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API on Nasdaq

Agora, Inc.

Logo: agora.io3

Agora, Inc. is a Real-Time Voice and Video Engagement Company.1 It is headquartered in Santa Clara, California.1 Its shares trade on Nasdaq under the symbol API.1

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Last updated Oct 21, 2026.

Overview

$141.1MRevenue, fiscal 20254
$9.5MNet income, fiscal 20254

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  • TickerAPI on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersSanta Clara, California1
  • Websitewww.agora.io/en
  • Incorporated inCayman Islands5
  • Business address2804 Mission College Blvd,, Santa Clara, Ca 950545
  • Filer categoryAccelerated filer5

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Agora, Inc. image from its website
Image: agora.io3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

66.4%Gross margin4
-6.7%Operating margin4
6.8%Net margin4
5.9%Revenue growth, 20254
1.7%Return on equity4
0.14×Debt to equity4
$25.5MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 98% of the revenue Agora, Inc. broke down this way in fiscal 2025.

  1. Service$138.0M498%up 8% from 2024
  2. Product and Service, Other$3.1M42%down 45% from 2024
Products and services by year
Products and services202320242025
Service$133.1M$127.6M$138.0M
Product and Service, Other$8.4M$5.6M$3.1M

Regions

China brought in 47% of the revenue Agora, Inc. broke down this way in fiscal 2025.

  1. China$66.0M447%down 4% from 2024
  2. Other Countries$46.8M433%up 15% from 2024
  3. United States$28.2M420%up 17% from 2024
Regions by year
Regions202320242025
China$79.2M$68.6M$66.0M
Other Countries$39.5M$40.6M$46.8M
United States$22.8M$24.1M$28.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue34¢$47.4M
  • Research and development39¢$55.5M
  • Other costs20¢$28.3M
  • Interest0¢$36.0K
  • Income tax0¢$323.0K
  • Profit7¢$9.5M

Out of $141.1M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending6¢$1.7M
  • Kept or used elsewhere94¢$25.5M

Out of $27.2M of cash from operations.4

Financial statements

Revenue6789104$141.1M in 2025+223% since 2018
0$50.0M$100.0M$150.0M$200.0M2018: $43.7M$43.7M20182019: $64.4M$64.4M2019+48%2020: $133.6M$133.6M2020+107%2021: $168.0M$168.0M2021+26%2022: $160.7M$160.7M2022−4%2023: $141.5M$141.5M2023−12%2024: $133.3M$133.3M2024−6%2025: $141.1M$141.1M2025+6%
Gross profit6789104$93.7M in 2025+202% since 2018
0$50.0M$100.0M$150.0M2018: $31.0M$31.0M20182019: $44.0M$44.0M2019+42%2020: $86.4M$86.4M2020+96%2021: $104.0M$104.0M2021+20%2022: $99.4M$99.4M2022−4%2023: $89.5M$89.5M2023−10%2024: $85.4M$85.4M2024−5%2025: $93.7M$93.7M2025+10%
Operating income6789104-$9.4M in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2018: $262.6K$262.6K20182019: -$6.1M-$6.1M20192020: -$5.2M-$5.2M2020−15%2021: -$80.7M-$80.7M2021+1454%2022: -$115.8M-$115.8M2022+43%2023: -$87.3M-$87.3M2023−25%2024: -$53.3M-$53.3M2024−39%2025: -$9.4M-$9.4M2025−82%
Net income6789104$9.5M in 2025+2433% since 2018
-$150.0M-$100.0M-$50.0M0$50.0M2018: $376.1K$376.1K20182019: -$6.2M-$6.2M20192020: -$3.1M-$3.1M2020−50%2021: -$72.4M-$72.4M2021+2223%2022: -$120.4M-$120.4M2022+66%2023: -$87.2M-$87.2M2023−28%2024: -$42.7M-$42.7M2024−51%2025: $9.5M$9.5M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Total revenues$141.1M$133.3M$141.5M
Cost of revenues-$47.4M-$47.8M-$52.1M
Gross profit$93.7M$85.4M$89.5M
Research and development expenses-$55.5M-$80.3M-$77.7M
Sales and marketing expenses-$26.4M-$27.2M-$34.0M
General and administrative expenses-$22.7M-$32.8M-$35.0M
Total operating expenses-$104.5M-$140.3M-$146.6M
Other operating income$1.4M$1.6M$1.7M
Impairment of goodwill-$31.9M
Loss from operations-$9.4M-$53.3M-$87.3M
Exchange (loss) gain$1.6M$168.0K-$151.0K
Interest income$15.1M$16.9M$18.8M
Interest expense-$36.0K-$253.0K-$20.0K
Losses from extinguishment of convertible note-$1.2M
Investment (loss) income$1.5M-$3.3M-$18.5M
Other income$1.2M$793.0K$1.6M
(Loss) income before income taxes$9.9M-$39.0M-$86.8M
Income taxes-$323.0K-$258.0K-$422.0K
Equity in loss of affiliates-$32.0K-$3.5M-$31.0K
Net (loss) income attributable to Agora, Inc.'s ordinary shareholders$9.5M-$42.7M-$87.2M
Foreign currency translation adjustments$2.3M-$2.2M-$3.4M
Unrealized gain on debt securities$1.4M
Total comprehensive (loss) income attributable to Agora, Inc.'s ordinary shareholders$11.8M-$45.0M-$89.3M
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-basic367.9M shares373.1M shares398.4M shares
Weighted average number of ordinary shares-diluted395.4M shares373.1M shares398.4M shares
Share-based compensation$5.6M$22.7M$24.6M

