The earnings call reflected strong financial performance with record revenue growth and ARPU, and strategic advancements in product offerings like Opera GX and AI integration. Despite some increased costs in marketing and revenue, the company exceeded its guidance and maintained a strong cash flow position. Challenges like the unchanged valuation of the OPay stake and higher cost of revenue did not overshadow the overall positive outlook.

Company Guidance

During Opera Limited's Q3 2024 earnings call, the company provided updated guidance reflecting strong financial performance and growth prospects. In Q3, Opera reported $123 million in revenue, marking a 20% year-over-year increase, which surpassed previous expectations and guidance. The annualized ARPU grew by 27% to $1.66, and adjusted EBITDA reached $31 million, representing a 25% margin. Advertising revenue was a standout, particularly in the e-commerce and travel categories, with $77 million in the quarter, up 26% year-over-year. Opera is optimistic about further accelerating growth in Q4, projecting revenue between $135 million and $138 million, with a 21% year-over-year increase at the midpoint. Adjusted EBITDA for Q4 is expected to be between $30 million and $32 million, with a 23% margin. For the full year, the company raised its revenue guidance to $470 million to $473 million, anticipating a 19% growth, and increased its adjusted EBITDA guidance to $112 million to $114 million, with a 24% margin. The company emphasized its commitment to maintaining a Rule of 40 status and highlighted significant momentum in its AI initiatives, particularly with the Opera One R2 browser release and ongoing investments in its core product portfolio.

Revenue Growth Acceleration

Revenue for Q3 was $123 million, growing 20% year-over-year, an acceleration from the 17% growth rate in the first half of the year.

Record Annualized ARPU

Annualized ARPU grew 27% year-over-year to a new record of $1.66.

Exceeding Guidance

Both revenue and adjusted EBITDA exceeded the high end of the Q3 guidance ranges.

Strong Advertising Revenue Growth

Advertising revenue was $77 million, growing 26% year-over-year, the highest rate since 2022.

Opera GX User Growth

Opera GX browser gained over 1.8 million net new users in the quarter, a 22% increase compared to last year.

Strong Cash Flow

Operating cash flow was at an all-time high of $34.9 million, representing 113% of adjusted EBITDA.

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Opera (OPRA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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OPRA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 23, 2018	2018 (Q2)	- / 0.08	―	―	―	―
Nov 08, 2018	2018 (Q3)	- / 0.09	―	―	―	―
Feb 21, 2019	2018 (Q4)	- / 0.12	―	―	―	―
May 22, 2019	2019 (Q1)	- / 0.04	0.06	-41.67% (-0.02)	―	―
Aug 22, 2019	2019 (Q2)	- / 0.05	0.077	-32.47% (-0.03)	―	―
Nov 14, 2019	2019 (Q3)	- / 0.27	0.093	190.32% (+0.18)	―	―
Feb 25, 2020	2019 (Q4)	- / 0.20	0.115	73.91% (+0.09)	―	―
May 20, 2020	2020 (Q1)	- / -0.14	0.035	-500.00% (-0.18)	―	―
Aug 20, 2020	2020 (Q2)	- / 0.17	0.052	226.92% (+0.12)	―	―
Nov 19, 2020	2020 (Q3)	- / 0.08	0.27	-70.37% (-0.19)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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OPRA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$16.53	$18.20	+10.10%
Aug 22, 2024	$12.58	$14.22	+13.04%
Apr 25, 2024	$13.80	$12.95	-6.16%
Feb 29, 2024	$11.07	$11.60	+4.79%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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