Agora, Inc.

Good day and thank you for standing by. Welcome to Agora Incorporated First Quarter 2021 Financial Results. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to our first speaker today, Ms. Fiona Chen. Thank you. Please go ahead.

Thank you, operator. Good evening and good morning, everyone. My name is Fiona Chen. I'm the investor relations director at Agora. Thank you for joining Agora's first quarter 2021 earnings conference call. Joining me today are Tony Zhao, founder, chairman, and the CEO, and Jingbo Wang, CFO. Our earnings result press release and a slide deck can be found on our IR website at investor.agora.io. Reconciliations between our gap and non-gap results can be found in our earnings press release. During this call, we will make forward-looking statements about our future financial performance and other future events and trends, including guidance. These statements are only predictions that are based on what we believe today, and actual results may differ materially. These forward-looking statements are subject to risks, uncertainties, assumptions, and other factors that could affect our financial results and the performance of our business. We will discuss them in detail in our filings with SEC, including today's earnings press release. and the risk factors and other information contained in the final prospectus relating to our initial public offering. Agora assumes no obligation to update any forward-looking statements we may make on today's call. With that, let me turn it over to Tony. Tony, please.

Thanks, Fina. And welcome, everyone, to our earnings call. I would like to start by saying that our hearts and thoughts are with the people in India and other parts of the world dealing with the current pandemic. Some of our own Agora team members and their families were affected. But together, we will help each other through this difficult period. The world has changed. Everyone is looking for a way to stay connected to their loved ones. Through our real-time engagement platform, Agora is committed to making this meaningful human connection possible. With that said, let's talk about Agora's performance for Q1 2021. We had another quarter of strong growth in Q1 2021. As developers and innovators around the world continue to create new immersive engagement experience with our real-time voice, video, chat, and streaming products, transforming all industries. In this quarter, the amount of real-time voice and video engagements powered by Agora exceeded 50 billion minutes per month for the first time. As we watch the bloom of innovative new use cases built with Agora over the past year, it is clear that the world is evolving from a consumer economy and knowledge economy towards a greater economy, where people make a living by sharing their skills, hobbies, and interests online. These creators include foreign language teachers, yoga instructors, tour guides, chefs, DJs, musicians, and many more. Increasingly, these creators are leveraging the internet and the power of Agora's real-time engagement network to enable those experiences and engage with their audience. For example, we recently partnered with a virtual tour platform in Europe to enable tour guides to serve customers from thousands of miles away. Here, tourists can join a live-streamed tour where local guides introduce the destination and share their sights and culture according to tourists' interests through real-time interactions. And all of those happens right in the tourist living room. Another example is an education platform based in San Francisco that enables artists to teach other creative skills such as how to DJ through VR. We believe these examples are just the beginning of the creator economy. We will continue to invest R&D efforts to reduce friction for more and more creators to engage with their audience. On the enterprise side, real-time engagement has evolved far beyond video conferencing. With so many aspects of business forced online to avoid total shutdown, the speed of digital transformation for enterprise has accelerated. For example, house closings and notarizations that used to require in-person meetings can now be performed by service by services like Atcash, which use Agora's RTE platform to provide verification and enablement services to legal and financial providers. With a powerful combination of AR, with a powerful combination of With a powerful combination of AR and real-time video, our partner, WePro, developed a solution that enables real-time export consolation for a wide range of enterprise customers, from medicine to manufacturing. Having seen the benefit of RTE-driven digital transformation, enterprise will continue to innovate and leverage RTE platform to increase productivity and customer engagement. Another example of RT innovation is XR, or Extended Reality. Just two weeks ago, we announced our partnership with HTC at Vivecom. When they announced their latest VR headset for enterprise, the HTC and Agora partnership will enable not just real-time interactions between VR devices, but also XR live streaming. which allows users to share in the same immersive experience on any device without the requirement of VR headset, making the VR experience more accessible, productive, and enjoyable for all participants. We feel strongly that XR coupled with real-time engagement will drive the next generation of workplace collaboration, in particular, I'm excited about the potential of XR live streaming because it enables seamless connection between the real world and the metaverse, or virtual world, and between different metaverse all through the power of Agora network. On the product side, we recently released Agora SDK 3.4, which is packed with many important technical enhancements. especially on video fluency. By video fluency, we mean a stable frame rate, low jitter, and solid audio-video sync that must be in place for the session to be as natural and distraction-free as live in-person conversation. In the past, most people believe one can either have good fluency with multiple second latency or sub-second latency with poor fluency, but not good fluency and sub-second latency at the same time. This is because sub-second latency means the playback buffer is extremely small, making the playback more prone to jitter. Through our end-to-end engineering improvements and adaptive transmission strategies, I'm extremely proud to say that we are now able to achieve sub-second latency while maintaining the same fluency compared to traditional long latency content delivery technology such as CDN. This is an important milestone because it removes needs for our customer to make trade-offs between interactivity and video quality. Recently, This technology enables a major education customer to deliver live lectures with excellent video quality to thousands of students in one classroom while keeping the ability to interact with each other at any time. Here, I invite developers around the world to try our latest SDK to see for yourself. In addition to the core voice and video APIs, We have added chat and whiteboard APIs to our platform through the acquisition of Izmo and Netlist. We have now completed post-acquisition integration for the China market, and the integration effort for US and other markets are well underway. I'm looking forward to supercharging Agora's global developer community with our combined offering. To first, More innovation on the Agora platform. We launched the Agora Startup Program this year to empower global startups with exclusive backend support and benefits like free minutes and direct access to VC and accelerators. The program has gained tremendous traction in the first quarter with 96 accelerators, incubators, and investment partners globally. I would like to invite all founders with big ideas to join the program and let us help you pursue your dream. Lastly, I would like to take the opportunity to thank our customers and our developer community for their innovation and passion to help people stay connected. I also want to say thank you to all the agorians for their hard work and dedication to our customers' success. The first quarter was a great start to the year, and I'm very excited about all the opportunities in front of us as we continue to help build the future of real-time engagement. Now let me turn things over to Jingbo, who will reveal our financial results.