Opera Q2: Advertising And Query Are The Clear Drivers In The Short Term

Opera delivered strong Q2 results with 25% y/y revenue growth, robust advertising momentum, and raised FY guidance. OPRA maintains a debt-light balance sheet, $145.2m in cash, and growing profitability, supporting continued investment in AI and product expansion. Brand awareness in the US remains low at 44%, offering significant runway for ARPU and user base growth if successfully addressed. My fair value target is $29–$30 per share, implying 50% upside, and I reiterate a strong buy rating based on operational momentum and guidance upgrades.

I wanted to go over Opera's (OPRA) latest performance, give some comments on where I think the growth momentum will come from in the short term, and give some comments on where I currently stand.