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Arbe Announces Q2 2024 Financial Results

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TEL AVIV, Israel, Aug. 6, 2024 /PRNewswire/ — Arbe Robotics Ltd. (Nasdaq: ARBE) (TASE: ARBE) (“Arbe”), a global leader in Perception Radar Solutions, today announced financial results for its second quarter, ended June 30, 2024.

 

 

Key Q2 and Recent Company Highlights:

Arbe’s chipset was selected by one of the top ten OEMs worldwide for the development of its next-generation imaging radar aimed at serial production. The selection of Arbe’s technology presents a significant commercial opportunity given its applicability across a wide range of vehicle classes.Arbe collaborates with a prominent European truck manufacturer to revolutionize truck safety with Arbe’s imaging radar. The manufacturer is set to integrate Arbe’s radar into its next-generation sensor suite as part of the transition to an advanced implementation stage.Arbe is actively engaged in achieving four design-ins with leading global automakers. Despite longer decision cycles, Arbe expects those decisions in the coming months.During the second quarter, Arbe participated in the final stages of OEM RFQ processes along with its Tier 1s: Magna, HiRain, Weifu, and Sensrad.The demand for high-channel count solutions is widespread across the board, and Arbe’s solution is recognized by leading OEMs as the radar with the largest channel array at the best price per channel.Arbe began trading on the Tel Aviv Stock Exchange (TASE) and issued convertible debentures totaling approximately $30 million to Israeli investors. This strategic move aims to bolster its cash reserves in anticipation of upcoming OEM selections. The proceeds from the debenture offering are held in escrow and will be released upon meeting certain conditions by March 31, 2025. 

“We are excited to announce that we have reached a significant milestone with two key customers. The selection of our imaging radar by both a leading OEM and a prominent European truck manufacturer validates our technology and highlights its market appeal. We are in the final stages of RFPs and RFQs with our Tier 1s, and we believe that we are on track to secure additional major OEM selections this year,” said Kobi Marenko, Chief Executive Officer. “Arbe is well-positioned to capitalize on the growing demand for advanced radar systems, and we anticipate an increase in sales and market share in the near future.”

Second Quarter 2024 Financial Highlights

Revenues for Q2 2024 were $0.4 million, an increase from $0.3 million in Q2 2023. Backlog as of June 30, 2024, was $0.8 million.

Negative gross margin for Q2 2024 was 9.5%, compared to negative gross margin of 1% in Q2 2023, mainly related to headcount increase.

Operating expenses in Q2 2024 were $11.6 million, compared to $12.6 million in Q2 2023. The decrease in operating expenses was primarily driven by a decrease in R&D materials and to a lesser extent due to a labor cost decrease, partially offset by doubtful debts provision and debt issuance costs. Research and Development decreased, from $9.1 million in Q2 2023 to $7.9 million in Q2 2024, the decrease was mainly related to finalization and maturing stages of production and labor cost savings. Sales and Marketing expenses decreased from $1.5 million in Q2 2023 to $1.4 million in Q2 2024, related to lower travel and conference expenses. General and Administrative expenses increased from $2.0 million in Q2 2023 to $2.3 million in Q2 2024, later include a one-time provision and offering fees.

As a result, our operating loss in Q2 2024 was $11.6 million compared to a $12.6 million loss in Q2 2023.

Net loss in the second quarter of 2024 decreased to $11.8 million, compared to a net loss of $12.6 million in the second quarter of 2023. Net loss in Q2 2024 included $0.1 million of financial expenses, consisting of foreign exchange revaluations offset by interest from deposits.

Adjusted EBITDA, a non-GAAP measurement which excludes expenses for non-cash share-based compensation and for non-recurring items, for Q2 2024, yielded a loss of $7.5 million, compared to a loss of $8.4 million in the second quarter of 2023.

