API revenueFY2025$141.06M
- FY YoY
- +5.9%
- 5Y CAGR
- +1.1%
API revenue was $141.06M for fiscal 2025 (ended Dec 31, 2025), up 5.9% from fiscal 2024. Compound annual growth was +1.1% over 5 years. It rose in 4 of the last 7 fiscal years.
Agora Inc. (API) financials
For fiscal 2025 (ended Dec 31, 2025), Agora Inc. reported $141.06M of revenue and $9.53M of net income.
- Revenue, FY2025
- $141.06M
- Revenue growth, YoY
- +5.9%
- Net income, FY2025
- $9.53M
- Net margin
- 6.8%
- Free cash flow, FY2025
- $25.53M
- EPS, diluted, FY2025
- $0.02
- Cash
- $75.45M
- Total debt
- $80.42M
- P/E
- 37.19
- P/S
- 2.51
- Market cap
- $354.4M
FY2018FY2025
FY2018FY2025
FY2018FY2025
API revenue and earnings growth
API net incomeFY2025$9.53M
API net income was $9.53M for fiscal 2025 (ended Dec 31, 2025), compared with -$42.73M in fiscal 2024. Fiscal 2025 is the highest of the 8 fiscal years on file.
API EPSFY2025$0.02
API diluted EPS was $0.02 for fiscal 2025 (ended Dec 31, 2025), compared with -$0.11 in fiscal 2024.
API free cash flowFY2025$25.53M
API free cash flow was $25.53M for fiscal 2025 (ended Dec 31, 2025), compared with -$16.68M in fiscal 2024. Fiscal 2025 is the highest of the 8 fiscal years on file.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $141.06M | $133.26M | $141.54M | $160.67M | $167.98M | $133.56M | $64.43M | $43.66M |
| Cost of revenue | $47.39M | $47.81M | $52.06M | $61.25M | $63.98M | $47.20M | $20.42M | $12.63M |
| Gross profit | $93.66M | $85.45M | $89.47M | $99.42M | $104.01M | $86.36M | $44.01M | $31.02M |
| Research and development | $55.46M | $80.34M | $77.67M | $114.50M | $110.67M | $49.49M | $23.62M | $14.43M |
| Selling, general and admin | $22.67M | $32.77M | $34.98M | $38.67M | $30.33M | $18.01M | $7.18M | $5.37M |
| Operating income | -$9.41M | -$53.31M | -$87.32M | -$115.76M | -$80.69M | -$5.19M | -$6.09M | $262.6K |
| Interest expense | $36.0K | $253.0K | $20.0K | - | - | - | - | - |
| Pre-tax income | $9.88M | -$38.99M | -$86.77M | -$119.96M | -$71.84M | -$2.55M | -$5.38M | $481.2K |
| Income tax | $323.0K | $258.0K | $422.0K | $663.0K | $840.0K | $562.0K | $801.0K | $105.1K |
| Net income | $9.53M | -$42.73M | -$87.22M | -$120.38M | -$72.36M | -$3.12M | -$6.18M | $376.1K |
| EPS, basic | $0.03 | -$0.11 | -$0.22 | -$0.27 | -$0.16 | -$0.76 | -$0.58 | -$0.39 |
| EPS, diluted | $0.02 | -$0.11 | -$0.22 | -$0.27 | -$0.16 | -$0.76 | -$0.58 | -$0.39 |
| Diluted shares | 395.4M | 373.1M | 398.4M | 446.4M | 440.9M | 268.8M | 115.7M | 109.1M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $75.45M | $27.08M | $37.17M | $45.83M | $285.82M | $111.30M | $105.68M | $108.60M |
| Short-term investments | $4.58M | $2.79M | $7.98M | $14.14M | $469.64M | $524.22M | $0 | - |
| Receivables | $24.87M | $30.95M | $34.67M | $32.80M | $32.62M | $27.84M | $16.25M | - |
| Current assets | $260.10M | $328.05M | $261.43M | $485.48M | $797.69M | $670.74M | $123.23M | - |
| Goodwill | - | - | $0 | $31.93M | $56.14M | $3.09M | $0 | - |
| Total assets | $721.10M | $699.65M | $674.60M | $800.72M | $945.00M | $692.90M | $131.16M | - |
| Current liabilities | $56.78M | $58.34M | $56.89M | $71.65M | $73.80M | $36.31M | $18.48M | - |
| Total debt | $80.42M | $46.47M | $11.03M | $0 | - | - | - | - |
| Total liabilities | $158.25M | $126.99M | $69.85M | $72.45M | $78.74M | $36.44M | $18.48M | - |
| Shareholders' equity | $562.85M | $572.66M | $604.75M | $728.26M | $866.26M | $656.46M | -$127.29M | -$73.24M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27.23M | -$14.13M | -$13.61M | -$52.38M | -$20.00M | $6.56M | $706.0K | $536.1K |
