Tuya Inc. (NYSE:TUYA) Q1 2025 Earnings Conference Call May 20, 2025 8:30 PM ET
Company Participants
Reg Chai – Investor Relations
Jerry Wang – Founder and CEO
Alex Yang – Co-Founder and CFO
Conference Call Participants
Yang Liu – Morgan Stanley
Timothy Chow – Goldman Sachs
Kai Xiao – CICC
John Roy – Water Tower Research
Operator
Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to Tuya Inc.’s First Quarter 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I’ll now turn the call over to your first speaker today, Mr. Reg Chai, Investor Relations Director of Tuya. Please go ahead, Reg.
Reg Chai
Thank you. Hello, everyone. Welcome to our first quarter 2025 earnings call. Joining us today are Founder and CEO of Tuya, Mr. Jerry Wang; and our Co-Founder and CFO, Mr. Alex Yang. The first quarter 2025 financial results and webcast of this conference call are available at ir.tuya.com. A replay of this call will also be available on our IR website in a few hours. Before we continue, I refer you to our Safe Harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements.
With that, I will now turn the call to our Founder and CEO, Mr. Jerry Wang. Jerry will deliver his remarks in Chinese, which will be followed by corresponding English translation. Jerry, please.
Jerry Wang
[Foreign Language] Hello, everyone. Thank you for joining Tuya’s earnings call for the first quarter of 2025. [Foreign Language] This quarter, building in a high gross base from Q1 last year, we achieved approximately 21% year-over-year revenue growth while maintaining a solid gross margin. Our stable team structure and organizational management supported a strong operating leverage coupled with the continued declining historical share-based compensation expenses, which
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