TUYA-W: 2024 ANNUAL REPORT

Graffiti Technology announced its fiscal year 2024 results, with revenue reaching $0.2986 billion, a year-on-year growth of 29.8%; it achieved a GAAP net profit of $5 million for the first time, and a non-GAAP net profit of $75.3 million, a significant year-on-year growth of 268.5%. As of December 31, 2024, the company's total cash and investments reached $1.0167 billion, and it announced a dividend of $0.0608 per share/ADS, totaling approximately $37 million, which will be paid in April 2025.From the perspective of business sectors, IoT PaaS revenue grew by 29.4% year-on-year to $0.2171 billion, SaaS and other revenue grew by 10.6% to $39.6 million, and intelligent solutions revenue surged by 58.3% to $42 million. By the end of 2024, the number of senior IoT PaaS customers reached 298, with over...Show More

Graffiti Technology announced its fiscal year 2024 results, with revenue reaching $0.2986 billion, a year-on-year growth of 29.8%; it achieved a GAAP net profit of $5 million for the first time, and a non-GAAP net profit of $75.3 million, a significant year-on-year growth of 268.5%. As of December 31, 2024, the company's total cash and investments reached $1.0167 billion, and it announced a dividend of $0.0608 per share/ADS, totaling approximately $37 million, which will be paid in April 2025.From the perspective of business sectors, IoT PaaS revenue grew by 29.4% year-on-year to $0.2171 billion, SaaS and other revenue grew by 10.6% to $39.6 million, and intelligent solutions revenue surged by 58.3% to $42 million. By the end of 2024, the number of senior IoT PaaS customers reached 298, with over 1.316 million registered IoT devices and Software Development developers.In the fourth quarter of 2024, the company launched its AI Agent platform and continued to strengthen partnerships with major Technology companies. Looking ahead, Graffiti Technology will continue to invest in AI and IoT capability building, focus on expanding the developer ecosystem, while closely monitoring the impacts of Global economic uncertainty and new tariff policies in the USA.