Core Insights - Opera Limited reported a 30% year-over-year revenue growth to $143.0 million, exceeding guidance [1][8] - Adjusted EBITDA reached $32.1 million, representing a 22% margin, also surpassing expectations [1][13] - The company raised its full-year revenue guidance to $585 – 597 million with a 23% adjusted EBITDA margin at the midpoints [1][21] Financial Performance - Revenue for the second quarter of 2025 was $143.0 million, a 30% increase from $109.7 million in the same quarter of 2024 [4][8] - Net income decreased by 19% to $15.7 million, with a net income margin of 11% compared to 18% in Q2 2024 [4][13] - Adjusted net income increased by 14% to $23.7 million, with an adjusted net income margin of 17% [4][13] - Adjusted EBITDA rose by 21% to $32.1 million, with a margin of 22% [4][13] Revenue Breakdown - Advertising revenue grew by 44% year-over-year to $92.9 million, accounting for 65% of total revenue [12] - Search revenue increased by 11% year-over-year to $49.6 million, representing 35% of total revenue [12] - The annualized average revenue per user (ARPU) was $1.97, a 35% increase compared to Q2 2024 [12] Operating Expenses - Operating expenses increased by 40% to $124.9 million [9] - Share-based compensation expenses surged by 354% to $8.8 million due to the granting of approximately 1.9 million share-equivalent RSUs [12] - Personnel expenses, excluding share-based compensation, rose by 5% to $18.7 million [12] Cash Flow and Dividends - Net cash flow from operating activities was $33.1 million, representing 103% of adjusted EBITDA [12][14] - Free cash flow from operations was $29.1 million, or 91% of adjusted EBITDA [14] - A dividend of $0.40 per share was announced and paid in July [12] Business Outlook - The company anticipates continued growth in AI-powered intent-based advertising, particularly in e-commerce [2] - Opera expects to maintain momentum in search revenue, contributing to the raised guidance for the year [17]