Opera (OPRA) 28th Annual Needham Growth Conference Virtual summary

Strategic evolution and financial highlights

• Transitioned from a browser company to a diversified consumer internet platform, now spanning search, advertising, and fintech services.

• Achieved nearly 300 million monthly active users, with strong growth in Western markets and a focus on high-ARPU segments.

• Guided for $600 million in revenue and $140 million in adjusted EBITDA for 2025, with a recurring semi-annual dividend and significant share buybacks since 2020.

• Maintains a stable leadership team and a solid balance sheet with no financial debt and a notable stake in OPay.

Product innovation and user segmentation

• Offers multiple browser versions tailored to specific user groups, including Opera One, GX for gamers, and Neon for agentic browsing.

• Integrated AI features, including proprietary Opera AI, enabling advanced in-browser tasks and research.

• Gaming browser GX targets a high-value, tech-savvy audience, contributing significantly to revenue with strong growth potential.

• Launched MiniPay, a non-custodial stablecoin wallet, rapidly scaling to over 12 million wallets and 360 million transactions, especially in emerging markets.

Revenue model and market dynamics

• Revenue is split between query-based (search and AI dialogue) and advertising, with two-thirds from advertising.

• Long-standing partnership with Google for search revenue share; advertising is primarily performance-based, focused on conversion and customer acquisition.

• E-commerce and travel verticals have grown over 100% year-over-year, driving revenue and profit expansion.

• Maintains a balance between growth investment and profitability, consistently achieving the Rule of 40 for 18 quarters.