><span>Without the effect of share-based compensation expenses, research and development expenses as a percentage of revenue increased to <\/span><span>56.2%<\/span><span> in the fourth quarter of 2021 from <\/span><span>38.9%<\/span><span> in the same period of 2020.<\/span> <\/li>\n<li><span><\/span><span>Sales and marketing expenses <\/span><span>in the <\/span><span>fourth<\/span><span> quarter of 2021 <\/span><span>were <span class=\"xn-money\">US$18.4 million<\/span>, up 56.3<\/span><span>%<\/span><span> from US$<\/span><span>11.8<\/span><span> million in the same period of 2020, primarily due to the increase in share-based compensation expenses from US$<\/span><span>0.4<\/span><span> million to US$<\/span><span>1.6 <\/span><span>million and the increase in employee-related costs<\/span><span>. <\/span><span>Without the effect of share-based compensation expenses, <\/span><span>sales and marketing expenses as a percentage of revenue increased to <\/span><span>22.4%<\/span><span> in the fourth quarter of 2021 from <\/span><span>18.1%<\/span><span> in the same period of 2020.<\/span> <\/li>\n<li><span><\/span><span>General and administrative expenses in the fourth quarter of 2021 were US$<\/span><span>21.0<\/span><span> million, up <\/span><span>237.8%<\/span><span> from US$<\/span><span>6.2<\/span><span> million in the same period of 2020, primarily due to the increase in share-based compensation expenses from US$<\/span><span>1.7<\/span><span> million to US$<\/span><span>11.9<\/span><span> million, the increase in employee-related costs, and professional services expenses. <\/span><span>Without the effect of share-based compensation expenses, <\/span><span>general and administrative expenses as a percentage of revenue increased to <\/span><span>12.2%<\/span><span> in the fourth quarter of 2021 from <\/span><span>7.2%<\/span><span> in the same period of 2020.<\/span> <\/li>\n<li><span><\/span><span>Other operating incomes in the fourth quarter of 2021 were US$<\/span><span>1.7<\/span><span> million, primarily due to the receipt of software value-added tax refund and various general subsidies for enterprises.<\/span><\/li>\n<\/ul>\n<p><b><b><i><span>LOSS FROM OPERATIONS AND OPERATING MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Loss from operations was US$<\/span><span>51.6<\/span><span> million in the <\/span><span>fourth<\/span><span> quarter of 2021, compared to <span class=\"xn-money\">US$1<\/span><\/span><span>8.7<\/span><span> million in the same period of 2020. <\/span><span>Non-GAAP loss from operations was US$<\/span><span>33.9<\/span><span> million in the <\/span><span>fourth<\/span><span> quarter of 2021, compared to <span class=\"xn-money\">US$1<\/span><\/span><span>5.7<\/span><span> million in the same period of 2020. <\/span><\/p>\n<p><span>Operating margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was negative <\/span><span>68.8%<\/span><span>, down <\/span><span>39.1<\/span><span> percentage points from negative 2<\/span><span>9.7<\/span><span>% in the same period of 2020. Non-GAAP operating margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was negative <\/span><span>45.3%<\/span><span>, down <\/span><span>20.5<\/span><span> percentage points from negative <\/span><span>24.8<\/span><span>% in the same period of 2020.<\/span><\/p>\n<p><b><b><i><span>NET LOSS AND NET MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Net loss was US$<\/span><span>48.8<\/span><span> million in the fourth quarter of 2021, compared to <span class=\"xn-money\">US$18.4 million<\/span> in the same period of 2020. Non-GAAP net loss was US$<\/span><span>31.2 <\/span><span>million in the fourth quarter of 2021, compared to US$<\/span><span>15.3<\/span><span> million in the same period of 2020. <\/span><\/p>\n<p><span>Net margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was negative <\/span><span>65.2%<\/span><span>, down <\/span><span>36.0<\/span><span> percentage points from negative 2<\/span><span>9.2<\/span><span>% in the same period of 2020. Non-GAAP net margin in the <\/span><span>fourth<\/span><span> quarter of 2021 was negative <\/span><span>41.6%<\/span><span>, down <\/span><span>17.3<\/span><span> percentage points from negative <\/span><span>24.3<\/span><span>% in the same period of 2020.<\/span><\/p>\n<p><b><b><i><span>BASIC AND DILUTED NET<\/span><\/i><\/b><span>&nbsp;<\/span><b><i><span>LOSS PER ADS<\/span><\/i><\/b><\/b><\/p>\n<p><span>Basic and diluted net loss per American Depositary Share (&#8220;ADS&#8221;) were US$<\/span><span>0.09<\/span><span> in the fourth quarter of 2021, compared to US$<\/span><span>0.08<\/span><span> in the same period of 2020. Each ADS represents one Class A ordinary share. <\/span><\/p>\n<p><span>Non-GAAP basic and diluted net loss per ADS were US$<\/span><span>0.06<\/span><span> in the fourth quarter of 2021, compared to US$<\/span><span>0.07<\/span><span> in the same period of 2020. <\/span><\/p>\n<p><b><b><i><span>CASH AND CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS<\/span><\/i><\/b><\/b><\/p>\n<p><span>Tuya had cash and cash equivalents, and short-term investments of US$<\/span><span>1.07<\/span><span> billion as of <\/span><span><span class=\"xn-chron\">December 31<\/span><\/span><span>, 2021<\/span><span>, which the Company believes is sufficient to meet its current liquidity and working capital needs. <\/span><\/p>\n<p><b><b><i><span>NET CASH USED IN OPERATING ACTIVITIES<\/span><\/i><\/b><\/b><\/p>\n<p><span>Net cash used in operating activities for the fourth quarter of 2021 was US$<\/span><span>53.2<\/span><span> million, or <\/span><span>71.0%<\/span><span> of revenue, compared to US$<\/span><span>9.0 <\/span><span>million, or <\/span><span>14.3%<\/span><span> of revenue in the fourth quarter of 2020. The year-over-year increase in net cash used in operating activities was mainly due to the increase in employee-related expenses and working capital changes in the ordinary course of business.<\/span><\/p>\n<p><b><b><i><span>SHARE REPURCHASE <\/span><\/i><\/b><\/b><\/p>\n<p><span>During the quarter ended <span class=\"xn-chron\">December 31, 2021<\/span>, the Company repurchased approximately 4.3 million of ADSs representing the same number of Class A ordinary shares from the open market for a total consideration of <\/span><span>approximately <span class=\"xn-money\">US$25.1 million<\/span><\/span><span> pursuant to the currently effective share repurchase program announced on <span class=\"xn-chron\">August 30, 2021<\/span>.<\/span><\/p>\n<p><b><b><i><span>OUTSTANDING ORDINARY SHARES UNDER EQUITY INCENTIVE PLAN<\/span><\/i><\/b><\/b><\/p>\n<p><span>On <span class=\"xn-chron\">October 18, 2021<\/span>, 5.0 million of Class A ordinary shares were issued by the Company to Bank of New York Mellon (&#8220;BNY&#8221;), the depositary of ADSs, in exchange for the same number of ADSs for future delivery of share-based awards to employees pursuant to the Company&#8217;s 2015 Equity Incentive Plan, as amended from time to time (the &#8220;Plan&#8221;).