Tuya Updates Guidance for First Quarter of 2022
Tuya Inc. (NYSE: TUYA) has updated its revenue guidance for the first quarter of 2022, expecting total revenue between US$54 million and US$55 million. This is an increase from the previous estimate of US$50 million to US$57 million. However, the company warns that this estimate is subject to various risks, including economic fluctuations, COVID-19 impacts, and geopolitical tensions. Tuya is dedicated to building an IoT development ecosystem, offering a comprehensive platform for businesses and developers.
- Revenue guidance increased from US$50 million-$57 million to US$54 million-$55 million for Q1 2022.
- Potential risks affecting revenue include economic decline, COVID-19 uncertainty, and geopolitical tensions.
SANTA CLARA, Calif., March 28, 2022 /PRNewswire/ -- Tuya Inc. ("Tuya" or the "Company") (NYSE: TUYA), a global leading IoT cloud development platform, today provided an update to the prior guidance on its total revenue for the first quarter of 2022. Tuya currently expects its total revenue for the first quarter of 2022 to be between US
The Company cautions investors that such estimate only reflects the Company's expectations as of March 28, 2022 and is not guarantee of its future results or performance. The Company'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.
About Tuya Inc.
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.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company'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 "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company'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.
Investor Relations Contact
Tuya Inc.
Investor Relations
E-mail: ir@tuya.com
The Blueshirt Group
Gary Dvorchak, CFA
Phone: +1 (323) 240-5796
Email: gary@blueshirtgroup.com
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SOURCE Tuya Inc.
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