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.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
141,057
133,256
141,538
160,670
Cost of Sales
(47,393)
(47,809)
(52,063)
(61,247)
Gross Profit
93,664
85,447
89,475
99,423
Selling, General & Administrative Expenses
(49,022)
(59,992)
(68,934)
(92,440)
Research & Development Expenses
(55,459)
(80,344)
(77,666)
(114,502)
Other Operating Expenses
(1,407)
(1,578)
30,199
8,244
Operating Profit
199,552
227,361
205,876
298,121
Interest and Investment Income
16,508
13,613
310
9,636
Interest Expense
(36)
(253)
(20)
—
Non-Operating Income
2,821
961
268
(13,834)
Total Non-Operating Income
19,293
14,321
558
(4,198)
Income Before Provision for Income Taxes
218,845
241,682
206,434
293,923
Provision for Income Taxes
(323)
(258)
(422)
(663)
Consolidated Net Income
219,168
241,940
206,856
294,586
Net Income Attributable to Minority Interests and Other
32
3,479
31
(244)
Net Income Attributable to Common Shareholders
9,528
(42,727)
(87,219)
(120,380)
Basic EPS
0.12
-0.44
-0.88
-1.08
Diluted EPS
0.08
-0.44
-0.88
-1.08
Basic Weighted Average Shares Outstanding
91,975
93,281
99,596
111,607
Diluted Weighted Average Shares Outstanding
98,855
93,281
99,596
111,607
Shares Outstanding
87,316
93,334
92,202
106,660
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
75,446
27,083
36,894
45,673
Short-Term Investments
144,043
242,578
179,760
382,039
Total Cash and Cash Equivalents
219,489
269,661
216,654
427,712
Accounts Receivable
24,867
30,952
34,668
32,803
Total Trade Receivables
24,867
30,952
34,668
32,803
Other Current Assets
15,744
27,437
10,107
24,964
Total Current Assets
260,100
328,050
261,429
485,479
Net Property, Plant & Equipment
90,331
53,032
26,719
15,290
Net Intangible Assets
161,687
162,006
168,520
2,727
Goodwill
—
—
—
31,928
Long-Term Investments
189,183
137,610
207,020
94,159
Other Long-Term Assets
19,798
18,956
10,907
171,132
Total Assets
721,099
699,654
674,595
800,715
Accounts Payable
9,638
12,965
12,996
10,103
Accrued Expenses
21,113
22,049
26,588
48,878
Current Portion of Leases
1,521
1,749
2,447
1,932
Unearned Revenue
7,906
8,738
7,765
8,352
Other Current Liabilities
16,607
12,834
7,098
2,388
Total Current Liabilities
56,785
58,335
56,894
71,653
Long-Term Debt
80,420
46,469
11,027
—
Leases
399
1,922
1,726
340
Other Long-Term Liabilities
20,647
20,267
199
462
Total Long-Term Liabilities
101,466
68,658
12,952
802
Total Liabilities
158,251
126,993
69,846
72,455
Common Stock
47
47
47
47
Treasury Stock
(95,238)
(72,739)
(79,716)
(41,815)
Additional Paid-in Capital
1,145,126
1,144,238
1,138,346
1,134,704
Accumulated Other Comprehensive Income
(9,987)
(12,257)
(10,027)
(7,994)
Retained Earnings
(477,100)
(486,628)
(443,901)
(356,682)
Total Common Shareholders' Equity
562,848
572,661
604,749
728,260
Total Shareholders' Equity
562,848
572,661
604,749
728,260
Total Liabilities and Shareholders' Equity
721,099
699,654
674,595
800,715
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
9,528
(42,727)
(87,219)
(120,380)
Depreciation & Amortization
5,936
7,545
11,645
11,819
Share-Based Compensation Expense
5,564
22,737
24,612
32,363
Other Adjustments
4,593
18,000
61,389
29,022
Changes in Trade Receivables
3,384
(5,114)
(9,622)
(8,597)
Changes in Accounts Payable
(3,117)
(248)
3,246
5,526
Changes in Accrued Expenses
858
(5,865)
(4,134)
(1,934)
Changes in Income Taxes Payable
(1,532)
1,326
(1,157)
(391)
Changes in Unearned Revenue
(718)
1,133
(643)
1,773
Changes in Other Operating Activities
2,737
(10,916)
(11,728)
(1,581)
Cash from Operating Activities
27,233
(14,129)
(13,611)
(52,380)
Capital Expenditure
(33,615)
(37,794)
(11,716)
(4,123)
Proceeds from Sale of Property, Plant & Equipment
41
93
92
—
Purchases of Intangible Assets
—
—
(5,133)
(171,592)
Purchases of Investments
(310,312)
(236,153)
(413,277)
(519,830)
Proceeds from Sale of Investments
349,881
235,805
484,588
544,483
Payments for Business Acquisitions
—
—
(3,680)
—
Proceeds from Business Divestments
7,319
—
5,769
7,000
Cash from Investing Activities
13,314
(38,049)
56,643
(144,062)
Issuance of Long-Term Debt
32,375
35,790
10,909
—
Net Issuance / (Repayments) of Long-Term Debt
32,375
35,790
10,909
—
Issuance of Common Shares
609
853
634
1,096
Repurchases of Common Shares
(27,719)
(11,057)
(62,911)
(41,135)
Net Issuance / (Repurchases) of Common Shares
(27,110)
(10,204)
(62,277)
(40,039)
Other Financing Activities
(273)
20,408
(1,000)
(1,111)
Cash from Financing Activities
4,992
45,994
(52,368)
(41,150)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
(721)
(162)
(804)
(918)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash