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NASDAQ NMS - GLOBAL MARKET · Technology · CIK 0001802883
$4.45
+1.37% · delayed ~15 min
Last price from Oct 23, 2026
$410.5M market value
From Agora, Inc.'s FY2025 20-F, filed Apr 15, 2026 · read the filing
Agora makes and sells software and computing services. It took in $141.1M last year, which makes it a smaller company. Of every dollar it sells, about 7 cents is left as profit.
The financial picture is led by accounting, with profitability and growth worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From Agora, Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
-$53.3M → -$9.4M
Profit
-$42.7M → $9.5M
Operating margin
-40.0% → -6.7%
Profit margin
-32.1% → 6.8%
Measured against FY2024, from the 20-F filed Apr 15, 2026
Improved: $43.9M narrower
-$53.3M to -$9.4MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$42.7M to $9.5MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote delayed ~15 min), and what was published around it
API rose 1.37% on the latest quote. The average Technology company tracked here moved +0.41%, and the S&P 500 −0.47%. That is 1.0 points above its sector and 1.8 points above the market.
No filing from API and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 3% a year for the next 10 years. Its free cash flow was negative earlier in this period, so there is no past growth rate to set against that.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 7 cents of every dollar of sales as profit, earning $9.5M last year.
Slowly. Sales grew 5.9% last year.
No. Its borrowings would take under a year of cash flow to clear. For every $1 it owes, it owns $4.56 in assets. Its operating profit does not cover its interest bill — -261.39x against the interest it owes.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $9.5M and generated $27.2M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202520-F · Apr 15, 2026Filing for FY2025 | FY202420-F · Apr 15, 2026Filing for FY2024 | FY202320-F · Apr 24, 2024Filing for FY2023 | FY202220-F · Apr 24, 2024Filing for FY2022 | FY202120-F · Apr 28, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $141.1M | $133.3M | $141.5M | $160.7M | $168.0M | +5.9% |
| Cost of revenue | $47.4M | $47.8M | $52.1M | $61.2M | $64.0M | −0.9% |
| Gross profit | $93.7M | $85.4M | $89.5M | $99.4M | $104.0M | +9.6% |
| Gross marginGross profit ÷ revenueWhat is this? | 66.4% | 64.1% | 63.2% | 61.9% | 61.9% | +2.3 pts |
| Selling, general and administrative | $22.7M | $32.8M | $35.0M | $38.7M | $30.3M | −30.8% |
| Operating income | -$9.4M | -$53.3M | -$87.3M | -$115.8M | -$80.7M | +82.3% |
| Operating marginOperating income ÷ revenueWhat is this? | -6.7% | -40.0% | -61.7% | -72.1% | -48.0% | +33.3 pts |
| Interest expense | $36.0K | $253.0K | $20.0K | — | — | −85.8% |
| Income before tax | $9.9M | -$39.0M | -$86.8M | -$120.0M | -$71.8M | n/m |
| Net income | $9.5M | -$42.7M | -$87.2M | -$120.4M | -$72.4M | n/m |
| Net marginNet income ÷ revenueWhat is this? | 6.8% | -32.1% | -61.6% | -74.9% | -43.1% | +38.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $0.0273 | $-0.1144 | $-0.2365 | $-0.2822 | $-0.1609 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Bought on the open market — 9,971 shares at $4.39 ($43.7K)
Holds 2,176,439 shares after this filing.
Bought on the open market
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingWrite down why you are following Agora, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
Primary sources and further research
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from API's 20-F for fiscal year 2025 (period ending 2025-12-31, filed Apr 15, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 7/9 | 20-F, filed Apr 15, 2026 |
| FY2024 | 2.0 | 5/9 | 20-F, filed Apr 15, 2025 |
| FY2023 | 4.0 | 5/9 | 20-F, filed Apr 24, 2024 |
| FY2022 | 4.7 | 2/8 | 20-F, filed Apr 26, 2023 |
| FY2021 | 7.3 | 1/8 | 20-F, filed Apr 28, 2022 |
| FY2020 | 7.3 | 4/8 | 20-F, filed Apr 28, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
7 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
3.34
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.54
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +33.3 pts
-40.0% to -6.7%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +38.8 pts
-32.1% to 6.8%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: turned positive
-$16.7M to $25.5MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$0.11 to $0.03Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +73.1%
$46.5M to $80.4MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +178.6%
$27.1M to $75.4MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -6.4%
373.3M to 349.3MSignificant
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: -33.2%
$2.5M to $1.7MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +5.9%
$133.3M to $141.1MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +9.6%
$85.4M to $93.7MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +2.3 pts
64.1% to 66.4%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 1% and 5%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 6 analysts covering this company, as of . Their views, not this site's.