<\/span><\/p>\n<p><b><b><i><span>STRATEGIC INVESTMENTS<\/span><\/i><\/b><\/b><\/p>\n<p><span>Tuya regularly makes equity investments in both private and public companies to enhance the development of our IoT ecosystem.&nbsp; In the fourth quarter of 2021, the Company <\/span><span>invested in several IoT-related private companies<\/span><span>. As of <span class=\"xn-chron\">December 31, 2021<\/span>, the total balance of these investments amounted to <span class=\"xn-money\">US$30.7 million<\/span>.<\/span><\/p>\n<p><b><span>Fiscal Year 2021 Unaudited Financial Results<\/span><\/b><\/p>\n<p><b><b><i><span>REVENUE <\/span><\/i><\/b><\/b><\/p>\n<p><span>Total revenue in 2021 increased by <\/span><span>67.9%<\/span><span> to US$<\/span><span>302.1<\/span><span> million from US$<\/span><span>179.9<\/span><span> million in 2020, mainly driven by the increase in IoT PaaS revenue.<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>IoT PaaS revenue<\/span><span> in 2021 <\/span><span>increased by <\/span><span>72.3%<\/span><span> to US$<\/span><span>261.4<\/span><span> million from US$<\/span><span>151.7<\/span><span> million <\/span><span>in <\/span><span>2020.<\/span> <\/li>\n<li><span><\/span><span>SaaS and others revenue <\/span><span>in 2021 <\/span><span>increased by <\/span><span>203.0%<\/span><span> to <span class=\"xn-money\">US$18.6 million<\/span> from <span class=\"xn-money\">US$6.1 million<\/span> in 2020.<\/span> <\/li>\n<li><span><\/span><span>Smart device distribution revenue of <span class=\"xn-money\">US$22.2 million<\/span> in 2021 was flat, compared to <span class=\"xn-money\">US$22.1 million<\/span> in 2020. <\/span><\/li>\n<\/ul>\n<p><b><b><i><span>COST OF REVENUE<\/span><\/i><\/b><\/b><\/p>\n<p><span>Cost of revenue in 2021 increased by 47.7<\/span><span>%<\/span><span> to US$<\/span><span>174.2<\/span><span> million from US$<\/span><span>117.9<\/span><span> million in 2020.<\/span><\/p>\n<p><b><b><i><span>GROSS PROFIT AND GROSS MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Total gross profit in 2021 increased by <\/span><span>106.4%<\/span><span> to US$<\/span><span>127.9<\/span><span> million from US$<\/span><span>61.9<\/span><span> million in 2020. Gross margin increased to <\/span><span>42.3%<\/span><span> in 2021 from <\/span><span>34.4%<\/span><span> in 2020.<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>IoT PaaS gross margin in 2021 increased to <\/span><span>42.4%<\/span><span> from 35.9<\/span><span>%<\/span><span> in 2020.<\/span> <\/li>\n<li><span><\/span><span>SaaS and others gross margin in 2021 was <\/span><span>73.7%<\/span><span>, compared to <\/span><span>75.6%<\/span><span> in 2020. <\/span><\/li>\n<li><span><\/span><span>Smart device distribution gross margin in<\/span><span> <\/span><span>2021 was <\/span><span>14.9%<\/span><span>,<\/span><span> compared to <\/span><span>13.0%<\/span><span> in 2020.<\/span><\/li>\n<\/ul>\n<p><b><b><i><span>OPERATING EXPENSES<\/span><\/i><\/b><\/b><\/p>\n<p><span>Operating expenses in 2021 increased by<\/span><span> 136.3%<\/span><span> to US$<\/span><span>311.4 <\/span><span>million from US$<\/span><span>131.8<\/span><span> million in 2020. Operating expenses, excluding share-based compensation expenses of US$<\/span><span>66.1<\/span><span> million, were US$<\/span><span>245.3<\/span><span> million in 2021 compared to US$<\/span><span>122.3<\/span><span> million in 2020 (excluding share-based compensation expenses of US$<\/span><span>9.4<\/span><span> million).<\/span><\/p>\n<ul type=\"disc\">\n<li><span><\/span><span>Research and development expenses in 2021 were <span class=\"xn-money\">US$174.3 million<\/span>, up 125.1% from <span class=\"xn-money\">US$77.4 million<\/span> in 2020. Without the effect of share-based compensation expenses, research and development expenses as a percentage of revenue increased to <\/span><span>52.9%<\/span><span> in 2021 from 41.6<\/span><span>%<\/span><span> in 2020.<\/span> <\/li>\n<li><span><\/span><span>Sales and marketing expenses <\/span><span>in 2021 <\/span><span>were <span class=\"xn-money\">US$75.4 million<\/span>, up 100.7<\/span><span>%<\/span><span> from US$<\/span><span>37.6<\/span><span> million in 2020. <\/span><span>Without the effect of share-based compensation expenses, <\/span><span>sales and marketing expenses as a percentage of revenue increased to <\/span><span>22.7%<\/span><span> in 2021 from <\/span><span>20.0%<\/span><span> in 2020.<\/span> <\/li>\n<li><span><\/span><span>General and administrative expenses in 2021 were US$<\/span><span>71.6<\/span><span> million, up <\/span><span>300.7%<\/span><span> from US$<\/span><span>17.9<\/span><span> million in 2020. <\/span><span>Without the effect of share-based compensation expenses, <\/span><span>general and administrative expenses as a percentage of revenue increased to <\/span><span>8.9%<\/span><span> in 2021 from <\/span><span>7.0%<\/span><span> in 2020.<\/span> <\/li>\n<li><span><\/span><span>Other operating incomes in 2021 were US$<\/span><span>9.8<\/span><span> million.<\/span><\/li>\n<\/ul>\n<p><b><b><i><span>LOSS FROM OPERATIONS AND OPERATING MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Loss from operations was US$<\/span><span>183.6<\/span><span> million in 2021, compared to US$<\/span><span>69.8<\/span><span> million in 2020. Non-GAAP loss from operations was US$<\/span><span>117.5<\/span><span> million in 2021, compared to US$<\/span><span>60.4<\/span><span> million in 2020. <\/span><\/p>\n<p><span>Operating margin in 2021 was negative <\/span><span>60.8%<\/span><span>, down <\/span><span>22.0<\/span><span> percentage points from negative <\/span><span>38.8<\/span><span>% in<\/span><span> <\/span><span>2020. Non-GAAP operating margin in 2021 was negative <\/span><span>38.9%<\/span><span>, down <\/span><span>5.3<\/span><span> percentage points from negative <\/span><span>33.6<\/span><span>% in 2020.<\/span><\/p>\n<p><b><b><i><span>NET LOSS AND NET MARGIN<\/span><\/i><\/b><\/b><\/p>\n<p><span>Net loss was US$<\/span><span>175.4<\/span><span> million in 2021, compared to <span class=\"xn-money\">US$66.9 million<\/span> in 2020. Non-GAAP net loss was US$<\/span><span>109.3 <\/span><span>million in 2021, compared to US$<\/span><span>57.5<\/span><span> million in 2020. <\/span><\/p>\n<p><span>Net margin in 2021 was negative <\/span><span>58.1%<\/span><span>, down <\/span><span>20.9<\/span><span> percentage points from negative <\/span><span>37.2<\/span><span>% in 2020. Non-GAAP net margin in 2021 was negative <\/span><span>36.2%<\/span><span>, down <\/span><span>4.3<\/span><span> percentage points from negative <\/span><span>31.9<\/span><span>% in 2020.