Agora, Inc. (NASDAQ:API) Q2 2023 Results Conference Call August 21, 2023 9:00 PM ET Company Participants Tony Zhao - Co-Founder, Chief Executive Officer & Chairman Jingbo Wang - Chief Financial Officer Conference Call Participants Harry Zhuang - Bank of America Securities Operator Good day, and thank you for standing by. Welcome to Agora Inc. Second Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. The company's earnings resu ...

Agora, Inc. Reports Second Quarter 2023 Financial Results SANTA CLARA, Calif., August 21, 2023 (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, 2023. "We continued to face a very challenging operating environment this quarter. The Agora business was impacted by the tightening financing conditions of certain customers, while the Shengwang business navigat ...

Agora, Inc. (NASDAQ:API) Q1 2023 Earnings Conference Call May 30, 2023 9:00 PM ET Company Participants Fionna Chen - Director of Investor Relations Tony Zhao - Co-Founder, Chief Executive Officer & Chairman Jingbo Wang - Chief Financial Officer Conference Call Participants Yang Liu - Morgan Stanley Daley Li - Bank of America Bing Duan - Nomura Securities Operator Good day and thank you for standing by. Welcome to the Agora, Inc. First Quarter 2023 Financial Results Conference Call. [Operator Instructions] P ...

Agora, Inc. Reports First Quarter 2023 Financial Results SANTA CLARA, Calif., May 30, 2023 (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, 2023. "Over the past few months, we have worked diligently to streamline our organizational structure and improve our operational efficiency. Going forward, we will operate two independent divisions under separate br ...

Financial Performance - The company recorded an impairment of goodwill amounting to US$11.9 million, reclassified from non-operating to operating expenses [583]. - The company received net proceeds of approximately US$483.6 million from its initial public offering, after incurring total expenses of US$28.9 million related to the issuance and distribution of ADSs [750]. - Approximately 20% of the net proceeds from the initial public offering and concurrent private placement were allocated for research and development, marketing, branding, technology infrastructure, working capital, and other general corporate purposes [751]. - The company intends to utilize the remainder of the net proceeds from the initial public offering as disclosed in the registration statements on Form F-1 [751]. Currency and Foreign Exchange Risk - The company does not hedge against foreign currency risk, with a substantial majority of revenue-generating transactions denominated in Renminbi [728]. - The company has experienced over a 10% appreciation of the Renminbi against the U.S. dollar since June 2010, impacting its foreign exchange risk exposure [729]. - As of December 31, 2022, the company held Renminbi-denominated cash and cash equivalents of RMB65.5 million, with a potential impact of US$0.9 million on cash equivalents from a 10% depreciation of Renminbi against the U.S. dollar [730]. Asset Management and Impairment - The company performs annual impairment tests for goodwill, with qualitative assessments determining if further quantitative tests are necessary [581]. - The company assesses expected credit losses based on historical collection trends and current economic conditions, indicating a proactive approach to managing accounts receivable [580]. - The company’s cash and short-term investments are primarily held in bank and time deposits, which are not significantly affected by interest rate fluctuations [731]. Financial Estimates and Compliance - The company’s financial estimates are based on historical experience and reasonable assumptions, with ongoing evaluations to ensure accuracy [578]. - The company has not made any payments to directors or officers from the net proceeds of the initial public offering, ensuring compliance with regulatory standards [750].

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 ...