Agora, Inc.
API Nasdaq Services-Prepackaged Software Financials FY2018โFY2025
Revenue
Total sales reported in the income statement.
$141M
5.9%
vs prior year
Operating margin
Operating income as a share of revenue.
โ6.7%
33.3ย pts
Net income
Profit after all expenses, interest and tax.
$9.5M
Free cash flow
Cash from operations minus capital spending.
$25.5M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ1.6%
5.5ย pts
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On $0.08 EPS (TTM)
What Agora, Inc. does
No business description yet.
- Legal name
- Agora, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 15, 2026
- Accession ยท CIK
- 0001193125-26-155920
0001802883
Revenue and margins
Agora, Inc. had $141M of revenue in fiscal 2025, up 5.9% on the year before.
FY18
Revenue $43.7M
FY19
Revenue $64.4M
FY20
Revenue $134M
FY21
Revenue $168M
FY22
Revenue $161M
FY23
Revenue $142M
FY24
Revenue $133M
FY25
Revenue $141M
FY18
Gross 71.1%
Operating 0.6%
Net 0.9%
FCF โ4.0%
FY19
Gross 68.3%
Operating โ9.5%
Net โ9.6%
FCF โ6.4%
FY20
Gross 64.7%
Operating โ3.9%
Net โ2.3%
FCF โ4.7%
FY21
Gross 61.9%
Operating โ48.0%
Net โ43.1%
FCF โ19.2%
FY22
Gross 61.9%
Operating โ72.1%
Net โ74.9%
FCF โ35.2%
FY23
Gross 63.2%
Operating โ61.7%
Net โ61.6%
FCF โ10.3%
FY24
Gross 64.1%
Operating โ40.0%
Net โ32.1%
FCF โ12.5%
FY25
Gross 66.4%
Operating โ6.7%
Net 6.8%
FCF 18.1%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY18
Net income $0.4M
FY19
Net income โ$6.2M
FY20
Net income โ$3.1M
FY21
Net income โ$72.4M
FY22
Net income โ$120M
FY23
Net income โ$87.2M
FY24
Net income โ$42.7M
FY25
Net income $9.5M
FY18
Diluted EPS โ$1.56
FY19
Diluted EPS โ$2.32
FY20
Diluted EPS โ$3.04
FY21
Diluted EPS โ$0.64
FY22
Diluted EPS โ$1.08
FY23
Diluted EPS โ$0.88
FY24
Diluted EPS โ$0.44
FY25
Diluted EPS $0.08
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY18
Return on capital โ
Return on equity โ
Return on assets โ
FY19
Return on capital โ
Return on equity โ
Return on assets โ4.7%
FY20
Return on capital โ
Return on equity โ1.2%
Return on assets โ0.8%
FY21
Return on capital โ
Return on equity โ9.5%
Return on assets โ8.8%
FY22
Return on capital โ13.7%
Return on equity โ15.1%
Return on assets โ13.8%
FY23
Return on capital โ12.1%
Return on equity โ13.1%
Return on assets โ11.8%
FY24
Return on capital โ7.1%
Return on equity โ7.3%
Return on assets โ6.2%
FY25
Return on capital โ1.6%
Return on equity 1.7%
Return on assets 1.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $25.5M in fiscal 2025, 18.1% of revenue. Cash from operations minus capital spending.
FY18
Free cash flow โ$1.7M
FY19
Free cash flow โ$4.1M
FY20
Free cash flow โ$6.3M
FY21
Free cash flow โ$32.2M
FY22
Free cash flow โ$56.5M
FY23
Free cash flow โ$14.5M
FY24
Free cash flow โ$16.7M
FY25
Free cash flow $25.5M
FY18
Cash from operations $0.5M
Capital spending $2.3M
FY19
Cash from operations $0.7M
Capital spending $4.8M
FY20
Cash from operations $6.6M
Capital spending $12.9M
FY21
Cash from operations โ$20.0M
Capital spending $12.2M
FY22
Cash from operations โ$52.4M
Capital spending $4.1M
FY23
Cash from operations โ$13.6M
Capital spending $0.9M
FY24
Cash from operations โ$14.1M
Capital spending $2.5M
FY25
Cash from operations $27.2M
Capital spending $1.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
Agora, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 6.0%.
FY18
Dividends โ
Buybacks $0.8M
FY19
Dividends โ
Buybacks $0.0M
FY20
Dividends โ
Buybacks $0.0M
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.07B
FY21
Diluted shares 0.11B
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.10B
FY24
Diluted shares 0.09B
FY25
Diluted shares 0.10B
Balance sheet
Cash, debt and the ratios that show how comfortably Agora, Inc. can carry it.
FY18
Cash $109M
Debt โ
FY19
Cash $106M
Debt โ
FY20
Cash $635M
Debt โ
FY21
Cash $755M
Debt โ
FY22
Cash $59.8M
Debt $0.0M
FY23
Cash $44.9M
Debt $11.0M
FY24
Cash $29.9M
Debt $46.5M
FY25
Cash $80.0M
Debt $80.4M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $755M | $59.8M | $44.9M | $29.9M | $80.0M |
| Debt incl. finance leases | โ | $0.0M | $11.0M | $46.5M | $80.4M |
| Debt / equity | โ | 0.0x | 0.0x | 0.1x | 0.1x |
| Interest coverage | โ | โ | โ4,366.2x | โ210.7x | โ261.4x |
| Current ratio | 10.8x | 6.8x | 4.6x | 5.6x | 4.6x |
| Quick ratio | 10.8x | 6.8x | 4.6x | 5.6x | 4.6x |
| Total assets | $945M | $801M | $675M | $700M | $721M |
| Total liabilities | $78.7M | $72.5M | $69.8M | $127M | $158M |
| Shareholders' equity | $866M | $728M | $605M | $573M | $563M |
| Net debt (โ = net cash) | โ | โ$59.8M | โ$33.9M | $16.6M | $0.4M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 5 | 4 / 8 | 1 / 8 | 2 / 8 | 5 / 9 | 5 / 9 | 6 / 9 |
| Accruals ratio | โ | โ5.2% | โ2.3% | โ6.4% | โ7.8% | โ10.0% | โ4.2% | โ2.5% |
| Altman Z'' | โ | โ5.44 | 24.10 | 15.19 | 11.52 | 8.07 | 4.48 | 3.34 |
8 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $43.7M | $64.4M | $134M | $168M | $161M | $142M | $133M | $141M |
| Net interest income | โ | โ | โ | $8.4M | $9.6M | $18.8M | $16.7M | โ |
| Gross profit | $31.0M | $44.0M | $86.4M | $104M | $99.4M | $89.5M | $85.4M | $93.7M |
| Research and development | $14.4M | $23.6M | $49.5M | $111M | $115M | $77.7M | $80.3M | $55.5M |
| Operating income | $0.3M | โ$6.1M | โ$5.2M | โ$80.7M | โ$116M | โ$87.3M | โ$53.3M | โ$9.4M |
| Interest expense | โ | โ | โ | โ | โ | $0.0M | $0.3M | $0.0M |
| Pretax income | $0.5M | โ$5.4M | โ$2.6M | โ$71.8M | โ$120M | โ$86.8M | โ$39.0M | $9.9M |
| Income tax | $0.1M | $0.8M | $0.6M | $0.8M | $0.7M | $0.4M | $0.3M | $0.3M |
| Net income | $0.4M | โ$6.2M | โ$3.1M | โ$72.4M | โ$120M | โ$87.2M | โ$42.7M | $9.5M |
| Net income to common | โ$42.8M | โ$66.9M | โ$203M | โ$72.4M | โ$120M | โ$87.2M | โ$42.7M | $9.5M |
| Diluted EPS | โ$1.56 | โ$2.32 | โ$3.04 | โ$0.64 | โ$1.08 | โ$0.88 | โ$0.44 | $0.08 |
| Diluted shares | 0.03B | 0.03B | 0.07B | 0.11B | 0.11B | 0.10B | 0.09B | 0.10B |
| Cash flow | ||||||||
| Cash from operations | $0.5M | $0.7M | $6.6M | โ$20.0M | โ$52.4M | โ$13.6M | โ$14.1M | $27.2M |
| Capital expenditure | $2.3M | $4.8M | $12.9M | $12.2M | $4.1M | $0.9M | $2.5M | $1.7M |
| Free cash flow | โ$1.7M | โ$4.1M | โ$6.3M | โ$32.2M | โ$56.5M | โ$14.5M | โ$16.7M | $25.5M |
| Depreciation and amortization | $0.9M | $1.9M | $4.5M | $8.3M | $9.5M | $7.1M | $3.5M | $2.0M |
| Stock-based compensation | $2.9M | $3.4M | $12.0M | $31.5M | $32.4M | $24.6M | $22.7M | $5.6M |
| Acquisitions | โ | $0.0M | โ$0.6M | $50.6M | โ | $3.7M | โ | โ |
| Share buybacks | $0.8M | $0.0M | $0.0M | โ | โ | โ | โ | โ |
| Dividends and buybacks | $0.8M | $0.0M | $0.0M | โ | โ | โ | โ | โ |
| Balance sheet | ||||||||
| Cash and short-term investments | $109M | $106M | $635M | $755M | $59.8M | $44.9M | $29.9M | $80.0M |
