Q1 2025 Opera Ltd Earnings Call Transcript
Key Points
- Opera Ltd (OPRA) reported a strong year-over-year revenue growth of 40% in Q1 2025, surpassing their previous guidance.
- Advertising revenue grew by 63%, with e-commerce being the fastest-growing vertical, achieving over 100% annualized growth.
- The company achieved an adjusted EBITDA of $32 million, with a margin of 23%, indicating strong profitability.
- Opera Ltd (OPRA) successfully launched new products, including Opera Air and enhancements to Opera One and GX, which have been well-received.
- The company raised its full-year revenue guidance to $567 million to $582 million, reflecting confidence in continued growth.
- Search revenue growth slowed to 8% year-over-year, down from previous double-digit growth rates.
- The overall user base showed signs of decline, with challenges in maintaining the 300 million MAUs mark.
- The strong US dollar provided a headwind, impacting growth by an estimated 5 to 6 percentage points.
- There is ongoing volatility in the macroeconomic environment, particularly affecting US e-commerce opportunities.
- Marketing expenses are expected to grow in the high-single digits year-over-year, potentially impacting margins.
Welcome to the Opera Limited first-quarter 2025 earnings call. (Operator Instructions)
Please be advised that today's call is being recorded. (Operator Instructions) I would now like to turn the call over to your speaker today, Matt Wolfson, Head of investor relations. Please begin.
Thank you for joining us. This morning, I am joined by our Co-CEO Song Lin; and our CFO, Frode Jacobsen. Before I hand over the call to Song Lin, I would like to remind you that some of the statements that we make today regarding our business, operations, and financial performance may be considered forward-looking.
Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to the Safe Harbor statement in our earnings press release, as well as our Annual Report, Form 20-F, including the risk factors. We undertake no obligation to update any forward-looking statements.
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