Agora ( (API) ) has shared an update.
Agora, Inc. reported its financial results for the fourth quarter and fiscal year 2024, achieving GAAP profitability in the fourth quarter due to revenue growth from new use cases and cost management. The company announced the launch of its Conversational AI Engine, aiming to enhance real-time voice interactions with AI models, which is expected to drive future growth. Despite a 4.4% decrease in total revenues for the quarter, Agora’s revenue increased by 13.7% due to business expansion, while Shengwang’s revenue decreased by 17.6% due to the end-of-sale of certain products. The company reported a net income of $0.2 million for the quarter, compared to a net loss in the previous year, and a net loss of $42.7 million for the fiscal year, showing improvement from the previous year’s loss.
More about Agora
Agora, Inc. is a leader in real-time engagement technology, focusing on enabling interactive voice experiences and real-time interactions between humans and AI models. The company is known for its innovative solutions in the tech industry, particularly with its new Conversational AI Engine.
YTD Price Performance: 28.15%
Average Trading Volume: 1,470,550
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $515.6M
See more data about API stock on TipRanks’ Stock Analysis page.