| Total debt | โ | โ | โ | โ | $0.0M | $11.0M | $46.5M | $80.4M |
| Current assets | โ | $123M | $671M | $798M | $485M | $261M | $328M | $260M |
| Current liabilities | โ | $18.5M | $36.3M | $73.8M | $71.7M | $56.9M | $58.3M | $56.8M |
| Property and equipment, net | โ | $6.3M | $16.8M | $19.2M | $12.9M | $22.7M | $49.2M | $88.2M |
| Goodwill | โ | $0.0M | $3.1M | $56.1M | $31.9M | $0.0M | โ | โ |
| Intangible assets | โ | $0.0M | $0.2M | $6.7M | $2.7M | $1.3M | $0.6M | $0.1M |
| Total assets | โ | $131M | $693M | $945M | $801M | $675M | $700M | $721M |
| Total liabilities | โ | $18.5M | $36.4M | $78.7M | $72.5M | $69.8M | $127M | $158M |
| Shareholders' equity | โ$73.2M | โ$127M | $656M | $866M | $728M | $605M | $573M | $563M |
| Margins | ||||||||
| Gross margin | 71.1% | 68.3% | 64.7% | 61.9% | 61.9% | 63.2% | 64.1% | 66.4% |
| Operating margin | 0.6% | โ9.5% | โ3.9% | โ48.0% | โ72.1% | โ61.7% | โ40.0% | โ6.7% |
| EBITDA margin | 2.7% | โ6.6% | โ0.5% | โ43.1% | โ66.1% | โ56.7% | โ37.4% | โ5.2% |
| Net margin | 0.9% | โ9.6% | โ2.3% | โ43.1% | โ74.9% | โ61.6% | โ32.1% | 6.8% |
| FCF margin | โ4.0% | โ6.4% | โ4.7% | โ19.2% | โ35.2% | โ10.3% | โ12.5% | 18.1% |
| Net interest share of revenue | โ | โ | โ | 5.0% | 6.0% | 13.3% | 12.5% | โ |
| Returns | ||||||||
| Return on capital | โ | โ | โ | โ | โ13.7% | โ12.1% | โ7.1% | โ1.6% |
| Return on capital employed | โ | โ5.4% | โ0.8% | โ9.3% | โ15.9% | โ14.1% | โ8.3% | โ1.4% |
| Return on equity | โ | โ | โ1.2% | โ9.5% | โ15.1% | โ13.1% | โ7.3% | 1.7% |
| Return on assets | โ | โ4.7% | โ0.8% | โ8.8% | โ13.8% | โ11.8% | โ6.2% | 1.3% |
| Return on tangible equity | โ | โ | โ31.1% | โ9.0% | โ17.4% | โ14.5% | โ7.5% | 1.7% |
| Growth | ||||||||
| Revenue growth | โ | 47.6% | 107.3% | 25.8% | โ4.4% | โ11.9% | โ5.9% | 5.9% |
| Net income growth | โ | โ1,742.4% | โ | โ | โ | โ | โ | โ |
| Share count change | โ | 6.0% | 132.3% | 64.0% | 1.3% | โ10.8% | โ6.3% | 6.0% |
| Financial health | ||||||||
| Debt / equity | โ | โ | โ | โ | 0.0x | 0.0x | 0.1x | 0.1x |
| Interest coverage | โ | โ | โ | โ | โ | โ4,366.2x | โ210.7x | โ261.4x |
| Current ratio | โ | 6.7x | 18.5x | 10.8x | 6.8x | 4.6x | 5.6x | 4.6x |
| Quick ratio | โ | 6.7x | 18.5x | 10.8x | 6.8x | 4.6x | 5.6x | 4.6x |
| Capital allocation | ||||||||
| Capex / revenue | 5.2% | 7.5% | 9.6% | 7.3% | 2.6% | 0.7% | 1.9% | 1.2% |
| Stock comp / revenue | 6.5% | 5.3% | 9.0% | 18.7% | 20.1% | 17.4% | 17.1% | 3.9% |
| Quality scores | ||||||||
| Piotroski F-score | โ | โ | 4.0 | 1.0 | 2.0 | 5.0 | 5.0 | 6.0 |
| Altman Z'' | โ | โ5.4 | 24.1 | 15.2 | 11.5 | 8.1 | 4.5 | 3.3 |
| Accruals ratio | โ | โ5.2% | โ2.3% | โ6.4% | โ7.8% | โ10.0% | โ4.2% | โ2.5% |
Source: SEC EDGAR XBRL filings (CIK 0001802883). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Per-share figures are per US-listed share (1 ADS = 4 ordinary shares). For information only โ not investment advice. Check the original filings before relying on any figure.