Agora, Inc. (API) Q3 2024 Earnings Call Transcript

Agora, Inc. (NASDAQ:API) Q3 2024 Results Conference Call November 25, 2024 8:00 PM ET

Company Participants

Tony Zhao – Founder, Chairman and CEO
Jingbo Wang – CFO

Conference Call Participants

Daley Li – Bank of America

Operator

Good day, and thank you for standing by. Welcome to the Agora Inc. Third Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

The company’s earnings results, press release, earnings presentation, SEC filings and a replay of today’s call can be found on its IR website at investor.agora.io. Joining me today are Tony Zhao, Founder, Chairman and CEO; Jingbo Wang, the company’s CFO.

Reconciliations between the company’s GAAP and non-GAAP results can be found in its earnings press release. During this call, the company will make forward-looking statements about its future financial performance and other future events and trends. These statements are only predictions that are based on what the company believes today and actual results may differ materially. These forward-looking statements are subject to risks and uncertainties, assumptions and other factors that could affect the company’s financial results and the performance of its business in which the company discussed in detail in its filings with the SEC, including today’s earnings press release and the risk factors and other information contained in the final prospectus relating to its initial public offering. Agora Inc. remains no obligation to update any forward-looking statements the company may make on today’s call.

With that, let me turn it over to Tony. Hi, Tony.

Tony Zhao

Thanks, operator, and welcome, everyone, to our earnings call. I will first review our operating results in the past quarter. Agora’s revenues were $15.7 million in the third quarter, up 3% year-over-year, mainly driven by business expansion in certain use cases, such as live shopping. Shengwang revenues were RMB 130 million in the second quarter, down 9% year-over-year, excluding