API
Agora Inc.
Is API Halal?
Real-time engagement API — permissible video/audio technology.
What You Should Know
Agora's current results describe real-time video, voice, chat, interactive-streaming and conversational-AI APIs across Agora and Shengwang. The infrastructure is generally permissible, while social, entertainment, live-shopping and financial-service use cases require review.
⚠️ Concerns
- •High cash and bank-product liquidity
- •Chinese operations and cross-border data risk
- •Social, entertainment and financial-service use cases
Current quantitative Sharia screen
Based on Issuer Q1 2026 financial results figures for the period ended 2026-03-31; calculated 2026-07-14.
91.125 / 724.182
369.689 / 724.182
129.963 / 724.182
3.44 / 37.745
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 51.05% and interest income/revenue is 9.11%, both above the examined FTSE limits; debt/assets is 12.58% and receivables plus cash/assets is 17.94%.
- Financial
- Fails
- Overall
- Fails
Cash plus identifiable interest-bearing securities is 51.05%, above the examined MSCI total-assets liquidity limit; business activity also remains incomplete.
- Financial
- Fails
- Overall
- Fails
Identifiable conventional liquidity/assets is 51.05%, above the examined Malaysia SAC financial limit. This is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based liquidity and income screens fail independently.
Business-activity disclosure
Agora provides real-time video, voice, chat, interactive streaming and conversational-AI APIs. Communications infrastructure can be permissible, while live shopping, social and entertainment content, financial-service customers, data processing and AI deployment require qualitative review.
Limitation: The quarterly release does not allocate revenue by customer end use, content category, financial-service workflow or other universal prohibited-activity taxonomy.
Purification
Agora discloses $3.440 million of interest income, approximately 9.11% of quarterly revenue; ZakatInvest does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Agora's unaudited March 31, 2026 consolidated balance sheet and income statement.
- Interest-bearing debt is $91.125 million of long-term borrowings for the headquarters project; operating leases are excluded.
- Cash is $105.068 million. Interest-bearing securities use $179.036 million of short-term bank deposits, $52.000 million of bank-issued financial products, $3.585 million of short-term investments and $30.000 million of long-term bank deposits; long-term equity investments are excluded.
- Accounts receivable is $24.895 million and first-quarter revenue is $37.745 million. Separately disclosed interest income is $3.440 million, approximately 9.11% of revenue.
- Agora operates real-time engagement and conversational-AI PaaS businesses in the Agora and Shengwang divisions; live shopping, social, entertainment and financial-service use cases are disclosed but not separated into a universal prohibited-revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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