Opera (NasdaqGS:OPRA) FY Conference Transcript

Summary of Opera FY Conference Call - September 10, 2025 Company Overview - Company: Opera (NasdaqGS: OPRA) - Industry: Consumer Internet, Browser Development - User Base: Approximately 300 million users - Revenue: Approximately $600 million, growing over 20% year-over-year [2][3] Core Products - Opera One: Targeted at tech-savvy and design-oriented users [4] - Opera GX: Designed specifically for gamers, featuring high engagement and the highest Average Revenue Per User (ARPU) [5][6] Financial Performance - EBITDA: Positive around 23% with good cash conversion [3] - Advertising Growth: Over 100% year-over-year growth in e-commerce initiatives, with a focus on major partners like Amazon [10][12] - Search Revenue: Accounts for roughly one-third of total revenue, typically outgrowing Google's search revenue [20][21] Market Position and Strategy - Market Share: 4% in key regions, with significant growth potential [12] - User Acquisition: Focus on high ARPU user bases, particularly in Western markets [21] - Advertising Strategy: Performance-based partnerships with major global and regional players [15] Competitive Landscape - Google Antitrust Case: Recent ruling allows Google to continue paying revenue shares to traffic sources like Opera, which is beneficial for Opera's search revenue [24][28] - Browser Competition: Opera differentiates itself by focusing on niche markets rather than competing for the majority market share [4][43] Innovations and Future Growth - AI Integration: Launching a native AI browser called Neon, which enhances user productivity and monetization opportunities [37][38] - MiniPay: A stablecoin wallet with 9 million wallets and 250 million transactions, showing rapid growth in emerging markets [47][48] Capital Return Strategy - Shareholder Returns: Nearly $500 million returned since 2020 through buybacks and dividends, with a focus on maintaining a recurring dividend [58][59] Key Takeaways - Opera is positioned for continued growth in the browser market, leveraging its unique products and strong user engagement - The company is actively expanding its advertising and e-commerce initiatives, with a focus on high-value partnerships - Innovations in AI and financial services like MiniPay are expected to drive future growth and enhance user experience