Agora, Inc. (API) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 27, 2023 8:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and thank you for standing by. Welcome to the Agora Fourth Quarter 2022 Financial Results. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Fionna Chen. Please go ahead.

Fionna Chen

Thank you, operator. Good morning and good evening, everyone. Thank you for joining us today for Agora's Fourth Quarter 2022 and Full Fiscal Year Earnings Conference Call. Our earnings results press release, SEC filings and a replay of today's call can be found on our IR website at investor.agora.io.

Joining me today are Tony Zhao, our Founder, Chairman and CEO; Jingbo Wang, our CFO.

Reconciliations between our GAAP and non-GAAP results can be found in our earnings press release.

During this call, we will make forward-looking statements about our future financial performance and other future events trends. These statements are only predictions that are based on what we believe today, and actual results may differ materially. These forward-looking statements are subject to risks uncertainties, assumptions and other factors that could affect our financial results and the performance of our business, which we discuss in detail with our filings with SEC, including today's earnings press release and the risk factors and other information contained in the final prospectus relating to our initial public offering. Agora undertakes no obligation to update any forward-looking statements we may make on today's call.

With that, let me turn over to Tony. Tony?

Tony Zhao

Thanks, Fionna, and welcome, everyone, to our earnings call. Our revenue for the fourth quarter remained flat at $40 million compared with the same quarter last year. During this quarter, new applications were registered on our platform. And our total number of registered applications exceeded 548,000. At the end of 2022, our number of active customers was 3,066, adding close to 400 compared to 1 year ago.

On product side, recently, we launched a beta version of our speech-to-text product for real-time engagement. Traditional speech-to-text products do not work well in RTE use cases due to the challenge such as synchronization of and the device performance issue. Working with industry-leading partners specialized in speech-to-text technology, we developed a cloud-native transcription product that delivers reliable performance in noisy environment, with multiple individuals talking simultaneously and under poor network conditions. As a cloud-native product, no additional local processing is required and performance is consistent across a wide range of devices.