Agora, Inc.

Good day and thank you for standing by. Welcome to Agora Inc. second quarter 2022 financial results 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 1 on your telephone. Please be advised that today's conference is being recorded. I'd now like to hand the conference over to Ms. Fiona Chen, Head of Investor Relations. Thank you. Please go ahead, ma'am.

Thank you, operator. Good evening, everybody. Good morning for the people in Indonesia, and thank you for joining us for AGRA's second quarter 2022 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 Chow, our founder, chairman, and CEO, Jin Guo 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 the performance of our business, which we discuss in detail in our filings with the 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 might make on today's call. With that, let me turn it over to Tony. Tony?

Yes, thanks Fiona, and welcome everyone to our earnings call. Our revenue for the quarter was $41 million, a decrease of 3% year-over-year, and an increase of 6% quarter-over-quarter, bringing us back on the growth track after regulatory change in the K-12 education sector in China. During this quarter, 33,000 new applications registered on our platform. At the end of June, our number of active customers exceeded 2,800 adding over 400 compared to one year ago. In the U.S. and international markets, demand for our real-time engagement platform remains strong. Our revenue for this segment recorded a 63% increase compared with the same period last year, with a dollar-based net expansion rate consistently above 130%. percent since 2021. Following our announcement of the promotion of several key executives in May, I'm confident that we are well positioned to enhance our go-to-market efficiency and expand our platform globally. In recent months, we have witnessed a strong response to our sub-second interactive live streaming product globally. We believe this product has the potential to disrupt the traditional CDN-based live streaming market, as it can deliver live streaming experiences at lower latency in a highly synchronized fashion with only a moderately higher cost. We already have several benchmark customers in the sports and gaming live streaming sector. Powered by this product, our customers can create a wide range of engaging and interactive experiences for their end users, such as chat among audience and in-game live betting. For example, NBC Group, the largest media company in the Middle East and North Africa, uses this product on their social gaming platform, Weezo, to offer game players high-quality interactive live streaming and it has become one of the biggest attractions of the video platform. With Agora-powered live streaming in place, NBC has already seen a 10% increase in new user growth. And South Asia's leading video live streaming platform, Vololive, is also powered by this product. We provide the platform's technology backbone powering live streaming and interactive features that enable content creators, entertainers, and influencers to broadcast interactive live streaming to their audience and monetize directly through consumer transactions from their fans. We believe this product will substantially enlarge our total addressable market as more and more live streaming platforms with legacy technology embrace our sub-second live streaming solutions. Next, on to our new products. In US and international markets, we beta released Agora Chat, which is a powerful tool for developers to add messaging to any application. Agora Chat provide comprehensive features and functions, such as rich media messages, message translation, user presence, and type indicator, chat history export, content moderation, and much more. Agora Chat has the broadest compatibility with operating systems and third-party development frameworks among similar messaging API products in the market. It is also very easy to use, especially for those who are already using our real-time video or voice product. Through a few lines of code, developers can seamlessly create an immersive and engaging experience for their end users to send messages, emojis, and multimedia files from within their real-time engagement sessions. I am also glad to say that Aurora Chat is a perfect demonstration of the business synergies from our integration of EaseMob over the past year. By combining EaseMob's experience in providing messaging APIs in Asia market. With Agora's industry-leading global infrastructure, we're able to offer a highly competitive product for customers in the US and international markets. Now let's move to our business update in China. Revenue from China in this quarter recorded a 1% quarter-over-quarter increase as a shortfall in K-12 academic children's sector was more than compensated for by the growth in other sectors. Our revenue in sectors other than KCHAO continues to grow healthily with an approximately 13% increase compared with the same period last year. Our leading market position in China is once again demonstrated by IDC's recent published report on the video cloud market in 2021. According to the IDC report, Agora maintained its number one position in RTC solutions in China, with a market share greater than the next seven companies combined. Agora also recorded the largest revenue growth among all players. In China, we formed a partnership with the China Audio Video Copyright Association, also known as CAVCA. the only association approved by the National Copyright Administration to undertake collective rights management for copyright and related rights in video and audio works in China. Through this partnership, we are now able to provide a one-stop solution for our customers to manage their use of music works in their live streaming sessions. And more importantly, in full compliance with the latest copyright laws, and regulations in China. Under a digital rights management system that covers more than 100,000 music works in high definition, each and every usage of these works in our customer's application is now traceable. Our customers can choose from paying per use, paying per usage, or flat fee with unlimited access. and corporate owners will then be duly compensated. We believe our partnership with CAVCA and this one-stop solution bring profound value to our customers and will help make our Meta KTV a go-to product for delivering immersive real-time karaoke experience in the metaverse. Before concluding my prepared remarks for this quarter, I would like to invite all of you to attend our RTE 2022 conferences. The North American conference will take place from October 10th to October 12th, and you are welcome to join either online or in person in San Francisco. The Asia Pacific conference will be held online from October 21st to October 24th. We expect to bring the brightest minds in the business and technology field to explore the future of voice video, Internet of Things, metaverse, and more. With that, let me turn things over to Jingbo, who will review our financial results.