Balance Sheet and Liquidity

As of June 30, 2024, Arbe had $8.8 million in cash and cash equivalents and $17.7 million in short term bank deposits. In June 2024, the Company issued convertible debentures in the principal amount of NIS 110,000,000 (approximately $30 million). The proceeds from the sale of the debentures, which were approximately NIS 112,400,000 (approximately $30.5 million), are held in escrow and will be released to the Company upon meeting certain conditions by March 31, 2025 (these funds are classified as other assets on our balance sheet). The Company has incurred losses from operations since its inception and has negative cash flow from operating activities. Considering management’s plans and the forecasted revenue, we will have sufficient funds to finance our operation needs in the foreseeable future.

Outlook

Our goal of achieving 4 design-ins with automakers remains unchanged, as we observe continued strong interest in our market-leading offering.We have strengthened our position in all our RFQ engagements, even though the OEMs have shifted their decision timelines from late 2023 to 2024.The 2024 annual revenues are expected to be in line with those of 2023, followed by revenue growth in 2025. These revenue projections are based on our expectation that we will be in full production in the second half of 2024, as well as our decision to exclusively focus on getting our chipset into production.We are committed to maintaining a strong and well-managed balance sheet, focusing on cost-effectiveness and the ability to fund our revenue growth. Adjusted EBITDA for 2024 is projected to be in the range of ($30) million to ($36) million.

Conference Call & Webcast Details

Arbe will host a conference call and webcast today at 8:30 am ET. Speakers will include Kobi Marenko, Chief Executive Officer, Co-Founder and Director, and Karine Pinto-Flomenboim, Chief Financial Officer. The Company encourages participants to pre-register for the conference call here. Callers will receive a unique dial-in upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

The live call may be accessed via:

U.S. Toll Free: 1-844-481-3015
International: 1-412-317-1880
Israel Toll Free: 1-809-212373

A telephonic replay of the conference call will be available until August 20, 2024, following the end of the conference call. To listen to the replay, please dial:

U.S. Toll Free: 1-877-344-7529 
International: 1-412-317-0088
Access ID: 6889354

A live webcast of the call can be accessed here or from Arbe’s Investor Relations website at https://ir.arberobotics.com/news/ir-calendar. An archived webcast of the conference call will also be made available on the website following the call.

Arbe (Nasdaq: ARBE) (TASE: ARBE), a global leader in Perception Radar Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe’s radar technology is 100 times more detailed than any other radar on the market and is a critical sensor for L2+ and higher autonomy. The company is empowering automakers, Tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm changing perception. Arbe, a leader in the fast-growing automotive radar market, is based in Tel Aviv, Israel, and has offices in China, Germany, and the United States.

Cautionary Note Regarding Forward-Looking Statements

This press release and the earnings call contains or will contain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words “expect,” “believe,” “estimate,” “intend,” “plan,” “anticipate,” “may,” “should,” “strategy,” “future,” “will,” “project,” “potential” and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These risks and uncertainties include, the effect on the Israeli economy generally and on the Company’s business resulting from the terrorism and the hostilities in Israel and with its neighboring countries including the effects of the continuing war with Hamas and any further intensification of hostilities with others, including Iran and Hezbollah, and the effect of the call-up of a significant portion of its working population, including the Company’s employees; the effect of any potential boycott both of Israeli products and business and of stocks in Israeli companies; the effect of any downgrading of the Israeli economy and the effect of changes in the exchange rate between the US dollar and the Israeli shekel; the Company’s ability to meet the conditions to the release from escrow of the proceeds from its recent sale of convertible debentures; the Company’s ability to generate additional OEM selections and substantial orders and the risk and uncertainties described in “Cautionary Note Regarding Forward-Looking Statements,” “Item 3. Key Information – D. Risk Factors” and “Item 5. Operating and Financial Review and Prospects” and in the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2024, as well as other documents filed by the Company with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Information contained on, or that can be accessed through, the Company’s website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.

