Business Description

Agora, Inc. is a global leader in Real-Time Engagement Platform-as-a-Service (RTE-PaaS) solutions. The company provides developers with application programming interfaces (APIs) and software development kits (SDKs) to seamlessly embed real-time voice, video, chat, and interactive streaming into their applications. Operating under a dual-brand strategy with Agora serving the global market and Shengwang focused on China, the company is distinctive for its proprietary Software-Defined Real-Time Network (SD-RTN) and its expanding capabilities in conversational AI infrastructure.

Everything on Agora, Inc.

Revenue (FY2025) $141M
YoY growth +5.9%
Operating margin 141.5%
Direction Expanding
Gross margin 66.4%
Net margin 6.8%

Earnings Transcripts

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Leadership & board

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Share Repurchase Program

Total authorized
US$200 million (of Class A ordinary shares, including in the form of ADSs)
Remaining (Authorized by the board in February 2022 for 12 months and extended for successive 12-month periods in each of February 2023, 2024, 2025 and 2026 (most recently through February 28, 2027), with all other terms unchanged)
Approximately US$56.9 million as of December 31, 2025 (US$143.1 million repurchased of the US$200 million authorized)
Latest FY repurchased
US$27.7 million (repurchase of Class A ordinary shares in fiscal year 2025 per the consolidated statement of cash flows)

Customer Concentration

Agora derives a substantial portion of revenue from a limited number of customers; in 2023, 2024 and 2025 its top ten customers (after aggregating customers with multiple accounts) accounted for approximately 24.1%, 23.1% and 23.7% of revenues, respectively.

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