Opera Limited has achieved a stellar performance in the second quarter of 2026, announcing record revenue and profitability. This success is largely attributed to the robust growth in its advertising and query divisions, further enhanced by the strategic integration of artificial intelligence into its browser functionalities. The company's focused shift towards Western markets, characterized by higher Average Revenue Per User (ARPU), has also played a crucial role in these positive outcomes. Management's decision to revise its full-year guidance upwards reflects a strong belief in the sustained growth trajectory and operational efficiency.
During the second quarter of 2026, Opera's revenue surged to an unprecedented $178.1 million, marking a significant 25% increase compared to the previous year. This exceptional growth was mirrored in its adjusted EBITDA, which climbed by 32% to $42.4 million, achieving a healthy 24% margin. The advertising segment, a primary growth driver, saw its revenue jump by 27% to $115.4 million, fueled by successful e-commerce partnerships and performance-based campaigns. Concurrently, query revenue expanded by 21% to $62.1 million, benefiting from the native integration of AI and the evolving landscape of search queries.
The company's strategic emphasis on AI has translated into tangible benefits, with users engaging with AI features demonstrating increased browser usage and search activity. This engagement is particularly pronounced in Western markets, where query revenue growth of 29% outpaced the global average of 21%. Opera's innovative AI strategy also includes the launch of Browser Connector, enabling seamless integration with leading AI services like Claude and ChatGPT, thereby positioning the browser as a central hub for diverse AI applications. Furthermore, Opera GX, the specialized browser for gamers, attracted an additional 2 million users, reaching 37 million monthly active users, driven by gaming ecosystem integrations and reward programs. The MiniPay stablecoin wallet also experienced remarkable growth, with 3 million new activations, bringing its total to 18 million wallets and processing 518 million transactions, showcasing its expanding utility in emerging markets and its recent partnership with Visa for a stablecoin-linked card.
Opera's commitment to shareholder returns is evident through its consistent dividend payments and share repurchase programs. Since 2020, the company has returned $577 million to shareholders, reinforcing its low capital expenditure business model. The company's total addressable audience has grown to 700 million, a substantial increase from 500 million just six months prior, attributed to expanded OEM and SDK partnerships. Despite seasonal fluctuations, particularly in Opera GX usage during summer, the underlying business model remains robust and scalable. Opera continues to invest in product development and marketing, balancing growth with profitability, and is well-positioned to capitalize on the evolving digital landscape, particularly with advancements in AI and global market expansion.
