Exhibit 99.1

 

Opera Reports Second Quarter 2026 Results Beyond the High End of Guidance Ranges

 

Revenue increased 25% year-over-year to $178.1 million, exceeding the guidance range

 

Adjusted EBITDA was $42.4 million, representing a 24% margin and 32% year-over-year growth, also exceeding the guidance range

 

Third quarter 2026 revenue guidance of $181–183 million with adjusted EBITDA margin of 23% at the midpoints

 

Raised full-year guidance to $734–742 million revenue with adjusted EBITDA of $172–175 million (24% margin)

 

OSLO, Norway, August 19, 2026 — Opera Limited (NASDAQ: OPRA), a leading global browser and AI agent company, today announced financial results for the quarter ended June 30, 2026.

“Second quarter revenue and Adjusted EBITDA both came in above the top end of our guidance, with revenue growth accelerating to 25% year-over-year, reaching $178.1 million, and Adjusted EBITDA reaching $42.4 million. Notably, with healthy growth across both advertising and query revenue streams, our business continues to compound organically and capital-efficiently,” said Lin Song, CEO.

“As AI fundamentally reshapes how people search, work and interact online, Opera’s position as an independent, tech-enabling platform is more valuable than ever. Through our open ecosystem strategy, highlighted by our new Browser Connector for leading AI services like Claude and ChatGPT, we are facilitating user choice while converting elevated browser utility into immediate commercial momentum. The growth of time spent and browser engagement supports our healthy annualized ARPU growth of 25% to $2.46 alongside strong expansion across core products like Opera GX and MiniPay,” continued Mr. Song.

Second Quarter 2026 Financial Highlights

 

		Three Months Ended  June 30,												Six Months Ended  June 30,
In thousands, except percentages and per share amounts		2025				2026				% Change				2025				2026				% Change
Revenue		$	142,962			$	178,068				25	%		$	285,678			$	353,839				24	%
Operating profit		$	18,109			$	25,909				43	%		$	39,184			$	55,672				42	%
Operating margin			13	%			15	%							14	%			16	%
Net income		$	15,676			$	27,550				76	%		$	33,959			$	52,336				54	%
Net income margin			11	%			15	%							12	%			15	%
Adjusted net income (1)		$	23,723			$	30,022				27	%		$	47,878			$	61,198				28	%
Adjusted net income margin			17	%			17	%							17	%			17	%
Adjusted EBITDA (1)		$	32,094			$	42,429				32	%		$	64,352			$	84,427				31	%
Adjusted EBITDA margin			22	%			24	%							23	%			24	%
Diluted earnings per share		$	0.17			$	0.30				74	%		$	0.38			$	0.57				52	%
Adjusted diluted earnings per share (1)		$	0.26			$	0.33				25	%		$	0.53			$	0.67				26	%
Net cash flow from operating activities		$	33,119			$	22,192				(33	)%		$	49,063			$	64,337				31	%
As percentage of adjusted EBITDA			103	%			52	%							76	%			76	%
Free cash flow from operations (1)		$	29,073			$	16,912				(42	)%		$	41,099			$	52,417				28	%
As percentage of adjusted EBITDA			91	%			40	%							64	%			62	%

_______________

Second Quarter 2026 and Recent Business Highlights

Second Quarter 2026 Financial Results

All comparisons in this section are relative to the second quarter of 2025 unless otherwise stated.

Revenue increased 25% to $178.1 million.

Operating expenses increased 22% to $152.2 million.

Operating profit was $25.9 million, representing a 15% margin, compared to an operating profit of $18.1 million and a margin of 13% in the second quarter of 2025.

Fair value gain on long-term investments was $6.3 million, driven by the passage of time affecting the present value of probability-weighted expected returns.

Net finance income was $0.6 million, reflecting net interest income of $0.8 million, partially offset by foreign exchange loss of $0.2 million.

Income tax expense was $6.1 million, corresponding to an effective tax rate of 18%, and representing 14% of adjusted EBITDA in the quarter and 13% of adjusted EBITDA year-to-date. This compares to a full-year ratio of income tax expense to adjusted EBITDA of 12% in 2025.