Logo: https://mma.prnewswire.com/media/803813/Arbe_Robotics_Logo.jpg

 

 

 

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

 June 30, 2024 

December 31, 2023

Current Assets:

 (Unaudited) 

 (Unaudited) 

Cash and cash equivalents

8,840

28,587

Restricted cash

280

163

Short term bank deposits

17,683

15,402

Trade receivable 

694

1,258

Other assets

30,545

Prepaid expenses and other receivables

1,954

2,026

Total current assets

59,996

47,436

Non-Current Assets

Operating lease right-of-use assets

1,895

1,740

Property and equipment, net

1,434

1,309

Total non-current assets

3,329

3,049

Total assets

63,325

50,485

Current liabilities:

Trade payables

832

1,149

Operating lease liabilities

519

436

Employees and payroll accruals

3,265

2,916

Convertible debentures

29,982

Accrued expenses and other payables 

1,097

1,710

Total current liabilities

35,695

6,211

Long term liabilities

Operating lease liabilities

1,512

1,306

Warrant liabilities

607

875

Total long-term liabilities

2,119

2,181

SHAREHOLDERS’ EQUITY:

Ordinary Shares

 *) 

*)

Additional paid-in capital

253,702

245,733

Accumulated Deficit

(228,191)

(203,640)

Total shareholders’ equity

25,511

42,093

Total liabilities and shareholders’ equity

63,325

50,485

*) Represents less than $1.

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except share and per share data)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

 (Unaudited) 

(Unaudited)

(Unaudited)

(Unaudited)

Revenues

409

289

546

644

Cost of revenues

448

292

851

608

Gross profit (loss)

(39)

(3)

(305)

36

Operating Expenses:

Research and development, net

7,914

9,091

17,311

17,215

Sales and marketing

1,365

1,478

2,818

2,402

General and administrative

2,296

2,014

3,940

3,644

Total operating expenses

11,575

12,583

24,069

23,261

Operating loss

(11,614)

(12,586)

(24,374)

(23,225)

Financial expenses (income), net

132

25

177

(707)

Net loss

(11,746)

(12,611)

(24,551)

-22,518

Basic net loss per ordinary share 

(0.15)

(0.19)

(0.31)

(0.34)

Weighted-average number of
shares used in computing basic
net loss per ordinary share 

80,578,820

67,762,711

79,377,515

66,225,739

Diluted net loss per ordinary share 

(0.19)

(0.23)

(0.39)

(0.39)

Weighted-average number of
shares used in computing
diluted net loss per ordinary share 

64,204,137

56,450,209

63,390,411

58,419,059

 

 

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

Cash flows from operating activities:

 (Unaudited) 

(Unaudited)

(Unaudited)

(Unaudited)

Net Loss 

(11,746)

(12,611)

(24,551)

(22,518)

Adjustments to reconcile loss to net cash used in operating activities:

Depreciation

147

139

289

276

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Revaluation of warrants and accretion

(157)

(369)

(268)

(238)

Convertible debentures accretion

176

176

Change in operating assets and liabilities:

Decrease in trade receivable 

162

48

564

162

Decrease in prepaid expenses and other receivables 

245

330

72

504

Increase in other assets 

(128)

(128)

Operating lease ROU assets and liabilities, net

6

(8)

135

Decrease in trade payables 

(1,039)

(1,116)

(506)

(284)

Increase (decrease) in employees and payroll accruals

204

43

349

(550)

Decrease in accrued expenses and other payables

(72)

(499)

(766)

(3,706)

Net cash used in operating activities

(8,328)

(10,173)

(16,687)

(20,379)

Cash flows from investing activities:

Change in bank deposits

12,621

(25,602)

(2,281)

(25,202)

Purchase of property and equipment

(126)

(87)

(225)

(119)

Net cash provided by (used in) investing activities

12,494

(25,689)

(2,506)

(25,321)

Cash flows from financing activities:

Proceeds from issuance of ordinary shares, net of issuance costs 

22,496

22,496

Issuance costs related to convertible debentures

(459)

(459)

Proceeds from exercise of options

22

46

22

606

Net cash provided by (used in)
financing activities

(437)

22,542

(437)

23,102

Effect of exchange rate fluctuations on cash and cash equivalent

80

(574)

214

(66)

Increase (decrease) in cash, cash equivalents and restricted cash 

3,650

(12,746)

(19,844)

(22,532)

