Opera Ltd. Financials

OPRA

Source SEC Filings (10-K/10-Q) Updated Mar 27, 2026 Currency USD FYE March

This page shows Opera Ltd. (OPRA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 45/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Opera Ltd.'s revenue declined 17.4% year-over-year, from $480.6M to $396.8M. This contraction results in a growth score of 4/100.

Leverage

Opera Ltd. has elevated debt relative to equity (D/E of 312.83), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Opera Ltd.'s current ratio of 2.29 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Opera Ltd. converts 20.4% of revenue into free cash flow ($80.9M). This strong cash generation earns a score of 76/100.

Returns

100

Opera Ltd. earns a strong 851672.2% return on equity (ROE), meaning it generates $851672 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 8.6% the prior year.

Piotroski F-Score Weak

3/9

Opera Ltd. passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

0.54x

For every $1 of reported earnings, Opera Ltd. generates $0.54 in operating cash flow ($82.8M OCF vs $153.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$396.8M

YoY-17.4%

5Y CAGR+19.2%

Opera Ltd. generated $396.8M in revenue in fiscal year 2025. This represents a decrease of 17.4% from the prior year.

EBITDA

N/A

Net Income

$153.3M

YoY+89.8%

5Y CAGR-3.1%

Opera Ltd. reported $153.3M in net income in fiscal year 2025. This represents an increase of 89.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$80.9M

YoY-0.9%

5Y CAGR-2.3%

Opera Ltd. generated $80.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.9% from the prior year.

Cash & Debt

$126.8M

YoY+0.0%

5Y CAGR-1.1%

Opera Ltd. held $126.8M in cash against $5.6M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

90M

YoY+1.3%

5Y CAGR-17.1%

Opera Ltd. had 90M shares outstanding in fiscal year 2025. This represents an increase of 1.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

38.6%

YoY+21.8pp

5Y CAGR-69.9pp

Opera Ltd.'s net profit margin was 38.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 21.8 percentage points from the prior year.

Return on Equity

851672.2%

YoY+851663.6pp

5Y CAGR+851655.1pp

Opera Ltd.'s ROE was 851672.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 851663.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$1.9M

YoY-92.0%

5Y CAGR-5.5%

Opera Ltd. invested $1.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 92.0% from the prior year.

OPRA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$396.8M-17.4%	$480.6M+21.1%	$396.8M+19.9%	$331.0M+31.9%	$251.0M+52.1%	$165.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$356K-31.3%	$518K+45.5%	$356K+47.1%	$242K-9.0%	$266K-33.0%	$397K
Income Tax	$6.7M-62.0%	$17.6M+163.4%	$6.7M-24.2%	$8.8M+20446.5%	$43K-42.7%	$75K
Net Income	$153.3M+89.8%	$80.8M-47.3%	$153.3M+919.6%	$15.0M+134.2%	-$44.0M-124.5%	$179.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	$-0.37-215.6%	$0.32

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

OPRA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.1B0.0%	$1.1B+4.4%	$1.0B+4.8%	$964.7M-11.7%	$1.1B-1.5%	$1.1B
Current Assets	$231.9M0.0%	$231.9M+11.2%	$208.5M-38.7%	$340.2M-37.1%	$541.0M+194.5%	$183.7M
Cash & Equivalents	$126.8M0.0%	$126.8M+35.1%	$93.9M+79.1%	$52.4M-49.1%	$102.9M-23.3%	$134.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$429.7M0.0%	$429.7M0.0%	$429.9M+0.1%	$429.4M-0.2%	$430.4M+1.3%	$425.0M
Total Liabilities	$1.1B+814.0%	$115.5M+26.8%	$91.1M+19.1%	$76.5M-3.7%	$79.4M+30.8%	$60.7M
Current Liabilities	$101.1M0.0%	$101.1M+24.2%	$81.4M+26.6%	$64.3M-9.1%	$70.8M+56.2%	$45.3M
Long-Term Debt	$5.6M0.0%	$5.6M-16.9%	$6.8M+43.5%	$4.7M+145.4%	$1.9M-37.8%	$3.1M
Total Equity	$18K-100.0%	$940.1M+2.2%	$919.9M+3.6%	$888.2M-12.3%	$1.0B-3.4%	$1.0B
Retained Earnings	$536.6M0.0%	$536.6M+20.5%	$445.2M+62.9%	$273.3M+9.7%	$249.2M-12.1%	$283.3M