| Capital expenditures | $1.70M | $2.55M | $924.0K | $4.12M | $12.21M | $12.88M | $4.80M | $2.26M |
| Free cash flow | $25.53M | -$16.68M | -$14.54M | -$56.50M | -$32.21M | -$6.31M | -$4.10M | -$1.72M |
| Investing cash flow | $13.31M | -$38.05M | $56.64M | -$144.06M | -$57.69M | -$535.05M | -$3.35M | -$3.77M |
| Financing cash flow | $4.99M | $45.99M | -$52.37M | -$41.15M | $251.94M | $533.64M | $0 | $65.77M |
| Share repurchases | - | - | - | - | - | $0 | $0 | $784.8K |
| Stock-based compensation | $5.56M | $22.74M | $24.61M | $32.36M | $31.48M | $11.97M | $3.40M | $2.85M |
| Depreciation and amortization | $2.01M | $3.46M | $7.10M | $9.50M | $8.28M | $4.46M | $1.87M | $922.4K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 5.9% | -5.9% | -11.9% | -4.4% | 25.8% | 107.3% | 47.6% | - |
| Gross margin | 66.4% | 64.1% | 63.2% | 61.9% | 61.9% | 64.7% | 68.3% | 71.1% |
| Operating margin | -6.7% | -40.0% | -61.7% | -72.1% | -48.0% | -3.9% | -9.5% | 0.6% |
| Net margin | 6.8% | -32.1% | -61.6% | -74.9% | -43.1% | -2.3% | -9.6% | 0.9% |
| Free cash flow margin | 18.1% | -12.5% | -10.3% | -35.2% | -19.2% | -4.7% | -6.4% | -4.0% |
| Return on equity | 1.7% | -7.5% | -14.4% | -16.5% | -8.4% | -0.5% | - | - |
| Return on assets | 1.3% | -6.1% | -12.9% | -15.0% | -7.7% | -0.4% | -4.7% | - |
| Current ratio | 4.58 | 5.62 | 4.60 | 6.78 | 10.81 | 18.47 | 6.67 | - |
| Debt to equity | 0.14 | 0.08 | 0.02 | 0.00 | - | - | - | - |
Source: XBRL data Agora Inc. files with the SEC, latest filing dated Apr 15, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
API peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| API | $141.06M | +5.9% | $9.53M | 6.8% | $354.4M |
| MSFT | $346.44B | +17.9% | $142.63B | 41.2% | $3.98T |
| PLTR | $7.29B | +87.1% | $3.67B | 50.3% | $373.45B |
| ORCL | $71.78B | +21.6% | $18.92B | 26.4% | $348.21B |
| SAP | €36.80B | +7.7% | €7.16B | 19.5% | $299.18B |
| CRWD | $5.40B | +24.3% | $58.46M | 1.1% | $222.40B |
| SHOP | $14.17B | +32.5% | $2.13B | 15.0% | $184.94B |
| CRM | $43.94B | +11.2% | $9.66B | 22.0% | $183.04B |
| NOW | $15.43B | +21.8% | $1.45B | 9.4% | $106.25B |
API FAQ
9 questionsWhat is API revenue?
Agora Inc. (API) reported $141.06M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 5.9% from the year before.Is API profitable?
Yes. Agora Inc. earned $9.53M in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 6.8%.How much cash and debt does API have?
Agora Inc. reported $75.45M in cash and cash equivalents and $80.42M of debt on its most recent balance sheet in SEC filings.How fast is API revenue growing?
Agora Inc.'s revenue changed +5.9% in fiscal 2025, to $141.06M. Its compound annual growth rate was +1.1% over 5 years.What is API gross margin?
Agora Inc.'s gross profit was $93.66M on $141.06M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 66.4%.What is API free cash flow?
Agora Inc. generated $25.53M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of $27.23M less capital expenditures.What is API earnings per share?
Diluted earnings per share were $0.02 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did API last report financial results?
The latest statements here come from Agora Inc.'s 20-F filed on Apr 15, 2026, covering the period ended Dec 31, 2025.Where does this API financial data come from?
Quantisnow builds these statements from the structured XBRL data Agora Inc. files with the SEC. It is provided for information only and is not investment advice.