Opera Limited (OPRA) 10-Year Financial Performance & Capital Metrics

OPRA • • Industrial / General

Communication ServicesInternet ServicesDigital Content & Media PlatformsNews & Digital Media Publishers

AboutOpera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; and Opera News, an AI-powered personalized news discovery and aggregation service. It also provides browser-based cashback rewards under the Dify brand name; owns GameMaker Studio, a 2D gaming development platform; and GXC, a gaming portal. In addition, the company operates online marketing platforms, including Opera Ads, an online advertising platform; and Opera Ads Manager, designs to create, manage, and report on digital advertising campaigns in one place allowing advertisers to reach customers. It operates in Ireland, Singapore, Russia, and internationally. The company was founded in 1995 and is headquartered in Oslo, Norway. Opera Limited is a subsidiary of Kunlun Tech Limited.Show more

Revenue $481M +21.1%
EBITDA $108M +41.8%
Net Income $81M -47.3%
EPS (Diluted) 0.90 -46.7%
Gross Margin 72.42% -5.3%
EBITDA Margin 22.44% +17.1%
Operating Margin 19.2% +21.1%
Net Margin 16.8% -56.5%
ROE 8.69% -48.8%
ROIC 8.34% +48.5%
Debt/Equity 0.01 -11.1%
Interest Coverage 174.08 +78.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 15.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 22.1%
✓Healthy dividend yield of 3.0%
✓Healthy 5Y average net margin of 30.2%