Cash, cash equivalents and restricted cash at the beginning of period

5,391

45,037

28,750

54,315

Cash, cash equivalents and restricted cash at the end of period

9,120

31,717

9,120

31,717

 

 

 

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS 

(U.S. dollars in thousands, except share and per share data)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

GAAP net loss attributable to ordinary shareholders

(11,746)

(12,611)

(24,551)

(22,518)

Add:

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Revaluation of warrants and accretion

(157)

(369)

(268)

(238)

Convertible debentures accretion

176

176

Non-recurring expenses related to convertible debentures and ATM

805

214

805

214

Non-GAAP net loss

(7,048)

(8,896)

(15,890)

(16,567)

Basic Non-GAAP net loss per ordinary share 

(0.09)

(0.13)

(0.20)

(0.25)

Weighted-average number of shares used in computing basic
Non-GAAP net loss per ordinary share

80,578,820

67,762,711

79,377,515

66,225,739

Diluted Non-GAAP net loss per ordinary share 

(0.09)

(0.16)

(0.14)

(0.29)

Weighted-average number of shares used in computing diluted
Non-GAAP net loss per ordinary share 

64,204,137

56,450,209

63,390,411

58,419,059

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(U.S. dollars in thousands)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

GAAP net loss attributable to ordinary shareholders

(11,746)

(12,611)

(24,551)

(22,518)

Add:

Financial expenses (income), net

132

25

177

(707)

Depreciation 

147

139

289

276

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Non-recurring expenses related to ATM

68

214

68

214

Adjusted EBITDA 

(7,526)

(8,363)

(16,070)

(16,760)

 

 

 

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SOURCE Arbe

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ASE Technology Holding Co., Ltd. Announces Monthly Net Revenues*

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TAIPEI, Jan. 10, 2025 /PRNewswire/ — ASE Technology Holding Co., Ltd. (NYSE: ASX, TAIEX: 3711, “ASEH” or the “Company”), announces its revised unaudited consolidated net revenues for December, 4th quarter and full year of 2024.

CONSOLIDATED NET REVENUES (UNAUDITED)

Dec

Nov

Dec

Sequential

YoY

(NT$ Million)

2024

2024

2023

Change

Change

Net Revenues

52,905

52,933

49,906

-0.1 %

+6.0 %

Dec

Nov

Dec

Sequential

YoY

(US$ Million)

2024

2024

2023

Change

Change

Net Revenues

1,632

1,648

1,589

-1.0 %

+2.6 %

 

Q4

 

Q3

 

Q4

 

Sequential

 

YoY

(NT$ Million)

2024

2024

2023

Change

Change

Net Revenues

162,264

160,105

160,581

+1.3 %

+1.0 %

Q4

Q3

Q4

Sequential

YoY

(US$ Million)

2024

2024

2023

Change

Change

Net Revenues

5,046

4,956

5,028

+1.8 %

+0.4 %

Full Year

Full Year

YoY

(NT$ Million)

2024

2023

Change

Net Revenues

595,410

581,914

+2.3 %

Full Year

Full Year

YoY

(US$ Million)

2024

2023

Change

Net Revenues

18,596

18,688

-0.5 %

 

Net revenues for ATM assembly, testing and material business are as follows:

ATM NET REVENUES (UNAUDITED)

Dec

Nov

Dec

Sequential

YoY

(NT$ Million)

2024

2024

2023

Change

Change

Net Revenues

29,858

29,185

26,218

+2.3 %

+13.9 %

Dec

Nov

Dec

Sequential

YoY

(US$ Million)

2024

2024

2023

Change

Change

Net Revenues

921

909

835

+1.3 %

+10.3 %

 

Q4

 

Q3

 

Q4

 

Sequential

 

YoY

(NT$ Million)

2024

2024

2023

Change

Change

Net Revenues

88,363

85,791

82,004

+3.0 %

+7.8 %

Q4

Q3

Q4

Sequential

YoY

(US$ Million)

2024

2024

2023

Change

Change

Net Revenues

2,747

2,655

2,568

+3.5 %

+7.0 %

Full Year

Full Year

YoY

(NT$ Million)

2024

2023

Change

Net Revenues

325,875

315,114

+3.4 %

Full Year

Full Year

YoY

(US$ Million)

2024

2023

Change

Net Revenues

10,178

10,128

+0.5 %

*This press release is intended to comply with Taiwan regulatory requirements.

