Opera first quarter revenue and adjusted EBITDA expected to exceed top-end of guidance ranges

Rhea-AI Summary

Opera Limited (NASDAQ: OPRA) announced on April 6, 2021, that it expects first-quarter 2021 results to surpass revenue and adjusted EBITDA guidance. The company initially predicted revenue between $46 and $48 million with breakeven adjusted EBITDA. CFO Frode Jacobsen noted a strong performance driven by over 30% year-over-year growth in search and advertising revenue. This momentum, alongside progress in new initiatives, enhances confidence in sustained growth for shareholders. Full results will be reported on April 27, 2021.

Positive

• Expected revenue exceeding guidance of $46 to $48 million.
• Adjusted EBITDA anticipated to be above breakeven.
• Core business performance showing over 30% year-over-year growth in search and advertising revenue.

Negative

• None.

OSLO, Norway, April 6, 2021 /PRNewswire/ -- Opera Limited (NASDAQ: OPRA), one of the world's major browser developers and a leading internet consumer brand, announced today it expects first quarter 2021 results to exceed both its revenue and adjusted EBITDA guidance ranges. Opera had initially guided to first quarter revenue of $46 to $48 million and breakeven adjusted EBITDA.

"The first quarter demonstrates our continued strong execution, with our core business performance exceeding our expectations thanks to combined search and advertising revenue growth rates in excess of 30% year-over-year", said Frode Jacobsen, CFO. "More broadly, the momentum in our core businesses, combined with the progress Opera made this quarter across multiple new initiatives, bolster our confidence around the sustained growth we can deliver for shareholders in 2021 and beyond."

Opera plans to report its full first quarter 2021 results on April 27, 2021.

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 the Company 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. Further information regarding risks and uncertainties faced by Opera is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F.

About Opera

Opera is a global web innovator. Opera's browsers, news products and fintech solutions are the trusted choice of more than 380 million users worldwide. Opera is headquartered in Oslo, Norway and listed on the NASDAQ stock exchange (OPRA).

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SOURCE Opera Limited