The following is the Revenue of $134 million in 2020, up 107.3% year on year From Sound network recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, instant messaging , Investment & Economy, social networks.
On February 23, 2021, Agora (NASDAQ: API) released its financial report for the fourth quarter and the whole year of 2020. In the fourth quarter, the sound network achieved a revenue of US $33.25 million, an increase of 74.1% year on year. In 2020, the total revenue was 134 million US dollars, a year-on-year increase of 107.3%.
According to the financial report released by the sound network, in the fourth quarter, the sound network achieved a revenue of $33.25 million, a year-on-year increase of 74.1%; the net loss was $6.182 million, a year-on-year loss of $2.342 million, a diluted loss of $0.06 per ads, and a year-on-year loss of $0.73 per ads.
The revenue and cost in the fourth quarter of 2020 was US $13.2 million, an increase of 104.5% compared with us $6.4 million in the same period last year. Soundnet said that the main reasons were the expansion of business scale, the increase of bandwidth and hosting costs, and the depreciation of servers and network equipment.
In addition, R & D expenditure in the fourth quarter was US $14.438 million, an increase of 102.6% over the same period last year, and gross profit in the fourth quarter was US $2009.6 million, an increase of 58.6% over the same period last year.
The gross margin in the fourth quarter was 60.4%, down 5.9% from 66.3% in the same period last year. According to the financial report, this is mainly due to the increased cost of infrastructure and capacity expansion caused by international business expansion.
For the whole year, the revenue of sound network in 2020 is 134 million US dollars, with a year-on-year growth of 107.3%; the net loss is 3.11 million US dollars, and the loss in 2019 is 6.18 million US dollars. The loss per ads is $3.02 after dilution and $2.31 in 2019.
According to the financial report, Stanley Wei, the former highland capital, will join the company as the chief strategy officer, responsible for the overall strategic planning, investment and global expansion business.
In January 2021, soundnet announced that it would complete the acquisition of easemob, an instant messaging cloud and customer service cloud service provider, in the first quarter of 2021. After the acquisition, the two sides will combine at the product level to jointly build RTC + im product portfolio of real-time interactive cloud industry.
The company’s revenue is expected to be between $178 million and $182 million in 2021. On February 22, after hours, the share price of soundnet fell about 10%.
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