$API

Agora, Inc.

CIK:0001802883|SEC Filings

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Total revenues	$ 141,057	$ 133,256	$ 141,538
Cost of revenues	(47,393)	(47,809)	(52,063)
Gross profit	93,664	85,447	89,475
Operating expenses:
Research and development expenses	(55,459)	(80,344)	(77,666)
Sales and marketing expenses	(26,352)	(27,220)	(33,958)
General and administrative expenses	(22,670)	(32,772)	(34,976)
Total operating expenses	(104,481)	(140,336)	(146,600)
Other operating income	1,407	1,578	1,729
Impairment of goodwill			(31,928)
Loss from operations	(9,410)	(53,311)	(87,324)
Exchange (loss) gain	1,623	168	(151)
Interest income	15,051	16,941	18,836
Interest expense	(36)	(253)	(20)
Losses from extinguishment of convertible note			(1,230)
Investment (loss) income	1,457	(3,328)	(18,526)
Other income	1,198	793	1,649
(Loss) income before income taxes	9,883	(38,990)	(86,766)
Income taxes	(323)	(258)	(422)
Equity in loss of affiliates	(32)	(3,479)	(31)
Net (loss) income attributable to Agora, Inc.'s ordinary shareholders	9,528	(42,727)	(87,219)
Other comprehensive (loss) income:
Foreign currency translation adjustments	2,270	(2,230)	(3,418)
Unrealized gain on debt securities			1,385
Total comprehensive (loss) income attributable to Agora, Inc.'s ordinary shareholders	$ 11,798	$ (44,957)	$ (89,252)
Net (loss) income per share attributable to Agora, Inc.'s ordinary shareholders-basic	$ 0.03	$ (0.11)	$ (0.22)
Net (loss) income per share attributable to Agora, Inc.'s ordinary shareholders-diluted	$ 0.02	$ (0.11)	$ (0.22)
Weighted average number of ordinary shares-basic	367,898,081	373,122,317	398,384,385
Weighted average number of ordinary shares-diluted	395,420,348	373,122,317	398,384,385
Share-based compensation expenses included in:
Share-based compensation	$ 5,564	$ 22,737	$ 24,612
Cost of revenues
Share-based compensation expenses included in:
Share-based compensation	82	212	621
Research and development expenses
Share-based compensation expenses included in:
Share-based compensation	3,274	17,062	12,696
Sales and marketing expenses
Share-based compensation expenses included in:
Share-based compensation	694	778	4,145
General and administrative expenses
Share-based compensation expenses included in:
Share-based compensation	1,514	4,685	7,150
Real-time engagement service revenues
Total revenues	137,971	127,624	133,098
Real-time engagement on-premise solution and other revenues
Total revenues	$ 3,086	$ 5,632	$ 8,440