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Total Assets	$1.1B+4.4%	$1.0B+4.8%	$964.7M-11.7%	$1.1B-1.5%	$1.1B+4.6%	$1.1B+28.5%	$825.3M+29.7%	$636.3M
Current Assets	$231.9M+11.2%	$208.5M-38.7%	$340.2M-37.1%	$541.0M+194.5%	$183.7M-56.1%	$418.3M+75.7%	$238.1M+220.4%	$74.3M
Cash & Equivalents	$126.8M+35.1%	$93.9M+79.1%	$52.4M-49.1%	$102.9M-23.3%	$134.2M-3.8%	$139.5M-21.6%	$177.9M+435.6%	$33.2M
Inventory	N/A	N/A	N/A	N/A	N/A	$7.8M	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$429.7M0.0%	$429.9M+0.1%	$429.4M-0.2%	$430.4M+1.3%	$425.0M+0.8%	$421.6M0.0%	$421.6M0.0%	$421.6M
Total Liabilities	$115.5M+26.8%	$91.1M+19.1%	$76.5M-3.7%	$79.4M+30.8%	$60.7M-59.1%	$148.4M+197.8%	$49.8M-5.6%	$52.8M
Current Liabilities	$101.1M+24.2%	$81.4M+26.6%	$64.3M-9.1%	$70.8M+56.2%	$45.3M-64.8%	$128.6M+278.1%	$34.0M-7.7%	$36.9M
Long-Term Debt	$5.6M-16.9%	$6.8M+43.5%	$4.7M+145.4%	$1.9M-37.8%	$3.1M-58.1%	$7.4M	$0-100.0%	$4K
Total Equity	$940.1M+2.2%	$919.9M+3.6%	$888.2M-12.3%	$1.0B-3.4%	$1.0B+15.0%	$912.2M+17.6%	$775.5M+32.9%	$583.5M
Retained Earnings	$536.6M+20.5%	$445.2M+62.9%	$273.3M+9.7%	$249.2M-12.1%	$283.3M+184.7%	$99.5M+173.1%	$36.4M+578.9%	$5.4M

OPRA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$82.8M-21.2%	$105.0M+26.8%	$82.8M+46.1%	$56.7M+113.3%	$26.6M-71.5%	$93.3M
Capital Expenditures	$1.9M-92.0%	$23.3M+1146.3%	$1.9M-41.2%	$3.2M+200.7%	$1.1M-57.3%	$2.5M
Free Cash Flow	$80.9M-0.9%	$81.6M+0.9%	$80.9M+51.3%	$53.5M+109.7%	$25.5M-71.9%	$90.8M
Investing Cash Flow	$20.0M+173.8%	-$27.1M-235.6%	$20.0M-55.0%	$44.5M+189.4%	-$49.7M-1781.4%	$3.0M
Financing Cash Flow	-$59.8M-42.0%	-$42.1M+29.6%	-$59.8M+60.3%	-$150.6M-2153.1%	-$6.7M+93.4%	-$101.0M
Dividends Paid	$23.1M-38.3%	$37.4M+62.0%	$23.1M	$0	$0	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

OPRA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	38.6%+21.8pp	16.8%-21.8pp	38.6%+34.1pp	4.5%+22.1pp	-17.5%-126.1pp	108.5%
Return on Equity	851672.2%+851663.6pp	8.6%-8.1pp	16.7%+15.0pp	1.7%+6.0pp	-4.3%-21.4pp	17.1%
Return on Assets	14.5%+6.9pp	7.6%-7.5pp	15.2%+13.6pp	1.6%+5.6pp	-4.0%-20.2pp	16.2%
Current Ratio	2.290.0	2.29-0.3	2.56-2.7	5.29-2.4	7.64+3.6	4.05
Debt-to-Equity	312.83+312.8	0.010.0	0.010.0	0.010.0	0.000.0	0.00
FCF Margin	20.4%+3.4pp	17.0%-3.4pp	20.4%+4.2pp	16.2%+6.0pp	10.2%-44.9pp	55.0%

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.29-0.3	2.56-2.7	5.29-2.4	7.64+3.6	4.05+0.8	3.25-3.7	7.00+5.0	2.02
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.000.0	0.000.0	0.010.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Opera Ltd.'s annual revenue?

Opera Ltd. (OPRA) reported $396.8M in total revenue for fiscal year 2025. This represents a -17.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Opera Ltd.'s revenue growing?

Opera Ltd. (OPRA) revenue declined by 17.4% year-over-year, from $480.6M to $396.8M in fiscal year 2025.

Is Opera Ltd. profitable?

Yes, Opera Ltd. (OPRA) reported a net income of $153.3M in fiscal year 2025, with a net profit margin of 38.6%.

How much debt does Opera Ltd. have?

As of fiscal year 2025, Opera Ltd. (OPRA) had $126.8M in cash and equivalents against $5.6M in long-term debt.

What is Opera Ltd.'s net profit margin?

Opera Ltd. (OPRA) had a net profit margin of 38.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Opera Ltd.'s return on equity (ROE)?

Opera Ltd. (OPRA) has a return on equity of 851672.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Opera Ltd.'s free cash flow?

Opera Ltd. (OPRA) generated $80.9M in free cash flow during fiscal year 2025. This represents a -0.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Opera Ltd.'s operating cash flow?

Opera Ltd. (OPRA) generated $82.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Opera Ltd.'s total assets?

Opera Ltd. (OPRA) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Opera Ltd.'s capital expenditures?

Opera Ltd. (OPRA) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Opera Ltd. have outstanding?

Opera Ltd. (OPRA) had 90M shares outstanding as of fiscal year 2025.

What is Opera Ltd.'s current ratio?

Opera Ltd. (OPRA) had a current ratio of 2.29 as of fiscal year 2025, which is generally considered healthy.

What is Opera Ltd.'s debt-to-equity ratio?

Opera Ltd. (OPRA) had a debt-to-equity ratio of 312.83 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Opera Ltd.'s return on assets (ROA)?

Opera Ltd. (OPRA) had a return on assets of 14.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Opera Ltd.'s Piotroski F-Score?

Opera Ltd. (OPRA) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Opera Ltd.'s earnings high quality?

Opera Ltd. (OPRA) has an earnings quality ratio of 0.54x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Opera Ltd.?

Opera Ltd. (OPRA) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.