Agora(US:API)2022-08-15 16:00Financial Performance - Total revenues for Q2 2022 were $41.0 million, a decrease of 3.2% from $42.3 million in Q2 2021[2] - Net loss for Q2 2022 was $30.7 million, compared to a net loss of $15.4 million in Q2 2021[9] - Adjusted EBITDA for Q2 2022 was negative $15.3 million, compared to negative $7.3 million in Q2 2021[2] - Total revenues for Q2 2022 were $40.979 million, a decrease of 3.2% from $42.333 million in Q2 2021[26] - Real-time engagement service revenues for Q2 2022 were $39.203 million, down 2.9% from $40.357 million in Q2 2021[26] - Gross profit for Q2 2022 was $26.609 million, an increase of 2.9% compared to $25.859 million in Q2 2021[26] - Net loss for Q2 2022 was $30.678 million, compared to a net loss of $15.394 million in Q2 2021, representing a 99.0% increase in losses[26] Customer Metrics - Active customers as of June 30, 2022, were 2,877, an increase of 17.5% from 2,449 as of June 30, 2021[2] - Constant Currency Dollar-Based Net Expansion Rate (DBNER) was 95% for the trailing 12-month period, with rates above 130% for the US and International business[2] Expenses - Operating expenses increased by 20.4% to $54.5 million in Q2 2022 from $45.3 million in Q2 2021[6] - Research and development expenses were $32.4 million, an increase of 20.1% from $27.0 million in the same period last year[7] - Operating expenses for Q2 2022 totaled $54.511 million, up 20.3% from $45.283 million in Q2 2021[26] - Research and development expenses for Q2 2022 were $32.442 million, an increase of 20.5% from $27.003 million in Q2 2021[26] Cash and Investments - Total cash, cash equivalents, and short-term investments as of June 30, 2022, were $641.2 million[2] - Cash and cash equivalents as of June 30, 2022, were $150.849 million, down 47.3% from $285.668 million as of December 31, 2021[24] - Total assets decreased to $877.720 million as of June 30, 2022, from $944.999 million as of December 31, 2021, a decline of 7.1%[24] - Total shareholders' equity decreased to $801.791 million as of June 30, 2022, from $866.261 million as of December 31, 2021, a decline of 7.4%[24] Cash Flow - Cash used in operating activities for Q2 2022 was $23.797 million, compared to $8.326 million in Q2 2021, indicating a significant increase in cash outflow[28] - Net cash used in operating activities for the six months ended June 30, 2022, was $(39,658) million, significantly higher than $(11,068) million in 2021, marking a 258% increase[31] - Free Cash Flow for the three months ended June 30, 2022, was $(24,247) million, compared to $(11,535) million in 2021, representing a 110% increase in cash outflow[31] - Net cash used in investing activities for the six months ended June 30, 2022, was $(77,168) million, compared to $(191,093) million in 2021, showing a decrease of 60%[31] - Net cash provided by financing activities for the three months ended June 30, 2022, was $(12,518) million, compared to $368 million in 2021, indicating a significant shift in cash flow[31] Shareholder Actions - Approximately 6.3 million class A ordinary shares were repurchased for approximately $11.7 million during the quarter[10] Depreciation and Expenses - Depreciation of property and equipment for the six months ended June 30, 2022, was $4,897 million, compared to $3,983 million in 2021, representing a 23% increase[31] - Share-based compensation expense for the three months ended June 30, 2022, was $9,033 million, up from $8,524 million in 2021, indicating a 6% increase[31] - Acquisition-related expenses for the six months ended June 30, 2022, were $513 million, down from $4,699 million in 2021, reflecting an 89% decrease[31]