Net income was $27.6 million, representing a 15% margin, compared to net income of $15.7 million and a margin of 11% in the second quarter of 2025.

Adjusted net income was $30.0 million, representing a 17% margin and an increase of 27% relative to $23.7 million and a 17% margin in the second quarter of 2025.

Adjusted EBITDA was $42.4 million, representing a 24% margin and an increase of 32% relative to $32.1 million and a 22% margin in the second quarter of 2025.

Diluted earnings per share was $0.30, whereas adjusted diluted earnings per share was $0.33.

Net cash flow from operating activities was $22.2 million, or 52% of adjusted EBITDA in the quarter and 76% of adjusted EBITDA year-to-date. Free cash flow from operations was $16.9 million, or 40% of adjusted EBITDA in the quarter and 62% of adjusted EBITDA year-to-date.

Business Outlook

 

		Third Quarter 2026 Guidance			Full-Year 2026 Guidance
Revenue		$181–183 million			$734–742 million
Year-over-year revenue growth		19–20	%		19–21	%
Adjusted EBITDA (1)		$41–43 million			$172–175 million
Adjusted EBITDA margin (2)		23	%		24	%

_______________

“Our second quarter outperformance is incorporated into a further raised full-year outlook that now includes 20% top-line growth at the midpoint. While our second-half trajectory reflects the strong underlying momentum of our business, our updated guidance maintains our disciplined and prudent approach toward guiding around year-end seasonality. We enter the third quarter with solid commercial velocity, driven by the expanding reach and engagement of our platform,” said Frode Jacobsen, CFO.

“Our updated outlook highlights the structural operating leverage inherent in our business model, driving an expected 25–40 basis point expansion in Adjusted EBITDA margin over 2025. This ongoing efficiency gives us full flexibility to fund our product and marketing initiatives while continuing to return capital to our shareholders,” continued Mr. Jacobsen.

Conference Call and Webcast Information

Opera’s management will host a conference call to discuss the second quarter 2026 financial results at 8:00 a.m. ET today. The live webcast of the conference call can be accessed at our investor relations website at investor.opera.com, along with the earnings press release and financial tables. Following the call, a replay will be available at the same website.

We also provide announcements on our investor relations website at investor.opera.com regarding our financial performance and other matters, including SEC filings, press releases, slide presentations, business blog posts and information on corporate governance.

Non-IFRS Financial Measures

In addition to financial measures presented in accordance with IFRS Accounting Standards, we use the non-IFRS performance measures adjusted net income, adjusted EBITDA, adjusted diluted earnings per share, as well as the non-IFRS liquidity measure free cash flow from operations, to manage our business, evaluate performance, support planning and decision-making, and allocate resources. The non-IFRS performance measures are intended to provide supplemental information by excluding items that we believe are not representative of core business operating performance. While free cash flow from operations does not represent residual cash available for discretionary uses, we believe that it provides useful supplemental information regarding our ability to generate cash from ongoing operations to fund investments, including acquisitions, and to support capital allocation decisions.

Adjusted net income is defined as net income adjusted to exclude (i) profit (loss) from discontinued operations, (ii) gain (loss) on investments in unconsolidated entities, (iii) non-recurring expenses, (iv) impairment of non-financial assets, (v) amortization of acquired intangible assets, (vi) share-based compensation expenses, and (vii) the income tax effect of these adjustments. Adjusted net income margin is calculated as adjusted net income divided by revenue. Adjusted diluted earnings per share is calculated as adjusted net income divided by the diluted weighted average number of shares outstanding.

Adjusted EBITDA is defined as net income adjusted to exclude (i) profit (loss) from discontinued operations, (ii) income tax expense, (iii) net finance income (expense), (iv) gain (loss) on long-term investments in unconsolidated entities, (v) non-recurring expenses,

(vi) impairment of non-financial assets, (vii) depreciation and amortization, (viii) share-based compensation expenses, and (ix) other operating income. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by revenue.

Free cash flow from operations is defined as net cash flows from (used in) operating activities less (i) purchases of fixed and intangible assets, (ii) development expenditure and (iii) payment of lease liabilities.