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y22.1%

3Y24.18%

TTM30.29%

Profit (Net Income) CAGR

10Y-

5Y6.89%

3Y-

TTM-49.06%

EPS CAGR

10Y-

5Y12.47%

3Y-

TTM-54.82%

ROCE

10Y Avg3.09%

5Y Avg4.04%

3Y Avg7.01%

Latest9.79%

Peer Comparison

News & Digital Media Publishers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPRAOpera Limited	1.26B	14.08	15.64	21.12%	13.93%	8.58%	5.89%	0.01
BIDUBaidu, Inc.	41.57B	149.40	2.27	-1.09%	6.9%	3.13%	31.52%	0.28
KRKR36Kr Holdings Inc.	9.01M	5.07	-0.06	-32.08%	-26.64%	-34.61%		0.25
FENGPhoenix New Media Limited	10.3M	1.90	-0.43	1.69%	-6.38%	-4.56%		0.05
BZFDBuzzFeed, Inc.	35.61M	0.99	-1.09	-24.85%	0.06%	0.14%		0.59
ARENThe Arena Group Holdings, Inc.	197.93M	4.17	-1.46	-12.34%	88.51%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	107.28M	128.89M	172.28M	177.08M	165.06M	250.99M	331.04M	396.83M	480.65M
Revenue Growth %	-	0.2%	0.34%	0.03%	-0.07%	0.52%	0.32%	0.2%	0.21%
Cost of Goods Sold+	42.57M	42.49M	13.32M	2.55M	8.33M	13.69M	54.59M	93.25M	132.56M
COGS % of Revenue	0.4%	0.33%	0.08%	0.01%	0.05%	0.05%	0.16%	0.23%	0.28%
Gross Profit+	64.71M	86.4M	158.96M	174.53M	156.73M	237.3M	276.45M	303.58M	348.09M
Gross Margin %	0.6%	0.67%	0.92%	0.99%	0.95%	0.95%	0.84%	0.77%	0.72%
Gross Profit Growth %	-	0.34%	0.84%	0.1%	-0.1%	0.51%	0.16%	0.1%	0.15%
Operating Expenses+	82M	115.41M	113.65M	175.06M	159.18M	243.51M	234.64M	240.69M	255.83M
OpEx % of Revenue	0.76%	0.9%	0.66%	0.99%	0.96%	0.97%	0.71%	0.61%	0.53%
Selling, General & Admin	3.11M	83.2M	87.5M	138.31M	124.14M	205.13M	200.18M	204.07M	221.6M
SG&A % of Revenue	0.03%	0.65%	0.51%	0.78%	0.75%	0.82%	0.6%	0.51%	0.46%
Research & Development	19.24M	19.95M	21.81M	0	0	0	0	0	46.5M
R&D % of Revenue	0.18%	0.15%	0.13%	-	-	-	-	-	0.1%
Other Operating Expenses	0	32.21M	28.21M	36.75M	35.03M	38.38M	34.46M	36.62M	-12.27M
Operating Income+	-3.37M	10.24M	45.3M	-536K	-2.45M	-6.21M	41.81M	62.89M	92.26M
Operating Margin %	-0.03%	0.08%	0.26%	-0%	-0.01%	-0.02%	0.13%	0.16%	0.19%
Operating Income Growth %	-	4.04%	3.42%	-1.01%	-3.57%	-1.54%	7.73%	0.5%	0.47%
EBITDA+	9.29M	26.9M	57.96M	18.4M	17.94M	13.39M	55.75M	76.06M	107.84M
EBITDA Margin %	0.09%	0.21%	0.34%	0.1%	0.11%	0.05%	0.17%	0.19%	0.22%
EBITDA Growth %	-	1.89%	1.15%	-0.68%	-0.02%	-0.25%	3.16%	0.36%	0.42%
D&A (Non-Cash Add-back)	12.67M	16.66M	12.66M	18.93M	20.39M	19.6M	13.94M	13.16M	15.58M
EBIT	-3.37M	9.45M	40.88M	43.96M	37.95M	-42.79M	24.15M	160.37M	98.94M
Net Interest Income+	0	-184.66K	1.42M	1.39M	-190.82K	-6.85M	3.55M	3.9M	3.05M
Interest Income	1.36M	54.19K	1.64M	2.05M	327.41K	34.88K	5.36M	4.54M	3.58M
Interest Expense	0	238.86K	1.7M	655.37K	518.23K	6.89M	1.81M	645.66K	530K
Other Income/Expense	-15.28M	-515K	-3.68M	43.93M	39.95M	-36.9M	-17.94M	97.11M	6.15M
Pretax Income+	-18.65M	7.5M	41.64M	43.4M	37.51M	-43.11M	23.87M	160M	98.41M
Pretax Margin %	-0.17%	0.06%	0.24%	0.25%	0.23%	-0.17%	0.07%	0.4%	0.2%
Income Tax+	-2.84M	1.44M	6.48M	2.66M	75K	43K	8.84M	6.7M	17.64M
Effective Tax Rate %	0.85%	0.81%	0.84%	1.33%	4.78%	1.02%	0.63%	0.96%	0.82%
Net Income+	-15.81M	6.06M	35.16M	57.9M	179.17M	-43.96M	15.04M	153.3M	80.77M
Net Margin %	-0.15%	0.05%	0.2%	0.33%	1.09%	-0.18%	0.05%	0.39%	0.17%
Net Income Growth %	-	1.38%	4.8%	0.65%	2.09%	-1.25%	1.34%	9.2%	-0.47%
Net Income (Continuing)	-15.81M	6.06M	34.22M	40.74M	37.43M	-43.15M	15.04M	153.3M	80.77M
Discontinued Operations	0	0	0	17.16M	141.74M	-816K	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.14	0.06	0.34	0.50	1.48	-0.38	0.14	1.69	0.90
EPS Growth %	-	1.4%	5.15%	0.47%	1.96%	-1.26%	1.37%	11.07%	-0.47%
EPS (Basic)	-0.14	0.06	0.35	0.52	1.50	-0.38	0.14	1.72	0.91
Diluted Shares Outstanding	109.72M	109.72M	104.36M	112.42M	118.69M	115.14M	110.33M	90.92M	89.68M
