NASDAQ$OPRA
Opera Limited · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
Opera exceeded expectations in Q3 2025 with strong growth in both revenue and adjusted EBITDA.
Opera reported solid Q3 2025 results, with revenue and adjusted EBITDA both surpassing guidance. The company launched its new AI-powered Neon browser and raised its full-year revenue and EBITDA forecasts.
Headline financials
Revenue & EPS history
Opera · Revenue · Quarterly
$152M
Revenue by segment
Opera · $143M total across 2 segments · Q2 2025
- Advertising$92.9M—65.2%
- Search$49.6M—34.8%
Forward guidance
Opera raised its full-year 2025 guidance, reflecting confidence in continued revenue and profit momentum.
Tailwinds
- Raised full-year revenue guidance to $600–603M
- Raised full-year adjusted EBITDA guidance to $138–141M
- Q4 revenue guidance set at $162–165M
- Q4 adjusted EBITDA guidance set at $37.5–40.5M
- Growth outlook supported by AI-driven product innovation
Headwinds
- Operating expenses increased 29% YoY
- Share-based compensation surged 120% YoY
- Free cash flow margin declined to 59% of adj. EBITDA
- Net income margin declined to 12% from 15% YoY
- Sequential growth in Q4 faces tough YoY comparison
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 Q3 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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