We believe these non-IFRS financial measures are useful to investors because they facilitate period-to-period comparisons of operating performance and are consistent with how management evaluates the business. These measures should not be considered in isolation or as substitutes for, or superior to, the financial information prepared in accordance with IFRS Accounting Standards. Our definitions of adjusted net income, adjusted EBITDA, adjusted diluted earnings per share and free cash flow from operations may differ from similarly-titled measures used by other companies. In addition, these measures may be limited in their usefulness because they do not present the full economic effects of certain items of income, expenses and cash flows. We address the limitations of these non-IFRS financial measures by providing reconciliations from the most closely comparable IFRS financial measures in the section titled “Reconciliations of Non-IFRS Financial Measures” included at the end of this earnings press release. Investors are encouraged to review these reconciliations and to consider non-IFRS financial measures together with our IFRS results.

 

Forward-Looking Statements

 

This press release contains statements of a forward-looking nature. These statements include, but are not limited to, statements relating to our expectations regarding our business, strategy, products, services, outlook and guidance. Forward-looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements.

 

Important factors that could cause actual results to differ materially include, among others: (i) our ability to attract, retain, and engage users and to increase ARPU; (ii) changes in macroeconomic conditions, including inflationary pressures, interest rates, consumer and advertiser spending trends, and the effects of higher energy prices and market volatility; (iii) our ability to maintain and improve monetization from query and revenue-sharing arrangements, including dependence on major partners and changes in their commercial terms, policies, algorithms, or distribution mechanics; (iv) changes by platform providers (including mobile operating systems, app stores, and device manufacturers) that could affect distribution, product functionality, data access, attribution, or monetization; (v) competition in browsers, AI-enabled user experiences, digital advertising, and consumer internet products; (vi) the successful development, deployment, adoption, and monetization of new products and features, including AI initiatives, and the costs and risks associated with them; (vii) privacy, data protection, consumer protection, competition/antitrust, online safety, and other laws and regulations (including changes in interpretation, enforcement, or compliance obligations) and related litigation or regulatory inquiries; (viii) security incidents, service disruptions, outages, and failures of our or third parties’ systems; (ix) our ability to manage operational, technical, and infrastructure costs, including hosting and distribution costs, and to scale effectively; (x) foreign currency exchange rate fluctuations and other market volatility; (xi) geopolitical events, including armed conflicts, sanctions, trade or shipping disruptions, or other instability in the Middle East and other regions, and their effects on energy prices, inflation, financial markets, supply chains, and broader economic conditions; (xii) our ability to attract and retain key personnel; and (xiii) other risks and uncertainties described under “Risk Factors” in our most recent Annual Report on Form 20-F and in our other filings and submissions with the U.S. Securities and Exchange Commission.

All information provided in this press release is as of the date hereof and is based on assumptions that the Company believes to be reasonable as of this date, and it undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About Opera

Opera is a user-centric and innovative software company focused on enabling the best possible internet browsing experience across devices. Hundreds of millions worldwide use Opera’s mobile and desktop browsers for their speed, security, and unique features, enhanced with integrated AI that enables users to navigate and interact with the web in new transformative ways. Founded in 1995 and headquartered in Oslo, Norway, Opera is listed on the Nasdaq stock exchange under the ticker symbol “OPRA”. Download Opera products from opera.com and learn more about Opera at investor.opera.com.

Contacts

Investor relations:

Matthew Wolfson

investor-relations@opera.com

Media:

press-team@opera.com

Opera Limited

Consolidated Statement of Operations

(In thousands, except per share amounts, unaudited)

 

