API Agora, Inc.
Price Chart
Executive Summary
Agora reported Q1 2026 revenue of $37.7M (+13.5% YoY) and net income of $1.1M, marking its sixth consecutive GAAP-profitable quarter. Guidance for Q2 2026 revenue of $39.0M-$40.0M (+13.7%-16.6% YoY) signals continued moderate growth, but gross margin contracted 460bps to 63.4% due to product mix shift toward sub-scale conversational AI products, and operating cash flow fell sharply to $5.7M from $17.6M a year ago.
Key Financial Metrics
Actionable Insight
Revenue growth is steady but decelerating from prior quarters, and gross margin erosion from conversational AI mix is a watch item. The Q2 guidance midpoint of $39.5M implies ~15% YoY growth, in line with Q1's pace. Monitor the Q2 earnings call for updates on conversational AI margin trajectory and cash flow normalization.
Key Facts
- Q1 2026 revenue $37.7M, +13.5% YoY from $33.3M
- Net income $1.1M vs $0.4M YoY; sixth consecutive GAAP-profitable quarter
- Gross margin 63.4%, down 460bps from 68.0% YoY due to conversational AI product mix
- Operating loss improved to -$1.6M from -$3.7M YoY
- Operating cash flow $5.7M vs $17.6M YoY (includes $4.6M vs $17.8M interest received)
- Active Customers 3,946, +3.8% YoY; Dollar-Based Net Retention Rate 99% vs 95% YoY
- Q2 2026 revenue guidance $39.0M-$40.0M, representing 13.7%-16.6% YoY growth
- Repurchased ~$13.1M in shares during Q1; $43.8M remaining under $200M buyback program
Financial Impact
Revenue growth of 13.5% YoY with GAAP profitability maintained, but gross margin compression and lower operating cash flow temper the positive narrative
Risk Factors
- Gross margin compression from conversational AI products may persist as they scale
- Operating cash flow decline of 68% YoY raises questions about cash generation quality
- Dollar-Based Net Retention Rate at 99% suggests limited expansion from existing customers
- China exposure (Shengwang) introduces geopolitical and regulatory risk
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3301560 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 1, 2026
4d ago
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6-K
| $4.75 $5.26 | ▲ +10.74% | ▲ +10.59% | $4.81 (+1.26%) |
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May 28, 2026
8d ago
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6-K
| — | awaiting T+1 | — | — |
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May 26, 2026
10d ago
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Press Release
| — | awaiting T+1 | — | — |
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May 12, 2026
24d ago
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Press Release
| $3.92 $3.92 | · 0.00% | ▲ +0.00% | $4.81 (+22.70%) |
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Apr 22, 2026
6w ago
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Press Release
| $3.73 $3.57 | ▼ −4.29% | ▼ −3.90% | $4.81 (+28.95%) |
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Apr 15, 2026
7w ago
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20-F
| $3.97 $3.94 | ▼ −0.76% | ▼ −1.01% | $4.81 (+21.16%) |
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Mar 2, 2026
13w ago
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Press Release
| $4.56 $4.31 | ▼ −5.48% | ▼ −6.24% | $4.81 (+5.48%) |
US Market Status
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