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net Income (Loss)	$ 9,528	$ (42,727)	$ (87,219)
Share-based compensation expense	5,564	22,737	24,612
Allowance for current expected credit losses	4,031	8,728	7,046
Depreciation of property and equipment	2,008	3,459	7,096
Amortization of intangible assets	515	663	1,384	$ 500
Amortization of land use right	3,413	3,423	3,165
Deferred tax benefit	(81)	(102)	(212)
Amortization of right-of-use asset	2,060	2,576	2,935
Interest income on debt securities	0		(105)
Loss from equity in affiliates	32	3,479	31
Losses from extinguishment of convertible note			1,230
Investment loss (income)	(1,457)	3,328	18,526
Impairment of goodwill			31,928
Return on investment from equity affiliates			21
(Gain) loss on disposal of property and equipment	8	(9)	(11)
Changes in assets and liabilities:
Accounts receivable	2,406	(5,047)	(9,100)
Contract assets	978	(67)	(522)
Prepayments and other current assets	7,623	(13,893)	(1,801)
Other non-current assets	(2,723)	5,855	(7,278)
Accounts payable	(3,117)	(248)	3,246
Advances from customers	(970)	1,071	(483)
Taxes payable	(1,532)	1,326	(1,157)
Operating lease liabilities	(2,163)	(2,878)	(2,649)
Deferred income	252	62	(160)
Accrued expenses and other liabilities	858	(5,865)	(4,134)
Net cash (used in) provided by operating activities	27,233	(14,129)	(13,611)
Cash flows from investing activities:
Purchase of short-term bank deposits	(60,963)	(68,300)	(219,445)
Purchase of short-term financial products issued by banks	(65,348)	(70,391)	(29,899)
Purchase of short-term investments	0		(791)
Proceeds from maturity of short-term bank deposits	204,334	130,020	467,058
Proceeds from maturity of short-term financial products issued by banks	144,923	105,395	17,522
Proceeds from sale of short-term investments	514	235
Proceeds from dividends of short-term investments	110
Purchase of long-term bank deposits	(184,001)	(35,500)	(143,127)
Purchase of long-term financial products issued by banks		(61,400)	(20,000)
Purchase of long-term investments		(562)	(15)
Purchase of property and equipment	(1,701)	(2,546)	(924)
Purchase of land use right			(5,133)
Purchase of construction in progress for the headquarters project	(31,914)	(35,248)	(10,792)
Cash paid for an acquisition			(3,680)
Disposal of property and equipment	41	93	92
Cash received from business disposal	7,319		5,769
Cash received from disposal of long-term investments		155
Return of investment from equity affiliates			8
Net cash provided by (used in) investing activities	13,314	(38,049)	56,643
Cash flows from financing activities:
Proceeds from long-term borrowings for the headquarters project	32,375	35,790	10,909
Proceeds from exercise of employees' share options	609	853	634
Payment of financing cost	(273)
Deposit received in relation to the headquarters project		20,408
Deposits returned for business disposal			(1,000)
Net cash (used in) provided by financing activities	4,992	45,994	(52,368)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(721)	(162)	(804)
Net (decrease) increase in cash, cash equivalents and restricted cash	44,818	(6,346)	(10,140)
Cash, cash equivalents and restricted cash				$ 47,314
Cash, cash equivalents and restricted cash at beginning of year	30,828	37,174
Cash, cash equivalents and restricted cash at end of year	75,646	30,828	37,174
Supplemental disclosure of cash flow information:
Income taxes paid	233	185	152
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities	2,163	2,878	2,649
Right-of-use assets obtained in exchange for operating lease obligations	90	2,325	4,588
Non-cash financing and investing activities:
Payables for property and equipment	31	398	12
Payables for financing cost	1,762
Proceeds receivable from exercise of employees' share options	35	417	116
Payables for treasury shares, at cost	326	83	210
Payables for construction in progress for the headquarters project	16,607	12,834	7,098
Settlement of compensation costs in relation to an acquisition with shares			1,830
Class A Ordinary Shares
Cash flows from financing activities:
Repurchase of Class A ordinary shares	$ (27,719)	$ (11,057)	$ (62,911)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 75,446	$ 27,083
Short-term bank deposits	84,460	168,327
Short-term financial products issued by banks	55,000	71,464
Short-term investments	4,583	2,787
Accounts receivable, net	24,867	30,952
Prepayments and other current assets	14,590	22,593
Contract assets	123	1,099
Restricted cash	200	3,745
Held-for-sale assets	831
Total current assets	260,100	328,050
Non-current assets:
Property and equipment, net	3,947	4,680
Construction in progress in relation to the headquarters project	84,239	44,486
Operating lease right-of-use assets	2,145	3,866
Intangible assets	96	611
Long-term bank deposits	160,001	35,500
Long-term financial products issued by banks	0	61,400
Long-term investments	29,182	40,710
Land use right, net	161,591	161,395
Other non-current assets	19,798	18,956
Total non-current assets	460,999	371,604
Total assets	721,099	699,654
Current liabilities:
Accounts payable	9,638	12,965
Advances from customers	7,906	8,738
Taxes payable	696	2,210
Current operating lease liabilities	1,521	1,749
Payables for construction cost	16,607	12,834
Accrued expenses and other current liabilities	20,417	19,839
Total current liabilities	56,785	58,335
Non-current liabilities:
Long term payable	3	1
Long-term operating lease liabilities	399	1,922
Deferred tax liabilities	12	92
Long-term borrowings in relation to the headquarters project	80,420	46,469
Advance in relation to the headquarters project	20,632	20,174
Total non-current liabilities	101,466	68,658
Total liabilities	158,251	126,993
Commitments and contingencies (Note 22)
Shareholders' equity
Additional paid-in-capital	1,145,126	1,144,238
Treasury shares at cost	(95,238)	(72,739)
Accumulated other comprehensive loss	(9,987)	(12,257)
Accumulated deficit	(477,100)	(486,628)
Total shareholders' equity	562,848	572,661
Total liabilities, and shareholders' equity	721,099	699,654
Common Class A
Shareholders' equity
Ordinary shares	39	39
Common Class B
Shareholders' equity
Ordinary shares	$ 8	$ 8