Core Insights - Agora, Inc. reported a total revenue of $35.4 million for Q3 2025, representing a year-over-year growth of 12% [2] - The company provided guidance for Q4 revenue in the range of $37 million to $38 million, indicating a year-over-year growth of 7.2% to 10.1% [2] - The net profit for Q3 2025 was $2.74 million, with a net profit margin of 7.8%, marking the fourth consecutive quarter of GAAP profitability [2] - The CEO highlighted that the continuous profitability is attributed to double-digit revenue growth and improving profit margins [2] Financial Performance - As of September 30, 2025, Agora, Inc. had cash and cash equivalents totaling $374 million [3] - The company has achieved a significant milestone with annual service minutes surpassing 1 trillion, indicating a new phase of scalable application in real-time interaction [3] AI and Product Development - Agora is significantly increasing its investment in conversational AI, launching several new products including the Conversational AI Engine 2.0 and AI Studio [3] - The integration of AI technology is expected to drive growth in 2026, with a focus on enhancing developer capabilities for creating interactive voice agents [3] - The company hosted the Convo AI & RTE 2025 conference to explore new opportunities in the integration of RTE and conversational AI [3][4] Industry Trends - The convergence of RTE and conversational AI is reshaping communication boundaries, leading to a new era of intelligent, real-time interactions [4] - Industry experts believe that conversational AI will first achieve scalable implementation in emotional companionship, smart hardware, and online education [3][4]

北京时间11月20日，Agora, Inc.（NASDAQ: API）公布2025年第三季度业绩。公司当季总营收达3540万 美元，同比增长12%；公司指引四季度收入区间为3700至3800万美元，同比增长7.2%—10.1%。 来源：市场资讯 （来源：网易科技报道） 在现金储备方面，截至2025年9月30日，Agora, Inc. 现金、现金等价物、银行存款及银行理财产品为 3.74亿美元。 Agora, Inc. 创始人兼 CEO 赵斌表示， "公司连续四个季度实现美国通用会计准则（GAAP）下的净利 润，这得益于营收双位数同比增长和利润率的持续提升。我们的核心实时音视频云业务正呈现强劲复苏 态势，正迈向疫情后首次全年营收增长。"同时，他表示公司正大幅增加在对话式 AI 领域的投入。并认 为这将成为明年增长的重要动力。（袁宁） 在美国通用会计准则（GAAP）下，Agora, Inc. 第三季度净利润为274万美元（约合人民币2000万元）， 净利润率7.8%。这意味着公司自2024年第四季度扭亏以来，已连续四个季度保持GAAP盈利。 ...

在现金储备方面，截至2025年9月30日，Agora Inc.现金、现金等价物、银行存款及银行理财产品为3.74 亿美元。 第三季度，在AI技术驱动及新场景催化下，声网陆续发布了对话式AI开发套件R1-4G、对话式AI引擎 2.0、对话式AI Studio、AI模型评测平台(对话式)3.0，覆盖了从模型选择到测试、搭建、发布再到上线 生产的全栈环节。 Agora Inc.创始人兼CEO赵斌表示："公司连续四个季度实现美国通用会计准则(GAAP)下的净利润，这 得益于营收双位数同比增长和利润率的持续提升。我们的核心实时音视频云业务呈现强劲复苏态势，正 迈向疫情后首次全年营收增长，为公司构筑坚实而可持续的盈利基础。" 赵斌还表示，公司正大幅增加在对话式AI领域的投入，"我们最新推出对话式AI引擎2.0版本与对话式AI Studio，旨在帮助开发者更轻松地构建高度拟人、交互自然的语音对话智能体。来自全球客户的早期反 馈令人鼓舞，随着应用场景与潜在客户的持续拓展，我们相信这将成为明年增长的重要动力"。 10月31日—11月1日，在声网与RTE开发者社区联合主办的Convo AI&RTE2025第十一届实时互联网大会 ...

来源：智通财经 北京时间11月20日，声网母公司 Agora, Inc. ( NASDAQ：API ) 公布了2025年第三季度财报。财报显 示，第三季度 Agora, Inc. 总营收3540万美元，同比增长12%。在美国通用会计准则（GAAP）下， Agora, Inc. 第三季度净利润为274万美元（约合人民币2000万元），净利润率 7.8%，继2024年Q4同比扭 亏为盈后，公司连续四个季度实现 GAAP 盈利。Agora, Inc. 创始人兼 CEO 赵斌表，公司正大幅增加在 对话式AI领域的投入，将成为明年增长的重要动力。 ...

