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Agora, Inc.

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Agora, Inc. • NASDAQ
$3.61 ▲ 1.98% (+0.07)
Market Cap $335.94 M
52w High $6.99
52w Low $2.52
Dividend Yield 0%
P/E 51.57
Volume 168.69K
Outstanding Shares 93.06M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $35.421M ▲ $25.352M ▼ $2.745M ▲ 7.749% ▲ $0.03 ▲ $3.937M ▲
Q2-2025 $34.259M ▲ $25.988M ▼ $1.462M ▲ 4.267% ▲ $0.016 ▲ $3.513M ▲
Q1-2025 $33.269M ▼ $26.337M ▼ $407K ▲ 1.223% ▲ $0.004 ▲ $2.801M ▲
Q4-2024 $34.453M ▲ $27.828M ▼ $158K ▲ 0.459% ▲ $0.002 ▲ $2.089M ▲
Q3-2024 $31.573M $45.738M $-24.18M -76.584% $-0.26 $-17.421M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $170.113M ▲ $710.104M ▲ $143.456M ▲ $566.648M ▲
Q2-2025 $139.831M ▼ $697.613M ▼ $132.236M ▲ $565.377M ▼
Q1-2025 $145.892M ▼ $703.759M ▲ $130.731M ▲ $573.028M ▲
Q4-2024 $269.661M ▼ $699.654M ▲ $126.993M ▲ $572.661M ▼
Q3-2024 $303.728M $691.496M $114.956M $576.54M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.745M ▲ $724.138K ▲ $30.495M ▲ $7.694M ▲ $39.453M ▲ $-12.002M ▼
Q2-2025 $1.462M ▲ $-352K ▼ $5.222M ▲ $-7.174M ▼ $-2.314M ▼ $-4.141M ▼
Q1-2025 $407K ▲ $17.577M ▲ $-14.417M ▲ $9.682M ▼ $12.013M ▲ $6.741M ▲
Q4-2024 $158K ▲ $4.535M ▲ $-18.869M ▼ $13.654M ▲ $-1.52M ▲ $-9.067M ▲
Q3-2024 $-24.18M $-4.622M $-9.101M $7.385M $-5.519M $-16.873M

Revenue by Products

Product Q4-2014
HSOR
HSOR
 $0 ▲

Five-Year Company Overview

Income Statement

Income Statement Agora’s revenues have been fairly flat over the past several years, with a small step-down after an early post‑IPO growth spurt. Gross profit has held up reasonably well, suggesting the core service still carries healthy economics, but the company continues to run at an operating loss. Losses widened during the heaviest investment years and have only partially improved since, indicating that spending on growth, R&D, and infrastructure has been running ahead of revenue scale. Earnings per share remain negative and somewhat volatile, pointing to a business still in transition toward sustainable profitability, even though more recent commentary outside this five‑year window suggests progress on that front.

Balance Sheet

Balance Sheet The balance sheet shows a company that started with a strong asset base and cash cushion but has drawn that cushion down over time. Total assets and shareholders’ equity have gradually shrunk, reflecting ongoing losses. Cash levels are now much lower than in the early years, reducing financial flexibility, though the company still carries only modest debt. Overall, the balance sheet is relatively clean but less robust than it once was, and it depends on eventually aligning spending with revenue to avoid further erosion of equity and liquidity.

Cash Flow

Cash Flow Agora has been consistently close to, but below, cash break‑even from its operations, generating small operating cash outflows in most years. Free cash flow was meaningfully negative during its peak investment period, driven by heavier capital spending on infrastructure and product capabilities, and has improved as those outlays have scaled back. The pattern suggests a move from aggressive build‑out toward more disciplined spending, but the business is still a net user of cash and relies on its remaining cash reserves and balance sheet strength to fund operations and innovation.

Competitive Edge

Competitive Edge Agora operates in a crowded communications and real‑time engagement space, facing large players like Twilio, Zoom, and Vonage. Its edge comes from specializing in many‑to‑many, low‑latency interactions rather than generic messaging or video, powered by its proprietary global real‑time network. This infrastructure, combined with a strong focus on developers—through easy‑to‑use APIs, SDKs, and tools—creates switching costs and fosters a loyal ecosystem. Network effects strengthen its position as more applications and users adopt the platform. Still, the company must continually prove its value against larger, well‑funded rivals and navigate pricing and feature competition.

Innovation and R&D

Innovation and R&D Agora’s strategy is clearly innovation‑led. Its Software Defined Real‑Time Network is a core differentiator, and the company is layering advanced conversational AI on top of this network. Products like the Conversational AI Engine and Studio, AI‑powered media features, a low‑code app builder, and an extensions marketplace all point to sustained, heavy R&D focus. The roadmap targets fast‑growing use cases—such as virtual events, live shopping, gaming, and telehealth—where ultra‑low latency and interactivity really matter. This innovation push offers meaningful upside but also helps explain the persistent losses: the company is prioritizing product depth and platform capabilities over near‑term margins.

Summary

Agora is a specialized real‑time engagement platform that has prioritized technology, global infrastructure, and developer adoption over short‑term profitability. Financially, revenue growth has plateaued and losses have persisted, gradually wearing down the once‑large cash buffer and equity base, though the balance sheet still carries limited debt. Cash burn has moderated as capital spending cooled, but the business has not yet demonstrated long periods of self‑funding operations in this five‑year window. Strategically, Agora’s custom real‑time network, developer‑centric tools, and growing AI capabilities give it a distinctive niche and some defensibility in a competitive market. The key tension is whether this technological and ecosystem advantage can translate into sustained, profitable growth before financial resources tighten further, making execution and disciplined scaling critical watch points.

NEWS

November 19, 2025 · 5:00 PM UTC

Agora, Inc. Reports Third Quarter 2025 Financial Results

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November 6, 2025 · 11:59 AM UTC

Agora and Akool Launch Conversational AI + Streaming Avatar Collaboration

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October 15, 2025 · 2:30 PM UTC

Agora Builds on Exotel's AgentStream to Deliver Real-Time AI Voice Bots

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September 24, 2025 · 9:02 AM UTC

Agora Brings 4G Connectivity, Visual Intelligence, and Faster Prototyping to Smart Hardware Kit

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September 10, 2025 · 9:02 AM UTC

Agora and Banuba Bring AR-Powered Engagement to Live Video at IBC 2025

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