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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) 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.
Agora, Inc. (NASDAQ: API) is set to release its third quarter financial results on November 15, 2021, after U.S. market close. The company will host a conference call at 5:00 p.m. Pacific Time to discuss these results. Interested participants can register online for the call using the provided link. Agora aims to enhance real-time engagement through its cloud platform, offering APIs for video and voice functionalities. The company operates dual headquarters in Shanghai and Santa Clara.
Agora, Inc. (NASDAQ: API) announced its Extensions Marketplace and a $100 million investment into the real-time engagement (RTE) ecosystem during its RTE2021 virtual conference. The event gathered thousands of attendees from over 100 countries, discussing advancements in voice, video, and streaming technologies. The Startup Battleground competition awarded Blink Date a $10,000 prize for innovative engagement solutions. The conference highlighted a significant demand growth in RTE technologies, with video rising 110% and audio climbing 143% in 2020.
Agora, Inc. (NASDAQ: API) has launched an Extensions Marketplace during its RTE2021 conference, designed to facilitate the integration of real-time video and voice features for developers. The marketplace initially includes partnerships with Bose and Hive, offering tools like noise-filtering software and real-time content moderation. Agora aims to simplify integration for developers, enhancing user engagement in apps. Additionally, the company announced a $100 million investment into the RTE ecosystem to spur further innovation.
Agora, Inc. (NASDAQ: API) announced a new study that highlights the significant growth of real-time engagement (RTE) technology in the past year. The analysis shows RTE video usage rose by 110% and audio by 143% in 2020, fueled by the pandemic. Agora powered over 80 billion minutes of RTE video and 400 billion minutes of RTE audio. In 2021, usage is expected to surpass 2020, with strong growth in e-commerce, HR, and customer service. Agora's RTE2021 conference is set to explore these trends further.
Agora, Inc. (NASDAQ: API) announced its RTE2021 conference, scheduled for September 1-2, 2021, focusing on real-time engagement technologies. This virtual event will showcase innovations in video, voice, and streaming, featuring speakers from major firms like Google and HP. The conference will also include the announcement of the Start-Up Battleground competition winner, with a $10,000 prize for innovative real-time engagement ideas. Ahead of the event, Agora released research indicating Gen Z's strong preference for interactive video and audio in apps, emphasizing the demand for enhanced engagement technologies.
Agora (NASDAQ: API) has partnered with De Kabeza to integrate real-time engagement (RTE) into live mobile gaming. This collaboration enhances De Kabeza's platform with Agora's voice, video, and interactive technology, aiming to create immersive experiences for users. Both companies are focused on attracting audiences by transforming traditional gaming formats into more engaging, interactive ones. The partnership is a strategic move to leverage low-latency solutions, benefiting clients like Sorteos Tec, which saw over 9,300 registrants for a recent game event.
Agora, Inc. (NASDAQ: API) reported its Q2 2021 financial results, showcasing a 24.9% increase in total revenues to $42.3 million compared to Q2 2020. Active customers surged by 64.8% year-over-year. However, the company faced a net loss of $15.4 million, a significant decline from a $3.0 million net income in the same quarter last year. Adjusted EBITDA was negative at $7.3 million. Agora adjusted its revenue guidance for 2021, forecasting between $159 million and $161 million, influenced by market conditions and regulatory impacts.
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