NASDAQ$OPRA
Opera Limited · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Opera Q2 2025: revenue up 30% to $143M, raises full-year guidance on advertising strength
Opera Limited reported second-quarter 2025 revenue of $143.0 million, up 30% year over year and above guidance, driven by 44% growth in advertising revenue to $92.9 million and 11% growth in search revenue to $49.6 million. Operating profit was $18.1 million (13% margin) versus $21.9 million (20% margin) in Q2 2024. Net income was $15.7 million and diluted EPS was $0.17; adjusted net income was $23.7 million and adjusted diluted EPS was $0.26. Adjusted EBITDA rose 21% to $32.1 million (22% margin). Opera had 289 million average MAUs. Management raised full-year 2025 revenue guidance to $585–597 million (+23% YoY at midpoint) and adjusted EBITDA to $136–140 million (23% margin), and guided Q3 revenue of $146–149 million.
- Q2 revenue $143.0M (+30% YoY), above guidance; advertising $92.9M (+44%), search $49.6M (+11%).
- Adjusted EBITDA $32.1M (22% margin); adjusted diluted EPS $0.26.
- Net income $15.7M; diluted EPS $0.17; adjusted net income $23.7M.
- 289M average MAUs; e-commerce partners remained fastest-growing advertising vertical.
- Raised FY revenue guidance to $585–597M and adjusted EBITDA to $136–140M.
Headline financials
Revenue & EPS history
Opera · Revenue · Quarterly
$143M
Revenue by segment
Opera · $143M total across 2 segments · Q2 2025
- Advertising$92.9M—65.2%
- Search$49.6M—34.8%
Forward guidance
Opera guided Q3 2025 revenue of $146–149M (+20% YoY) with adjusted EBITDA of $34–36M (24% margin). Full-year 2025 revenue is expected at $585–597M (+23% YoY) with adjusted EBITDA of $136–140M (23% margin).
Tailwinds
- Advertising momentum from e-commerce partners and higher-ARPU regional mix
- Second consecutive guidance raise reflects sustained growth trajectory
Headwinds
- Reported operating margin compressed to 13% from 20% on higher share-based compensation
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
+3.0%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+2.2%
Avg return
30 days after
55%
16 / 29 earnings
Positive
+26.0%
Q2 2024
Best reaction
-25.6%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +23.5% | +0.1% | — | |
| Q3 2025 | -3.7% | -7.1% | -12.2% | |
| Q2 2025 | -5.0% | -5.7% | +15.3% | |
| Q4 2024 | -2.1% | -5.4% | -11.9% | |
| Q3 2024 | +10.9% | +6.5% | +16.1% | |
| Q2 2024 | +26.0% | +21.0% | +13.4% | |
| Q1 2024 | -7.9% | -13.9% | -3.9% | |
| Q4 2023 | +21.2% | +10.3% | +35.9% | |
| Q3 2023 | +11.2% | +8.4% | +13.8% | |
| Q2 2023 | -16.1% | -1.2% | -14.2% | |
| Q1 2023 | +5.3% | -1.9% | +35.7% | |
| Q4 2022 | +23.7% | +23.1% | +37.6% | |
| Q3 2022 | +5.1% | +18.3% | +28.3% | |
| Q2 2022 | -1.8% | -5.3% | -7.3% | |
| Q1 2022 | +8.8% | +15.4% | +1.5% | |
| Q4 2021 | -11.6% | -18.1% | -25.4% | |
| Q3 2021 | -10.7% | -14.1% | -15.0% | |
| Q2 2021 | -5.8% | -5.4% | -0.2% | |
| Q1 2021 | +5.5% | +0.4% | +6.6% | |
| Q4 2020 | +4.2% | +7.7% | -10.2% | |
| Q3 2020 | -4.2% | -2.3% | -5.5% | |
| Q2 2020 | -25.6% | -11.5% | -15.6% | |
| Q1 2020 | -11.3% | -13.1% | +17.5% | |
| Q4 2019 | +13.7% | +13.3% | -22.4% | |
| Q3 2019 | +13.3% | +3.9% | -0.3% | |
| Q2 2019 | +12.2% | +10.5% | -12.1% | |
| Q1 2019 | -1.6% | +13.4% | +21.5% | |
| Q4 2018 | +4.4% | +6.0% | -19.4% | |
| Q3 2018 | +6.6% | +0.6% | -5.7% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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