<\/span><\/p>\n<p><b><b><i><span>BASIC AND DILUTED NET<\/span><\/i><\/b><span>&nbsp;<\/span><b><i><span>LOSS PER ADS<\/span><\/i><\/b><\/b><\/p>\n<p><span>Basic and diluted net loss per ADS were US$<\/span><span>0.36<\/span><span> in 2021, compared to US$<\/span><span>0.30<\/span><span> in 2020. <\/span><\/p>\n<p><span>Non-GAAP basic and diluted net loss per ADS were US$<\/span><span>0.22<\/span><span> in 2021, compared to US$<\/span><span>0.26<\/span><span> in 2020. <\/span><\/p>\n<p><b><b><i><span>NET CASH USED IN OPERATING ACTIVITIES<\/span><\/i><\/b><\/b><\/p>\n<p><span>Net cash used in operating activities in 2021 was US$<\/span><span>126.1<\/span><span> million, or <\/span><span>41.7%<\/span><span> of revenue, compared to US$<\/span><span>49.2 <\/span><span>million, or <\/span><span>27.4%<\/span><span> of revenue in 2020.<\/span><\/p>\n<p><b><b><i><span>SHARE REPURCHASE <\/span><\/i><\/b><\/b><\/p>\n<p><span>During the full year of 2021, the Company repurchased approximately 7.0 million of ADSs representing the same number of Class A ordinary shares from the open market for a total consideration of approximately <span class=\"xn-money\">US$53.6 million<\/span> pursuant to the share repurchase program announced on <span class=\"xn-chron\">August 30, 2021<\/span>. <\/span><\/p>\n<p><b><b><i><span>OUTSTANDING ORDINARY SHARES UNDER EQUITY INCENTIVE PLAN<\/span><\/i><\/b><\/b><\/p>\n<p><span>In 2021, a total of 10.0 million of Class A ordinary shares were issued by the Company to BNY in exchange for the same number of ADSs for future delivery of share-based awards to employees pursuant to the Plan. <\/span><\/p>\n<p><b><span>Business Outlook<\/span><\/b><\/p>\n<p><span>The Company currently expects its total revenue for the first quarter of 2022 to be between <span class=\"xn-money\">US$50 million<\/span> and <span class=\"xn-money\">US$57 million<\/span>. <\/span><\/p>\n<p><span>The Company cautions investors that such estimate only reflects the Company&#8217;s expectations as of <span class=\"xn-chron\">March 14, 2022<\/span> and is not guarantee of its future results or performance. The Company&#8217;s actual future results and performances may differ materially from such estimate due to a variety of factors. These factors include, among other things, a decline or weakness in general economic conditions, uncertainty regarding the impacts of the COVID-19 pandemic, inflations, fluctuations in foreign exchange rates, and geopolitical tensions and conflicts. <\/span><\/p>\n<p><span>Historically, majority of the Company&#8217;s revenue for the first quarter of the year was recognized in March due to the Chinese New Year holidays. As of <span class=\"xn-chron\">March 14<\/span>, there is a substantial volume of the Company&#8217;s products to be delivered in coming weeks till March end, the revenue of which will be recognized upon confirmation of receipt by its customers. Very recently, a number of regions across <span class=\"xn-location\">China<\/span>, including <span class=\"xn-location\">Shenzhen<\/span>, <span class=\"xn-location\">Shanghai<\/span> and <span class=\"xn-location\">Hangzhou<\/span>, have seen new waves of COVID-19 cases. As various preventive measures are being implemented across these regions, the Company may experience delays in the delivery and acceptance of its products, which may in turn delay its revenue recognition. Given the foregoing uncertainties, the Company has provided its outlook in a relatively wide range. The Company plans to provide an updated guidance for its total revenue for the first quarter of 2022 in the coming weeks when the Company has more clarity regarding the severity of the above-mentioned logistics challenges. <\/span><\/p>\n<p><b><span>Conference Call Information<\/span><\/b><\/p>\n<p><span>The Company&#8217;s management will hold an earnings conference call at <span class=\"xn-chron\">08:00 P.M. Eastern Time on Monday<\/span>, March 14, 2022 (<span class=\"xn-chron\">08:00 A.M.<\/span> Beijing Time on <span class=\"xn-chron\">Tuesday, March 15, 2022<\/span>) &nbsp;to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including Direct Event passcode, a unique registrant ID, dial-in numbers, and an e-mail with detailed instructions to join the conference call.<\/span><\/p>\n<p><span>Online registration:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href=\"http:\/\/www.directeventreg.com\/registration\/event\/\" rel=\"nofollow\">http:\/\/www.directeventreg.com\/registration\/event\/<\/a> 9709158 <\/span><\/p>\n<p><span>&nbsp;<\/span><span>Conference ID: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9709158<\/span><\/p>\n<p><span>The replay will be accessible through <span class=\"xn-chron\">March 21, 2022<\/span> by dialing the following numbers:<\/span><\/p>\n<p><span>International:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; +1-800-585-8367<\/span><\/p>\n<p><span>United States:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; +1-416-621-4642<\/span><\/p>\n<p><span>Access Code:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; 9709158<\/span><\/p>\n<p><span>A live and archived webcast of the conference call will also be available at the Company&#8217;s investor relations website at <a href=\"https:\/\/ir.tuya.com\" rel=\"nofollow\">https:\/\/ir.tuya.com<\/a>.<\/span><\/p>\n<p><b><span>About Tuya Inc.<\/span><\/b><\/p>\n<p><span>Tuya Inc. (NYSE: TUYA) is a global leading IoT cloud development platform with a mission to build an IoT developer ecosystem and enable everything to be smart. Tuya has pioneered a purpose-built IoT cloud development platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers. Through its IoT cloud development platform, Tuya has enabled developers to activate a vibrant IoT ecosystem of brands, OEMs, partners and end users to engage and communicate through a broad range of smart devices. <\/span><\/p>\n<p><b><span>Use of Non-GAAP Financial Measures<\/span><\/b><\/p>\n<p><span>In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP operating expenses, non-GAAP loss from operations (including non-GAAP operating margin), non-GAAP net loss (including non-GAAP net margin), and non-GAAP basic and diluted net loss per ADS, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles in <span class=\"xn-location\">the United States of America<\/span> (&#8220;U.S. GAAP&#8221;). The Company defines non-GAAP measures by measures excluding the impact of share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. The Company also believes that the use of the non-GAAP measures facilitates investors&#8217; assessment of its operating performance.<\/span><\/p>\n<p><span>Non-GAAP measures are not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using aforementioned non-GAAP measures is that it does not reflect all items of expenses that affect the Company&#8217;s operations. Share-based compensation expenses have been and may continue to be incurred in the business and are not reflected in the presentation of non-GAAP measures. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating the Company&#8217;s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.