Agora, Inc.

Regulatory & geopolitical risk - ~47% of total revenue generated through Shengwang brand in China. Subject to PRC cybersecurity laws, data localization requirements, and potential US-China escalation impacting cross-border data flows. Cayman Islands holding company structure adds VIE risk.

ByteDanceMajor Chinese customer in social/live streaming vertical

Xiaomi CorporationHKEX:1810Chinese OEM customer

NetEase, Inc.NASDAQ:NTESChinese technology and gaming partner

United States (Agora brand headquarters & operations)

Regulatory & trade risk - Agora is a Cayman Islands company with Chinese founders/roots, listed on NASDAQ. Subject to potential US restrictions on Chinese technology companies (analogous to scrutiny faced by other China-based US-listed tech firms). Audit oversight by PCAOB adds compliance burden.

ClubhouseFormer major US customer (social audio)

OpenAIStrategic AI model partner based in US

Google CloudNASDAQ:GOOGLUS-based cloud and AI partner

집중도

공급망을 왜곡할 수 있는 고객, 공급업체 또는 파트너 집중 노출.

Foundry

Low

Agora is a pure software/PaaS company with nominal hardware dependency. No foundry concentration risk present.

Memory

Low

Not applicable to Agora's business model as a software company. No memory chip exposure.

Customer

Low

Well-diversified customer base with 3,946 active customers (Q1 2026). No single customer represents >10% of total revenue. Dollar-Based Net Retention Rate was 99% (Q1 2026). Low customer concentration risk.

Equipment

Medium

Agora relies on cloud infrastructure from major hyperscalers (AWS, Azure, GCP, Alibaba Cloud) for compute, storage, and bandwidth. If any single provider experiences outage or renegotiation difficulties, service delivery would be impacted.

Other

Medium

Revenue concentration between international (Agora brand - 53%) and China (Shengwang brand - 47%) creates dual dependence on both markets. Conversational AI product expansion increases reliance on third-party LLM providers (OpenAI, Google, xAI) which could change API pricing or access terms.

매출 구성

대상 기업의 매출 구성이 공급망 영향력과 의존도로 이어지는 방식.

Agora (International Brand) - RTE-PaaS & Conversational AI

53.0%

$0.1B

Drives demand for global cloud infrastructure (AWS, Azure, GCP), bandwidth from network operators, and AI model API access (OpenAI, Google Gemini). Growing conversational AI product line increases reliance on LLM API providers.

Shengwang (China Brand) - RTE-PaaS

47.0%

$0.1B

Drives demand for China-based cloud providers (Alibaba Cloud, Tencent Cloud, Huawei Cloud) and local data center colocation. Subject to PRC regulatory environment and US-China geopolitical dynamics.

회사 소개개인정보 처리방침서비스 약관면책 조항종목 디렉터리ETF지수13F 보유 종목목표주가무료 도구기술 지도Slack 참여하기

Plutux는 투자자문업자가 아닙니다. 시장 데이터와 AI가 생성한 분석은 정보 제공 및 교육 목적일 뿐 투자 자문이 아닙니다. 면책 조항

Agora, Inc.

API 공급망

상류

Amazon Web Services (AWS)

Microsoft Azure

Google Cloud

Alibaba Cloud

Tencent Cloud

Huawei Cloud

OpenAI

xAI

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하류

Clubhouse

ByteDance (TikTok/Douyin parent)

Xiaomi Corporation

Huawei Technologies

New Oriental Education & Technology Group

NetEase, Inc.

V-cube, Inc.

Sentino

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대체 기업

Twilio Inc.

Zoom Video Communications, Inc.

RingCentral, Inc.

Alibaba Group Holding Ltd.

지역

China (Shengwang operations)

United States (Agora brand headquarters & operations)

API 공급망

상류

Amazon Web Services (AWS)

Microsoft Azure

Google Cloud

Alibaba Cloud

Tencent Cloud

Huawei Cloud

OpenAI

xAI

View More

하류

Clubhouse

ByteDance (TikTok/Douyin parent)

Xiaomi Corporation

Huawei Technologies

New Oriental Education & Technology Group

NetEase, Inc.

V-cube, Inc.

Sentino

View More

대체 기업

Twilio Inc.

Zoom Video Communications, Inc.

RingCentral, Inc.

Alibaba Group Holding Ltd.

지역

China (Shengwang operations)

United States (Agora brand headquarters & operations)