Of 6 analysts publishing on this company, 2 say strong buy, 2 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 0.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 43.1x — a high multiple relative to the current trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Holds 2,186,233 shares after this filing.
Bought on the open market — 9,513 shares at $4.46 ($42.4K)
Holds 2,195,746 shares after this filing.
Bought on the open market — 8,989 shares at $4.40 ($39.5K)
Holds 2,204,735 shares after this filing.
Bought on the open market — 8,545 shares at $4.45 ($38.0K)
Holds 2,157,668 shares after this filing.
Bought on the open market — 8,800 shares at $4.43 ($38.9K)
Holds 2,166,468 shares after this filing.
Bought on the open market — 8,937 shares at $4.11 ($36.7K)
Holds 2,133,928 shares after this filing.
Bought on the open market — 5,438 shares at $4.20 ($22.9K)
Holds 2,139,366 shares after this filing.
Bought on the open market — 9,757 shares at $4.30 ($41.9K)
Holds 2,149,123 shares after this filing.
Bought on the open market — 14,559 shares at $3.98 ($58.0K)
Holds 1,972,165 shares after this filing.
Bought on the open market — 9,133 shares at $4.06 ($37.1K)
Holds 1,981,298 shares after this filing.
Bought on the open market — 6,000 shares at $4.03 ($24.2K)
Holds 1,987,298 shares after this filing.
Bought on the open market — 7,447 shares at $4.20 ($31.3K)
Holds 1,994,745 shares after this filing.
Bought on the open market — 9,924 shares at $4.33 ($43.0K)
Holds 2,004,669 shares after this filing.
Bought on the open market — 9,834 shares at $4.33 ($42.6K)
Holds 2,014,503 shares after this filing.
Bought on the open market — 9,217 shares at $4.32 ($39.8K)
Holds 2,023,720 shares after this filing.
Bought on the open market — 9,525 shares at $4.22 ($40.2K)
Holds 2,033,245 shares after this filing.
Bought on the open market — 9,804 shares at $4.14 ($40.6K)
Holds 2,043,049 shares after this filing.
Bought on the open market — 9,364 shares at $4.15 ($38.8K)
Holds 2,052,413 shares after this filing.
Bought on the open market — 9,633 shares at $4.18 ($40.3K)
Holds 2,062,046 shares after this filing.
Bought on the open market — 9,300 shares at $4.13 ($38.4K)
Holds 2,071,346 shares after this filing.
Bought on the open market — 9,065 shares at $4.11 ($37.3K)
Holds 2,080,411 shares after this filing.
Bought on the open market — 9,713 shares at $4.18 ($40.6K)
Holds 2,090,124 shares after this filing.
Bought on the open market — 9,773 shares at $4.19 ($41.0K)
Holds 2,099,897 shares after this filing.
Bought on the open market — 9,837 shares at $4.13 ($40.6K)
Holds 2,109,734 shares after this filing.
Bought on the open market — 9,956 shares at $4.06 ($40.4K)
Holds 2,119,690 shares after this filing.
Bought on the open market — 5,301 shares at $4.08 ($21.6K)
Holds 2,124,991 shares after this filing.
Exercised stock options — 1,592 shares
Holds 89,345 shares after this filing.
Exercised stock options — 1,591 shares
Holds 87,753 shares after this filing.
Exercised stock options — 1,591 shares
Holds 86,162 shares after this filing.
Exercised stock options — 1,591 shares
Holds 84,571 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Report filed on Form 6-K
Annual report for FY2025
Revenue +5.9% · Operating margin +33.3 pts · Operating income $43.9M narrower — against FY2024
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingAnnual report for FY2024
Revenue -5.9% · Operating margin +21.7 pts · Profit $44.5M narrower — against FY2023
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingAnnual report for FY2023
Revenue -11.9% · Operating margin +10.3 pts · Profit margin +13.3 pts — against FY2022
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filing