Q3 2024 Opera Ltd Earnings Call Transcript
Key Points
- Opera Ltd (OPRA) reported a 20% year-over-year revenue growth, accelerating from the 17% growth rate in the first half of the year.
- The company's adjusted EBITA was $41 million, representing a 25% margin, exceeding the high end of their guidance ranges.
- Advertising revenue grew by 26% year-over-year, the highest rate since 2022, driven by strong performance in e-commerce and travel categories.
- Opera Ltd (OPRA) introduced a refreshed version of its browser, Opera One R2, which has shown significant user growth, particularly in Europe.
- The company maintained a strong cash flow, with operating cash flow reaching an all-time high of $34.9 million in the quarter.
- Opera Ltd (OPRA) experienced some impact in July and August due to native issues, although September showed recovery.
- The company anticipates increased marketing expenses in Q4, which could impact profitability despite strong revenue growth.
- There is uncertainty regarding the long-term monetization potential of their e-commerce advertising revenue stream.
- Opera Ltd (OPRA) faces challenges in maintaining user engagement and retention in a highly competitive browser market.
- The valuation and potential monetization of Opera Ltd (OPRA)'s stake in OPay remain unchanged, with no immediate plans for divestment.
Welcome to the Opera Limited third quarter, 2024 earnings call. At this time. All participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session to ask a question. During this period. You will need to press star one on your telephone keypad. If you want to remove yourself from the queue, please press the pound key. Please be advised that today's call is being recorded. Lastly. If you should need an operator assistance, please press star zero. I would now like to turn the call over to your speaker today, Matt Wolfson, head of Investor Relations. Please go ahead, sir.
Thank you for joining us this morning. I'm joined by our co CEO Song Lin and our CFO Frode Jacobson. Before I hand over the call to Song Lin, I would like to remind you that some of the statements that we make today regarding our business operations and financial performance may be considered forward-looking. Such statements are based on current expectations and assumptions that are subject
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