Opera Announces Strong User Trajectory and Q3 Results at the Top End of Guidance

Desktop user growth accompanied gains in both query and advertising revenue during the third quarter.

Rhea-AI Summary

Opera (NASDAQ: OPRA) previewed third-quarter 2026 results, reporting revenue of $182.8 million at the top of its guidance range. Revenue rose 20% year over year against guidance of $181–183 million. Adjusted EBITDA, a non-IFRS earnings measure, was $43.2 million, exceeding the $41–43 million guidance range and representing a 24% margin. IFRS net income was $27.6 million.

Desktop monthly active users reached 100 million in October, up from 94 million in the second quarter of 2026 and 16% above October 2025. Desktop is Opera's highest-revenue-per-user platform. Query revenue grew 17% year over year, while advertising revenue increased 22%. Full third-quarter results will be released before the market opens on November 17, 2026, with a conference call that day. Opera plans to provide final fourth-quarter guidance with its full reporting.

7 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

How the balance works

Positive

• Moderate pointQ3 revenue of $182.8 million rose 20% year over year, near the top of $181–183 million guidance.
• Moderate pointAdjusted EBITDA of $43.2 million exceeded $41–43 million guidance, with a 24% margin in Q3.
• Moderate pointDesktop monthly active users reached 100 million in October, versus 94 million in Q2 2026.
• Minor pointIFRS net income was $27.6 million for Q3 2026.
• Minor pointDesktop monthly active users grew 16% compared with October 2025.

2 minor points

• Minor pointQuery revenue grew 17% year over year in Q3 2026.
• Minor pointAdvertising revenue grew 22% year over year in Q3 2026.

Negative

• None.

Key Figures

Desktop MAUs: 100 million MAUs Desktop MAU growth: 16% Revenue: $182.8 million +5 more

Desktop MAUs

100 million MAUs

October milestone; new all-time high

Desktop MAU growth

16%

Compared with October 2025

Revenue

$182.8 million

Q3 2026; at the top end of prior $181–183 million guidance

Revenue growth

20%

Year over year in Q3 2026

Adjusted EBITDA

$43.2 million

Q3 2026; above the high end of prior $41–43 million guidance

Adjusted EBITDA margin

24%

Q3 2026

Query revenue growth

17%

Year over year in Q3 2026

Advertising revenue growth

22%

Year over year in Q3 2026

Historical Context

1 past event · Latest: Aug 19

1 event

1. Aug 19

   Q2 earnings

   24h Move

   -7.1%

   Q2 revenue and adjusted EBITDA beat guidance, with full-year outlook raised.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

maus, arpu, ifrs, non-ifrs measures

4 terms

maus technical

"100 million MAUs in October"

Monthly active users (often abbreviated MAUs) counts the number of distinct people who use a digital product or service at least once during a 30-day period. Investors use it like a foot-traffic counter for an online business: rising MAUs suggest growing reach and potential sales, while falling MAUs can signal weakening engagement and future revenue risk. It helps gauge how well a company attracts and retains real, repeat customers over time.

arpu financial

"Opera's highest-ARPU platform"

ARPU, or Average Revenue Per User, measures how much money a company earns, on average, from each of its customers over a set period. It helps investors understand how effectively a business is generating income from its customer base, similar to calculating how much each customer spends at a store. Higher ARPU often indicates stronger sales per customer and better revenue performance.

ifrs financial

"in accordance with IFRS Accounting Standards"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

non-ifrs measures financial

"we also use certain non-IFRS measures"

Non-IFRS measures are financial figures that companies create on their own to show aspects of their performance, beyond what standard accounting rules require. They can help investors better understand how a company is really doing by highlighting information that might be more relevant or easier to interpret, much like a sports coach emphasizes certain stats to showcase team strengths not captured by official scores.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OSLO, Norway, Nov. 3, 2026 /PRNewswire/ -- Opera Limited (NASDAQ: OPRA), a leading global browser and AI agent company, today announced a historic user base milestone and a preview of its Q3 2026 financial results.

Opera's desktop user base reached the milestone of 100 million MAUs in October. This marks a new all-time high, up from 94 million MAUs in the second quarter of 2026 and representing 16% growth compared to October of 2025. The growth of Opera's highest-ARPU platform follows a series of innovative product releases in line with Opera's strategy to be the premier browser for users seeking a compelling alternative to the pre-installed default browsers.

"As a leading browser company, we are in an increasingly strategic position as new AI tools and workstreams are adopted by users," said Song Lin, CEO. "We are focused on making AI widely accessible through local browser capabilities and native integrations with users' preferred tools, and we have an exciting roadmap ahead. We look forward to sharing more details on our upcoming earnings call."

In combination with healthy user engagement dynamics, Opera generated strong financial results for the third quarter. Revenue was $182.8 million, representing 20% growth year-over-year and landing at the top of its previously issued $181–183 million guidance range. Adjusted EBITDA was $43.2 million, representing a 24% margin and exceeding the high end of its previously issued $41–43 million guidance range. These results reflect Opera's ability to sustain durable growth in a digital advertising industry that continues to evolve.

"Our strong third quarter results were fueled by both query and advertising revenue, growing 17% and 22% year-over-year respectively," said Frode Jacobsen, CFO. "Given our later-than-usual reporting date we wanted to share these Q3 highlights now. Our reporting timeline allows us to carefully assess trends and ensure that we approach our final Q4 guidance with our typical prudence as we close out a highly successful year."

Opera will release full third quarter 2026 financial results before the market opens on Tuesday, November 17, 2026. A conference call to discuss the results will be held the same day at 8:00 a.m. Eastern Time.

Non IFRS Financial Measures

We report our financial results in accordance with IFRS Accounting Standards; however, we also use certain non-IFRS measures, such as adjusted EBITDA, to evaluate performance. We believe adjusted EBITDA provides meaningful supplemental information regarding our financial performance by excluding certain items that may not be indicative of recurring core business operating results. For the third quarter of 2026, Adjusted EBITDA was $43.2 million, reconciled from IFRS net income of $27.6 million by adding income tax expense of $5.5 million, depreciation and amortization of $5.7 million, share-based compensation expense of $6.9 million, share of net loss of equity-accounted investees of $0.5 million, and net finance expense of $0.4 million, and deducting an impairment reversal on non-financial assets of $3.3 million and other operating income of $0.1 million.

Forward-Looking Statements

This release contains forward-looking statements, including about future financial and operating results, based on management's current expectations and assumptions. Actual results may differ materially due to risks and uncertainties, including those described in Opera's SEC filings and annual reports on Form 20-F. These statements speak only as of today, and Opera undertakes no obligation to update them except as required by law.

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.

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SOURCE Opera Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Opera's Q3 2026 results compare with guidance?

Opera reported $182.8 million in revenue against guidance of $181–183 million, while adjusted EBITDA of $43.2 million exceeded its $41–43 million guidance range. Revenue grew 20% year over year, and adjusted EBITDA represented a 24% margin.

How many desktop users did Opera reach in October 2026?

Opera reached 100 million desktop monthly active users in October 2026, an all-time high. That compares with 94 million in the second quarter of 2026 and represents 16% growth from October 2025.