Agora, Inc. reported Q2 2024 financial results with total revenues of $34.2 million, up 0.5% YoY. Agora's revenue grew 2.0% to $15.6 million, while Shengwang's revenue increased 0.3% to RMB131.9 million ($18.6 million). Net loss narrowed to $9.2 million from $45.3 million in Q2 2023.Gross margin declined slightly to 62.0% from 63.3% YoY. Operating expenses decreased 14.4% to $32.6 million. The company ended the quarter with $371.0 million in cash and equivalents. Active customers for Agora increased 7.2% YoY to 1,672, while Shengwang's decreased 5.5% to 3,774.For Q3 2024, Agora expects revenues between $31.5-$33.5 million, reflecting the planned end of sale for certain low-profitability products. The company sees opportunities in conversational AI applications and believes the intersection of real-time engagement and conversational AI will be a key future growth driver.

Agora, Inc. reported Q2 2024 financial results with total revenues of $34.2 million, up 0.5% YoY. Agora's revenue grew 2.0% to $15.6 million, while Shengwang's revenue increased 0.3% to RMB131.9 million ($18.6 million). Net loss narrowed to $9.2 million from $45.3 million in Q2 2023.Gross margin declined slightly to 62.0% from 63.3% YoY. Operating expenses decreased 14.4% to $32.6 million. The company ended the quarter with $371.0 million in cash and equivalents. Active customers for Agora increased 7.2% YoY to 1,672, while Shengwang's decreased 5.5% to 3,774.For Q3 2024, Agora expects revenues between $31.5-$33.5 million, reflecting the planned end of sale for certain low-profitability products. The company sees opportunities in conversational AI applications and believes the intersection of real-time engagement and conversational AI will be a key future growth driver.