Agora, Inc. (NASDAQ:API) Q4 2023 Earnings Call Transcript

Tony Zhao: I do think Twilio’s exit is mainly because of the fierce of competition in this area because as we repeatedly stated, this area is a very tech-savvy sectors where all the offerings require a lot of investment in technology and product. Some competitors’ products only build on top of a PC open source projects or a simple rather lean, layer of technology add-ons, which can only serve a fraction part of the demand for our RTE use cases which, of course, limited their capability to expand and grow in this area. And especially for a company like Twilio, they might want to be more focused on their mainstream business. We see that’s the main reason. There could be a reason that COVID demand is also fading away. But as I mentioned in earlier statement, we — while the COVID demand is fading away, we do see there are growth very active use cases growth in developed market in global market.

So I would rather just put that as another factor in their leaving. In terms of our offerings, I do think the two-month free offer for a lot of small, mid-sized customers is a very important reason for them to consider and make them easier to decide to jump on our platform. We do have some other strengths and collaborations or work with rather large customer base, which our team is focusing on to help them to migrate to our platform.

Bing Duan: Thank you very much.

Operator: [Operator Instructions] I’m showing no further questions in the queue. This concludes our Q&A session. Thank you, everybody, for attending the company’s call today. As a reminder, the recording and the earnings release will be available on the company’s website at investor.agora.io. And if there are any questions, please feel free to e-mail the company. Thank you, and have a good day.

Jingbo Wang: Thank you. By-bye.

Tony Zhao: Thank you.