Agora, Inc. reported impairment of Goodwill for the second quarter ended June 30, 2023. Impairment of goodwill was $31.9 million in the second quarter of 2023. As a result of the completion of Easemob?s organizational integration in the second quarter of 2023, the Company only identified one reporting unit.

Considering the negative impact on market demands as a result of a challenging global macroeconomic environment and regulatory changes in certain sectors, the Company performed quantitative impairment tests on the goodwill and recognized the impairment of goodwill, whereas there were no material transactions in the same period last year.