Agora

API

Software - Application · Technology

Price

$3.91

-0.09 (-2.25%)

Market Cap

$352.3M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−10.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 110.2M (2021) → 98.9M (2025)

Agora, Inc. provides Real-Time Engagement Platform-as-a-Service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. The company RTE-PaaS offers developers with software tools to embed real-time video, voice, and messaging functionalities into applications. Its products include video calling, voice calling, interactive live streaming, chat, signaling. Acceleration products; and extensions, which comprise interactive whiteboard, recording, analytics, and extension

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$55M/ year

↓ Declining (-31% vs prior year)

39.3% of revenue

2.6x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

32.5%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$76M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Agora is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

65.1%

Premium pricing power — 65.1% gross margin

Operating Margin

-3.4%

Losing money on operations — -3.4%

ROCE

-0.2%

Weak — -0.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+6.1%

Slow sales growth (6.1% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

287%

Turns 287% of profit into real cash

FCF Margin

-4.5%

Burning cash (-4.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.15

Conservative — low debt load (0.15)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

37.2x

Pricey — P/E 37.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+4.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (37.2 → 32.9)

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Dividends

Not applicable for this business.

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