Compare Agora, Inc. with another company

Corporate structure

Agora, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Agora, Inc.

  • Agora, Inc. Santa Clara, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Agora, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$39.6M4 Dec 31, 2025$38.5M4 Dec 31, 2024+2.9%
Accumulated depreciation$35.6M4 Dec 31, 2025$33.8M4 Dec 31, 2024+5.4%
Property and equipment, net$88.2M4 Dec 31, 2025$49.2M4 Dec 31, 2024+79.4%
Operating-lease assets (leased space)$2.1M4 Dec 31, 2025$3.9M4 Dec 31, 2024−44.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$75.4M4 Dec 31, 2025$27.1M4 Dec 31, 2024+178.6%
Marketable securities, current$4.6M4 Dec 31, 2025$2.8M4 Dec 31, 2024+64.4%
Stakes in other companies (equity method)$6.1M4 Dec 31, 2025$6.2M4 Dec 31, 2024−1.4%
Long-term investments$29.2M4 Dec 31, 2025$40.7M4 Dec 31, 2024−28.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$96.0K4 Dec 31, 2025$611.0K4 Dec 31, 2024−84.3%
Finite-lived intangibles, gross$5.5M4 Dec 31, 2025$5.5M4 Dec 31, 20240%
Accumulated amortization$5.4M4 Dec 31, 2025$4.9M4 Dec 31, 2024+10.6%

Leadership

Who has led Agora, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Bin Zhao2026–now
  • Chief executive officerBin Zhao Mar 17, 2026 to now11
Board members and other officers (5)

Timeline

  1. Mar 17, 2026New chief executive Bin Zhao becomes CEO11

Calendar

Coming up

  1. Nov 18, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.03 a share, on Nov 19, 2025.15

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

92 filings to the SEC since October 2021: 6 annual reports, 17 insider forms, 17 large holders, 52 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Sep 8, 20264 EDGAR
  5. Aug 14, 20266-K EDGAR
  6. Aug 3, 20264 EDGAR
  7. Jul 2, 20264 EDGAR
  8. Jun 10, 20263/A EDGAR
  9. Jun 2, 20264 EDGAR
  10. Jun 1, 20266-K EDGAR
  11. May 28, 20266-K EDGAR
  12. May 15, 2026SCHEDULE 13G/A EDGAR
  13. May 15, 2026SCHEDULE 13G/A EDGAR
  14. May 6, 20264 EDGAR
  15. Apr 15, 202620-F EDGAR
  16. Apr 1, 20263 EDGAR
  17. Apr 1, 20264 EDGAR
  18. Mar 31, 20263 EDGAR
  19. Mar 31, 20263 EDGAR
  20. Mar 23, 20263 OWNERSHIP DOCUMENT EDGAR

