Agora, Inc. Reports Fourth Quarter and Fiscal Year 2022 Financial Results SANTA CLARA, Calif., February 27, 2023 (Globe Newswire) – Agora, Inc. (NASDAQ: API) ("Agora"), a pioneer and leading platform for real-time engagement APIs, today announced its unaudited financial results for the fourth quarter and the fiscal year ended December 31, 2022. "We made significant adjustments to our organization and strategy to overcome the many challenges in 2022, including regulatory changes in certain market and a turbu ...

Financial Data and Key Metrics Changes - Revenue for Q4 2022 was $40.1 million, a decrease of 0.7% year-over-year and a decrease of 2.1% quarter-over-quarter [15][16] - Full year revenue for 2022 was $160.7 million, representing a 4.4% decrease from 2021, primarily due to a $37.8 million drop in revenue from the K12 academic tutoring sector in China [9][16] - Non-GAAP gross margin for Q4 was 61.2%, which was 1.4% higher than the previous quarter but 2.8% lower than Q4 2021 [18] - Non-GAAP operating loss was $10.7 million, translating to a 26.7% non-GAAP operating loss margin for Q4, an improvement from 38.2% in Q4 2021 [19] Business Line Data and Key Metrics Changes - The number of active customers increased to 3,066, adding close to 400 compared to the previous year [5] - Revenue from the K12 academic tutoring sector in China decreased significantly from $40 million to $3 million [9] - New use cases such as live video shopping are expanding rapidly, contributing to revenue growth in other sectors [8] Market Data and Key Metrics Changes - The trailing 12-month constant currency dollar-based net expansion rate was 81%, with 118% for U.S. and international business and approximately 100% for China business [17] - Pricing pressure was noted in the U.S. and international markets, particularly affecting startup companies due to high inflation and interest rate hikes [30] Company Strategy and Development Direction - The company plans to focus on customer value, enhance competitive advantage, and gain market share in 2023 [12][13] - A reorganization of the global R&D team and workforce reduction was implemented to improve efficiency and focus on strategic priorities [10] - The sale of Easemob's Customer Engagement Cloud business was completed to concentrate resources on core products and markets [11] Management Comments on Operating Environment and Future Outlook - Management expressed caution regarding the macro environment but sees new opportunities in the global RTE market [12] - The company expects total revenues for 2023 to be in the range of $155 million to $157 million, reflecting a flat outlook compared to 2022 [22] Other Important Information - The company ended Q4 with $428 million in cash and short-term investments, down from $483 million at the end of Q3 [21] - A share repurchase program was extended to February 28, 2024, reflecting the Board's confidence in the company's fundamentals [21] Q&A Session Summary Question: When could we see the inflection point in the domestic and overseas markets? - Management noted that the recent slowdown in revenue growth is due to macroeconomic challenges and does not reflect a fundamental change in demand for real-time engagement technology [25] Question: Is the target of breakeven by Q4 2023 still valid? - Management indicated that while they expect revenue to increase quarter-by-quarter, they do not have a fixed revenue and operating expense target at this point [26] Question: Can management provide insights on client numbers and ASP trends? - Management confirmed a steady increase in the number of customers but noted pricing pressure in the U.S. and international markets due to economic conditions [30] Question: What applications or industry verticals might accelerate or slow down in 2023? - Management highlighted emerging use cases like speech-to-text and live shopping, with potential growth in digital transformation in China and other regions [34] Question: What is the revenue breakdown by key categories in 2022? - In the U.S. and international markets, social is the largest vertical, followed by education and live video shopping, while in China, social dominates with growing contributions from digital transformation and IoT [42]

Agora, Inc. (NASDAQ:API) Q3 2022 Earnings Conference Call November 21, 2022 8:00 PM ET Company Participants Fionna Chen - Head of Investor Relations Tony Zhao - Founder, Chairman & Chief Executive Officer Jingbo Wang - Chief Financial Officer Conference Call Participants Bing Duan - Nomura Operator Good day and thank you for standing by. Welcome to the Agora Inc. Third Quarter 2022 Financial Results Conference Call. At this time, all participants are in the listen-only mode. After the speakers' presentation ...

Agora, Inc. (NASDAQ:API) Q2 2022 Earnings Conference Call August 15, 2022 9:00 PM ET Company Participants Fionna Chen - Head, Investor Relations Tony Zhao - Founder, Chairman & Chief Executive Officer Jingbo Wang - Chief Financial Officer Conference Call Participants Yang Liu - Morgan Stanley Bing Duan - Nomura Allen Li - JPMorgan Operator Good day, and thank you for standing by. Welcome to Agora Inc.'s Second Quarter 2022 Financial Results Call. At this time, all participants are in the listen-only mode. A ...

Exhibit 99.1 Agora, Inc. Reports Second Quarter 2022 Financial Results SANTA CLARA, Calif., August 15, 2022 (Globe Newswire) – Agora, Inc. (NASDAQ: API) ("Agora"), a pioneer and leading platform for real-time engagement APIs, today announced its unaudited financial results for the second quarter ended June 30, 2022. "We delivered strong operational results this quarter as our top line returned to a quarter-over-quarter growth trajectory," said Tony Zhao, founder, chairman and CEO of Agora. "In particular, w ...

Agora, Inc. (NASDAQ:API) Q1 2022 Earnings Conference Call May 23, 2022 9:00 PM ET Company Participants Fionna Chen - Director, IR Tony Zhao - Founder, Chairman and CEO Jingbo Wang - CFO Conference Call Participants Yang Liu - Morgan Stanley Bing Duan - Nomura Operator Good day, everyone, thank you for standing by. Welcome to Agora, Inc’s. First Quarter 2022 Financial Results Conference Call. At this time, all participants are in the listen-only mode. After the speakers' presentation, there will be a questio ...