Business Outlook
“I am very pleased with the opening trajectory of 2023 and while it is only two months since we last spoke, we are cautiously raising the lower-end of our revenue guidance and both ends of our adjusted EBITDA guidance following our overperformance in the first quarter,” said Frode Jacobsen, CFO.
“Combining our current business momentum and our focus on product innovations that have the potential to further drive user engagement and monetization places us in a healthy position for the remainder of the year,” concluded Mr. Jacobsen.
For the full year of 2023, Opera is raising the low end of its previously issued guidance of revenue to be $373 million to $390 million. We guide adjusted EBITDA to now be between $77 million and $83 million, or a 21% margin at the midpoints.
For the second quarter of 2023, Opera expects revenue of $92 million to $94 million, representing 19% year-over-year growth at the midpoint. Adjusted EBITDA is expected to be between $18 million and $20 million, representing a 20% margin at the midpoint.
