Welcome to our dedicated page for Agora news (Ticker: API), a resource for investors and traders seeking the latest updates and insights on Agora stock.
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) 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.
Agora, Inc. (NASDAQ: API) announced its upcoming release of financial results for Q2 2021, scheduled for August 9, 2021. The earnings will be disclosed after the closing of U.S. markets. Following the release, Agora will host a conference call at 6 p.m. PT / 9 p.m. ET to discuss the results, with registration required for participation. Agora is committed to enhancing real-time engagement through its APIs, facilitating seamless video and voice communication across various applications globally.
Agora, Inc. (NASDAQ: API) announced a significant integration of its Video Software Developer Kit (SDK) within the HTC VIVE Sync App, enhancing remote collaboration for VR and non-VR users. This integration allows users to engage in a shared virtual environment, facilitating screen sharing and file exchange, thereby improving productivity. CEO Tony Zhao highlighted the potential for extended reality to transform workplace interactions. Following a recent partnership announcement at VIVECON, this integration marks a pivotal step towards more innovative real-time engagement applications.
Agora, Inc. (NASDAQ: API) has partnered with HP Inc to enhance the OMEN Oasis gaming experience through real-time engagement features. The integration will utilize Agora's voice, video, and interactive streaming technologies, enabling up to 16 participants to engage in virtual watch parties. This collaboration aims to empower gamers globally, fostering connectivity and low-latency gameplay. The OMEN Oasis feature is currently in beta and accessible via the OMEN Gaming Hub, which is pre-installed on OMEN PCs. Developers can leverage Agora's Software Development Kit (SDK) for improved engagement.
Agora has launched the Agora App Builder, a platform enabling both developers and non-technical users to create customized video conferencing applications without coding skills. The tool is powered by Agora's robust Software-Defined Real-Time Network, offering features such as a user-friendly interface, multi-screen sharing, and ultra-low latency at 60% lower than competitors. Agora App Builder aims to empower users to engage audiences effectively while ensuring high scalability and reliability. The service is free for innovators looking to differentiate their offerings.
Agora, Inc. (NASDAQ: API) reported first-quarter 2021 revenues of $40.2 million, up 13.1% year-over-year, as developer engagement grows in real-time voice, video, and chat applications. However, the company faced a net loss of $14.7 million, contrasting with a net income of $3.0 million in the same period last year. Operating expenses surged 86.8% to $39.7 million, driven by R&D and marketing investments. Despite these challenges, Agora maintains a revenue guidance of $178 million to $182 million for 2021, reflecting optimism amidst ongoing market uncertainties.
Agora, Inc. (NASDAQ: API) announced a partnership with HTC to enhance the adoption of real-time engagement (RTE) technology through the HTC VIVE Independent Software Vendors (ISV) Program. This collaboration aims to empower developers to integrate Agora's voice, video, and live streaming capabilities into the HTC VIVE platform. The partnership reflects a growing demand for innovation in virtual reality (VR) and extended reality (XR) applications, promising to enhance productivity in enterprise environments and drive next-generation workplace collaboration.
Agora, Inc. (NASDAQ: API) will announce its first quarter financial results for the period ending March 31, 2021, on May 24, 2021, after U.S. market close. A conference call to discuss these results is scheduled for the same day at 6 p.m. Pacific Time. Interested parties can register online to participate in the call and receive dial-in details. A digital recording will be available shortly after the call concludes. Agora continues to focus on enhancing real-time engagement through its advanced API solutions for developers worldwide.
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