Financial Data and Key Metrics - Q1 2024 revenue was $102 million, exceeding guidance, with a 17% YoY growth and 23% constant currency growth [33][40] - Adjusted EBITDA reached $25 million, representing a 24% margin, also exceeding guidance [33][40] - Advertising revenue grew 21% YoY to $59 million, accounting for 58% of total revenue [29] - Search revenue increased 14% YoY to $43 million, driven by high-value users [29] - Annualized ARPU was $1.34 in Q4, up 24% YoY, driven by high ARPU markets and Opera GX growth [58] Business Line Data and Key Metrics - Opera GX reached 29.5 million users, up 6.1% QoQ, with ARPU of $3.49 in Q1, up 10% YoY [61] - Opera GX remains the highest monetizing browser across both developed and emerging markets [61] - Opera One, the AI-focused browser, continues to innovate with features like local AI models and GX Mods, which have been installed over 150 million times [37][62][39] - Advertising revenue within the browser experienced the fastest YoY growth since Q2 2021 [59] Market Data and Key Metrics - In the EU, new iOS users increased by 63% from February to March following the implementation of the Digital Markets Act (DMA) [60] - The company sees a significant opportunity in the US market, where Apple holds 70% of the performance smartphone market [73] - Western markets (Europe and North America) represent 17% of the total user base but account for the majority of marketing spend and revenue growth [51] Company Strategy and Industry Competition - The company focuses on high-value users and quality over quantity, with a strategy to grow in high ARPU markets and Opera GX [58] - The DMA in the EU has leveled the playing field, allowing the company to increase iOS investments and explore similar opportunities in other markets [60][73] - The company continues to innovate with AI features, including local AI models and Aria, its AI cloud service powered by green energy in Iceland [39][64] - Opera GX is expanding its monetization beyond search, with a focus on advertising revenue drivers [53] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the DMA's impact and sees potential for similar frameworks in other markets, including the US [48][73] - The company expects marketing spend to increase by $1-2 million per quarter, with a focus on Western markets and high-value populations [18] - Management is excited about the growth potential in iOS and the broader AI-driven browser market [10][39][64] Other Important Information - The company paid a semi-annual dividend of $0.40 per ADS, totaling $35 million, with $25 million offset against the Star X receivable [42] - The fair value of the company's 9.4% stake in OPay was adjusted to $253 million, resulting in a Q4 valuation gain of $90 million [43] - The company issued updated revenue guidance for 2024, raising the midpoint to 16% growth, with Q2 revenue expected to be $107-109 million [44][45] Q&A Session Summary Question: Opportunity in the EU under DMA - The company sees a significant opportunity in the EU, with a 63% increase in new iOS users post-DMA implementation [60][72] - Management expects to increase iOS investments and sees potential for similar frameworks in other markets, including the US [73][85] Question: Google Renewal and Buyback - The early renewal of the Google partnership reflects the value of the relationship and joint potential [8] - The company has fully consumed its $50 million buyback plan and will monitor opportunities for future buybacks [78] Question: Opera GX Monetization and Growth - Opera GX's ARPU growth is strong, with a 10% YoY increase in Q1, despite geographic expansion into non-Western markets [61][88] - The company is expanding GX's monetization beyond search, focusing on advertising revenue drivers [53] Question: Marketing Spend and Ad Auctions - Q1 marketing spend was 2% below Q4 levels, with expectations of incremental spend throughout the year [18] - The company focuses on influencer marketing and high user intent events, which are less affected by competitive ad auctions [107][108] Question: DMA Implementation and User Retention - The company has seen a significant increase in default browser settings among new iOS users in the EU, which positively impacts user engagement and retention [111] Question: AI Features and Local Models - The company is proud of its AI innovations, including local AI models like Llama 3, which enhance user experience without additional costs [23][25] - AI features are expected to attract high-value users and improve monetization opportunities [118]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. 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: 001-38588 Opera Limited FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) O ...

Exhibit 99.1 Opera Reports Fourth Quarter Ahead of Expectations, Concluding a Year of Strong Growth and Margin Expansion Fourth quarter revenue of $113.0 million, +17% YoY growth and at the top of $110-113 million guidance range Fourth quarter adjusted EBITDA at $27.8 million, a 25% margin and exceeding the $22-24 million guidance range 2023 expectations lifted quarter by quarter, full-year revenue concluded at $397 million or 20% annual growth, with adjusted EBITDA at $94 million or 38% annual growth follo ...

Exhibit 99.1 2023 expectations lifted quarter by quarter, full-year revenue concluded at $397 million or 20% annual growth, with adjusted EBITDA at $94 million or 38% annual growth following margin expansion of 300 basis points to 23.6% Company guides revenue of $450-465 million and a 24% adjusted EBITDA margin at the midpoint for 2024 Opera repurchased 1.15 million ADSs for $13 million in the fourth quarter, concluding its third repurchase program OSLO, Norway, February 29, 2024 /PRNewswire/ – Opera Limite ...

One GX Android/iOS PC/Mac Android/iOS PC/Mac EMERGING MARKETS Opera Mini Android and Feature Phones 6 | --- | --- | |------------------------|---------------------------------| | | | | | Tabbed browsing | | A HISTORY OF | Integrated search | | | PC-Mobile sync | | INNOVATION | Data saving | | | Newsfeed | | | Video multitasking | | | Ad blocker | | | Messengers | | One GX | Browser VPN | | | Native Crypto-wallet | | | Hardware controls | | OPERA BROWSER AI ARIA | Data plans in Emerging Markets | | | Modular ...

Exhibit 99.1 Opera Reports Both Revenue and Adjusted EBITDA Above Guidance in its Second Quarter 2023 Results 10th consecutive quarter of 20+% revenue growth, exceeding the high end of previously issued guidance on both revenue and adjusted EBITDA Q2 revenue grew 21% year-over-year, with an adjusted EBITDA margin of 22% Company released Opera One, the latest version of Opera's flagship browser, incorporating new functionality and a redesigned experience Opera introduced 'Aria', a fully integrated browser AI ...

Opera Limited (NASDAQ:OPRA) Q1 2023 Results Conference Call April 27, 2022 8:00 AM ET Company Participants Matthew Wolfson - Head of Investor Relations Song Lin - Co-Chief Executive Officer Frode Jacobsen - Chief Financial Officer Conference Call Participants Lance Vitanza - TD Cowen Mark Argento - Lake Street Alicia Yap - Citigroup Operator Welcome to the Opera Limited First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be ...

Exhibit 99.1 Opera Reports Both Revenue and Adjusted EBITDA Above Guidance in its First Quarter 2023 Results Ninth consecutive quarter of 20+% revenue growth, exceeding the high end of previously issued guidance on both revenue and adjusted EBITDA Q1 revenue grew 22% year-over-year, with an adjusted EBITDA margin of 25% Opera introduced its first generative AI features directly into the browser Company raises the midpoint of revenue guidance and adjusted EBITDA expectations for 2023 OSLO, Norway, April 27, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ 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, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) ...

Opera Limited (NASDAQ:OPRA) Q4 2022 Earnings Conference Call February 27, 2023 8:00 AM ET Company Participants Matt Wolfson - Head of Investor Relations Song Lin - Co-Chief Executive Officer Frode Jacobsen - Chief Financial Officer Conference Call Participants Mark Argento - Lake Street Alicia Yap - Citigroup Operator Welcome to the Opera Limited Fourth Quarter and Full Year 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a questi ...