		Three Months Ended  June 30,								Six Months Ended  June 30,
		2025				2026				2025				2026
Revenue		$	142,962			$	178,068			$	285,678			$	353,839
Other operating income			18				44				1				90
Operating expenses:
Technology and platform fees			(2,290	)			(2,517	)			(4,527	)			(4,940	)
Content cost			(1,517	)			(1,814	)			(2,439	)			(3,292	)
Cost of inventory sold			(47,055	)			(63,159	)			(94,588	)			(124,013	)
Personnel expenses excluding share-based compensation			(18,657	)			(23,068	)			(36,225	)			(44,614	)
Share-based compensation expenses			(8,764	)			(7,835	)			(14,764	)			(14,242	)
Marketing and distribution expenses			(33,994	)			(36,181	)			(68,198	)			(74,698	)
Credit loss expense			166				116				6				(324	)
Depreciation and amortization			(4,634	)			(5,431	)			(9,067	)			(10,636	)
Impairment of non-financial assets			(605	)			(3,298	)			(1,338	)			(3,967	)
Other operating expenses			(7,521	)			(9,015	)			(15,354	)			(17,530	)
Total operating expenses			(124,870	)			(152,203	)			(246,496	)			(298,257	)
Operating profit			18,109				25,909				39,184				55,672
Share of net income (loss) of equity-accounted investees			(8	)			872				(15	)			853
Fair value gain on long-term investments			—				6,300				—				6,300
Net finance income (expense):
Finance income			894				885				1,572				1,709
Finance expense			(223	)			(109	)			(343	)			(225	)
Net foreign exchange gain (loss)			(1,009	)			(168	)			(1,845	)			(734	)
Net finance income (expense)			(338	)			607				(615	)			750
Income before income taxes			17,763				33,689				38,553				63,575
Income tax expense			(2,087	)			(6,139	)			(4,595	)			(11,239	)
Net income attributable to Opera shareholders		$	15,676			$	27,550			$	33,959			$	52,336
Earnings per share:
Basic		$	0.18			$	0.31			$	0.38			$	0.58
Diluted		$	0.17			$	0.30			$	0.38			$	0.57
Weighted-average number of shares outstanding:
Basic			89,505				89,235				89,495				90,490
Diluted			90,316				91,076				90,305				91,466

 

 

Opera Limited

Consolidated Statement of Comprehensive Income

(In thousands, unaudited)

 

		Three Months Ended  June 30,								Six Months Ended  June 30,
		2025				2026				2025				2026
Net income		$	15,676			$	27,550			$	33,959			$	52,336
Other comprehensive income (loss):
Items that may be reclassified to the Statement of Operations:
Exchange differences on translation of foreign operations			1,960				32				3,113				173
Other comprehensive income (loss)			1,960				32				3,113				173
Total comprehensive income attributable to Opera shareholders		$	17,636			$	27,582			$	37,072			$	52,509

 

Opera Limited

Consolidated Statement of Financial Position

(In thousands, unaudited)

 

		As of December 31,				As of June 30,
		2025				2026
Assets:
Property and equipment		$	32,744			$	32,114
Goodwill			430,323				430,204
Intangible assets			98,898				108,535
Investment in OPay			294,600				300,900
Equity-accounted investments			4,016				6,119
Other non-current investments and financial assets			1,625				1,717
Deferred tax assets			1,585				1,575
Total non-current assets			863,792				881,163
Trade receivables			112,593				122,196
Other current receivables			7,033				6,904
Cash and cash equivalents			155,466				145,214
Other current assets			4,367				6,660
Total current assets			279,459				280,974
Total assets		$	1,143,251			$	1,162,138
Equity:
Share capital		$	18			$	18
Additional paid-in capital			576,046				540,168
Treasury shares			(238,815	)			(266,897	)
Retained earnings			674,735				741,189
Foreign currency translation reserve			(1,268	)			(1,095	)
Total equity attributable to Opera shareholders			1,010,716				1,013,383
Liabilities:
Non-current lease liabilities			4,544				3,238
Deferred tax liabilities			9,212				8,304
Other non-current liabilities			10				1
Total non-current liabilities			13,766				11,543
Trade and other payables			89,520				92,253
Current lease liabilities			3,866				4,764
Income tax payable			6,610				8,072
Deferred revenue			4,499				13,301
Other current liabilities			14,273				18,822
Total current liabilities			118,768				137,212
Total liabilities			132,535				148,755
Total equity and liabilities		$	1,143,251			$	1,162,138

 

Opera Limited

Consolidated Statement of Changes in Equity

(In thousands, except number of shares, unaudited)

 

For the six months ended June 30, 2025:

 

