Welcome to our dedicated page for Agora American Depositary Shares news (Ticker: API), a resource for investors and traders seeking the latest updates and insights on Agora American Depositary Shares 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 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.
Agora, Inc. has partnered with Wipro to enhance real-time engagement (RTE) services for voice and video communication. This collaboration aims to deliver high-quality and reliable RTE capabilities, allowing companies to better connect with customers and partners. Agora's platform will provide customizable APIs for integrating video and voice into applications, including Augmented Reality (AR) features. This partnership reflects a growing demand for RTE technologies across industries, as highlighted by Agora's COO, Reggie Yativ, and Wipro's General Manager, Michael Vollmer.
Agora (NASDAQ: API) announced the launch of its Startup Program aimed at providing global entrepreneurs with essential resources and access to leading accelerators, incubators, and venture capital. The initiative is backed by partnerships with organizations like Global Accelerator Network and Techstars Toronto to foster growth in real-time engagement applications. The program offers benefits including up to 1 million free minutes for API usage, discounted HIPAA support, and backend guidance from experts. Agora has appointed three experienced team members to spearhead this effort.
Agora, Inc. (NASDAQ: API) reported its Q4 and full-year 2020 financial results, highlighting a 74.1% year-over-year revenue increase to $33.3 million in Q4. Active customers surged by 101.2% to 2,095. However, the company posted a net loss of $6.2 million for the quarter, compared to $2.3 million in Q4 2019. For FY 2020, revenues reached $133.6 million, up 107.3%, with a reduced net loss of $3.1 million. Looking forward, Agora projects revenues for 2021 between $178 million and $182 million.
Agora, Inc. (NASDAQ: API) will release its financial results for Q4 and fiscal year 2020 on February 22, 2021, after U.S. market close. A conference call is scheduled for the same day at 5 PM PT / 8 PM ET to discuss the results. Interested parties can register for the call via the provided link. Following the call, a digital recording will be available for replay. Agora specializes in real-time engagement solutions, offering developers APIs for seamless video and voice integration in applications.
Agora, Inc. (NASDAQ: API) has announced a private placement agreement with an accredited investor to purchase $250 million of newly issued Class A ordinary shares, representing approximately 4.5% of the company's total outstanding shares. This transaction is expected to close in February 2021, subject to customary closing conditions. The issuance will be exempt from registration under the Securities Act, indicating a private offering. Agora aims to enhance its real-time engagement platform with this capital influx, promoting its mission to integrate real-time voice and video APIs for developers.
Agora, Inc. (NASDAQ: API) has announced its definitive agreement to acquire Easemob, a leading provider of instant messaging APIs in China, in an all-cash transaction. This acquisition aims to enhance Agora's real-time engagement offerings by integrating video, voice, and messaging functionalities. Agora's CEO, Tony Zhao, emphasized the strategic fit of Easemob, which is expected to accelerate their vision of making real-time engagement ubiquitous. The deal is slated to close in Q1 2021, pending customary conditions, though shareholders are warned not to place undue reliance on the announcement.
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