Core Insights - Agora, Inc. reported a total revenue of $35.4 million for Q3 2025, representing a year-over-year growth of 12% [2] - The company provided guidance for Q4 revenue in the range of $37 million to $38 million, indicating a year-over-year growth of 7.2% to 10.1% [2] - The net profit for Q3 2025 was $2.74 million, with a net profit margin of 7.8%, marking the fourth consecutive quarter of GAAP profitability [2] Financial Performance - Total revenue for Q3 2025 was $35.4 million, a 12% increase compared to the previous year [2] - The net profit for the same quarter was $2.74 million, approximately 20 million RMB, achieving a net profit margin of 7.8% [2] - The company has achieved GAAP profitability for four consecutive quarters, driven by double-digit revenue growth and improved profit margins [2] Investment in Conversational AI - Agora is significantly increasing its investment in the conversational AI sector, launching the Conversational AI Engine 2.0 and Conversational AI Studio [3][5] - The new products aim to assist developers in creating highly interactive voice dialogue agents, with positive early feedback from global customers [3] - The Conversational AI product suite includes a full-stack development kit, covering all aspects from model selection to deployment [5] Product Development and Features - The Conversational AI Engine 2.0 has been optimized with features such as "elegant interruption" to filter out non-semantic words and custom text [9] - The Conversational AI Studio provides a visual orchestration platform for developers, enabling them to create custom agents without coding knowledge [10] - The AI model evaluation platform supports decision-making for model selection across various dimensions, covering 89 models and 10 languages [10] Market Expansion and Future Outlook - Agora's annual service minutes have surpassed 1 trillion, indicating a new phase of large-scale application in real-time interaction [11] - The integration of AI with real-time interaction is expected to lead to significant market opportunities in emotional companionship, smart hardware, and online education [13] - The company aims to reshape communication boundaries through the fusion of real-time engagement (RTE) and conversational AI, promoting a more intelligent and ubiquitous interaction era [16]

Core Insights - The voice interaction capability of AI models is becoming a critical component for AI applications and hardware, with 67% of enterprises planning to place conversational AI at the strategic core by 2025, and 84% intending to increase investments in the next year [1] - The AI voice sector is experiencing significant financing activity, with major tech companies like OpenAI and Google releasing their own voice models and products [1] Industry Trends - Conversational AI is rapidly being integrated across various industries, utilizing technologies such as large language models (LLM), automatic speech recognition (ASR), text-to-speech (TTS), and real-time interaction (RTE) [2] - Despite the growing popularity of AI products, high return rates are a concern, with reports indicating return rates for AI plush toys reaching 30%-40% and some AI glasses as high as 40%-50% [2] - User satisfaction with current AI conversational experiences is low, with only 21% of users expressing satisfaction, leading to high user attrition rates [4] Technical Challenges - Effective voice interaction requires AI to analyze various non-verbal cues, such as tone, pitch, and background noise, to understand user intent [5] - Key technical challenges for conversational AI include low latency response, natural interruption handling, context management, and emotional understanding [5][6] - Traditional voice synthesis processes can result in delays of 2-3 seconds, significantly impacting user experience when the ideal response time is around 400 milliseconds [5] Market Dynamics - The demand for conversational AI is driving growth for platform-based voice technology companies, with AI voice assistants and emotional companionship applications leading the market [7] - VoiceAgent is a prominent product form in the market, with two main architectures: traditional cascading models and end-to-end models, both requiring stable low-latency real-time transmission technology [7] - Companies like Agora, Inc. are focusing on providing stable transmission networks, which are crucial for the performance of conversational AI applications [9] Company Performance - Agora, Inc. reported a revenue of $33.27 million and $34.25 million in Q1 and Q2 of this year, respectively, showing minimal growth [12] - The revenue from Agora's international operations is growing, while the revenue from its Chinese operations has declined for two consecutive quarters [12] - R&D expenses for Agora, Inc. were $14 million in Q2, accounting for 40.9% of total revenue, indicating a significant investment in maintaining competitive advantage [13] Leadership Changes - Recent leadership changes at Agora include the departure of key executives, with operational responsibilities being reassigned to the founder and CEO [17] - Continuous R&D investment is essential for companies like Agora to provide differentiated voice technology services and maintain a competitive edge in the evolving AI landscape [17]

Core Viewpoint - The rise of conversational AI is creating significant business opportunities, with 67% of companies planning to place conversational AI at the strategic core by 2025, and 84% intending to increase investments in this area within the next year [1][2]. Group 1: Market Demand and Growth - The usage of conversational AI by Agora has seen a 151% quarter-over-quarter growth by Q3 2025, indicating strong market demand [2]. - The integration of technologies such as large language models (LLM), automatic speech recognition (ASR), text-to-speech (TTS), and real-time engagement (RTE) is essential for the development of conversational AI [4]. Group 2: Technological Challenges - Key challenges for achieving human-like dialogue in conversational AI include low latency response, natural interruption handling, context management, and emotional understanding [16]. - The current average end-to-end latency for most conversational AI systems is over 3 seconds, while human conversations typically have a latency of around 400 milliseconds, highlighting a significant gap [14]. Group 3: Evaluation Framework - The "three-dimensional two-track" evaluation framework proposed in the white paper assesses AI's understanding, expression, and interaction capabilities, using both benchmark and user-oriented testing methods [20][21]. - This framework aims to provide a comprehensive and objective assessment of conversational AI, addressing the limitations of existing evaluation methods [20]. Group 4: Application Scenarios - Conversational AI has already achieved large-scale implementation in smart hardware, emotional companionship, and online education [27]. - The technology is expected to play a crucial role in the upcoming explosion of AI hardware in 2025, enhancing the functionality of devices like AI companions and smart glasses [28]. Group 5: Future Prospects - Future developments in conversational AI may include multimodal interactions, enabling the AI to understand gestures and facial expressions, thus approaching human-like communication [33]. - The potential for conversational AI to evolve into a "super assistant" that integrates into business processes and serves as a digital employee is also highlighted [34]. Group 6: Economic Impact - Conversational AI is set to transform human-machine communication, reducing the barriers to AI technology usage and promoting equitable access to AI [35]. - The technology is expected to free humans from mundane tasks, allowing for a focus on creative and strategic work, which could lead to new business models and economic growth [35][36].

