Agora, Inc. Reports First Quarter 2024 Financial Results SANTA CLARA, Calif., May 22, 2024 (GLOBE NEWSWIRE) – Agora, Inc. (NASDAQ: API) (the "Company"), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the first quarter ended March 31, 2024. "Despite a challenging operating environment, we continued to focus on enhancing the fundamental performance of our products, for example, launching our new Adaptive Video Optimization technology and improving ...

SANTA CLARA, Calif., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the "Company"), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the second quarter ended June 30, 2024. "I am glad to see both Agora and Shengwang delivered year-on-year revenue growth against a very challenging macro environment in this quarter, which was made possible through our relentless innovation to enable new use cases and to push the bar of quality and value ...

SANTA CLARA, Calif., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API), a pioneer and leader in real-time engagement technology, will release its financial results for the second quarter ended June 30, 2024 after the close of U.S. markets on August 19, 2024. Agora, Inc. will host a conference call to discuss the financial results at 6 p.m. Pacific Time / 9 p.m. Eastern Time on the same day. Details for the conference call are as follows: Event title: Agora, Inc. 2Q 2024 Financial Results The call ...

公 司 研 究 声网（API.NASDAQ）2024Q1 财报点 2024年5月29日 推荐/维持 评：营收同比下滑，发布多项实时 东 声网 公司报告 兴 音视频场景解决方案 证 券 股 份 事件：声网发布2024年Q1财报：2024年一季度，公司实现营业收入33百万 公司简介： 有 美元，同比减少9.4%，环比减少8.4%；净利润亏损9.46百万美元，Non-GAAP 2014年公司正式成立，致力于为企业开发 限 净利润亏损4.8百万美元。 者提供可调用的实时互动SDK，实现在应 用内构建实时音视频互动场景。 公 点评： 资料来源：公司公告 司 证 2024Q1整体营收同比下滑，预计2024年海外业务实现较快增长。2024年第一 未来3-6个月重大事项提示： 券 季度，公司实现营业收入33百万美元，其中海外Agora收入15.8百万美元，同 无 研 比增长 4.6%，主要源于海外新兴经济受到美元高利率宏观环境影响；国内声网 发债及交叉持股介绍： 究 收入 17.2 百万美元，同比下降 16.0%，主要源于春节效应下客户使用量减少、 无 报 国内宏观经济环境温和向好、直播行业监管加强等因素。展望 2024 年 ...

Agora, Inc. (NASDAQ:API) Q1 2024 Results Conference Call May 22, 2024 9:00 PM ET Company Participants Tony Zhao - Founder, Chairman and CEO Jingbo Wang - CFO Conference Call Participants Yang Liu - Morgan Stanley Daley Li - Bank of America Securities Operator Good day and thank you for standing by. Welcome to Agora, Inc.'s First Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. The company's earnings results, press release, e ...

Core Viewpoint - Agora, Inc. reported its first quarter 2024 financial results, highlighting a focus on product performance improvements despite a challenging operating environment. The company anticipates that advancements in real-time engagement technology will align with the growing use of generative AI models in voice and video interactions [1]. Financial Performance - Total revenues for Q1 2024 were $33.0 million, a decrease of 9.4% from $36.4 million in Q1 2023 [2][3]. - Agora's revenue was $15.8 million, an increase of 4.6% from $15.1 million in Q1 2023, driven by business expansion and growth in sectors like live shopping [2][3]. - Shengwang's revenue was RMB122.6 million ($17.2 million), a decrease of 16.0% from RMB145.9 million ($21.3 million) in Q1 2023, attributed to a challenging macroeconomic and regulatory environment [2][3]. Customer Metrics - Active customers for Agora increased to 1,720 as of March 31, 2024, up 16.1% from 1,481 a year earlier [2]. - Shengwang had 3,833 active customers, a decrease of 2.2% from 3,919 as of March 31, 2023 [2]. Profitability and Loss - The net loss for Q1 2024 was $9.5 million, compared to a net loss of $16.8 million in Q1 2023 [2][10]. - Non-GAAP net loss for the quarter was $4.8 million, compared to a non-GAAP net loss of $9.1 million in Q1 2023 [2][10]. - Adjusted EBITDA for the quarter was negative $6.1 million, an improvement from negative $6.4 million in Q1 2023 [2][10]. Cash Flow and Liquidity - Total cash, cash equivalents, and financial products as of March 31, 2024, amounted to $380.8 million [2]. - Net cash used in operating activities for the quarter was $6.5 million, down from $8.9 million in Q1 2023 [2]. - Free cash flow for the quarter was negative $7.1 million, an improvement from negative $9.1 million in Q1 2023 [2]. Share Repurchase Program - During Q1 2024, the company repurchased approximately 4.8 million Class A ordinary shares for about $3.2 million, representing 1.6% of its $200 million share repurchase program [11]. - As of March 31, 2024, the company had repurchased approximately 118.6 million Class A ordinary shares for about $107.5 million, representing 54% of its share repurchase program [11]. Financial Outlook - The company expects total revenues for Q2 2024 to be between $34 million and $36 million, reflecting current market and operational conditions [12].