Basic Shares Outstanding	109.72M	109.72M	101.31M	112.31M	117.28M	115.14M	109.48M	89.26M	88.46M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.15%	0.46%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	78.97M	74.31M	238.09M	418.32M	183.72M	540.99M	340.21M	208.46M	231.9M
Cash & Short-Term Investments	32.39M	32.97M	179.13M	236.04M	135.03M	181.01M	118.66M	93.86M	126.8M
Cash Only	32.39M	32.97M	177.87M	192.36M	134.17M	102.88M	52.41M	93.86M	126.8M
Short-Term Investments	0	0	1.25M	43.68M	856.03K	78.14M	66.25M	0	0
Accounts Receivable	42.76M	38.94M	44.59M	148.72M	39.63M	62.4M	131.52M	109.94M	97.38M
Days Sales Outstanding	145.47	110.27	94.47	306.55	87.63	90.75	145.01	101.12	73.95
Inventory	3.82M	2.4M	14.6M	7.75M	0	0	0	0	0
Days Inventory Outstanding	32.73	20.65	400.22	1.11K	-	-	-	-	-
Other Current Assets	1.79M	237K	0	0	0	288.38M	86.1M	0	7.72M
Total Non-Current Assets+	561.51M	561.99M	587.21M	642.29M	925.93M	551.48M	624.47M	802.48M	823.68M
Property, Plant & Equipment	11.79M	13.46M	12.16M	26.05M	18.17M	12.26M	14.62M	16.07M	34.06M
Fixed Asset Turnover	9.10x	9.58x	14.17x	6.80x	9.09x	20.47x	22.64x	24.69x	14.11x
Goodwill	421.58M	421.58M	421.58M	421.58M	424.98M	430.38M	429.44M	429.86M	429.74M
Intangible Assets	124.54M	118.62M	115.44M	110.81M	111.96M	103.63M	99.98M	99.07M	100.58M
Long-Term Investments	2.88M	7.37M	37.09M	77.65M	366.45M	2.88M	2.64M	256.35M	261.31M
Other Non-Current Assets	0	0	0	0	0	2K	76.3M	-510	-3.07M
Total Assets+	640.48M	636.3M	825.3M	1.06B	1.11B	1.09B	964.69M	1.01B	1.06B
Asset Turnover	0.17x	0.20x	0.21x	0.17x	0.15x	0.23x	0.34x	0.39x	0.46x
Asset Growth %	-	-0.01%	0.3%	0.29%	0.05%	-0.02%	-0.12%	0.05%	0.04%
Total Current Liabilities+	53.27M	36.85M	34M	128.57M	45.32M	70.79M	64.33M	81.41M	101.09M
Accounts Payable	24.39M	16.52M	14.29M	48.68M	22.45M	32.51M	40.03M	49.34M	72.69M
Days Payables Outstanding	209.08	141.92	391.7	6.97K	984.05	866.61	267.67	193.15	200.16
Short-Term Debt	5.51M	0	2.29M	47.79M	5.39M	7.98M	272K	111K	0
Deferred Revenue (Current)	1000K	1000K	1000K	708K	345.01K	1000K	995K	1000K	1000K
Other Current Liabilities	1.77M	2M	2.79M	13.12M	4.06M	7.33M	568K	397.59K	184K
Current Ratio	1.48x	2.02x	7.00x	3.25x	4.05x	7.64x	5.29x	2.56x	2.29x
Quick Ratio	1.41x	1.95x	6.57x	3.19x	4.05x	7.64x	5.29x	2.56x	2.29x
Cash Conversion Cycle	-30.87	-11	103	-5.55K	-	-	-	-	-
Total Non-Current Liabilities+	19.01M	15.95M	15.84M	19.84M	15.4M	8.63M	12.14M	9.68M	14.39M
Long-Term Debt	0	3.77M	2.24M	1.8M	490.02K	155K	0	0	0
Capital Lease Obligations	1.72M	265K	33K	7.38M	3.09M	1.93M	4.72M	6.78M	5.63M
Deferred Tax Liabilities	15.6M	11.83M	13.36M	10.53M	11.75M	6.53M	7.35M	2.81M	8.69M
Other Non-Current Liabilities	17.29M	87K	13.57M	137K	68K	23K	68K	93K	72K
Total Liabilities	72.28M	52.8M	49.84M	148.41M	60.72M	79.42M	76.47M	91.09M	115.48M
Total Debt+	12.04M	6.11M	4.76M	56.97M	8.97M	13.51M	7.83M	10.55M	9.59M
Net Debt	-20.35M	-26.86M	-173.11M	-135.39M	-125.2M	-89.37M	-44.58M	-83.32M	-117.21M
Debt / Equity	0.02x	0.01x	0.01x	0.06x	0.01x	0.01x	0.01x	0.01x	0.01x
Debt / EBITDA	1.30x	0.23x	0.08x	3.10x	0.50x	1.01x	0.14x	0.14x	0.09x
Net Debt / EBITDA	-2.19x	-1.00x	-2.99x	-7.36x	-6.98x	-6.67x	-0.80x	-1.10x	-1.09x
Interest Coverage	-	42.87x	26.73x	-0.82x	-4.72x	-0.90x	23.12x	97.40x	174.08x
Total Equity+	568.2M	583.5M	775.46M	912.2M	1.05B	1.01B	888.21M	919.85M	940.1M
Equity Growth %	-	0.03%	0.33%	0.18%	0.15%	-0.03%	-0.12%	0.04%	0.02%
Book Value per Share	5.18	5.32	7.43	8.11	8.84	8.80	8.05	10.12	10.48
Total Shareholders' Equity	568.2M	583.5M	775.46M	912.2M	1.05B	1.01B	888.21M	919.85M	940.1M
Common Stock	576.53M	576.53M	738.71M	24K	24K	24K	18K	18K	18K
Retained Earnings	-7.7M	5.37M	36.43M	99.51M	283.34M	249.16M	273.26M	445.16M	536.62M
Treasury Stock	0	0	0	0	0	-60.45M	-206.51M	-238.81M	-238.81M
Accumulated OCI	-1.77M	-9.39M	316K	-1.51M	408.01K	-520K	-3.38M	-4.13M	-4.94M
