Norway's browser maker Opera posts higher Q1 revenue on AI push; raises FY rev outlook

Opera

28/04/2026 12:16

Overview

Norway browser and AI agent firm's Q1 revenue rose 23% yr/yr, exceeding guidance

Adjusted EBITDA for Q1 grew 30% yr/yr, also above guidance range

Company repurchased 1.14 mln shares for $17 mln under ongoing buyback program

Outlook

Opera sees Q2 2026 revenue of $176–178 mln, up 23–25% year-over-year

Company raises full-year 2026 revenue guidance to $727–740 mln, 18–20% growth

Opera expects 2026 adjusted EBITDA of $170–174 mln, with 23% margin

Result Drivers

ADVERTISING MOMENTUM - Advertising revenue grew 24% yr/yr, led by continued strong momentum from e-commerce partners, which remained the fastest-growing vertical

QUERY REVENUE GROWTH - Query revenue rose 23% yr/yr, benefiting from strong search performance and broader opportunities to address user queries

PRODUCT INNOVATION - Growth in PC browsers following the release of Opera One R3 with new built-in AI tools contributed to higher MAUs and ARPU

Company press release: ID:nPnKn5fDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$175.77 mln
Q1 Earnings per ADS
$0.27
Q1 Net Income
$24.79 mln
Q1 Adjusted EBITDA
$42 mln
Q1 Operating Cash Flow
$42.15 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Opera Ltd is $24.00, about 41.9% above its April 27 closing price of $16.91

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)