Agora, Inc.

Good day and thank you for standing by. Welcome to Agora Inc. Forkwater 2021 Financial Results Conference Call. At this time, all participants are in the 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 call over to your first speaker today, Ms. Fiona Chen. Thank you. Please go ahead.

Thank you, operator. Good morning, everyone, and thank you for joining us for Agra's fourth quarter and the full year 2021 earnings conference call. Our earnings results press release, SEC filings, and a replay of today's call can be found on our IR website at investor.agra.io. Joining me today are Tony Zhao, founder, Chairman and the CEO, and Jingbo Wang, our CFO. Reconciliations between our GAAP and the non-GAAP 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. 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 performance of our business, which we discuss 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 remains no obligation to update any forward-looking statements we may have on today's call. With that, let me turn it over to Tony. Hi, Tony.

Yes. Thank you, Fiona, and welcome everyone to our earnings call. 2021 was a year of great opportunities and challenges for Agora. I'm extremely proud to see how hard our team worked together across the globe and across every vertical to drive Agora forward. It is exciting to see how much we have accomplished and how much innovation we have fostered with our real-time engagement platform. I am proud to say that as of the end of 2021, the Agora SDKs were installed globally in more applications than any other real-time video or voice SDK by a very large margin, according to data.ai, previously known as FME. Our technology and product innovation of what distinguished us as a pioneer and a leader in real-time engagement. Today, we are powering the new norm of engagement and the emotional human connection, both virtually and in real life. Now, let's shift to our earnings. We delivered another quarter of strong results. Our revenue for the first quarter was $40.4 million, up 21% year-over-year. At the end of December, we had more than 400,000 adjusted apps on our platform, and our number of active customers reached nearly 2,700, adding nearly 600 year-over-year. For the full year of 2021, we poured more than 600 billion minutes of real-time engagement in total. And our revenue was $168 million, which represents an increase of 26% from 2020. If we look at our key markets, revenue from the United States and APAC, including China, recorded the strongest growth in this quarter. We are now powering many leading metaverse platforms in South Korea, many leading online education companies in South Asia, and many highly innovative interactive e-commerce, audio live costs, and virtual events platforms in the US. In China, Our market leadership was clearly demonstrated by a recent IDC report, which ranked Agora as the number one real-time video and voice API provider, with a market share greater than the next seven providers combined. In this quarter, despite the impact of the new regulation on K-12 after-school tutoring sector, revenues from other sectors remained healthy, As real-time engagement use cases continue to expand across regions, our revenue source has also become more diversified. In this quarter, revenue contribution from usage outside of China was 35%, the highest in our history. Moving on to new use cases. One of my favorite use cases in 2021 is with Blue Frog Robotics. This amazing company, powered by Agora technology, is changing the way hospitalized students interact with teachers, classmates, friends, and families through this emotional robot named Buddy. In France, Buddy the robot was deployed to nearly 2,000 school children And the First Lady of France has been a supporter in extending this program across the country. In 2022, you will be seeing much more from BlueFrog's study on how Agora is powering the world for the better. In the Netherlands, Conference Compass, a hybrid event engagement platform focused on global scientific and medical conferences, leveraged Agora's interactive live streaming technology to double their revenue. And a bit closer to home, across the country from our Santa Clara, California, high quarter, the University of Maryland medical system built a fully integrated app into all their backend systems to obtain patient information. They named it Teleport is used across 14 hospitals and 200 departments. Agora is embedded in this platform for all video and audio engagement between doctors and patients, as well as between providers and the staff. In the longer term, I believe Metaverse will become one of the most important use cases for Agora. We have made a significant investment in this field and recently announced several solutions tailor-built for Metaverse, for example, MetaKTV and MetaTab. Our MetaKTV solution is an expansion of our one-stop online quality solution that I mentioned in previous earnings call. On top of our technology, that enables users to sing together at ultra-low latency, and our usage-based copyright solution for hundreds of thousands of soundtracks. MetalKTV reproduces an old-school karaoke room in the virtual world with avatar singers and audiences, stages, party lights, and screens. Always beautiful 3D rendering In this virtual karaoke room, users are able to sing and dance on the stage, or wave and cheer in front of it, and hear and see each other in real time. Our MetaKTV solution allows users to create and customize avatars with hundreds of options, meet friends in a virtual bar or cafe, and engage with each other through voice chat in the shared virtual space. Both MetaKTV and MetaChat are supported by our latest 3D spatial audio technology, which allows users to perceive sound as coming from different locations and distance around the user in the virtual space. Technically, this is a very challenging task because all the sounds generated by users and the environment need to be updated in real time as users move inside the virtual space. Despite the technical challenge, I believe 3D spatial audio is an important technology that makes the virtual world feel real. With spatial audio, users will feel more present and engaged, whether they are in a live-cast session or during a gameplay. These R&D investments have enabled fast go-to-market for our customers. We are seeing many innovative Metaverse use cases from all over the world leveraging our RTE technology. For example, we helped Oasis a popular metaverse platform in Brazil, to enable house parties at their users' virtual home. Powered by our MetaKey TV solution, a company called XR Space built an online karaoke platform called PartyOn, and I welcome you to experience it for yourself. It's available on both smartphones and AR devices. Now, moving on to security, compliance, and privacy protection. As always, they are critical to our success. Recently, we were awarded the ISO 27701 certificate on our information security management system. We also partnered with B-Shop Fox to improve our ability to defend real-world sophisticated attacks. Looking forward, we will continue to work with leading experts to ensure that our security practice remains best in class. Lastly, I would like to take the opportunity to thank our customers and our developer community for their innovation and passion to build RTE all the way with us. I also want to say thank you to all the Agorans for their hard work and dedication to our customers' success. I feel incredibly confident to embrace the promising future of real-time engagement. Let's create and enjoy it together. Now let me turn things over to Jinbo, who will review our financial results.