Agora, Inc. 2025 Q4 Earnings March 2, 2026 Disclaimer Information in this presentation contains forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this presentation are forward-looking statements, including but not limited to s ...

Core Insights - Agora, Inc. reported its fifth consecutive quarter of GAAP profitability, marking its first full year of profitability since 2018, driven by sustained double-digit revenue growth [2] - The company achieved total revenues of $38.2 million in Q4 2025, a 10.7% increase from $34.5 million in Q4 2024, with Agora's revenues at $19.9 million, up 14.4% from $17.4 million [5][6] - The company is experiencing rapid adoption of its Conversational AI engine, with usage more than doubling each quarter since its launch in March 2025 [2] Fourth Quarter 2025 Highlights - Total revenues were $38.2 million, a 10.7% increase from $34.5 million in Q4 2024 [5][6] - Agora's revenues were $19.9 million, a 14.4% increase from $17.4 million in Q4 2024 [5][6] - Shengwang's revenues were RMB129.2 million ($18.3 million), a 5.7% increase from RMB122.2 million ($17.1 million) in Q4 2024 [5][6] - Active customers for Agora increased by 21.0% to 2,085 as of December 31, 2025 [6] - Net income for the quarter was $4.9 million, compared to $0.2 million in Q4 2024 [12] Fiscal Year 2025 Highlights - Total revenues for 2025 were $141.1 million, a 5.9% increase from $133.3 million in 2024 [14] - Agora's revenues were $74.9 million, a 16.1% increase from $64.5 million in 2024 [14] - Shengwang's revenues were RMB472.7 million ($66.2 million), a 3.5% decrease from RMB489.6 million ($68.8 million) in 2024 [14] - Net income for 2025 was $9.5 million, compared to a net loss of $42.7 million in 2024 [23] Cost and Profitability Metrics - Cost of revenues in Q4 2025 was $13.3 million, a 15.8% increase from $11.5 million in Q4 2024 [7] - Gross profit was $24.8 million in Q4 2025, an 8.2% increase from $22.9 million in Q4 2024, with a gross margin of 65.1% [8] - Operating expenses decreased by 8.3% to $26.1 million in Q4 2025 from $28.5 million in Q4 2024 [9] Share Repurchase Program - The company repurchased approximately 12.0 million Class A ordinary shares for approximately $11.1 million in Q4 2025, representing 5.5% of its $200 million share repurchase program [25] - As of December 31, 2025, the company had repurchased approximately 162.2 million Class A ordinary shares for approximately $143.1 million, representing 71.6% of its share repurchase program [26] Financial Outlook - The company expects total revenues for Q1 2026 to be between $36 million and $37 million, representing year-over-year growth of 8.1% to 11.1% [30]

Core Insights - Agora Data, Inc. and Figure Technology Solutions have formed a strategic partnership to launch the first blockchain-enabled platform for U.S. auto loans as tokenized real-world assets [1][2] - This partnership aims to enhance consumer finance by combining Agora's AI-powered auto credit modeling with Figure's blockchain infrastructure, thereby increasing access to a market traditionally dominated by banks [2][5] Group 1: Partnership Overview - The collaboration will allow decentralized finance investors to access, lend against, or purchase auto loans originated by Agora, creating new liquidity and efficiency in the $1.6 trillion U.S. auto market [3][4] - Agora's blockchain-based platform, ALTRUVO™, will utilize Figure's blockchain infrastructure and investor network to distribute auto loans as tokenized assets [4][9] Group 2: Strategic Benefits - The partnership is expected to improve capital markets efficiency by enhancing transparency and scalability in the auto finance sector [9] - Figure will make an equity investment in Agora, further solidifying the partnership and expanding investor access to auto loan-backed assets through the Figure application [9] Group 3: Market Impact - The auto loan market is one of the largest consumer credit markets in the U.S., and this partnership is positioned to accelerate growth and innovation in this space [5][10] - The initiative represents a significant step towards bridging traditional finance with decentralized finance, promoting the evolution of blockchain-based structured finance [9]