Safe Harbor Notice:

This press release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors.  For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2022 Annual Report on Form 20-F filed on April 10, 2023.

Investor Relations Contact:

ir@aseglobal.com

Tel: +886.2.6636.5678

https://www.aseglobal.com

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SOURCE ASE Technology Holding Co., Ltd.

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Amrop, a Leading Global Executive Search and Leadership Consulting Firm, Announces New Office in Japan

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BRUSSELS, Jan. 10, 2025 /PRNewswire/ — Amrop, a leading global executive search and leadership consulting firm, appoints JOMON Associates as its new team in Tokyo, marking the group’s re-entry in the Japanese market and adding significant coverage in the Asia Pacific region.

Led by Naohiro Furuta, CEO, JOMON Associates is Japan’s premier leadership advisory firm, offering services in senior Executive Search, Board & Corporate Governance Consulting, Leadership Assessment and Executive Coaching.

With 13 consultants and a team of 30 employees, the firm serves more than 200 companies, constituting about one-third of Japan’s major companies and representing Japan’s key industry sectors, including Industrial & Automotive, Chemicals & Materials, Consumer & Retail, Pharmaceuticals & Healthcare, Finance & Insurance, IT and Telecommunications.

The firm’s deep connection to the local Japanese market is matched by its unsurpassed reputation for quality and its innovative approach to executive search. By offering personalized leadership advisory and board services in addition to its acclaimed recruitment solutions, JOMON Associates is well-positioned to support companies in their quest for transformative leaders.

Japan is a significant market for executive search and leadership consulting, and we are delighted welcome JOMON Associates to our global team,” says Annika Farin, Chair of the global Amrop Partnership. “We are now able to directly serve multinational companies operating in Japan as well as Japanese companies that are redefining boundaries as they follow their global or regional expansion strategies. Together with JOMON’s uncompromised quality approach and top market positioning, we can be instrumental in assisting these companies with the recruitment of their executive teams and attracting the best talent in new markets. “

“JOMON Associates shares our values and our ambition to continuing serving clients in the premium segment of the market. We feel naturally close to our new partners in Japan and are also proud to announce that Naohiro Furuta will immediately join our Board to help us drive the future of Amrop’s global partnership,” Farin added.

Naohiro Furuta, CEO JOMON Associates, added, “We are very pleased to announce that we have joined the global Amrop Partnership. As the global business environment becomes increasingly complex, the demand for strong and visionary leadership is higher than ever. Japanese companies are also strongly seeking talent to drive innovation and international competitiveness. Through our partnership with Amrop, we will provide our clients with valuable services that combine global insights and local expertise, making a significant impact on the domestic market and contributing to the international success of our clients.”

Amrop’s new Tokyo office is located at Tokyo Toranomon Global Square, 13th Floor, 1-3-1 Toranomon, Minato-ku, Tokyo. The addition of Japan office reinforces the group’s presence in the region, with teams in China, South Korea, India and Australia.

About Amrop

Amrop is a global leadership consulting firm, offering retained executive search, Board and leadership advisory services. We advise the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next – adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas across 69 offices in 57 countries.

Media Contact:

The Amrop Partnership SC
Rue Abbé Cuypers 3
1040 Brussels, Belgium
T. +32 471 733 825
E. contact@amrop.com
Brigitte Arhold, COO

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Tuya Smart Hosts Successful ‘Tuya Developer Day’ During CES 2025, Leading Industry Change with Innovative AI Technology

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, successfully hosted its highly anticipated Tuya Developer Day event during CES 2025.

This year’s CES theme “DIVE IN” brought innovators, decision-makers, visionaries, and potential partners from across the global tech companies and ecosystem to explore cutting-edge advancements shaping modern lifestyles. Building on this vision, Tuya embraced the theme “AI DIVE IN” for its showcase, spotlighting the transformative fusion of AI with smart products and innovative solutions to drive industry growth and evolution.