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.26M	11.65M	33.83M	-44.46M	93.32M	26.56M	56.66M	82.76M	104.98M
Operating CF Margin %	0.01%	0.09%	0.2%	-0.25%	0.57%	0.11%	0.17%	0.21%	0.22%
Operating CF Growth %	-	8.21%	1.9%	-2.31%	3.1%	-0.72%	1.13%	0.46%	0.27%
Net Income	-15.81M	7.5M	41.64M	63.5M	174.79M	-15.98M	23.87M	160M	98.41M
Depreciation & Amortization	12.67M	16.6M	12.69M	18.93M	20.39M	19.6M	13.94M	13.16M	15.58M
Stock-Based Compensation	914K	7.01M	6.44M	5.12M	4.52M	9.79M	9.07M	16.95M	8.63M
Deferred Taxes	0	-5.37M	-1.13M	0	-165.8M	-467K	0	0	0
Other Non-Cash Items	12.83M	-1.62M	-2K	-51.98M	-27.95M	6.77M	16.36M	-104.64M	-13.75M
Working Capital Changes	-9.34M	-12.47M	-25.81M	-80.03M	87.37M	6.85M	-6.58M	-2.71M	-3.9M
Change in Receivables	-9.34M	-235K	-9.63M	-104.23M	19.57M	-7.38M	-17.81M	-17.97M	-20.2M
Change in Inventory	0	0	0	-7.75M	7.75M	24K	-1.49M	0	0
Change in Payables	0	-8.54M	-5.62M	0	58.78M	13.46M	8.57M	5.32M	0
Cash from Investing+	17.31M	-3.31M	-47.25M	-106.99M	2.96M	-49.7M	44.45M	20M	-27.11M
Capital Expenditures	-2.88M	-7.03M	-6.75M	-8.87M	-11.32M	-5.9M	-9.98M	-1.87M	-23.34M
CapEx % of Revenue	0.03%	0.05%	0.04%	0.05%	0.07%	0.02%	0.03%	0%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-11.46M	10.62M	-1.68M	-56.32M	-38.75M	-50.08M	17.55M	21.87M	-3.85M
Cash from Financing+	1.97M	-10.03M	158.95M	113.2M	-100.97M	-6.68M	-150.58M	-59.84M	-42.15M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	-23.11M	-37.44M
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	1.97M	0	-3M	-2.55M	-1.75M	-316K	-295K	25K	-530K
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.62M	4.63M	27.08M	-57.51M	82M	20.67M	46.69M	76.36M	74.37M
FCF Margin %	-0.02%	0.04%	0.16%	-0.32%	0.5%	0.08%	0.14%	0.19%	0.15%
FCF Growth %	-	3.86%	4.85%	-3.12%	2.43%	-0.75%	1.26%	0.64%	-0.03%
FCF per Share	-0.01	0.04	0.26	-0.51	0.69	0.18	0.42	0.84	0.83
FCF Conversion (FCF/Net Income)	-0.08x	1.92x	0.96x	-0.77x	0.52x	-0.60x	3.77x	0.54x	1.30x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.78%	1.05%	5.17%	6.86%	18.27%	-4.26%	1.58%	16.96%	8.69%
Return on Invested Capital (ROIC)	-0.46%	1.39%	5.86%	-0.06%	-0.22%	-0.5%	3.55%	5.61%	8.34%
Gross Margin	60.32%	67.03%	92.27%	98.56%	94.95%	94.55%	83.51%	76.5%	72.42%
Net Margin	-14.74%	4.7%	20.41%	32.7%	108.55%	-17.52%	4.54%	38.63%	16.8%
Debt / Equity	0.02x	0.01x	0.01x	0.06x	0.01x	0.01x	0.01x	0.01x	0.01x
Interest Coverage	-	42.87x	26.73x	-0.82x	-4.72x	-0.90x	23.12x	97.40x	174.08x
FCF Conversion	-0.08x	1.92x	0.96x	-0.77x	0.52x	-0.60x	3.77x	0.54x	1.30x
Revenue Growth	-	20.14%	33.66%	2.79%	-6.79%	52.06%	31.89%	19.87%	21.12%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Advertising [member]	59.9M	-	-	-	-	230.98M	293.45M
Advertising [member] Growth	-	-	-	-	-	-	27.04%
Search [member]	80.2M	-	-	-	-	162.17M	186.27M
Search [member] Growth	-	-	-	-	-	-	14.86%
Technology licensing and other revenue [member]	22.89M	-	-	-	-	3.68M	927K
Technology licensing and other revenue [member] Growth	-	-	-	-	-	-	-74.80%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
United States 1 [member]	-	-	-	-	172.29M	203.06M	256.01M
United States 1 [member] Growth	-	-	-	-	-	17.86%	26.08%
Other geographical areas [member]	78.13M	102.36M	69.76M	83.56M	138.46M	117.61M	141.29M
Other geographical areas [member] Growth	-	31.02%	-31.85%	19.78%	65.71%	-15.06%	20.13%
Singapore 1 [member]	-	-	-	24.44M	-	41.18M	46.66M
Singapore 1 [member] Growth	-	-	-	-	-	-	13.30%
NIGERIA	-	-	-	-	-	-	19.71M
NIGERIA Growth	-	-	-	-	-	-	-
RUSSIAN FEDERATION	17.36M	17.27M	15.24M	16.16M	20.29M	34.98M	16.98M
RUSSIAN FEDERATION Growth	-	-0.52%	-11.73%	6.02%	25.58%	72.40%	-51.44%
Ireland [member]	76.79M	81.64M	80.06M	126.84M	-	-	-
Ireland [member] Growth	-	6.31%	-1.93%	58.43%	-	-	-

