Agora, Inc. American Depositary Shares - API STOCK NEWS

Agora, Inc. (NASDAQ: API) announced its RTE2022 conference, scheduled for October 10-12, 2022, featuring key industry speakers from Meta, ByteDance, and Spotify. The virtual event aims to explore real-time engagement technologies, including the Metaverse and live streaming. The conference expects around 400 attendees in San Francisco, with thousands more joining online. CEO Tony Zhao will deliver the keynote, emphasizing the importance of real-time engagement in digital interactions. For detailed speaker information, visit the RTE2022 agenda page.

Agora, Inc. (NASDAQ: API) is inviting early-stage startups to enter its RTE Startup Battleground competition during the RTE2022 conference from October 10-12, 2022. Startups must have under $3 million in funding and include real-time engagement solutions. The top 8 submissions will pitch to Silicon Valley VCs on October 3, 2022, with prize money totaling $25,000 for the best ideas. Submissions are open until September 23, 2022, and finalists will be announced by September 30, 2022. The RTE2022 conference will also feature a virtual audience and in-person events in San Francisco.

Agora, Inc. (NASDAQ: API) announced the appointment of Mr. Sheng (Shawn) Zhong as Chief Technology Officer, effective immediately. Previously the Chief Scientist since January 2018, Mr. Zhong will now oversee the company's global research and development, enhancing its technology leadership. His experience includes senior roles at Hisense Microchip Company, Broadcom, and LSI Corporation, along with over 100 technology patents. CEO Tony Zhao expressed confidence that Mr. Zhong's expertise will drive innovation and strengthen Agora's position in real-time engagement APIs.

Agora, Inc. (NASDAQ: API) announced CEO Tony Zhao's plan to purchase up to US$30 million of the company's ADSs or Class A ordinary shares over the next 12 months. This move follows Agora's existing share repurchase program, which allows for up to US$200 million in repurchases, with US$19.8 million already spent as of June 30, 2022. The management plans to execute these purchases depending on market conditions and regulations. Agora aims to strengthen its financial position and shareholder value through these strategic buybacks.

Agora, Inc. (NASDAQ: API) reported its Q2 2022 financial results, with total revenues of $41.0 million, down 3.2% from $42.3 million in Q2 2021. Active customers increased by 17.5% year-over-year, totaling 2,877. The company recorded a net loss of $30.7 million compared to a loss of $15.4 million in the same quarter last year. Adjusted EBITDA was negative $15.3 million, a decline from negative $7.3 million in Q2 2021. Despite challenges, Agora maintained its revenue guidance for 2022, expecting between $176 million and $178 million.

Agora, Inc. (NASDAQ: API) will announce its financial results for Q2 2022, ending June 30, on August 15, 2022, after U.S. market closure. A conference call is scheduled for 6 p.m. PT / 9 p.m. ET on the same day to discuss these results.

Investors are encouraged to log in 15 minutes early to participate. The official earnings release and related slides will be available on Agora’s investor relations site.

Atlantic Power & Infrastructure Corp. (AWSL) announces rising demand for its Flexi-Tile, an eco-friendly solution designed to mitigate stormwater runoff pollution. As cities recognize the environmental benefits, more regulations are emerging, encouraging developers to utilize this product. The company reports sales of over 20,000 tiles and anticipates significant market growth ahead. CEO Kevin Bagnall emphasizes the product's dual benefit of environmental protection and potential land value increase. Flexi-Tile, part of the innovative Flexi-Pave technology, supports sustainable infrastructure development.

Agora, a leader in real-time engagement APIs, announced key executive promotions and a new Chief Security Officer to enhance innovation and security as global demand for metaverse experiences grows. Stanley Wei becomes Chief Strategy Officer, Tony Wang is named Chief Revenue Officer, and Virginia Liu is promoted to Chief Experience Officer. Roger Hale joins as Chief Security Officer. The leadership changes aim to capitalize on the rising need for real-time engagement technologies, positioning Agora for continued expansion and success in a rapidly evolving market.

Agora, Inc. (NASDAQ: API) reported Q1 2022 revenues of $38.6 million, down 4.1% year-over-year, impacted by reduced usage in China's K-12 tutoring due to new regulations. Active customers rose 16.4% to 2,706. Net loss increased to $26.9 million, or $0.24 per ADS, up from $14.7 million a year prior. Operating expenses surged 36.4% to $54.1 million. Despite challenges, Agora maintains 2022 revenue guidance of $176-$178 million, driven by growth in other regions. The company also announced the appointment of Roger Hale as Chief Security Officer to enhance compliance and security.