<\/span><\/p>\n<p><span>Reconciliations of Tuya&#8217;s non-GAAP financial measures to the most comparable U.S. GAAP measures are included at the end of this press release. <\/span><\/p>\n<p><b><span>Safe Harbor Statement<\/span><\/b><\/p>\n<p><span>This press release contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995.&nbsp; Statements that are not historical facts, including statements about the Company&#8217;s beliefs, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;target&#8221;, &#8220;aim&#8221;, &#8220;estimate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;believe&#8221;, &#8220;potential&#8221;, &#8220;continue&#8221;, &#8220;is\/are likely to&#8221; or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company&#8217;s filings with the SEC. The forward-looking statements included in this press release are only made as of the date hereof, and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.<\/span><\/p>\n<p><b><span>Investor Relations Contact<\/span><\/b><\/p>\n<p><span>Tuya Inc.<br \/><\/span><span>Investor Relations<br \/><\/span><span>E-mail:<\/span> <span><a target=\"_blank\" href=\"mailto:ir@tuya.com\" rel=\"nofollow noopener\">ir@tuya.com<\/a> <\/span><\/p>\n<p><span>The Blueshirt Group<br \/><\/span><span><span class=\"xn-person\">Gary Dvorchak<\/span>, CFA<br \/><\/span><span>Phone: +1 (323) 240-5796<br \/><\/span><span>Email: <a target=\"_blank\" href=\"mailto:gary@blueshirtgroup.com\" rel=\"nofollow noopener\">gary@blueshirtgroup.com<\/a> <\/span><\/p>\n<p><span><\/span>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"21.5\">\n<tr>\n<td colspan=\"4\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED CONDENSED <\/span><\/b><b><span class=\"prnews_span\">CONSOLIDATED BALANCE SHEETS <\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">AS OF DECEMBER 31, 2020 AND 2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US<\/span><\/b><b><span class=\"prnews_span\">$ <\/span><\/b><b><span class=\"prnews_span\">thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of <\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31<\/span><\/b><b><span class=\"prnews_span\">,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">ASSETS<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Current assets<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158,792<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">963,938<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">163<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">638<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Short-term investments<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20,976<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">102,134<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accounts receivable, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,316<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32,701<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Notes receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,126<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,393<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Inventories, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42,267<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62,582<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Prepayments and other current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,393<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,882<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total current assets<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">248,033<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,191,268<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-current assets<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen6\" readability=\"7\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Property, equipment and software, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,374<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,805<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Operating lease right-of-use assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,267<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,181<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Long-term investments<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">920<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26,078<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other non-current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,729<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,818<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total non-current assets<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19,290<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,882<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total assets<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">267,323<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,248,150<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\"><\/span><\/b><\/span>&nbsp;<\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">LIABILITIES, MEZZANINE EQUITY AND <br \/><\/span><\/b><\/span><span class=\"prnews_span\"><b><span class=\"prnews_span\">SHAREHOLDERS&#8217; (DEFICIT)\/EQUITY<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Current liabilities <\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accounts payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,159<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,212<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Advance from customers<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,078<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31,088<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Deferred revenue, current<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,468<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,254<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accruals and other current liabilities <\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31,738<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">50,847<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Income tax payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">159<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Lease liabilities, current<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,326<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,697<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total current liabilities<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">91,928<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">109,098<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-current liabilities<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Lease liabilities, non-current<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,688<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16,048<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Deferred