Agora, Inc. reported total revenues of $34.5 million for the fourth quarter of 2024, a 4.4% decrease from the same period last year. However, the company achieved GAAP profitability, with a net income of $0.2 million, a significant improvement from a net loss of $2.6 million in Q4 2023. The Agora segment's revenues increased by 13.7% year-over-year to $17.4 million, driven by growth in live shopping, while the Shengwang segment's revenues decreased by 17.6% to RMB122.2 million ($17.1 million).
For the full fiscal year 2024, total revenues were $133.3 million, a 5.9% decrease from 2023, with a net loss of $42.7 million, an improvement from $87.2 million in 2023. Gross margin for Q4 2024 was 66.6%, up 3.7% year-over-year, primarily due to the end-of-sale of certain low-margin products. Operating expenses decreased by 8.8% in Q4 2024 to $28.5 million, contributing to the return to profitability.
The company announced the launch of its Conversational AI Engine, designed to enable developers to build interactive voice experiences with any large language model, featuring natural conversation dynamics and ultra-low latency. Agora's board of directors also authorized an extension of the existing share repurchase program through February 28, 2026. For the first quarter of 2025, Agora expects total revenues to be between $31 million and $33 million.
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