Opera Limited (OPRA) 25 Apr 242024 Q1 Earnings call transcript

Welcome to the Opera Limited First Quarter 2024 Earnings Call. [Operator Instructions] Please be advised that today's call is being recorded. [Operator Instructions]I would now like to turn the call over to your speaker today, Matt Wolfson, Head of Investor Relations. Please go ahead.

Thank you for joining us.

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from to increasing $XXX guidance revenue $XXX to becomes year midpoint new million, Our results the full XX% growth. which million XX% in

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from first with Instructions] Vitanza come Lance Our question Cowen. [Operator will TD

new you start A Congratulations DMA lot in this maybe to go increase here, the just I iOS users Europe. in with guys. to on through could exciting. we find very And quarter, March. but February a the from XX% mentioned

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Yes.

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with the still start with potential. XXX total we million, for which where of user announced iOS, our base there's a we of big to then, like growth more user on users. now be compared So to But course, millions have base,

year even see which major on the revenues So though in though can many meaningful have I our think to impact come. ahead, are growth, there even things many like we opportunities now,

excited, then that's it be this course but more in come. months interesting think I see we the while of how few to our general will to And like are develops So next feelings.

I already your investment Is mention would an wanted just presumably, kind Frode. did was to I increase be an And with in hope check there there understandably. And you anticipated. increase, be that of would -- that iOS that spend. would

sort course the and year, think we that guidance? of budgeting say, had should the the talked over of the upside guidance about to the the marketing so spend -- the the And no there's you about for of incremental balance I over

the that spend, already terms It really we and revenue of our majority say correlates would I the of spend. North is is marketing well. markets. our America, where coming Western from revenue growth with we reflect In the as spend marketing where Europe,

though base, years. total we've strategy XX% where part in we that of been as still for even following it the is So our of past represents to the only user that continue investing

might control the I for -- called have But kind were think Okay. And the the expands a GX despite have geography, monetization as markets year-on-year overall, some you or the I'm you wondering, GX thing if actually but that. non-Western just you XX% to that's of a imagine dilution good browser, then sense to monetization I been? so out emerging for market-by-market, do on speak, in markets. was versus it what growth otherwise in in

think an into I company at that. We we'd ARPU that detail. overall, Yes. for growth I don't go whole, as level But typically of the about see twice a think

indication. So I good a think that's

just you other? And comparable growth now one in growth each just Or market? directionally, is kind monetization or seeing of are the market is again, lesser in -- or the greater

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saw February think announce well back of Okay. its CapEx it another was. the we Meta budget. Last economics incremental And in quite like the question big pace for contained. a about in Then seems me. talked is we Iceland, increase bit it pretty I CapEx investments

quarter-to-quarter, just And to so are frequently we investments start more up et cetera? what data pop see that center big chances these year-to-year, wondering, I'm the

we don't did over was cash there -- because to time lead on time, would think I want significant a that. if there any I it flow expand surprises because expect even

Street. from with Argento next Our question Mark will Lake come

nice on quarter. a Congrats

guys timetable And to right just outstanding into a here. of triggered the more buyback. want Anything touch Just now had I on had on mentioned of that Google the what's ones know read they you then accelerated that. kind quick to couple I the on renewal?

Frode can begin. I here.

our terms most have consumed buyback, buyback $XX fully we of million recent In plan. the

when So see sticking announce a watch always have I thereafter. the with think now it's historically and tradition we we quickly then we execute as pretty bit something, done, and

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sounds to on That's helpful. quickly And just well continues then perform the like GX browser. back It in North America.

You the terms AI rolling uptake you? desktop of get or more as potentially on with in or -- product any especially see non-GX on side, out, mobile you growth the a technology driver do side for AI the more browser how

Song just It's Yes. I'll on. comment.

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which -- leading think of. it's browsers think this yes, have to now one are access the and the So the all very technologies, it's AI which becoming I major of proud I we almost all fastest

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those yes, AI. opportunity really if for features iOS typically to that opportunities conscious are provide the can about high we that especially good -- provide we also are know, quite you grow. is around us a can So all And definition segment. iOS especially And I feel as also we think users a those the because becoming by that capture

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of the the luck rest way. Good helpful. That's

Our next from Goldman Sheridan question Eric Sachs. will come with

Alex for is This on Eric.

ad Can in about around Just be that's recent one of There's months? and a Obviously How quick in bit seeing digital has sort been on market you? helpful. elevated you ad lot the users. talk auctions. competitive auctions? are where trended the of focused a channels and broadly on That a ROAS you're would well marketing spend. Which what prices you're for ad really industry little markets working developed ad in on adding discussion

Yes, it's Song also comment here. well. will but it, I as from maybe comment Frode

So feel say that we level, high I marketing. competitive rather in would I are

think result. I adjusted about higher have a as actually also it's why a we bit EBITDA positive

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other more a So lot that instance, work on get that elastic. we, for the focus influencer and then influencers we with features, we'll and

or And So ad it be it spend able those, things space. those that to maybe way. guess, impact as by marketing acquire actually users movements actually not in enable us the I much much so pure I in or think to affect

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so yes, at same tried to the comment I time. this, to So

That's helpful.

Instructions] B. next question with Naved Securities. comes [Operator Our Riley Khan from

So maybe usage bit. that you just seeing retain people on previously default? some a if terms after and being can were you versus default trends in set able you who existing the about Maybe you are of the Let's what a talk Opera provide kind color the a not base saw. of on DMA little implementation And to then as that? maybe

Song It's here. Yes. on

Yes. that. commenting previously was I think I

the set saw right, the the especially default So major even iOS lot what in disclose are separation there very still users, are incremental as active that small. not it's base, are on But existing with of we -- still browser. you about. -- which happy I But that total, right commented that, merely yes, And we user to if we then users then range, you in are our for of to irrelevant. then so and think the It's don't It's it's results. I the have so sense course, also a see think we of that is also uplifting big.

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growth So to. develops. -- in case, this let's with move incentive coming see to And is forward the one any how is large us because for it's

then some kind And quarter. in think I just It you're first seeing quick opportunity a little you spend. do maybe new a that out? the lighter, the in can about Frode. channels for into? marketing should deploy dollars And of think, we for talk about going Okay. follow-up How bit see came Maybe ad you

similar X% marketing It to to we So expected QX. be had in very came QX spend below.

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question the monetization think of was I second around part the opportunities.

expanding of monetization We are GX. in process the Opera of

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Understood. Thanks a lot guys.

next will from come question Our Vicky Citi. Wei with

with in financial driven how Congrats Opera users XX this Any to color of models enhancement One on favorite adding Since you your families be question. support indication see the of browser share X more Opera developer top experimental announcement models Or local tools stream, you are from on future the of on some any help could solid got one for the could limited quarter. monetization? from these usage I've One? which growth? LM the XXX will

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features, think all field the are things I remain in browser. those within that hope to good the and roles leading we good and So

I can chime from maybe monetization in the point.

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slightly So use cases. different

Okay.

questions, us you I'll there's if no that So thank all other today. say for just joining

will times. looking opportunities been ahead. There be quarterly to see, and this innovate and as with to And have the tuned, your exciting forward for so you. stay ultimately the you quickly about update thank talk It progresses, share you We year evolve lots as time. seize is to we

your Thank participation. program. conclude today's you This does for

You disconnect at any may time.