revenue, non-current<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">707<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">859<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,484<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total non-current liabilities<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,395<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,391<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total liabilities<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">98,323<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">134,489<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><span><\/span>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"9.5\">\n<tr>\n<td colspan=\"4\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED CONDENSED <\/span><\/b><b><span class=\"prnews_span\">CONSOLIDATED BALANCE SHEETS (CONTINUED)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">AS OF DECEMBER 31, 2020 AND<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of <\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Mezzanine equity<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Series A convertible preferred shares <\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Series A-1 convertible preferred shares <\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,680<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Series B convertible preferred shares<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Series C convertible preferred shares<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">115,007<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Series D convertible preferred shares<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">177,980<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total mezzanine equity<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">333,667<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><span><\/span>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"11\">\n<tr>\n<td colspan=\"4\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED<\/span><\/b><b><span class=\"prnews_span\"> CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">AS OF DECEMBER 31, 2020 AND 2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"4\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen29 prnpr8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of <\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">As of<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Shareholders&#8217; (deficit)\/equity<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Ordinary shares <\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Class A ordinary shares<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Class B ordinary shares<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Treasury stock<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(46,930)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,315<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,526,140<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Subscription receivables from shareholders<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accumulated other comprehensive income<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">481<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,320<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accumulated deficit<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(192,474)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(367,898)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total shareholders&#8217; (deficit)\/equity<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(164,667)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,113,661<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total liabilities, mezzanine equity and shareholders&#8217; (deficit)\/equity<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">267,323<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,248,150<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><span><\/span>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"18.5\">\n<tr>\n<td colspan=\"9\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"9\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED<\/span><\/b><b><span class=\"prnews_span\"> CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE <\/span><\/b><b><span class=\"prnews_span\">LOSS<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"9\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> T<\/span><\/b><b><span class=\"prnews_span\">hree<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Months <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\"><\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Year <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63,015<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74,967<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">179,874<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">302,076<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cost of revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(38,895)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(42,616)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(117,937)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(174,209)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Gross profit<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen30 prnpr8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">24,120<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32,351<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,937<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">127,867<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating expenses:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Research and development expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(25,467)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(46,187)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(77,430)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(174,289)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Sales and marketing expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,792)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,433)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(37,556)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(75,384)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">General and administrative expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,220)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21,011)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(17,868)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(71,589)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other operating incomes, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">654<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,724<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,071<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,835<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Total