To further this mission, Tuya Developer Day welcomed distinguished representatives from leading global organizations, institutions, and enterprises to engage in in-depth discussions about AI trends and application prospects. The event provided developers with insights to unlock new business opportunities in the AI era.

At the beginning of the event, Alex Yang, Co- Founder, COO and CFO of Tuya Smart, delivered the opening keynote titled “AI DIVE IN.”

“We are currently witnessing an era of rapid advancement in AI. To help global developers leverage the power of AI, we’ve deeply integrated AI capabilities with the Tuya Cloud Developer Platform, strengthening three key areas: AI hardware development, AI Agent development, and AI infrastructure construction. These enhancements significantly simplify both workflows and development processes for developers,” Yang said. “Regarding AI Agent development, we’ve successfully integrated with leading models of OpenAI, Gemini, Claude, and Amazon Nova. By leveraging our AI Agent development platform and Tuya-enabled T3/T5 SoC modules, developers need only a single SDK to connect with any large language model, enabling seamless integration of audio, video, and other data types to create their ideal AI hardware products. Additionally, Tuya is committed to helping developers build practical and innovative AI solutions. In the energy sector, we’ve introduced features like AI energy analysis, AI energy-saving assistants, and AI energy optimization, which help users significantly reduce energy consumption. Furthermore, Tuya has partnered with industry leaders such as Apple and Amazon Web Services to achieve deeper ecosystem integration. Looking ahead, we aspire to collaborate with even more partners to launch innovative AI products and solutions that will lead the next wave of technological innovation.”

Amazon Web Services keynote: The Era of Generative AI Value Creation

Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development.

Olivier Bernard, Worldwide Smart Home GTM Lead of AWS highlighted the transformative potential of generative AI during his keynote. “Generative AI is rapidly becoming a transformative force in productivity, yet businesses often encounter challenges in building applications, such as data processing, model training, and resource allocation. Tuya Smart uses AWS’s leading generative AI technologies to deliver high-efficiency solutions, building an intelligent developer platform that significantly boosts productivity. With newly launched services of Amazon Bedrock, Amazon SageMaker and Amazon Q during 2024 AWS re:Invent, we look forward to deepening our collaboration with Tuya to further lower technical barriers for developers and unlock greater business value across industries,” said Bernard.

Amazon Alexa: Building the Ambient Home Together with Alexa

Customers have connected more than 400 million smart home devices to Alexa, and use Alexa hundreds of millions of times each week to control their devices. More than one million registered developers, brands, and device makers are creating conversational, natural, and proactive experiences with Alexa. Amazon offers a collection of tools, APIs, reference solutions, and documentation to make it easier for developers to build Alexa experiences for their customers.

“Our goal is to develop a diverse range of best-in-class products and services in collaboration with brands for users globally. By participating in our Works with Alexa certification program, they can deliver smarter, more reliable, and responsive products to users, enhancing the smart home living experience. A key focus for us is simplifying the device setup process. With Frustration-Free Setup, getting started with Alexa is as simple as opening the box. We will continue collaborating with Tuya to bring more seamless and intuitive smart home experiences to end-users,” said David Wurster, Senior Manager of Alexa Smart Home Business Development.

Connectivity Standards Alliance: A Connected Future with Matter

The Connectivity Standards Alliance is the foundation and future of the IoT. Their wide-ranging global membership is on a mission: to ignite creativity and collaboration in the Internet of Things by developing, evolving, and promoting universal open standards that enable all objects to securely connect and interact. The Connectivity Standards Alliance believes all objects can work together to enhance the way people live, work, and play.

“Matter is a unifying, IP-based connectivity protocol, empowering developers to build reliable and secure IoT ecosystems while enhancing user experiences,” said Tobin Richardson, President and CEO of the Connectivity Standards Alliance. “As a Board Member, Tuya, along with hundreds of other Members are dedicated to collaboratively advancing and evolving Matter in different use cases across the IoT. With the release of Matter 1.4 in November 2024, developers can now create more sophisticated smart devices by leveraging Tuya’s Cloud Developer Platform.”

