Agora released its financial report for the third quarter of 2024.
According to Zhitong Finance, Agora (API.US) announced its financial report for the third quarter of 2024. Q3 revenue reached 31.6 million USD, a year-on-year decrease of 9.8%, with an expected value of 40 million USD; the loss per ADS was 0.26 USD, compared to a loss of 0.23 USD in the same period last year. The net loss was 24.18 million USD, compared to a net loss of 22.51 million USD in the same period last year.
Focused on the china market, Agora achieved revenue of 0.1129 billion RMB, a year-on-year decrease of 20%; focusing on non-china markets, Agora achieved revenue of 15.7 million USD, a year-on-year increase of 2.6%.
In terms of customer scale, as of September 30, 2024, Agora had 3,641 active customers, a year-on-year decrease of 9.7%, while Agora had 1,762 active customers, a year-on-year increase of 5.9%.
Based on currently available information, the company expects total revenue in the fourth quarter of 2024 to be between 34 million USD and 36 million USD, excluding revenue from certain low-margin terminal products. The company also expects significant improvement in net income/(loss) for the fourth quarter.
After the performance announcement, as of the time of writing, Agora's stock price dropped 7.56% to 4.4 USD in after-hours trading.