Opera (OPRA) Citi's 2024 Global TMT Conference summary

Company vision and innovation

• Focus on providing browser choice and innovation for over 30 years, with 300 million global users.

• Pioneered features like tab browsing and integrated search/address bar.

• Emphasis on accessibility, offering all features, including AI, free to users.

• Monetization primarily through search and advertising partnerships.

• Maintains a healthy revenue growth trajectory and EBITDA profile.

Product differentiation and user segments

• Unique data-saving browser for emerging markets, accessible on feature phones, with free or low-cost data.

• Flagship browser includes built-in ad block, free VPN, integrated messengers, and AI assistant Aria.

• Gaming browser (GX) tailored for gamers, offering deep customization, resource controls, and fun features.

• Gaming browser has 30 million users, high ARPU, and targets Gen Z in Western and emerging markets.

• Three main user segments: emerging markets, internet-savvy millennials, and Gen Z gamers.

AI integration and partnerships

• AI assistant Aria is cross-platform, with a unified backend connecting to multiple LLMs (OpenAI, Google, Meta).

• First browser to offer local LLMs for privacy and offline use.

• Invested in proprietary AI infrastructure (SuperPOD in Iceland) for unique features and privacy.

• Partnership with Google integrates Gemini LLM, enabling multimedia AI features and search grounding.

• AI features are embedded, free, and designed to simplify user experience while offering advanced controls.