Frequently Asked Questions

Valuation & Price

Opera Limited (OPRA) has a price-to-earnings (P/E) ratio of 15.6x. This is roughly in line with market averages.

Growth & Financials

Opera Limited (OPRA) reported $583.4M in revenue for fiscal year 2024. This represents a 444% increase from $107.3M in 2016.

Opera Limited (OPRA) grew revenue by 21.1% over the past year. This is strong growth.

Yes, Opera Limited (OPRA) is profitable, generating $81.3M in net income for fiscal year 2024 (16.8% net margin).

Dividend & Returns

Yes, Opera Limited (OPRA) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.

Opera Limited (OPRA) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Opera Limited (OPRA) generated $87.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Opera Limited (OPRA) 10-Year Financial Performance & Capital Metrics

OPRA • • Industrial / General

Communication ServicesInternet ServicesDigital Content & Media PlatformsNews & Digital Media Publishers

Revenue $481M +21.1%
EBITDA $108M +41.8%
Net Income $81M -47.3%
EPS (Diluted) 0.90 -46.7%
Gross Margin 72.42% -5.3%
EBITDA Margin 22.44% +17.1%
Operating Margin 19.2% +21.1%
Net Margin 16.8% -56.5%
ROE 8.69% -48.8%
ROIC 8.34% +48.5%
Debt/Equity 0.01 -11.1%
Interest Coverage 174.08 +78.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 15.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 22.1%
✓Healthy dividend yield of 3.0%
✓Healthy 5Y average net margin of 30.2%