Texas Instruments: Wireless Connectivity

Texas Instruments (TI) designs, manufactures, tests, and sells analog and embedded semiconductors that are the essential building blocks of electronic systems. With more than 80,000 products, it has the most comprehensive portfolio of general-purpose analog products, as well as a full breadth of analog and embedded products that help customers create differentiated applications.

Marian Kost, Vice President and General Manager of Connectivity at TI, highlighted the critical role of connectivity in enabling seamless operations across sectors like construction, retail, and healthcare. “Applications that are easy to operate and manage are essential for these industries, and stable connectivity technology is the backbone of such innovations,” Kost stated. “To simplify the development of connected applications, TI has partnered with Tuya Smart to integrate its SimpleLink™ wireless MCU (CC2340) technology into the Tuya Cloud Developer Platform. This collaboration combines TI’s high-performance, low-power connectivity solutions with Tuya’s versatile development tools.”

“By leveraging the power of the Tuya Cloud Developer Platform alongside TI’s advanced connectivity technology, businesses can rapidly create stable, reliable, and easy-to-manage applications. This partnership accelerates the intelligent transformation of industries, fostering innovation and driving development across the board,” Kost added.

Silicon Labs: AI/ML for Tiny Edge Devices

Silicon Labs is a trailblazer in wireless connectivity for the Internet of Things. Our integrated hardware and software platform, intuitive development tools, and unmatched ecosystem support make Silicon Labs the ideal long-term partner in building advanced industrial, commercial, and home and life applications. Silicon Labs lead the industry in high-performance, low-power, and security with support for the broadest set of multi-protocol solutions.

Fritz Werder, Senior Director at Silicon Labs, emphasized the transformative role of artificial intelligence and machine learning in shaping the future of the smart device industry. “AI and machine learning are increasingly crucial in driving innovation within the IoT industry. Silicon Labs’ AI/ML solutions focus on developing more efficient and advanced SoCs to enhance the performance of smart edge devices and support diverse application scenarios. In the future, Silicon Labs will continue collaborating with Tuya to empower device manufacturers, unlock new opportunities, and create a more intelligent and safer interconnected world.” said Fritz.

Positivo Tecnologia: A Unique Smart Home Experience in Brazil with an Exclusive App

Positivo Tecnologia, a leading Brazilian tech company, develops and markets a wide range of solutions, including computers, smartphones, tablets, smart home devices, electronic security systems, payment terminals, servers, and IT infrastructure. Known for its expertise in educational technologies and innovative projects, the company delivers products like self-service kiosks, and demographic data collection devices.

Serving consumers, businesses, schools, and public institutions, Positivo also provides IT equipment leasing, technical support, and managed services. Its diverse portfolio combines innovation and reliability, driving technological progress across Brazil.

“The rapid advancement of technology is not only reshaping the way we work but also profoundly enhancing our daily lives. Smart home solutions, as a key application of IoT, are revolutionizing living experiences. This progress relies heavily on engineering innovation and evolving business models,” said Rafael Sczcepanik, Business Director of Positivo. “Tuya’s cutting-edge technological expertise and strong global presence in the smart home sector make them an ideal partner for us. We are excited about the opportunity to collaborate and envision a smarter, more efficient, and sustainable future together.”

FiberX: Smart home success cases through internet providers in Brazil

Founded in 2008, FiberX distributes fiber optic network equipment in western Santa Catarina. Through hard work and dedication, FiberX has grown to become one of the largest companies in the sector, serving over 6,000 customers and delivering more than 7 million products nationwide. The company realized that its expertise could go beyond the ISP market and be applied to a variety of solutions involving technology and innovation. This led to the creation of new verticals and work teams, always guided by the same purpose: simplifying the complex.