SANTA CLARA, Calif., May 22, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the “Company”), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the first quarter ended March 31, 2024. “Despite a challenging operating environment, we continued to focus on enhancing the fundamental performance of our products, for example, launching our new Adaptive Video Optimization technology and improving the stability of our SDKs to highest levels in our histo ...

SANTA CLARA, Calif., May 10, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ:API), a pioneer and leader in real-time engagement technology, will release its financial results for the first quarter ended March 31, 2024 after the close of U.S. markets on May 22, 2024. Agora, Inc. will host a conference call to discuss the financial results at 6 p.m. Pacific Time / 9 p.m. Eastern Time on the same day. Details for the conference call are as follows: Event title: Agora, Inc. 1Q 2024 Financial Results The call will ...

Agora's Adaptive Video Optimization™ (AVO) technology dynamically optimizes performance at every step, from capture to playback, to deliver exceptional live video quality. SANTA CLARA, Calif., May 1, 2024 /PRNewswire/ -- Agora, Inc. (NASDAQ: API), a pioneer and leading platform for real-time engagement APIs, today unveiled its latest innovation, Adaptive Video Optimization™ (AVO) along with support for the AV1 video codec. This advanced technology harnesses the power of machine learning to dynamically adju ...

VIE Structure and Regulatory Risks - In 2021, 2022, and 2023, revenues generated by the VIEs accounted for 68.2%, 53.3%, and 56.7% of total revenues, respectively[17]. - The contractual arrangements with the VIE have not been tested in court in China, posing risks to the enforceability of these agreements[17]. - The company has controlling financial interest over Zhaoyan through a series of contractual arrangements, allowing it to direct Zhaoyan's activities and receive economic benefits[20]. - The company does not hold any equity interests in Zhaoyan, which is owned by nominee shareholders, increasing risks related to enforcement of contractual rights[21]. - The company has maintained a VIE structure to comply with Chinese regulations on foreign investment in telecommunications[15]. - The legal counsel has indicated that the ownership structures do not violate current PRC laws, but uncertainties remain regarding future interpretations[30]. - The company faces significant uncertainty regarding potential future actions by the Chinese government that could affect the legality of its corporate structure[17]. - The company may face administrative penalties if it fails to obtain or maintain necessary licenses and approvals from PRC regulators[36]. - The M&A Rules create substantial uncertainty regarding the need for CSRC approval for offshore special purpose vehicles, which could impact the company's operations[34]. - PRC subsidiaries are required to set aside at least 10% of after-tax profits for statutory reserves, potentially limiting dividend payments to Agora, Inc.[66]. - The ability to pay dividends is contingent on the distributable profits of PRC subsidiaries, which may not be sufficient in the near future[66]. - The PCAOB's ability to conduct inspections of auditors in China is uncertain, which could affect the trading of Agora's ADSs in the U.S.[70]. - If the PCAOB cannot inspect auditors for two consecutive years, Agora's ADSs may be prohibited from trading on U.S. exchanges[69]. - The company faces potential penalties if its contractual arrangements do not comply with PRC regulatory restrictions on foreign investment[213]. Financial Performance and Position - As of December 31, 2023, Agora, Inc. had made cumulative capital contributions of US$259.0 million to its PRC subsidiary[39]. - The VIEs transferred US$48.6 million, US$24.4 million, and US$38.6 million to the PRC subsidiaries as payment of service fees in 2023, 2022, and 2021 respectively[41]. - The aggregated payment of service fees from the VIEs to the PRC subsidiaries amounted to US$217.9 million as of December 31, 2023, up from US$169.3 million in 2022[40]. - The outstanding balance of service fees owed by the VIEs to the PRC subsidiaries decreased from US$41.8 million in 2022 to US$26.1 million in 2023[40]. - The company has not declared or paid any cash dividends and intends to retain most of its available funds for business operations and expansion[42]. - The company has not made any loans to the VIEs in 2021, 2022, and 2023, with the VIEs funding their operations primarily through cash generated from activities[37]. - Total third-party revenues for the year ended December 31, 2022, were $160.67 million, an increase from $141.54 million in 2021, representing a growth of approximately 13.5%[49][50]. - The net loss for the year ended December 31, 2022, was $120.38 million, compared to a net loss of $87.22 million in 2021, indicating a decline of approximately 37.9%[49][50]. - Total current assets as of December 31, 2023, amounted to $261.43 million, with cash and cash equivalents at $36.89 million[54]. - The company reported a loss before income tax expenses of $119.72 million for the year ended December 31, 2022, compared to a loss of $86.80 million in 2021, reflecting an increase of approximately 37.9%[49][50]. - Total liabilities as of December 31, 2023, were $69.85 million, with total shareholders' equity at $604.75 million[54]. - The total assets as of December 31, 2023, were $674.60 million, with non-current assets amounting to $413.17 million[54]. - The company incurred other costs and expenses totaling $268.19 million for the year ended December 31, 2022[49]. - The company experienced a foreign currency translation gain of $94 thousand during the fiscal year[59]. - The company recorded a total of $94,159 thousand in long-term investments, with $39,000 thousand in Agora, Inc. and $46,659 thousand in other subsidiaries[56]. - The total amount of cash paid for services from group companies was $(48,587) thousand, while sales of services amounted to $24,636 thousand[61]. Operational Challenges and Market Conditions - The company faces significant risks in expanding its international operations, including regulatory compliance, currency fluctuations, and political instability[103]. - The RTE-PaaS market is at an early stage, with considerable uncertainty regarding its growth and the