Opera Surpasses Guidance with 25% Revenue Growth, Raises Full-Year Outlook
Event summary
- Opera reported Q2 2026 revenue of $178.1 million, up 25% YoY, exceeding guidance.
- Adjusted EBITDA reached $42.4 million, a 32% YoY increase with a 24% margin.
- Full-year revenue guidance raised to $734–742 million, with adjusted EBITDA of $172–175 million.
- Advertising revenue grew 27% YoY to $115.4 million, driven by e-commerce partners.
- Query revenue increased 21% YoY to $62.1 million, supported by strong search performance.
The big picture
Opera's strong Q2 2026 results highlight its strategic pivot towards AI-enabled browsing experiences, positioning it as an independent platform in a competitive digital advertising landscape. The company's focus on capital efficiency and organic growth, coupled with its expanding user base and ARPU, underscores its ability to navigate market dynamics effectively. The raised full-year guidance reflects underlying momentum, though execution risks remain in maintaining operational leverage.
What we're watching
- AI Integration
- How Opera's Browser Connector for AI services like Claude and ChatGPT will drive user engagement and monetization.
- Revenue Diversification
- Whether the 25% ARPU growth and strong performance in advertising and query revenue can be sustained.
- Operational Efficiency
- The pace at which Opera can maintain its 24% adjusted EBITDA margin amid rising operating expenses.
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