operating expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(42,825)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(83,907)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(131,783)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(311,427)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Loss from operations<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,705)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(51,556)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(69,846)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(183,560)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Other income\/(loss)<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other non-operating incomes, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">653<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,958<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Financial income, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">608<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,619<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,220<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,286<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen6\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Foreign exchange loss, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(267)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(425)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(80)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(618)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Loss before income tax expense<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,364)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,709)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,706)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(174,934)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(17)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(135)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(206)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(490)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss<\/span><\/b> <b><span class=\"prnews_span\">attributable to Tuya Inc.<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss attribute to ordinary shareholders<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other comprehensive income<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Changes in fair value of long-term investments<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">357<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">357<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Foreign currency translation<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,694<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,211<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,882<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,482<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Total comprehensive loss attributable to Tuya<br \/>Inc.<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(16,687)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(47,276)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(64,030)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(173,585)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tbody readability=\"13\">\n<tr>\n<td colspan=\"9\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"9\" class=\"prngen16\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED<\/span><\/b><b><span class=\"prnews_span\"> CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE <\/span><\/b><b><span class=\"prnews_span\">LOSS (CONTINUED)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"9\" class=\"prngen16\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen18\"><\/td>\n<td class=\"prngen18\"><\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbbs prnpl6 prnsblb0 prnpr6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> T<\/span><\/b><b><span class=\"prnews_span\">hree<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Months <\/span><\/b><b><span class=\"prnews_span\">Ended <\/span><\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td colspan=\"3\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbbs prntac prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Year <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\"><\/td>\n<td class=\"prngen12\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss attributable to Tuya Inc.<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss attributable to ordinary shareholders<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average number of ordinary shares<br \/>used in computing net loss per share, basic and<br \/>diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221,980,000<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">562,082,216<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221,980,000<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">489,149,533<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net loss per share attributable to ordinary<br \/>shareholders, basic and diluted<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.09)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.30)<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.36)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Share-based compensation expenses were<br \/>included in:<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Research and development expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">961<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,093<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,596<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,542<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Sales and marketing expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">404<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,634<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,529<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,702<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen21\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">General and administrative expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,687<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,900<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,321<\/span><\/p>\n<\/td>\n<td class=\"prngen17\"><\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">44,845<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"13\">\n<tr>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"11\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">UNAUDITED<\/span><\/b><b><span class=\"prnews_span\"> CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS <\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"11\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> T<\/span><\/b><b><span