Opera (NASDAQ: OPRA) projects 26%+ 2025 revenue growth and higher EBITDA

Rhea-AI Filing Summary

Opera Limited expects to outperform its earlier guidance for both revenue and adjusted EBITDA in the fourth quarter of 2025. The company now sees Q4 revenue exceeding $170 million, above its prior range of $162–165 million, and full-year 2025 revenue topping $608 million, more than 26% higher than 2024, or about $130 million in absolute growth.

Adjusted EBITDA is also projected to come in above the high end of the earlier Q4 guidance range of $37.5–40.5 million, with full-year adjusted EBITDA expected to exceed $141 million. Management cites rapid expansion in high-ARPU Western users, growing e-commerce opportunities, and strong monetization through search and partner promotions as key drivers. Opera will release full Q4 2025 results and host a conference call on February 26, 2026.

Positive

• Stronger-than-guided 2025 performance: Opera expects Q4 2025 revenue above $170 million versus prior $162–165 million guidance, and full-year revenue above $608 million with over 26% growth and adjusted EBITDA projected to exceed $141 million, indicating both solid expansion and profitability.

Negative

• None.

Insights

Equity research analyst

Opera pre-announces Q4 and full-year 2025 results above prior guidance, with strong top-line growth and profitability.

Opera indicates that fourth quarter 2025 revenue will exceed $170 million, above its earlier $162–165 million guidance range. Full-year 2025 revenue is expected to surpass $608 million, growing by more than 26% versus 2024, or roughly $130 million in absolute terms.

The company also expects adjusted EBITDA to beat the high end of its Q4 guidance range of $37.5–40.5 million, with full-year adjusted EBITDA projected above $141 million. Management attributes this to growth in high-ARPU Western users, expanding e-commerce, and monetization through search and partner promotions.

These preliminary figures suggest stronger-than-planned execution in 2025. The scheduled release of full fourth quarter 2025 financial results and the conference call on February 26, 2026 will provide detailed data on margins, cash generation and the sustainability of these trends.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2026

Commission File Number: 001-38588

OPERA LIMITED

Vitaminveien 4,

0485 Oslo, Norway

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press release dated February 2, 2026, titled “Opera’s fourth quarter revenue and adjusted EBITDA expected to exceed guidance; full-year revenue growth surpasses 26%”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Opera Limited
Date: February 2, 2026	By:	/s/ Lin Song
	Name:	Lin Song
	Title:	Chief Executive Officer

Exhibit 99.1

Opera’s fourth quarter revenue and adjusted EBITDA expected to exceed guidance; full-year revenue growth surpasses 26%

OSLO, Norway, February 2, 2026 — Opera Limited (NASDAQ: OPRA), a leading global browser and AI agent company, today announced that it expects fourth quarter 2025 results to come in above its previously issued guidance ranges for both revenue and adjusted EBITDA.

The company expects fourth-quarter revenue to exceed $170 million, compared to prior guidance of $162 – 165 million. As a result, full-year revenue is expected to be above $608 million, growing by over 26%, or approximately $130 million, compared to 2024.

Opera also expects adjusted EBITDA to surpass the high end of its prior guidance range of $37.5 – 40.5 million, with full-year adjusted EBITDA projected to exceed $141 million.

“The Opera browser has always been tailored for the most demanding users. This position is already benefiting us as an increasing number of people consider what browser is best suited to be their gateway and point of integration across web content, services and the AI powered tools that they increasingly rely on,” said Lin Song, CEO. “Our high-ARPU Western user base increased by approximately 2 million users sequentially from the third to the fourth quarter, providing a powerful tailwind for our monetization engines,” Mr. Song concluded.

“Over the course of 2025, we were able to raise growth expectations with each passing quarter, and we are very pleased to yet again exceed our expected financial results. Opera entered the fourth quarter at an unprecedented scale, and continued to benefit from both our rapidly expanding e-commerce opportunities and our ability to serve users’ queries through both search and other partner promotions,” said Frode Jacobsen, CFO. “As we enter 2026, we are excited about our potential to drive growth through both commercial and product opportunities.”

The company will announce its fourth quarter 2025 financial results before the market opens on Thursday, February 26, 2026. The earnings release will be available on our investor relations website at investor.opera.com.

Management will host a conference call to discuss the fourth quarter 2025 financial results on the same day at 8:00 a.m. ET. Listeners may access the call by dialing the following numbers:

United States: +1 800-267-6316

Norway: +47 80-01-3780

International: +1 203-518-9783

Confirmation Code: OPRAQ425

A live webcast of the conference call can be accessed at investor.opera.com

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. We define adjusted EBITDA as net income excluding (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. We have not reconciled our expectation for adjusted EBITDA to net income as the most directly comparable IFRS measure because the valuation of our investment in OPay and the calculation of tax accruals cannot be reasonably predicted at this time without unreasonable effort. These items could have a significant impact on the calculation of net income under IFRS.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements, including statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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

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out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Opera is included in the Company’s filings with the SEC, including its annual reports on Form 20-F.

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

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FAQ

How is Opera (OPRA) expected to perform in Q4 2025 versus prior guidance?

Opera expects its fourth quarter 2025 revenue to exceed $170 million, above the earlier guidance range of $162–165 million. It also anticipates adjusted EBITDA will surpass the high end of its prior Q4 guidance of $37.5–40.5 million, signaling stronger-than-planned execution.

What full-year 2025 revenue growth is Opera (OPRA) projecting?

Opera projects full-year 2025 revenue above $608 million, representing growth of more than 26% compared with 2024. In dollar terms, this is approximately $130 million of added revenue year over year, reflecting meaningful expansion of its browser and related monetization activities.

What adjusted EBITDA does Opera (OPRA) expect for full-year 2025?

Opera expects full-year 2025 adjusted EBITDA to exceed $141 million. It also anticipates fourth quarter adjusted EBITDA will be above the high end of its earlier $37.5–40.5 million Q4 guidance range, pointing to improved profitability alongside strong revenue growth during 2025.

What business drivers are supporting Opera’s (OPRA) better-than-guided results?

Management highlights growth in its high-ARPU Western user base, which increased by about 2 million sequentially in Q4 2025. Opera also cites rapidly expanding e-commerce opportunities and monetization from search and partner promotions as important contributors to its expected revenue and adjusted EBITDA outperformance.

When will Opera (OPRA) release full Q4 2025 financial results?

Opera plans to announce its full fourth quarter 2025 financial results before the market opens on February 26, 2026. On the same day, management will host an earnings conference call at 8:00 a.m. ET, with access details and a webcast available via its investor relations website.

How does Opera (OPRA) define adjusted EBITDA in its reporting?

Opera defines adjusted EBITDA as net income excluding discontinued operations, income tax expense, net finance income or expense, gains or losses on certain long-term investments, non-recurring expenses, impairment of non-financial assets, depreciation and amortization, share-based compensation expenses, and other operating income, providing a view of core operating performance.