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OPRA

Opera Limited

OPRA

Opera Limited • NASDAQ
$13.62 ▲ 1.87% (+0.25)
Market Cap $1.22 B
52w High $22.50
52w Low $12.62
Dividend Yield 0.78%
P/E 15.13
Volume 457.02K
Outstanding Shares 89.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $151.937M ▲ $76.918M ▲ $18.618M ▲ 12.254% ▲ $0.21 ▲ $27.553M ▲
Q2-2025 $142.962M ▲ $73.991M ▲ $15.676M ▼ 10.965% ▼ $0.18 ▼ $22.62M ▼
Q1-2025 $142.716M ▼ $70.948M ▲ $18.283M ▼ 12.811% ▼ $0.21 ▼ $25.345M ▼
Q4-2024 $145.834M ▲ $70.503M ▲ $28.689M ▲ 19.672% ▲ $0.32 ▲ $38.481M ▲
Q3-2024 $123.209M $66.909M $17.94M 14.561% $0.2 $27.049M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $119.042M ▼ $1.06B ▼ $112.146M ▼ $947.644M ▼
Q2-2025 $133.823M ▲ $1.07B ▲ $113.927M ▲ $955.761M ▲
Q1-2025 $103.546M ▼ $1.043B ▼ $113.517M ▼ $929.529M ▼
Q4-2024 $126.797M ▲ $1.056B ▲ $115.485M ▲ $940.1M ▲
Q3-2024 $106.005M $1.013B $100.973M $911.692M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $22.584M ▲ $28.454M ▼ $-6.433M ▼ $-37.106M ▼ $-14.781M ▼ $22.476M ▼
Q2-2025 $17.763M ▼ $33.119M ▲ $-1.971M ▲ $-1.37M ▲ $30.277M ▲ $30.254M ▲
Q1-2025 $20.791M ▼ $15.945M ▼ $-3.399M ▼ $-36.606M ▼ $-23.251M ▼ $15.349M ▼
Q4-2024 $34.03M ▲ $21.643M ▼ $-1.328M ▲ $-1.236M ▲ $20.792M ▲ $19.737M ▼
Q3-2024 $17.94M $34.896M $-3.343M $-28.726M $1.649M $30.78M

Five-Year Company Overview

Income Statement

Income Statement Opera’s income statement shows a business that has scaled up meaningfully over the last several years. Revenue has risen steadily, and the company has moved from occasionally losing money to being consistently profitable. Profitability at the operating level is now clearly positive, which suggests the core business model is working, not just one-time gains. That said, earnings have been somewhat lumpy from year to year, likely reflecting one-off items and swings in investment or partnership income. Overall, the direction is positive: higher sales, stronger margins than in the past, but with some volatility in bottom-line results that investors should expect to continue.

Balance Sheet

Balance Sheet The balance sheet looks conservative and generally healthy. Total assets have been stable to slightly up, and shareholder equity makes up the vast majority of the capital structure. Debt is very low, which reduces financial risk and interest burden. Cash levels, while not huge, have been building over time, giving Opera a reasonable cushion to fund growth and weather downturns. In simple terms, the company appears to be run with a “light” balance sheet and modest leverage, which supports flexibility but also means future growth will mostly need to be funded by continued cash generation or equity rather than heavy borrowing.

Cash Flow

Cash Flow Cash flow is a clear strength. Opera generates positive cash from its operations year after year, and that cash flow has improved as the business has scaled. After modest spending on capital investments, free cash flow remains solidly positive, indicating an asset‑light model that doesn’t require heavy ongoing investment in physical infrastructure. This pattern suggests that much of each incremental dollar of revenue can eventually turn into cash that can be used for product development, marketing, or returns to shareholders. The main risk is less about cash generation today and more about whether growth and monetization remain strong enough to keep this trajectory going.

Competitive Edge

Competitive Edge Opera operates in an extremely competitive browser and online services market dominated by tech giants, but it has carved out distinct niches instead of fighting head‑on. It focuses on gamers with Opera GX, data‑constrained users in emerging markets with Opera Mini, and more privacy‑ and crypto‑aware users with its main browser. Integrated features like built‑in ad blocking, VPN, crypto wallet, and now AI assistant Aria create a differentiated, “everything included” experience. Opera’s brand is particularly strong in parts of Africa and Asia, and it benefits from agility that bigger rivals often lack. The flip side is that its global market share is still small, it is heavily exposed to advertising and search partnerships, and platform owners (like Google, Apple, Microsoft) can change rules or copy features, which keeps its competitive position powerful in niches but fragile at the global scale.

Innovation and R&D

Innovation and R&D Innovation is at the center of Opera’s strategy. The company has a long track record of introducing browser features that later become mainstream, and it is now leaning heavily into AI, Web3, and fintech. Aria, its built‑in AI assistant, shows a push toward deeper, native AI experiences rather than bolt‑on extensions, including work on on‑device AI for privacy and performance. Opera GX for gamers and Opera Mini for low‑bandwidth users demonstrate focused product design for distinct segments. Early moves in crypto and Web3, including a native wallet, and the MiniPay product in African markets, show Opera experimenting with financial services layered on top of its browser reach. The opportunity is to turn these innovations into durable ecosystems and higher‑value users; the risk is spreading R&D across many initiatives and facing rapid imitation or regulatory challenges, especially in crypto‑related areas.

Summary

Overall, Opera looks like a niche-focused, asset‑light internet company that has grown steadily and become meaningfully more profitable over the last several years, supported by a clean balance sheet and reliable free cash flow. Its strategy is to avoid direct battles with the largest browsers and instead win specific user groups with differentiated features, strong presence in selected regions, and early adoption of AI, gaming, Web3, and fintech capabilities. The main strengths are steady top‑line growth, improving and cash‑rich economics, low debt, and a culture of rapid product innovation. The main uncertainties are its small scale versus tech giants, dependence on advertising and search partners, execution risk in new areas like MiniPay and Web3, and the possibility that platform changes or regulation could affect how it distributes and monetizes its products. For now, Opera’s story is one of a focused challenger using innovation and specialization to build a profitable, if still relatively small, global franchise.

NEWS

November 19, 2025 · 11:45 AM UTC

MiniPay connects stablecoins to real time payment in Latin America: rolls out PIX, Mercado Pago support at DevConnect

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November 13, 2025 · 8:13 AM UTC

iOS users benefit from browser alternatives - Opera reports up to 5x growth in key markets

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November 10, 2025 · 7:00 AM UTC

Opera to Participate at Upcoming Investor Conference

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November 7, 2025 · 7:00 AM UTC

Notice of Annual General Meeting to Be Held on December 9, 2025

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October 29, 2025 · 7:13 AM UTC

Opera Reports Third Quarter 2025 Results Ahead of Expectations, Raises Full-Year Guidance Ranges for Both Revenue and Adjusted EBITDA

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