Agora, Inc. key statistics and ratios

In fiscal 2025, Agora, Inc. had return on equity of 1.7% and a net margin of 6.8%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Agora, Inc.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net margin	0.9%	−9.6%	−2.3%	−43.1%	−74.9%	−61.6%	−32.1%	6.8%
Return on equity	—	—	−1.2%	−9.5%	−15.1%	−13.1%	−7.3%	1.7%
Return on assets	—	−4.7%	−0.8%	−8.8%	−13.8%	−11.8%	−6.2%	1.3%
Effective tax rate	21.8%	—	—	—	—	—	—	3.3%
R&D as % of revenue	33.0%	36.7%	37.1%	65.9%	71.3%	54.9%	60.3%	39.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · December 31, 2025

What it owns · $721m

Short-term assets $260mLonger-term assets $461m

What it owes, and who funded it · $721m

Short-term liabilities $57mLonger-term liabilities $101mShareholders' equity $563m

Short-term assets cover short-term liabilities $260m of assets due within a year against $57m of liabilities due within a year.
Short-term assets cover long-term liabilities $260m short-term assets against $101m of longer-dated liabilities.
More cash than debt $75m of cash against $80m of debt.
Debt below 40% of shareholders' equity Debt is 14% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $27m of operating cash flow against $80m of debt.
Operating profit covers interest at least five times over Operating income of −$9m against $36,000 of interest.

From Agora, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Agora, Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Agora, Inc.