Opera Exceeds Q4 & Full-Year 2025 Expectations, Issues Strong 2026 Guidance, and Authorizes Substantial $300M Share Repurchase Program
Summary
Opera Ltd. reported Q4 and full-year 2025 results that exceeded expectations, provided strong 2026 guidance, and announced a significant $300 million share repurchase program.
Key Events
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Exceeded Q4 and Full-Year 2025 Financial Guidance
Opera reported Q4 2025 revenue of $177.2 million (up 22% year-over-year) and adjusted EBITDA of $41.9 million (up 27%), both surpassing prior expectations. Full-year 2025 revenue grew 28% to $614.8 million, with adjusted EBITDA reaching $142.5 million.
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Issued Strong 2026 Financial Guidance
The company initiated full-year 2026 guidance, anticipating revenue between $720 million and $735 million (17-20% growth) and adjusted EBITDA of $167 million to $172 million, maintaining a strong 23% margin.
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Authorized Major $300 Million Share Repurchase Program
Opera's Board of Directors approved a share repurchase program of up to $300 million over a two-year period. This program will include pro-rata repurchases from public shareholders and its majority shareholder, complementing the existing recurring dividend program.
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Continued Product and User Growth
Opera reported 284 million average monthly active users (MAUs) in Q4 2025, with annualized average revenue per user (ARPU) increasing 26%. The Opera GX gaming browser reached 34 million MAUs, and MiniPay wallet saw explosive growth to 13 million activated wallets.
Analysis
Opera Ltd. delivered robust financial results for Q4 and full-year 2025, surpassing its own guidance for both revenue and adjusted EBITDA. This strong performance is complemented by an optimistic outlook for 2026, projecting continued double-digit revenue growth and healthy adjusted EBITDA margins. The most significant announcement is the authorization of a $300 million share repurchase program over two years, which represents a substantial commitment to returning capital to shareholders and signals strong management confidence in the company's future cash generation and valuation. This program, alongside the existing dividend, indicates a shareholder-friendly capital allocation strategy. Investors should view this filing as a strong positive signal regarding the company's operational execution and financial health.
At the time of this filing, OPRA was trading at $14.34 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $11.71 to $21.06. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.