Core Insights - The rise of conversational AI is creating significant business opportunities, with 67% of enterprises planning to prioritize conversational AI by 2025 and 84% intending to increase investments in the next year [1][3] - Agora's conversational AI usage saw a 151% quarter-over-quarter growth by Q3 2025, indicating strong market demand [1] Group 1: Technology and Development - Conversational AI integrates technologies such as large language models (LLM), automatic speech recognition (ASR), text-to-speech (TTS), and real-time engagement (RTE) [3] - Agora released the "2025 Conversational AI Development White Paper," outlining the evolution of technology, core technologies, mainstream solutions, quality assessment systems, industry case studies, and future trends [3][9] - The main technical challenges for conversational AI include low latency response, natural interruption, context management, and emotional understanding [6][19] Group 2: Product Offerings - Agora introduced a series of conversational AI products, including the next-generation conversational AI engine, development kits, evaluation platforms, and orchestration platforms [3][8] - The Engine 2.0 offers end-to-end high-speed response and advanced features like intelligent interruption and voiceprint recognition, designed for easy integration into various applications [8][19] Group 3: Evaluation Framework - The "three-dimensional two-track" evaluation framework proposed in the white paper assesses AI's understanding, expression, and interaction capabilities through benchmark and user-oriented testing [9][10] - This framework aims to provide a comprehensive and objective assessment of conversational AI, addressing the complexity of voice and dialogue elements [9][10] Group 4: Market Applications - Conversational AI is already being implemented in smart hardware, emotional companionship, and online education, with 2025 expected to be a breakout year for AI hardware [15][19] - The technology is evolving to create more human-like interactions, enhancing user experience in various applications [19][20] Group 5: Future Outlook - Future developments in conversational AI may include multimodal interactions, enabling AI to understand user expressions and gestures, bringing human-machine interaction closer to human-human interaction [20][21] - The potential for conversational AI to become a "super assistant" and integrate into business processes suggests significant commercial value and new business models [20][21] Group 6: Industry Impact - The growth of conversational AI is expected to lower the barriers to AI technology usage, promoting equality and accessibility in technology [21][22] - Agora's annual service minutes have surpassed 1 trillion, marking a milestone for RTE technology as an essential industry component [22][23]

Core Insights - Agora, Inc. (声网) has achieved significant milestones, including surpassing 1 trillion service minutes annually and launching multiple new products, indicating a positive trajectory for the company [1] - The rise of multimodal AI models has led to increased enterprise investment in voice AI, with 67% of companies placing voice AI at the strategic core and 84% planning to increase investments in the coming year [1] - Agora has recently partnered with OpenAI to launch the first Realtime API for low-latency voice interaction, marking a strategic shift towards conversational AI [3] Company Developments - Agora's CEO Zhao Bin announced the company's annual service minutes exceeded 1 trillion, highlighting growth and product innovation [1] - The company has introduced several products focused on conversational AI, including a new AI engine that enhances dialogue capabilities and supports various ASR and TTS providers [4] - Agora's revenue for Q2 2025 was reported at $34.3 million, a slight increase of 0.5% year-over-year, with a net profit of $1.5 million, indicating a return to profitability [5] Industry Trends - The conversational AI market is projected to grow significantly, with ARK Invest estimating potential growth from $30 million to between $70 billion and $150 billion in the AI companionship sector [5] - Despite advancements, only 21% of users are satisfied with current AI dialogue experiences, indicating room for improvement in areas such as low-latency response and emotional understanding [5] - The integration of conversational AI into business strategies is becoming increasingly important, with companies recognizing its potential as a key component of next-generation AI infrastructure [5]

Group 1 - The annual service minutes of Agora have surpassed 1 trillion for the first time, indicating that Real-Time Engagement (RTE) technology has become a critical infrastructure [1] - The proportion of high-definition video has increased over tenfold in the past two years, with over 80% of overseas market traffic being above 720p resolution, signaling a new wave of innovation in the real-time interaction industry [1] - Only 21% of users are satisfied with the current AI conversation experience, highlighting significant challenges in achieving human-like dialogue, including low latency response and emotional understanding [1] Group 2 - A survey by Deepgram and Opus Research shows that 67% of enterprises have positioned voice AI agents at the strategic core, with 84% planning to increase investments in the next year [2] - Agora's usage of conversational AI saw a 151% quarter-over-quarter growth by Q3 2025, reflecting strong market demand [2] - Agora has released the "2025 Conversational AI Development White Paper" and "Conversational AI Curiosity Handbook" to provide a systematic guide for the industry [2]