Tuya Inc., the operator of an Internet of Things (IoT) platform, has reported a significant improvement in its financial performance for the first quarter. The company’s revenue rose by 21.1% year-on-year to reach $74.7 million. Additionally, Tuya’s gross margin saw an improvement of 0.7 percentage points. This positive financial performance is attributed to the expansion of its premium client base. Tuya Inc. is listed on both the US and Hong Kong stock exchanges under the ticker symbols TUYA.US and 2391.HK, respectively.