		Number of shares outstanding				Share capital				Additional paid-in capital				Treasury shares				Retained earnings				Foreign currency translation reserve				Total equity attributable to Opera shareholders
As of January 1, 2025			88,480,154			$	18			$	647,212			$	(238,815	)		$	536,623			$	(4,938	)		$	940,100
Net income			—				—				—				—				33,959				—				33,959
Other comprehensive income			—				—				—				—				—				3,113				3,113
Cost of equity awards, net of tax			—				—				—				—				13,984				—				13,984
Issuance of shares upon exercise of equity awards			1,033,137				—				—				—				—				—				—
Dividends			—				—				(35,395	)			—				—				—				(35,395	)
As of June 30, 2025			89,513,291			$	18			$	611,818			$	(238,815	)		$	584,566			$	(1,825	)		$	955,761

 

For the six months ended June 30, 2026:

 

		Number of shares outstanding				Share capital				Additional paid-in capital				Treasury shares				Retained earnings				Foreign currency translation reserve				Total equity attributable to Opera shareholders
As of January 1, 2026			89,648,056			$	18			$	576,046			$	(238,815	)		$	674,735			$	(1,268	)		$	1,010,716
Net income			—				—				—				—				52,336				—				52,336
Other comprehensive income			—				—				—				—				—				173				173
Cost of equity awards, net of tax			—				—				—				—				14,118				—				14,118
Issuance of shares upon exercise of equity awards			1,045,522				—				—				—				—				—				—
Share repurchases (1)			(1,776,194	)			—				—				(28,083	)			—				—				(28,083	)
Dividends			—				—				(35,878	)			—				—				—				(35,878	)
As of June 30, 2026			88,917,384			$	18			$	540,168			$	(266,897	)		$	741,189			$	(1,095	)		$	1,013,383

_______________

 

Opera Limited

Consolidated Statement of Cash Flows

(In thousands, unaudited)

 

		Three Months Ended  June 30,								Six Months Ended  June 30,
		2025				2026				2025				2026
Cash flows from operating activities:
Income before income taxes		$	17,763			$	33,689			$	38,553			$	63,575
Adjustments to reconcile income before income taxes to net cash flow from operating activities:
Net finance (income) expense			338				(607	)			615				(750	)
Fair value gain on long-term investments			—				(6,300	)			—				(6,300	)
Share of net (income) loss of equity-accounted investees			8				(872	)			15				(853	)
Impairment of non-financial assets			605				3,298				1,338				3,967
Depreciation and amortization			4,634				5,431				9,067				10,636
Cost of equity awards			8,259				6,916				14,020				12,949
Other adjustments			(374	)			(720	)			(945	)			(1,924	)
Changes in working capital:
Trade and other receivables			5,311				(14,415	)			(5,723	)			(8,892	)
Other current assets			182				(177	)			619				(2,462	)
Trade and other payables			8,630				2,140				1,937				2,483
Deferred revenue			(226	)			113				(1,276	)			(1,789	)
Other liabilities			(6,552	)			822				(3,411	)			3,535
Income taxes paid			(5,460	)			(7,125	)			(5,747	)			(9,839	)
Net cash flow from operating activities			33,119				22,192				49,063				64,337
Cash flows from investing activities:
Purchase of equipment			(389	)			(953	)			(985	)			(3,419	)
Development expenditure			(2,476	)			(2,990	)			(4,707	)			(5,872	)
Investment in an associate			—				—				(1,250	)			(1,250	)
Interest received			894				885				1,572				1,709
Net cash flow used in investing activities			(1,971	)			(3,059	)			(5,370	)			(8,832	)
Cash flows from financing activities:
Share repurchases			—				(14,233	)			—				(27,078	)
Dividends paid			—				—				(35,395	)			(35,878	)
Payment of lease liabilities			(1,181	)			(1,336	)			(2,272	)			(2,629	)
Interest paid			(189	)			(109	)			(309	)			(225	)
Net cash flow used in financing activities			(1,370	)			(15,678	)			(37,976	)			(65,810	)
Net change in cash and cash equivalents			29,777				3,454				5,717				(10,306	)
Cash and cash equivalents at beginning of period			103,546				141,903				126,797				155,466
Effect of exchange rate changes on cash and cash equivalents			500				(143	)			1,308				54
Cash and cash equivalents at end of period		$	133,823			$	145,214			$	133,823			$	145,214