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y22.1%

3Y24.18%

TTM30.29%

Profit (Net Income) CAGR

10Y-

5Y6.89%

3Y-

TTM-49.06%

EPS CAGR

10Y-

5Y12.47%

3Y-

TTM-54.82%

ROCE

10Y Avg3.09%

5Y Avg4.04%

3Y Avg7.01%

Latest9.79%

Peer Comparison

News & Digital Media Publishers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPRAOpera Limited	1.26B	14.08	15.64	21.12%	13.93%	8.58%	5.89%	0.01
BIDUBaidu, Inc.	41.57B	149.40	2.27	-1.09%	6.9%	3.13%	31.52%	0.28
KRKR36Kr Holdings Inc.	9.01M	5.07	-0.06	-32.08%	-26.64%	-34.61%		0.25
FENGPhoenix New Media Limited	10.3M	1.90	-0.43	1.69%	-6.38%	-4.56%		0.05
BZFDBuzzFeed, Inc.	35.61M	0.99	-1.09	-24.85%	0.06%	0.14%		0.59
ARENThe Arena Group Holdings, Inc.	197.93M	4.17	-1.46	-12.34%	88.51%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	107.28M	128.89M	172.28M	177.08M	165.06M	250.99M	331.04M	396.83M	480.65M
Revenue Growth %	-	0.2%	0.34%	0.03%	-0.07%	0.52%	0.32%	0.2%	0.21%
Cost of Goods Sold+	42.57M	42.49M	13.32M	2.55M	8.33M	13.69M	54.59M	93.25M	132.56M
COGS % of Revenue	0.4%	0.33%	0.08%	0.01%	0.05%	0.05%	0.16%	0.23%	0.28%
Gross Profit+	64.71M	86.4M	158.96M	174.53M	156.73M	237.3M	276.45M	303.58M	348.09M
Gross Margin %	0.6%	0.67%	0.92%	0.99%	0.95%	0.95%	0.84%	0.77%	0.72%
Gross Profit Growth %	-	0.34%	0.84%	0.1%	-0.1%	0.51%	0.16%	0.1%	0.15%
Operating Expenses+	82M	115.41M	113.65M	175.06M	159.18M	243.51M	234.64M	240.69M	255.83M
OpEx % of Revenue	0.76%	0.9%	0.66%	0.99%	0.96%	0.97%	0.71%	0.61%	0.53%
Selling, General & Admin	3.11M	83.2M	87.5M	138.31M	124.14M	205.13M	200.18M	204.07M	221.6M
SG&A % of Revenue	0.03%	0.65%	0.51%	0.78%	0.75%	0.82%	0.6%	0.51%	0.46%
Research & Development	19.24M	19.95M	21.81M	0	0	0	0	0	46.5M
R&D % of Revenue	0.18%	0.15%	0.13%	-	-	-	-	-	0.1%
Other Operating Expenses	0	32.21M	28.21M	36.75M	35.03M	38.38M	34.46M	36.62M	-12.27M
Operating Income+	-3.37M	10.24M	45.3M	-536K	-2.45M	-6.21M	41.81M	62.89M	92.26M
Operating Margin %	-0.03%	0.08%	0.26%	-0%	-0.01%	-0.02%	0.13%	0.16%	0.19%
Operating Income Growth %	-	4.04%	3.42%	-1.01%	-3.57%	-1.54%	7.73%	0.5%	0.47%
EBITDA+	9.29M	26.9M	57.96M	18.4M	17.94M	13.39M	55.75M	76.06M	107.84M
EBITDA Margin %	0.09%	0.21%	0.34%	0.1%	0.11%	0.05%	0.17%	0.19%	0.22%
EBITDA Growth %	-	1.89%	1.15%	-0.68%	-0.02%	-0.25%	3.16%	0.36%	0.42%
D&A (Non-Cash Add-back)	12.67M	16.66M	12.66M	18.93M	20.39M	19.6M	13.94M	13.16M	15.58M
EBIT	-3.37M	9.45M	40.88M	43.96M	37.95M	-42.79M	24.15M	160.37M	98.94M
Net Interest Income+	0	-184.66K	1.42M	1.39M	-190.82K	-6.85M	3.55M	3.9M	3.05M
Interest Income	1.36M	54.19K	1.64M	2.05M	327.41K	34.88K	5.36M	4.54M	3.58M
Interest Expense	0	238.86K	1.7M	655.37K	518.23K	6.89M	1.81M	645.66K	530K
Other Income/Expense	-15.28M	-515K	-3.68M	43.93M	39.95M	-36.9M	-17.94M	97.11M	6.15M
Pretax Income+	-18.65M	7.5M	41.64M	43.4M	37.51M	-43.11M	23.87M	160M	98.41M
Pretax Margin %	-0.17%	0.06%	0.24%	0.25%	0.23%	-0.17%	0.07%	0.4%	0.2%
Income Tax+	-2.84M	1.44M	6.48M	2.66M	75K	43K	8.84M	6.7M	17.64M
Effective Tax Rate %	0.85%	0.81%	0.84%	1.33%	4.78%	1.02%	0.63%	0.96%	0.82%
Net Income+	-15.81M	6.06M	35.16M	57.9M	179.17M	-43.96M	15.04M	153.3M	80.77M
Net Margin %	-0.15%	0.05%	0.2%	0.33%	1.09%	-0.18%	0.05%	0.39%	0.17%
