As trading began today, Opera Limited (NASDAQ: OPRA) increased 3.05% to $14.53, continuing its upward trajectory. As a result of Opera’s quarterly results for the period ending December 31, 2023, this surge follows a significant 15.76% increase in the preceding session. This led to a $14.10 closing price.
Opera (OPRA) reported another strong quarter highlighting another exceptional year fueled by a strong product lineup and a successful strategy aimed at growing high-ARPU users and expanding the advertising ecosystem. Opera had projected revenue of $370-390 million and adjusted EBITDA of $71-81 million for 2023 a year ago.
During that period, Opera’s growth strategy exceeded expectations, resulting in a 20% increase in revenue and a 38% increase in adjusted EBITDA. Due to continuous product and marketing innovation, this growth was achieved with lower than anticipated marketing spend, falling short of the levels seen in 2022.
The company is well positioned to maintain its momentum and achieve its goals through 2024. The company’s trajectory of high-ARPU user growth remains robust, propelled by its distinctive browser offerings. Moreover, Opera is witnessing heightened interest from monetization partners as its Western user base continues to expand, along with new engagement and monetization prospects stemming from browser AI.
A recent development in Opera’s technological infrastructure is the deployment of a new AI cluster in Keflavik, Iceland. This cluster, powered entirely by renewable energy, is set to bolster Opera’s browser capabilities and serve as the foundation for its future AI services. Leveraging an NVIDIA DGX SuperPOD, this AI data cluster underscores Opera’s commitment to innovation in the browser AI space since early 2023.
Opera’s flagship browsers already incorporate native AI features, such as the Aria Browser AI, and the company envisions AI playing an increasingly pivotal role beyond conventional chatbot functionalities. The Iceland-based data cluster will enable Opera to deliver customized capabilities to its users while also leveraging solutions from its AI partners.
With cutting-edge NVIDIA H100 GPUs at its disposal, the AI cluster promises four times faster AI training and 30 times faster inference on large language models compared to its predecessors. This full-stack system represents a significant leap forward for Opera in harnessing AI for enhanced browser experiences.
