Opera Limited (OPRA) Earnings
Opera Limited is expected to report next earnings on August 18, 2026 (in NaN days), with a consensus EPS estimate of $0.27. OPRA has beaten EPS estimates in 3 of its last 5 reported quarters (average surprise -211.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.26 | $0.27 | +4.9% | $176M | +2.8% |
| Aug 19, 2025 | — | $0.17 | — | $143M | — |
| Feb 27, 2025 | $0.28 | $0.32 | +14.3% | $143M | +3.5% |
| May 29, 2024 | — | $0.22 | — | $110M | — |
| Dec 30, 2023 | — | $1.20 | — | $113M | — |
| Jun 30, 2023 | — | $0.15 | — | $94M | — |
| Oct 27, 2022 | $0.11 | $0.10 | -9.1% | $85M | +4.1% |
| Jun 30, 2022 | — | $-0.05 | — | $78M | — |
| Feb 17, 2022 | $0.09 | $-0.68 | -855.6% | $73M | +2.3% |
| Oct 28, 2021 | — | $0.26 | — | $67M | +4.0% |
| Aug 12, 2021 | — | $0.38 | — | $60M | — |
| Nov 19, 2020 | $0.07 | $0.08 | +14.3% | $50M | -23.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Q1 revenue and adjusted EBITDA exceeded guidance ranges, with revenue growth comparable across advertising and query. Advertising revenue was new all-time high of $117 million. • Introduced Browser Connector allowing users to plug favorite AI tools into live browser sessions, reinforcing user choice. • Added 4 million users in Q1, total monthly average users at 288 million, with growth in Western users, Android adoption, PC platform, and Opera GX users. • MiniPay has momentum with over 15 million wallets activated and $20 million revenue from its ecosystem.
Guidance
• Raised full year revenue guidance to $727 to $740 million, 18 to 20% growth. Adjusted EBITDA guidance updated to $170 to $174 million, 23.4% margin at midpoints. • Second quarter revenue guidance 176 to 178 million, 23 to 25% growth. Adjusted EBITDA guidance 40 to 42 million, 23.2% margin. • Cost of revenue expected to be about 38% of revenue for the year. Cash-based compensation expense expected to grow just above 10% for the year. Marketing spend expected to grow about 10% from 2025 level. Other OpEx items pre-adjusted EBITDA expected to increase just over 20% year over year.
Segment performance
Q1 revenue exceeded the high end of guidance range by $4 million, adjusted EBITDA exceeded the high end of guidance range by $2 million. Year-over-year revenue growth was 23% to $176 million, adjusted EBITDA was $42 million with a 24% margin. Advertising revenue was $117 million, 67% of total revenue, grew 24%. Query revenue was $58 million, 33% of total revenue, grew 23%. Added 4 million users during Q1, total monthly average users at 288 million. Analyzed APU was $2.43, a 25% increase year over year. Minipay has activated over 15 million wallets and processed over 413 million total transactions, generating about $20 million of revenue from the broader ecosystem around it.
Analyst Q&A
Q: Eric Sheridan with Goldman Sachs asked about learnings on AI adoption and long-term opportunity set.
A: Song Lin said AI is embedded in browser, users with AI spend more time and search more, focus is on giving user what they want and respecting user behavior.
Q: Naved Han with B Reilly Securities asked about percentage of users engaging with AI chat feature and Google renewal.
A: Song Lin said it's hard to define exact percentage as AI is in many touch points, and Google renewal is going well with good dialogue.
Q: Ron Josie with Citi asked about search evolution and advertising environment.
A: Frodo Jacobson said search revenue growth is strong and broadening, and advertising has opportunities.
Q: Jim Callahan with Piper Sandler asked about travel product rollout and query vs advertising growth.
A: Song Lin said travel is an opportunity to scale using e-commerce lessons.
Q: Jacob Steffen with Lake Street Capital Markets asked about MCP cannibalizing Opera Neo subscriptions.
A: Song Lin said Browser Connector is complementary and makes sense to be widely available.
Q: Jonathan Navarette with TD Cowan asked about buybacks and OpenAI's impact.
A: Frida Jacobson said buybacks are going well and Opera is distinguished from other AI companies by its business model.