Agora (API.US) Q3 revenue misses expectations, net loss widens YoY

Market IntelMonday, Nov 25, 2024 6:40 pm ET

1min read

Zhitong Finance learned that Agora (API.US) released its 2024 Q3 earnings report. The Company achieved revenue of US$31.6 million in Q3, down 9.8% YoY, and the expected value was US$40 million; the loss per ADS was US$0.26, compared with US$0.23 in the same period last year. The net loss was US$24.18 million, compared with US$22.51 million in the same period last year.

Business focusing on the Chinese market achieved revenue of RMB112.9 million, down 20% YoY; Agora focusing on non-Chinese markets achieved revenue of US$15.7 million, up 2.6% YoY.

Regarding the number of customers, as of September 30, 2024, Agora had 3,641 active customers, down 9.7% YoY, and Agora had 1,762 active customers, up 5.9% YoY.

Based on the information available at present, the Company expects its total revenue in Q4 2024 to be between US$34 million and US$36 million, excluding the revenue from certain terminal low-margin products. The Company also expects a significant improvement in its net income/(loss) in Q4.

After the release of the results, as of the time of writing, Agora's share price fell 7.56% to US$4.4 after hours.

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