Opera (OPRA) Goldman Sachs Communacopia + Technology Conference 2024 summary

Platform overview and user base

• Operates as a Norwegian web browser company with nearly 30 years of history and 300 million monthly active users globally.

• Western markets account for 17% of users but generate over half of revenue, with a focus on high ARPU segments and younger, tech-savvy demographics.

• Gaming-focused browser GX now represents 10% of users, with high engagement and monetization.

Strategic priorities and growth

• Marketing spend is concentrated on high ARPU Western users, with 70% of marketing budget allocated to this segment.

• Key investment areas include Western user growth, Opera GX, and expanding iOS presence, especially in Europe.

• Ongoing product innovation with the upcoming Opera One R2 release and continued AI integration.

Regulatory and competitive landscape

• Digital Markets Act in Europe has opened iOS to alternative browsers, doubling the mobile target population in Europe.

• Early positive user inflow on iOS observed, with plans to increase visibility and marketing on the platform.

• Regulatory changes and antitrust actions are seen as opportunities to increase competition and user acquisition.