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Agora, Inc. (NASDAQ: API) is a premier provider of real-time communication solutions, enabling developers to integrate high-definition video and voice calls, live streaming, and real-time messaging into their applications. With its proprietary technology, Agora supports billions of voice minutes annually, offering robust performance even in demanding scenarios involving up to 2,000 users in a single call. The company's SDKs are used across various industries, including gaming, retail, and education, in both the People's Republic of China and the United States, with most of its revenue coming from China.
Agora's recent achievements include the launch of Adaptive Video Optimization™ (AVO) technology, which dynamically adjusts video quality based on network conditions, and a partnership with EZDRM to enhance content security during live broadcasts. Despite the challenging macroeconomic conditions, Agora has demonstrated resilience by focusing on key customers and core product enhancements, as reflected in their financial performance.
For Q3 2023, Agora reported $35.0 million in total revenues, reflecting a 14.6% decrease year-over-year. The company achieved a gross margin of 64.0%, an improvement from 59.4% in the same period last year. Active customers increased by 26.2% for Agora and 6.3% for Shengwang. The firm continues to manage its resources efficiently, narrowing net losses and operating cash outflows.
Looking ahead, Agora anticipates revenues of $34.5 million to $36.5 million for Q4 2023 and is focused on leveraging generative AI to create innovative real-time engagement use cases. Their sustained share repurchase program underscores confidence in long-term growth.
Agora, Inc. (NASDAQ: API) will showcase its real-time audio and video technology at the 2022 Game Developer Conference from March 21-25 in San Francisco. The conference, with over 25,000 participants, aims to enhance game interactivity and engagement through innovative technology. Agora will host two virtual sessions on March 25, focusing on boosting user engagement and exploring the metaverse's potential. The company will also provide live demos at booth P1754, demonstrating various gaming applications. Agora continues to empower developers with accessible APIs for real-time engagement.
Agora, Inc. (NASDAQ: API) will showcase its real-time engagement solutions at 4YFN on March 2, 2022. The session titled The Workplace2026: The Future of Work, Collaboration, and Connectivity will explore the evolution of work, emphasizing hybrid models and digital tools. Agora's founder, Tony Zhao, notes that innovations in communication will transform how work is conducted. The event aims to foster connections among startups, investors, and established companies for launching new ventures. Agora will operate from Hall 6 Booth 6D24 during the exhibition.
Agora, Inc. (NASDAQ: API) reported its fourth quarter and fiscal year 2021 results, showcasing a 21.5% revenue increase to $40.4 million in Q4 and 25.8% growth for the year to $168.0 million. Active customers rose by 27.4% to 2,670. However, the company faced a net loss of $21.2 million in Q4 and $72.4 million for the year, up from $6.2 million and $3.1 million losses in 2020. Despite this, Agora anticipates revenue between $176 million and $178 million for 2022, fueled by its metaverse-focused innovations.
Agora, Inc. (NASDAQ: API) announced a new share repurchase program, allowing the company to buy back up to US$200 million of its Class A ordinary shares over the next 12 months. This initiative highlights the Board's confidence in Agora's fundamentals and long-term growth strategy. The program is expected to enhance shareholder value while still permitting investment in the company's technology and business expansion. Repurchases will occur in the open market and may be adjusted or suspended based on market conditions.
Agora, Inc. (NASDAQ: API) will announce its financial results for Q4 and the fiscal year ending December 31, 2021, on February 22, 2022, after U.S. market close. A conference call to discuss the results will occur at 5 p.m. PT / 8 p.m. ET on the same day. Interested participants should register in advance to receive dial-in numbers and access codes. Replay of the call will be available two hours post-event. Agora aims to facilitate ubiquitous real-time engagement through its advanced APIs for video and voice functionalities.
Agora has partnered with Bishop Fox, the largest private offensive security firm, to enhance its real-time engagement platform's security, safety, and privacy. This collaboration introduces the Cosmos platform for continuous offensive security, covering attack surface management and exposure identification. The partnership aims to set high industry standards for real-time engagement security. Agora emphasizes its commitment to security, aiming to exceed conventional standards while defending against sophisticated cyber threats.
Agora, Inc. (NASDAQ: API) has announced a partnership with Smule to enhance its Sing Live feature, allowing users to sing holiday carols in real-time, regardless of their location. This collaboration utilizes Agora's real-time engagement technology, improving user experience during the holiday season. Smule offers audio-only sessions for free, while VIP subscribers can host video sessions. Users can also create festive recordings with music legends and access new AR features, creating deeper connections and driving revenue opportunities for both companies.
Agora, Inc. (NASDAQ: API) has partnered with Smule, a popular social singing app, to enhance its Sing Live feature using Agora’s Software-Defined Real-time Network (SD-RTN). This collaboration enables users to sing carols in real-time without lag, ensuring seamless holiday connections. Agora's SD-RTN leverages 250 data centers globally for efficient data delivery. Smule users can join audio-only sessions for free, while VIPs can host video sessions. The partnership aims to connect families virtually during the holidays, highlighting Agora's scalable technology.
Agora, Inc. (NASDAQ: API) reported third-quarter results for 2021 with total revenues of $45.0 million, up 46% year-over-year. Active customers increased by 41.3% to 2,564. However, the company posted a net loss of $21.1 million, compared to a loss of $2.9 million a year earlier. Operating expenses surged by 116.9% to $50.4 million, primarily due to increased research and development costs. The company anticipates 2021 revenues between $163 million and $165 million. Agora aims to expand its real-time engagement solutions amidst growing demand.
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