EarningsQ2 2026 Earnings Report
DE:2V8 Q2 2026 EPS Results
Actual EPS€0.27
Consensus EPS€0.23
Beat/MissBeat by +€0.04
One Year Ago EPS€0.15
DE:2V8 Q2 2026 Revenue Results
Actual Revenue€158.29M
Expected Revenue€157.94M
Beat/MissBeat by +€346.90K
YoY Revenue Growth+23.32%
Earnings Announcement Details
QuarterQ2 2026
Date08/19/2026
TimeBefore Open
Conference CallWednesday, August 19, 2026
DE:2V8 Upcoming Earnings
Opera's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:2V8 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operating and financial momentum — double-digit topline growth (25% YoY in Q2), record adjusted EBITDA (+32% YoY), robust ad and query revenue expansion, product-led user engagement gains (ARPU +25%, MAU scale), raised full-year guidance, and continued shareholder returns. Key growth initiatives (AI integrations, Browser Connector, Opera Ads, MiniPay) and an expanded addressable audience (>700M) underpin the positive outlook. Headwinds and cautions include early-stage monetization for MiniPay, small absolute size of some high-growth revenue streams, expected modest rise in cost of revenue as third-party inventory scales, seasonality, shifts away from low-ARPU users, and some market skepticism about durability. On balance, the positives — recurring revenue acceleration, margin expansion, raised guidance, and platform-level product traction — materially outweigh the listed lowlights.Company Guidance
Strong Revenue Growth
Total Q2 revenue grew 25% year-over-year to $178.1 million, above the top of guidance and surpassing a typical seasonal Q4 peak one quarter early.
Advertising Revenue Acceleration
Advertising revenue increased 27% year-over-year to $115 million, with e-commerce cited as the primary growth driver and new high-intent ad formats (AI price comparisons) in the roadmap.
Query/Search Revenue Momentum
Query revenue grew 21% year-over-year to $62 million globally; in Western markets query revenue grew ~29% YoY (1.4x the global pace), reflecting stronger ARPU and engagement from AI-enabled search activity.
Record Adjusted EBITDA and Margin Expansion
Adjusted EBITDA was a quarterly record $42.4 million, up 32% year-over-year, representing a 24% margin. Management expects full-year adjusted EBITDA margin to increase ~25–40 basis points vs. 2025.
Raised Full-Year Guidance
Full-year revenue guidance raised to $734 million–$742 million (≈20% growth at midpoint). Full-year adjusted EBITDA guidance raised to $172 million–$175 million (≈24% margin on the elevated midpoint). Q3 revenue guided to $181M–$183M (19–20% growth) and adjusted EBITDA to $41M–$43M.
User Base and Engagement
Monthly active users reached ~288 million (nearly 300M). Annualized ARPU increased 25% to $2.46, Western user base grew 4% YoY to 61 million, and mobile in Western markets grew 8% YoY.
Opera GX and Platform Wins
Opera GX hit 37 million MAUs, adding nearly 2 million users in the quarter (Q-over-Q growth matched all of 2025's additions), driven by gaming partnerships and integrated rewards/game boost features.
Geographic Mobile Momentum
Combined Android and iOS MAUs grew 66% in the UK and 40% in the US over the past year; Opera One for iOS grew 42% across Europe, showing traction even in restrictive ecosystems.
Expanded Addressable Reach
Total addressable audience increased to beyond 700 million (from ~500 million six months prior), driven by OEM white-label solutions and broader SDK distribution.
MiniPay Scale and Product Progress
MiniPay added 3 million wallet activations in the period, bringing totals to 18 million wallets and 518 million transactions (88 million new transactions since the last update). MiniPay now operates in 66+ countries with 57+ live mini apps and launched a Visa card across the EU.
Shareholder Returns and Capital Allocation
Since 2020 Opera returned $577 million to shareholders ($320M dividends, $256M buybacks). Q2 repurchases totaled 636,000 shares for $11.1 million; July semiannual dividend was $0.40 per share (annualized yield 3.9%).
Cash Generation and Conversion
Operating cash flow was $22 million in Q2 and free cash flow from operations $17 million. Year-to-date conversion rates: 76% of adjusted EBITDA to operating cash flow and 62% to free cash flow.
DE:2V8 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed