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

Rhea-AI Summary

Opera Limited (NASDAQ: OPRA) announced strong fourth quarter 2020 results, exceeding its revenue and adjusted EBITDA guidance. Year-over-year search and advertising revenue growth rates surpassed expectations due to increased PC user growth and enhanced monetization strategies. The company initially forecasted fourth quarter revenue between $45 million and $47 million, and adjusted EBITDA between $10 million and $12 million. Full results will be reported on February 25, 2021, highlighting a robust performance that bodes well for 2021 growth.

Positive

• Year-over-year search & advertising revenue growth rates exceeded fourth quarter expectations.
• Increased PC user growth contributing to strong monetization.
• Expected revenue exceeds initial guidance of $45-$47 million.

Negative

• None.

• Year-over-year search & advertising revenue growth rates exceeded fourth quarter expectations due to both PC user growth and stronger monetization
  
• Opera planning to report fourth quarter and full-year 2020 results on February 25th

OSLO, Norway, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Opera Limited (NASDAQ: OPRA), one of the world’s major browser developers and a leading internet consumer brand, announced today it expects fourth quarter 2020 results to exceed the top-end of both its revenue and adjusted EBITDA guidance ranges. Opera had initially guided to fourth quarter revenue of $45 to $47 million and adjusted EBITDA of $10 to $12 million.

“The fourth quarter was a strong end to 2020. We continued to exceed our expectations both on users and monetization, leading to a significant acceleration in our year-over-year search & advertising growth rates,” said Song Lin, Co-CEO. “Further, execution in our core business is expected to drive accelerating year-over-year growth rates in 2021 before factoring in any potential from our new initiatives.”

Opera plans to report its full fourth quarter and full-year 2020 results on February 25th, 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).

Investor Relations Contact:

Derrick Nueman
investor-relations@opera.com or (408) 596-3055

For media enquiries, please contact: press-team@opera.com

 

FAQ

What were Opera's fourth quarter 2020 financial expectations?

Opera expected fourth quarter revenue to be between $45 million and $47 million and adjusted EBITDA between $10 million and $12 million.

When will Opera report its fourth quarter 2020 results?

Opera plans to report its fourth quarter and full-year 2020 results on February 25, 2021.

How did Opera's revenue growth in Q4 2020 compare to expectations?

Opera's year-over-year search and advertising revenue growth rates exceeded fourth quarter expectations due to user growth and better monetization.