class=\"prnews_span\">hree<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Months <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td colspan=\"4\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Year <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net cash used in operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9,006)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(53,194)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(49,211)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(126,103)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net cash generated from\/(used in) investing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,537<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,627<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,852)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(112,957)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net cash (used in)\/generated from financing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(172)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(43,841)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(172)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,041,802<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of exchange rate changes on cash and cash<br \/><\/span><span class=\"prnews_span\">equivalents, restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,704<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,433<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,903<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,879<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Net increase\/(decrease) in cash and cash equivalents,<br \/>restricted cash<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,063<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(70,975)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(54,332)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">805,621<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash and cash equivalents, restricted cash at the <\/span><span class=\"prnews_span\">beginning<br \/>of period\/year<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">140,892<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,035,551<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213,287<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158,955<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Cash and cash equivalents, restricted cash at the end <br \/>of period\/year<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158,955<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">964,576<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158,955<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">964,576<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b><span><\/span><\/b>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"23.5\">\n<tr>\n<td colspan=\"9\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">TUYA INC.<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"9\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">RECONCILIATION&nbsp;OF&nbsp;NON-GAAP&nbsp;MEASURES&nbsp;TO&nbsp;THE&nbsp;MOST&nbsp;DIRECTLY&nbsp;COMPARABLE<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">FINANCIAL&nbsp;MEASURES<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td colspan=\"9\" class=\"prngen3\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">(All amounts in US$ thousands (&#8220;US$&#8221;), except for share and per share data, unless otherwise noted)<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the<\/span><\/b><b><span class=\"prnews_span\"> T<\/span><\/b><b><span class=\"prnews_span\">hree<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">Months <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr14\"><\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">F<\/span><\/b><b><span class=\"prnews_span\">or<\/span><\/b><b><span class=\"prnews_span\"> <\/span><\/b><b><span class=\"prnews_span\">the Year&nbsp; <\/span><\/b><b><span class=\"prnews_span\">Ended<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\"><\/td>\n<td class=\"prngen27\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prnsbts prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen27\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2020<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen27\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">December 31,<\/span><\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">2021<\/span><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Reconciliation of operating expenses to non-GAAP <br \/>operating expenses<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Research and development expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(25,467)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(46,187)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(77,430)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(174,289)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add:&nbsp;Share-based&nbsp;compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">961<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,093<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,596<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,542<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Adjusted Research and development expenses<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24,506)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(42,094)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(74,834)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(159,747)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Sales and marketing expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,792)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,433)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(37,556)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(75,384)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add:&nbsp;Share-based&nbsp;compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">404<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,634<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,529<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,702<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Adjusted Sales and marketing expenses<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,388)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(16,799)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(36,027)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(68,682)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">General and administrative expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,220)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21,011)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(17,868)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(71,589)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add:&nbsp;Share-based&nbsp;compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,687<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,900<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,321<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">44,845<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Adjusted General and administrative expenses<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,533)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9,111)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(12,547)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(26,744)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Reconciliation of loss from operations to non-GAAP<br \/>loss from operations<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss from operations<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,705)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(51,556)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(69,846)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(183,560)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add:&nbsp;Share-based&nbsp;compensation expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,052<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">17,627<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,446<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66,089<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-GAAP Loss from operations<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15,653)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(33,929)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(60,400)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(117,471)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-GAAP Operating margin<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30 prnpr4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24.8)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(45.3)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(33.6)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(38.9)%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Reconciliation of net loss to non-GAAP net loss<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18,381)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(48,844)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66,912)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(175,424)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen6\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add:&nbsp;Share-based&nbsp;compensation expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,052<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">17,627<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,446<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66,089<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-GAAP Net loss<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15,329)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(31,217)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(57,466)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(109,335)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-GAAP Net margin<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24.3)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(41.6)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(31.9)%<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(36.2)%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"6\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average number of ordinary shares used in<br \/>computing non-GAAP net loss per share, basic and<br \/>diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221,980,000<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">562,082,216<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221,980,000<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">489,149,533<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen6\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><span class=\"prnews_span\">Non-GAAP <\/span><\/b><b><span class=\"prnews_span\">net loss per share attributable to <br \/>ordinary shareholders, basic and diluted<\/span><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.07)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.06)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.22)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td class=\"prngen25\"><\/td>\n<td colspan=\"3\" class=\"prngen25\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><span><\/span>&nbsp;<\/p>\n<p><span>[1]<\/span><span> The Company defines an IoT PaaS customer for a given period as a customer who has directly placed orders for IoT PaaS with the Company during that period.<\/span><\/p>\n<p><span>[2]<\/span><span> The Company defines a premium IoT PaaS customer as a customer as of a given date that contributed more than <span class=\"xn-money\">US$100,000<\/span> of IoT PaaS revenue during the immediately preceding 12-month period.<\/span><\/p>\n<p><span>[3]<\/span><span> The Company calculates dollar-based net expansion rate of IoT PaaS for a trailing 12-month period by first identifying all customers in the prior 12-month period (i.e., those have placed at least one order for IoT PaaS during that period), and then calculating the quotient from dividing the IoT PaaS revenue generated from such customers in the current trailing 12-month period by the IoT PaaS revenue generated from the same group of customers in the prior 12-month period.<\/span><\/p>\n<p><span><\/span>&nbsp;<\/p>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN91037&amp;sd=2022-03-14\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/tuya-reports-fourth-quarter-and-fiscal-year-2021-unaudited-financial-results-301502097.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/tuya-reports-fourth-quarter-and-fiscal-year-2021-unaudited-financial-results-301502097.html<\/a><\/p>\n<\/p><\/div>\n<p>Source: Tuya Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SANTA CLARA, Calif., March 15, 2022 \/PRNewswire\/ &#8212; Tuya Inc. (&#8220;Tuya&#8221; or the &#8220;Company&#8221;) (NYSE: TUYA), a global leading IoT cloud development platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021.&nbsp; Fourth Quarter 2021 Financial Highlights Total revenue was US$75.0 million, up approximately 19.0% year over [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":7119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-7118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tuya Reports Fourth Quarter and Fiscal Year 2021 Unaudited Financial Results - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=7118\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tuya Reports Fourth Quarter and Fiscal Year 2021 Unaudited Financial Results - My Blog\" \/>\n<meta property=\"og:description\" content=\"SANTA CLARA, Calif., March 15, 2022 \/PRNewswire\/ &#8212; Tuya Inc. 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