Cloud Stocks: Tuya Counts On PaaS For Growth Within IoT

Tuya’s Financials

Tuya’s offerings have helped it expand revenues significantly. For the previous year, it reported revenues of $179.9, growing 70% over the year. Net loss was $66.9 million compared with a loss of $70.5 million in 2019.

Tuya has a host of companies it competes with, but none that offer the wide range of PaaS and SaaS offerings that it does. For instance, there are several smart home solutions providers like ADT, Vivint, and Viomi. And, then there are players like Johnson Controls and Universal Electronics that offer these smart solutions for the enterprise segment. Its PaaS focus will help to continue to drive its wider market reach.

Tuya went public in March on the NYSE at a list price of $21.00. It raised $915.4 million at the time of the IPO and was valued at $11.2 billion. Its stock is trading at $20.35 with a market capitalization of $11.2 billion. It reached a high of $25.86 soon after listing.

 

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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