The beat-and-raise quarter with accelerating organic growth and margin expansion supports a bullish near-to-medium-term outlook. Watch for Q3 results and continued momentum in advertising and query revenue; the $300M buyback program provides downside support. The raised guidance provides a strong narrative for sustained upward earnings revisions.
Price Chart
Executive Summary
Opera reported Q2 2026 revenue of $178.1M (+25% YoY), above guidance, with Adjusted EBITDA of $42.4M (+32% YoY, 24% margin). The company raised full-year 2026 revenue guidance to $734-742M and Adjusted EBITDA to $172-175M, implying ~20% top-line growth at the midpoint. Net income rose 76% to $27.6M.
Key Facts
- Q2 2026 revenue $178.1M, up 25% YoY, above guidance range
- Adjusted EBITDA $42.4M, up 32% YoY, 24% margin, above guidance
- Advertising revenue $115.4M (+27% YoY); Query revenue $62.1M (+21% YoY)
- Annualized ARPU $2.46, up 25% YoY
- Full-year 2026 guidance raised: revenue $734-742M, Adjusted EBITDA $172-175M (24% margin)
- Q3 2026 guidance: revenue $181-183M, Adjusted EBITDA margin ~23%
- Share repurchases of 0.64M shares for $11.1M during Q2
- $0.40 per share semi-annual dividend paid in July, totaling $35.6M
- Cash and equivalents $145.2M at quarter-end
Financial Impact
Revenue beat guidance by ~$3-5M; full-year guidance raised by ~$20-30M vs prior. Net income up 76% YoY to $27.6M. Q2 diluted EPS $0.30 vs $0.17 YoY.
Risk Factors
- Increasing WC drag (trade receivables up 9% YTD) could pressure future free cash flow conversion
- Dependence on advertising and search partners; platform policy changes could impact monetization
- Competitive and regulatory risks in AI and digital advertising markets
- Qtly operating cash flow conversion to Adj. EBITDA dropped to 52% in Q2 from 103% in Q2 2025
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001737450-26-000014 |
| Document: opra_6-k_2026q2_earnings.htm | 0001737450-26-000014 |
| Document: 0001737450-26-000014-index-headers.html | 0001737450-26-000014 |
| Document: 0001737450-26-000014-index.html | 0001737450-26-000014 |
| Document: 0001737450-26-000014.txt | 0001737450-26-000014 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 3 | $17.69 | awaiting T+20 | — | $18.36 (+3.79%) |
Oct 22, 2026 5d ago | Press Release | $17.74 | awaiting T+20 | — | $18.36 (+3.49%) |
Sep 24, 2026 4w ago | SC 13D/A | $17.65 $17.35 | ▼ −1.70% | ▼ −0.22% | $18.36 (+4.02%) |
Aug 19, 2026 9w ago | 6-K | $18.12 $18.30 | ▲ +0.99% | ▲ +2.95% | $18.36 (+1.32%) |
Aug 10, 2026 11w ago | Press Release | $20.04 $17.68 | ▼ −11.78% | ▼ −10.72% | $18.36 (−8.38%) |
Jun 11, 2026 19w ago | Institutional Cluster | $18.18 $19.20 | ▲ +5.61% | ▲ +3.83% | $18.36 (+0.99%) |
Mar 27, 2026 30w ago | 20-F | $13.49 $16.91 | ▲ +25.35% | ▲ +12.61% | $18.36 (+36.10%) |
US Market Status
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