Core Insights - The article discusses the launch of VoiceAgentEval, a comprehensive evaluation standard for AI outbound calling, developed by Agora, Meituan, and xbench, addressing the lack of a dedicated assessment system in the AI outbound industry [1][3]. Group 1: Evaluation Framework - VoiceAgentEval establishes a unified and objective assessment standard for AI outbound calling, moving beyond previous academic benchmarks that do not adequately evaluate advanced communication capabilities [3]. - The evaluation framework consists of three main dimensions: benchmark construction, user simulation, and interaction quality assessment, leveraging the strengths of Agora in conversational AI, Meituan in outbound business scenarios, and xbench in AI benchmarking [3][4]. Group 2: Benchmark Construction - The benchmark is based on real-world data covering six business areas: customer service, sales, recruitment, finance, research, and proactive care, with 30 specific sub-scenarios [4]. - Each sub-scenario includes detailed evaluation plans that feature specific process breakdowns and a weighted scoring system [4]. Group 3: User Simulation - Meituan has developed a user simulator with 150 different personas to simulate real business interactions, allowing for large-scale testing of model task completion capabilities in a controlled environment [4]. Group 4: Evaluation Metrics - The evaluation employs a dual-dimensional assessment approach, combining text and voice evaluations, with a two-layer assessment system for text and 15 metrics for voice, integrating expert ratings and objective data [4][5]. Group 5: Leading Models - According to VoiceAgentEval, the top three performing models in AI outbound calling are ByteDance's Doubao-1.5-32k, OpenAI's GPT-4.1, and Anthropic's Claude-4-Sonnet, with Doubao-1.5-32k and GPT-4.1 excelling in voice interaction experience [5][6]. Group 6: Industry Impact - The release of VoiceAgentEval provides a critical reference for AI outbound practitioners and shifts AI model evaluation from idealized academic assessments to more realistic business scenario evaluations, significantly impacting the deployment of generative AI in the industry [7]. - Agora aims to continue enhancing its conversational AI and real-time audio-video cloud services, with several retail and healthcare companies already integrating its outbound calling features [7].

Core Insights - AI developers face a voice latency problem that results in conversations sounding robotic. Agora, Inc. offers a solution through its unique network SD-RTN and Conversational AI Engine 2.0 [1] Company Overview - Agora, Inc. operates in the AI and communication technology sector, providing solutions aimed at improving voice interaction quality [1]

Core Insights - Agora and FPT have formed a strategic partnership to enhance AI adoption in Southeast Asia's banking and financial services sector [1][2] - The collaboration aims to improve customer engagement, streamline digital services, and boost operational efficiency for financial institutions [2][3] Industry Context - Southeast Asia's banking and financial services are undergoing significant transformation due to increased digital adoption and evolving customer expectations [4] - Financial institutions are pressured to modernize legacy systems and provide fast, reliable, and personalized customer interactions while ensuring data protection and regulatory compliance [5] Technological Integration - The partnership integrates Agora's Conversational AI and real-time communications with FPT's enterprise AI ecosystem, enabling secure and intelligent interactions across various channels [3][8] - The solution supports high interaction volumes while ensuring service consistency and operational stability [9] Proven Impact - FPT's AI solutions are already in use by over 40 banks and financial institutions globally, demonstrating significant improvements in customer engagement and operational efficiency [10][13] - For instance, Sacombank's deployment of AI Voice Agents has increased call handling capacity by over 58%, managing up to 41,000 calls per day [10][12] Compliance and Security - The joint solution is designed to meet rigorous regulatory frameworks in Southeast Asia, ensuring data protection and operational resilience [14][15] - The partnership emphasizes the importance of trust, security, and compliance in the ongoing digital transformation of banking and financial services [16] Future Collaboration - Both companies plan to work closely with regional banks, insurance providers, and system integrators to accelerate the adoption of AI and real-time engagement technologies [17]

Core Viewpoint - Agora, Inc. is set to release its financial results for Q4 and the fiscal year ending December 31, 2025, on March 2, 2026, after U.S. market close [1] Group 1: Financial Results Announcement - The financial results will be discussed in a conference call scheduled for 5 p.m. Pacific Time / 8 p.m. Eastern Time on the same day [1] - Investors are encouraged to log on at least 15 minutes prior to the broadcast to participate in the call [1] - The earnings release and accompanying slides will be available on Agora's investor relations website prior to the conference call [2] Group 2: Company Overview - Agora, Inc. is a holding company for two independent businesses, Agora and Shengwang, and is headquartered in Santa Clara, California [3] - Agora is recognized as a pioneer and global leader in conversational AI and Real-Time Engagement Platform-as-a-Service (PaaS), offering developers APIs for real-time conversational AI, video, voice, chat, and interactive streaming [3] - Shengwang, headquartered in Shanghai, China, is also a leading provider of conversational AI and Real-Time Engagement PaaS in the Chinese market [4]