Net Income Growth %	-	1.38%	4.8%	0.65%	2.09%	-1.25%	1.34%	9.2%	-0.47%
Net Income (Continuing)	-15.81M	6.06M	34.22M	40.74M	37.43M	-43.15M	15.04M	153.3M	80.77M
Discontinued Operations	0	0	0	17.16M	141.74M	-816K	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.14	0.06	0.34	0.50	1.48	-0.38	0.14	1.69	0.90
EPS Growth %	-	1.4%	5.15%	0.47%	1.96%	-1.26%	1.37%	11.07%	-0.47%
EPS (Basic)	-0.14	0.06	0.35	0.52	1.50	-0.38	0.14	1.72	0.91
Diluted Shares Outstanding	109.72M	109.72M	104.36M	112.42M	118.69M	115.14M	110.33M	90.92M	89.68M
Basic Shares Outstanding	109.72M	109.72M	101.31M	112.31M	117.28M	115.14M	109.48M	89.26M	88.46M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.15%	0.46%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	78.97M	74.31M	238.09M	418.32M	183.72M	540.99M	340.21M	208.46M	231.9M
Cash & Short-Term Investments	32.39M	32.97M	179.13M	236.04M	135.03M	181.01M	118.66M	93.86M	126.8M
Cash Only	32.39M	32.97M	177.87M	192.36M	134.17M	102.88M	52.41M	93.86M	126.8M
Short-Term Investments	0	0	1.25M	43.68M	856.03K	78.14M	66.25M	0	0
Accounts Receivable	42.76M	38.94M	44.59M	148.72M	39.63M	62.4M	131.52M	109.94M	97.38M
Days Sales Outstanding	145.47	110.27	94.47	306.55	87.63	90.75	145.01	101.12	73.95
Inventory	3.82M	2.4M	14.6M	7.75M	0	0	0	0	0
Days Inventory Outstanding	32.73	20.65	400.22	1.11K	-	-	-	-	-
Other Current Assets	1.79M	237K	0	0	0	288.38M	86.1M	0	7.72M
Total Non-Current Assets+	561.51M	561.99M	587.21M	642.29M	925.93M	551.48M	624.47M	802.48M	823.68M
Property, Plant & Equipment	11.79M	13.46M	12.16M	26.05M	18.17M	12.26M	14.62M	16.07M	34.06M
Fixed Asset Turnover	9.10x	9.58x	14.17x	6.80x	9.09x	20.47x	22.64x	24.69x	14.11x
Goodwill	421.58M	421.58M	421.58M	421.58M	424.98M	430.38M	429.44M	429.86M	429.74M
Intangible Assets	124.54M	118.62M	115.44M	110.81M	111.96M	103.63M	99.98M	99.07M	100.58M
Long-Term Investments	2.88M	7.37M	37.09M	77.65M	366.45M	2.88M	2.64M	256.35M	261.31M
Other Non-Current Assets	0	0	0	0	0	2K	76.3M	-510	-3.07M
Total Assets+	640.48M	636.3M	825.3M	1.06B	1.11B	1.09B	964.69M	1.01B	1.06B
Asset Turnover	0.17x	0.20x	0.21x	0.17x	0.15x	0.23x	0.34x	0.39x	0.46x
Asset Growth %	-	-0.01%	0.3%	0.29%	0.05%	-0.02%	-0.12%	0.05%	0.04%
Total Current Liabilities+	53.27M	36.85M	34M	128.57M	45.32M	70.79M	64.33M	81.41M	101.09M
Accounts Payable	24.39M	16.52M	14.29M	48.68M	22.45M	32.51M	40.03M	49.34M	72.69M
Days Payables Outstanding	209.08	141.92	391.7	6.97K	984.05	866.61	267.67	193.15	200.16
Short-Term Debt	5.51M	0	2.29M	47.79M	5.39M	7.98M	272K	111K	0
Deferred Revenue (Current)	1000K	1000K	1000K	708K	345.01K	1000K	995K	1000K	1000K
Other Current Liabilities	1.77M	2M	2.79M	13.12M	4.06M	7.33M	568K	397.59K	184K
Current Ratio	1.48x	2.02x	7.00x	3.25x	4.05x	7.64x	5.29x	2.56x	2.29x
Quick Ratio	1.41x	1.95x	6.57x	3.19x	4.05x	7.64x	5.29x	2.56x	2.29x
Cash Conversion Cycle	-30.87	-11	103	-5.55K	-	-	-	-	-
Total Non-Current Liabilities+	19.01M	15.95M	15.84M	19.84M	15.4M	8.63M	12.14M	9.68M	14.39M
Long-Term Debt	0	3.77M	2.24M	1.8M	490.02K	155K	0	0	0
Capital Lease Obligations	1.72M	265K	33K	7.38M	3.09M	1.93M	4.72M	6.78M	5.63M
Deferred Tax Liabilities	15.6M	11.83M	13.36M	10.53M	11.75M	6.53M	7.35M	2.81M	8.69M
Other Non-Current Liabilities	17.29M	87K	13.57M	137K	68K	23K	68K	93K	72K