“As a technology integrator, FiberX has made significant efforts to empower ISPs in attracting and retaining customers. In an environment where the adoption of AI is surpassing retail productivity, our smart home devices brand, Veld, is taking the lead in driving substantial change through advanced technologies and solutions that prioritize convenience, security, and innovation. By utilizing the Tuya Cloud Developer Platform and its extensive hardware ecosystem, we are committed to further enabling ISPs to enhance end-customers’ daily lives and cater to their evolving needs,” said Clayton Costa, Chief Product Officer of FiberX.

FOTILE: FOTILE Fully Embraces the Intelligence of Kitchen Space

FOTILE has always been committed to providing people with high-quality products and services, creating a healthy and environmentally-friendly lifestyle, and allowing more families to enjoy a happy and confident kitchen life. For the last 20 years, FOTILE has helped families around the world improve their kitchen environments and protect their health. FOTILE continues forging ahead for the happiness of hundreds of millions of families.

Guitao Yu, Director of the Intelligent Research Institute at FOTILE Group, commented, “In response to the evolving needs of modern living, FOTILE has leveraged AI algorithms and cutting-edge smart hardware to create the FOTILE Smart Kitchen System.This innovative system offers users a fully integrated, intelligent kitchen experience that combines safety, health, convenience, socialization and entertainment. To further elevate users’ quality of life, FOTILE has partnered with Tuya to launch a versatile recipe platform. This platform not only offers recipe management capabilities but also supports a variety of cooking modes, providing a personalized cooking experience for every user. Moving forward, we will continue to deepen our collaboration, expand the ecosystem, and further enrich the kitchen experience for our users.”

Pioneer Solutions: US/ Mexico Drayage and FTL

Founded in 2016 by a team of logistics professionals with a true passion for international trade, Pioneer Solution’s mission has always been to be the preferred freight forwarder serving and facilitating the logistics needs of other entrepreneurs and helping them realize their business’s full potential on a global scale.

The company’s expertise in connecting Trans-Pacific trade has enabled them to grow together with their customers. Headquartered in Los Angeles but with a strong global vision, Pioneer Solutions is a leading integrated logistics company comprising four business segments: NVOCC, Warehousing & Distribution, Customs Clearance & Trade Advisory, and Trucking.

Jose Torres, Logistics Director at Pioneer Solutions, stated, “In today’s logistics landscape, intelligence-driven solutions are crucial. Tuya, with its cutting-edge AI, cloud computing, and other technological capabilities, provides the tools we need to enhance the visibility and security of goods, optimize transportation and warehousing processes, proactively mitigate transportation risks, and significantly boost logistics efficiency. This partnership enables us to excel in the modern supply chain environment.”

Construlita: Creating smart buildings to improve profit and productivity

Construlita is a leading brand in commercial lighting for a range of settings, including workplaces, retail stores, restaurants, and hotels. To meet customers’ needs for lighting through knowledge, technology, and solutions that add value to lighting projects, it is constantly updating its solution portfolio with innovative technologies like IoT devices and smart platforms that are in line with global trends. This results in the creation of spaces full of captivating experiences that heighten end-users’ sense through light.

Roberto Enriquez Gómez, Vice President of Sales at Construlita, remarked, “In commercial buildings across Mexico, the electricity demand for lighting, HVAC, and air conditioning is notably high. To help these buildings reduce operating costs and improve profit margins, we have integrated the Tuya ecosystem. This system consolidates energy data from multiple buildings into a single platform for efficient energy management. Beyond energy optimization, it enhances the quality of life and job satisfaction for occupants, fostering greater productivity and well-being. Together, we are advancing the sustainable development of the construction industry.”

The successful “Tuya Developer Day” event at CES 2025 not only expanded Tuya’s market reach but also provided a platform for global developers to showcase their talents, fostering in-depth communication and sparking innovative collaboration. Moving forward, Tuya will continue to partner with developers worldwide, driving the integration of AI, cloud computing, and other advanced technologies across various scenarios. This collaboration will accelerate the pace of intelligent transformation and help co-create a new era of smart technology.

View original content:https://www.prnewswire.com/news-releases/tuya-smart-hosts-successful-tuya-developer-day-during-ces-2025-leading-industry-change-with-innovative-ai-technology-302347803.html

SOURCE Tuya Smart

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