Core Insights - The company reported a 12.0% year-over-year revenue growth in Q3, achieving GAAP profitability for the fourth consecutive quarter with a net profit of $2.7 million [2] - The company has a strong cash reserve of $374.3 million and is experiencing a recovery in its business operations [2] - The company is significantly increasing its investment in conversational AI, launching new products aimed at enhancing voice interaction experiences [3] Financial Performance - In Q3, the company's revenue reached $35.37 million, reflecting a 12.0% increase year-over-year [2] - The net profit for the quarter was $2.7 million, marking the fourth consecutive quarter of GAAP profitability [2] - The company projects Q4 total revenue to be between $37 million and $38 million, representing a year-over-year growth of 7.2% to 10.1% [2] Business Development - The founder stated that the company is significantly increasing its investment in conversational AI, with the recent launch of Conversational AI Engine 2.0 and Conversational AI Studio [3] - Early adoption by global customers has been positive, and the company expects the number of related use cases and potential customers to continue growing by 2026 [3] Project Progress - At the 2025 Real-time Internet Conference, the company announced that its annual service minutes have surpassed 1 trillion for the first time, indicating a new phase of large-scale application in real-time interaction [4]

Core Viewpoint - The company achieved a revenue of $35.37 million in Q3 2025, marking a year-on-year growth of 12.0%, and turned a net profit of $2.7 million, achieving GAAP profitability for four consecutive quarters [1][2]. Financial Performance - In Q3 2025, the company reported a revenue of $35.37 million, which is a 12.0% increase compared to the previous year, and a net profit of $2.7 million, indicating a turnaround to profitability [1][2]. - For Q4 2025, the company projects total revenue to be between $37 million and $38 million, representing a year-on-year growth of 7.2% to 10.1% [1][2]. Business Development - The company significantly increased its investment in conversational AI, launching products such as Conversational AI Engine 2.0 and Conversational AI Studio in 2025 to enhance the interaction experience of voice agents [3]. - Collaborations with major model vendors like MiniMax and SenseTime have been established to expand into smart hardware and education sectors [3]. Financial Position - As of September 30, 2025, the company held a total of $374.3 million in cash, cash equivalents, and financial products, supporting customer growth and technological investments [4]. - The number of active customers continued to grow steadily, with a year-on-year increase of 11.4% in non-China market customers as of June 30, 2025 [4].

Core Insights - Chinese technology stocks are gaining strategic momentum as the U.S.-China trade détente provides operational stability, with tariff rates stabilized at 31% and rare earth export controls suspended for another year, creating investment opportunities in 2026 [2][9] Semiconductor Sector - China's semiconductor consolidation accelerated with SMIC's $5.8 billion acquisition of SMIC Jingcheng and Hua Hong Semiconductor's acquisition of 97.5% of Shanghai Huali Microelectronics for $1.2 billion, consolidating domestic capacity at mature process nodes where Chinese foundries command over 25% of global capacity [4] Electric Vehicle Sector - BYD's January sales fell 30% year over year to 210,051 vehicles, the lowest since February 2024, while battery-electric passenger car sales dropped 33.6% to 83,249 units due to policy shifts; however, export momentum remained strong with a 51.4% increase to 100,482 vehicles [5] Artificial Intelligence Sector - Chinese AI advancements accelerated with multiple flagship releases, including Alibaba's Qwen3-Max-Thinking and Moonshot AI's Kimi K2.5, positioning Chinese companies competitively in the global AI landscape [6] Humanoid Robotics Sector - China holds 90% of global humanoid robot sales, with over 140 companies producing at scale; Morgan Stanley forecasts a 133% surge in sales to 28,000 units in 2026, with the domestic market reaching $1.4 billion [7] Other Strategic Sectors - COMAC targets 50 C919 units annually, the defense budget reached $249 billion with a 7.2% increase, and the medical device market approached $172.9 billion with over 33,000 enterprises [8] Company-Specific Insights - Agora is positioned for growth in conversational AI infrastructure, with strategic partnerships expanding its market beyond traditional communication [10] - Kingsoft Cloud is experiencing triple-digit growth in its intelligent computing cloud business, with gross billings reaching RMB782 million in Q3 2025 [11] - Tencent's growth is bolstered by AI integration and international cloud expansion, with significant revenue growth in marketing and gaming [12] - XPeng's strategic transformation includes the launch of the 2026 P7+ flagship and localized supply chain teams, enhancing operational efficiency and market reach [13]