Opera(OPRA -4.00%) reported its fiscal second quarter 2025 (period ended June 30, 2025) results on August 19, 2025, delivering 30% year-over-year revenue growth, far surpassing guidance, with adjusted EBITDA of $32 million and an updated annual revenue outlook of $585 million to $597 million. The company highlighted outperformance in advertising, a breakthrough for its MiniPay stablecoin wallet, and plans for the AI-native Opera Neon browser targeting nearly 300 million monthly active users (MAUs).

Opera outpaces guidance with 30% revenue surge

The company’s sequential momentum follows 35% year-over-year revenue growth in the first half, and marks its seventeenth consecutive “rule of 40” quarter, signaling robust profitability combined with high growth. Advertising revenue grew 44% year over year to $93 million, with e-commerce now accounting for almost half of total advertising revenue and e-commerce verticals exceeding 100% year-over-year growth.

"The second quarter experienced year-over-year revenue growth of 30% compared to guidance of 22% to 26% and well ahead of 17% growth in the second quarter of last year. This marks our seventeenth straight quarter as a role for the company, entirely fueled by organic revenue growth and healthy margins, leading to cash flows that fund both innovation and our recurring dividends."
-- Song Lin, Co-CEO

This sustained outperformance, combined with consistent cash generation, underpins Opera’s ability to simultaneously accelerate user-facing investments and return capital via dividends and buybacks.

MiniPay becomes leading stablecoin wallet, expanding monetization

MiniPay reached 9 million activated wallets and over 250 million transactions across 53 countries, launching as a standalone app on both Android and iOS in addition to its integration in Opera Mini. Management confirmed that MiniPay is already generating revenue through ecosystem partner integrations, even as the current focus is on scaling and product fit rather than immediate profit maximization.

"As a result, MiniPay has reached 9 million activated wallets and exceeded 250 million transactions and is now among the fastest-growing non-custodial wallets globally. In addition, we are seeing the development of third-party apps within MiniPay further differentiating the app and creating a positive feedback loop to fuel additional growth. While our near-term priority is skill building, we already generated MiniPay revenue from integrations that ensure native support for ecosystem partners."
-- Song Lin, Co-CEO

MiniPay’s rapid adoption and embedded monetization opportunities diversify Opera’s revenue streams beyond advertising and search, strengthening the company’s fintech positioning and potential resilience to digital advertising cycles.

Opera launches Neon to capture AI-native browsing opportunity

Opera Neon, set for public launch in fall 2025, is designed as an AI-native browser leveraging third-party large language models (LLMs) and Opera’s proprietary contextual integration, targeting knowledge workers' productivity and daily workflow integration. Management identified a market of over 1 billion knowledge workers and articulated a dual monetization strategy combining advertising and tiered subscription for advanced AI features.

"Neon will provide content with greater control of privacy and security and more efficient use of computing resources. In this context, we are so excited about what we are building for public release during the fall, the AI browser Opera Neon. Neon will combine major AI use cases into a single user interface with the native functionality over Opera browser that is already appreciated for productivity. Opera Neon is built to be the gateway to AI, where web applications and automation converge."
-- Song Lin, Co-CEO

Opera’s scale in browser distribution and investment in native AI integration position Neon as a differentiator with the potential to offer both advertising and subscription models in the evolving AI workspace ecosystem.

Looking Ahead

Management raised full-year fiscal 2025 revenue guidance to $585 million to $597 million (22% to 24% year-over-year growth), and lifted adjusted EBITDA guidance to $136 million to $140 million with continued margin expansion, assuming a 23.4% adjusted EBITDA margin at the midpoint. Fiscal third quarter 2025 guidance calls for $146 million to $149 million in revenue (20% year-over-year growth at the midpoint). Opera anticipates further AI-native feature launches with Neon in the fall, continued MiniPay expansion, and potential upside in e-commerce as global macro volatility stabilizes.