The 92 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 58. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Susquehanna International Group, Llp7,484,011$29.9M0.0%No change
TMT General Partner Ltd2,352,651$9.4M4.8%No change
Hhlr Advisors, Ltd.2,098,553$8.4M1.0%No change
Allspring Global Investments Holdings, LLC1,783,785$7.1M0.0%No change
Arrowstreet Capital, Limited Partnership1,040,144$4.2M0.0%+263,938
Yunqi Capital Ltd964,203$3.8M3.1%−1,041,097
Morgan Stanley866,109$3.5M0.0%−196,143
Renaissance Technologies LLC739,500$3.0M0.0%+243,371
Yiheng Capital Management, L.P.725,795$2.9M1.2%No change
Clearline Capital LP636,960$2.5M0.2%New
Connor, Clark & Lunn Investment Management Ltd.509,002$2.0M0.0%+178,287
Harber Asset Management LLC506,189$2.0M1.2%+341,320
Dimensional Fund Advisors LP375,567$1.5M0.0%−13,462
Two Sigma Investments, LP270,134$1.1M0.0%+151,005
Millennium Management LLC255,431$1.0M0.0%New
Peak6 LLC212,634$848.4K0.0%−6,515
Sei Investments Co201,474$803.9K0.0%−10,637
UBS Group AG159,464$636.3K0.0%−811,410
Citadel Advisors LLC158,691$633.2K0.0%+23,975
Oasis Management Co Ltd.153,885$614.0K0.1%No change
Jpmorgan Chase & Co136,797$573.2K0.0%+31,466
American Century Companies Inc133,016$530.7K0.0%−152
State Street Corp123,919$494.4K0.0%−1,924
Optimus Prime Fund Management Co., Ltd.111,234$443.8K0.0%No change
Russell Investments Group, Ltd.107,923$443.7K0.0%+65,547

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Agora, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAgora, Inc.2
  • CIK0001802883
  • Filer statusAccelerated filer not an emerging growth company; not a shell company24
  • Incorporated inCayman Islands24
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address2804 Mission College Blvd,, Santa Clara, CA 950542
  • Phone1-408-879-58852
  • Shares outstanding273,084,833 Common Class A shares; 76,179,938 Common Class B shares as of Dec 31, 202524
  • AuditorPricewaterhouseCoopers Zhong Tian LLP, Shanghai, the People’s Republic of China PCAOB ID 1424; it also attests to the company’s internal control over financial reporting24
  • On EDGAR sinceMar 9, 20202
  • Filings125 in all: 6-K (36), 144 (15), SC 13G/A (11), 4 (9), SC 13G (9), 3 (7), 20-F (6), SCHEDULE 13G/A (6)2
    All 22 form types

    CORRESP (5), UPLOAD (5), S-8 (3), DRS/A (2), F-1/A (2), 20-F/A (1), 3/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRSLTR (1), EFFECT (1), F-1 (1)

  • Latest filingsAnnual report (20-F) Apr 15, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares (each American depositary shares representing four Class A ordinary share, par value US$0.0001 each)APIThe Nasdaq Global Select Market
Class A ordinary shares, with a par value of US$0.0001 eachThe Nasdaq Global Select Market

From the cover page of the 20-F filed Apr 15, 2026 (Section 12(b) of the Exchange Act).24

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Company websiteAgora, Inc. logo
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