adoption of the company's platform[92]. - The company must attract new customers cost-effectively and retain existing customers to increase usage of its products, which is critical for revenue generation[93]. - Competition in the RTE-PaaS market is expected to intensify, with larger vendors potentially entering the market and offering competing products[98]. - The company has encountered a history of operating and net losses, making it difficult to evaluate its current business and future prospects[109]. - The company relies on developers to choose and promote its platform, and failure to maintain their acceptance could harm the business[102]. - The company must continuously adapt its products to evolving technologies and customer needs to remain competitive in the market[112]. - The company generated a substantial portion of its revenues from a limited number of customers, indicating a dependency that could impact future revenue stability[127]. - The company faces significant compliance costs and potential liabilities due to evolving privacy and data protection regulations, including the GDPR and CCPA, which may increase operational expenses[118]. - The introduction of the California Privacy Rights Act (CPRA) in 2023 has expanded consumer rights and may lead to increased compliance costs for the company[118]. - The company must manage its suppliers and contractors effectively to ensure compliance with data protection laws, as failures could result in liability[123]. - The company's operating results may fluctuate significantly due to various factors, including customer retention and market acceptance of its products[125]. - The complexity of sales cycles for larger organizations may lead to higher costs and longer sales processes, impacting revenue generation[132]. - The company relies on strategic relationships with third-party sales partners to drive substantial revenues, and failure to establish these could adversely affect financial results[134]. - The company’s ability to recruit and retain skilled sales personnel is critical for achieving significant revenue growth[133]. - The company’s business reputation and customer support quality are vital for maintaining customer relationships and overall financial health[139]. - The company faces potential risks from deteriorating China-U.S. relations, which could impact its operations and market perception[141]. Investment and Financial Strategy - The company has a tax planning strategy in place to mitigate potential double taxation risks associated with VIE earnings[46]. - The likelihood of incurring double taxation due to stranded cash in the VIE is considered remote by management[46]. - The company may require additional capital for product development and international expansion, which could lead to shareholder dilution if raised through equity financing[197]. - Currency exchange rate fluctuations could adversely affect the company's operating results, particularly as it conducts business in multiple currencies[199]. - Significant fluctuations in the Renminbi against the U.S. dollar could impact the company's financial condition and dividend payments[200]. - The company may pursue acquisitions or investments in businesses, technologies, and products, which could divert management's attention and incur debt or shareholder dilution[152]. - Integration of acquired businesses may face challenges, including retaining key personnel and adapting products to the company's platform, potentially disrupting operations[154]. Legal and Compliance Risks - The company faces various legal and operational risks due to its business operations in multiple jurisdictions, including the U.S. and China[74]. - Changes in PRC government policies could adversely impact the company's operations and the value of its ADSs[82]. - The company is subject to FCC regulations which may impose product design and compliance obligations, potentially affecting its ability to operate and sell products[179]. - The company offers products in over 100 countries, exposing it to various international telecommunications laws and regulations[180]. - International operations may face increased costs and regulatory challenges, particularly in countries where IP communications are restricted or illegal[181]. - The company must comply with U.S. export controls and economic sanctions, which could impact its market competitiveness and result in penalties for non-compliance[183]. - Encryption technology in products may face import and export regulations, potentially harming international sales and revenues[185]. - The company is subject to complex tax regulations across multiple jurisdictions, which could lead to additional tax liabilities and affect financial results[190]. - Negative publicity and regulatory investigations could harm the company's reputation and market share[195]. - The company has not recorded any contingent liabilities related to pending litigation for the years 2021, 2022, and 2023, but future estimates may be inaccurate due to uncertainties[212]. - Legal or administrative proceedings against the company or its management could harm reputation and user base, distracting from daily operations[211]. Internal Controls and Reporting - The company must maintain effective internal control over financial reporting as per the Sarbanes-Oxley Act, with independent testing required to confirm effectiveness[203]. - As of December 31, 2023, the company's internal control over financial reporting was deemed effective by management and an independent registered public accounting firm[203]. - Failure to maintain effective internal controls could lead to material misstatements in financial statements and loss of investor confidence, potentially affecting the market price of the company's ADSs[205]. Cybersecurity and Data Protection - The company faces risks related to cybersecurity breaches that could compromise business operations and result in significant data losses[165]. - Increased prevalence of computer malware and data security breaches poses risks to the company's platform and could harm customer retention[208]. - The company is subject to cybersecurity reviews if it holds personal information of more than one million users and intends to go public in a foreign country[119]. - The company may face penalties and fines for noncompliance with data protection laws, which could adversely affect its business operations[124].