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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark One)

¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31,2025

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number:001-39340

Agora, Inc.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Cayman Islands

(Jurisdiction of incorporation or organization)

Floor 8, Building 12, Phase III of ChuangZhiTianDi,333 Songhu Road

Yangpu District, Shanghai,200433

People’s Republic of China

(Address of principal executive offices)

Jingbo Wang, Chief Financial Officer

Telephone:+86-400-632-6626

Email: investor@agora.io

Floor 8, Building 12, Phase III of ChuangZhiTianDi,333 Songhu Road

Yangpu District, Shanghai,200433

People’s Republic of China

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
American depositary shares (each American depositary shares representing four Class A ordinary share, par value US$0.0001 each)APIThe Nasdaq Global Select Market
Class A ordinary shares, with a par value of US$0.0001 each*The Nasdaq Global Select Market

Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of American depositary shares

Securities registered or to be registered pursuant to Section 12(g) of the Act:

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.