Total Liabilities	72.28M	52.8M	49.84M	148.41M	60.72M	79.42M	76.47M	91.09M	115.48M
Total Debt+	12.04M	6.11M	4.76M	56.97M	8.97M	13.51M	7.83M	10.55M	9.59M
Net Debt	-20.35M	-26.86M	-173.11M	-135.39M	-125.2M	-89.37M	-44.58M	-83.32M	-117.21M
Debt / Equity	0.02x	0.01x	0.01x	0.06x	0.01x	0.01x	0.01x	0.01x	0.01x
Debt / EBITDA	1.30x	0.23x	0.08x	3.10x	0.50x	1.01x	0.14x	0.14x	0.09x
Net Debt / EBITDA	-2.19x	-1.00x	-2.99x	-7.36x	-6.98x	-6.67x	-0.80x	-1.10x	-1.09x
Interest Coverage	-	42.87x	26.73x	-0.82x	-4.72x	-0.90x	23.12x	97.40x	174.08x
Total Equity+	568.2M	583.5M	775.46M	912.2M	1.05B	1.01B	888.21M	919.85M	940.1M
Equity Growth %	-	0.03%	0.33%	0.18%	0.15%	-0.03%	-0.12%	0.04%	0.02%
Book Value per Share	5.18	5.32	7.43	8.11	8.84	8.80	8.05	10.12	10.48
Total Shareholders' Equity	568.2M	583.5M	775.46M	912.2M	1.05B	1.01B	888.21M	919.85M	940.1M
Common Stock	576.53M	576.53M	738.71M	24K	24K	24K	18K	18K	18K
Retained Earnings	-7.7M	5.37M	36.43M	99.51M	283.34M	249.16M	273.26M	445.16M	536.62M
Treasury Stock	0	0	0	0	0	-60.45M	-206.51M	-238.81M	-238.81M
Accumulated OCI	-1.77M	-9.39M	316K	-1.51M	408.01K	-520K	-3.38M	-4.13M	-4.94M
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.26M	11.65M	33.83M	-44.46M	93.32M	26.56M	56.66M	82.76M	104.98M
Operating CF Margin %	0.01%	0.09%	0.2%	-0.25%	0.57%	0.11%	0.17%	0.21%	0.22%
Operating CF Growth %	-	8.21%	1.9%	-2.31%	3.1%	-0.72%	1.13%	0.46%	0.27%
Net Income	-15.81M	7.5M	41.64M	63.5M	174.79M	-15.98M	23.87M	160M	98.41M
Depreciation & Amortization	12.67M	16.6M	12.69M	18.93M	20.39M	19.6M	13.94M	13.16M	15.58M
Stock-Based Compensation	914K	7.01M	6.44M	5.12M	4.52M	9.79M	9.07M	16.95M	8.63M
Deferred Taxes	0	-5.37M	-1.13M	0	-165.8M	-467K	0	0	0
Other Non-Cash Items	12.83M	-1.62M	-2K	-51.98M	-27.95M	6.77M	16.36M	-104.64M	-13.75M
Working Capital Changes	-9.34M	-12.47M	-25.81M	-80.03M	87.37M	6.85M	-6.58M	-2.71M	-3.9M
Change in Receivables	-9.34M	-235K	-9.63M	-104.23M	19.57M	-7.38M	-17.81M	-17.97M	-20.2M
Change in Inventory	0	0	0	-7.75M	7.75M	24K	-1.49M	0	0
Change in Payables	0	-8.54M	-5.62M	0	58.78M	13.46M	8.57M	5.32M	0
Cash from Investing+	17.31M	-3.31M	-47.25M	-106.99M	2.96M	-49.7M	44.45M	20M	-27.11M
Capital Expenditures	-2.88M	-7.03M	-6.75M	-8.87M	-11.32M	-5.9M	-9.98M	-1.87M	-23.34M
CapEx % of Revenue	0.03%	0.05%	0.04%	0.05%	0.07%	0.02%	0.03%	0%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-11.46M	10.62M	-1.68M	-56.32M	-38.75M	-50.08M	17.55M	21.87M	-3.85M
Cash from Financing+	1.97M	-10.03M	158.95M	113.2M	-100.97M	-6.68M	-150.58M	-59.84M	-42.15M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	-23.11M	-37.44M
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	1.97M	0	-3M	-2.55M	-1.75M	-316K	-295K	25K	-530K
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.62M	4.63M	27.08M	-57.51M	82M	20.67M	46.69M	76.36M	74.37M
FCF Margin %	-0.02%	0.04%	0.16%	-0.32%	0.5%	0.08%	0.14%	0.19%	0.15%
FCF Growth %	-	3.86%	4.85%	-3.12%	2.43%	-0.75%	1.26%	0.64%	-0.03%
FCF per Share	-0.01	0.04	0.26	-0.51	0.69	0.18	0.42	0.84	0.83
FCF Conversion (FCF/Net Income)	-0.08x	1.92x	0.96x	-0.77x	0.52x	-0.60x	3.77x	0.54x	1.30x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.78%	1.05%	5.17%	6.86%	18.27%	-4.26%	1.58%	16.96%	8.69%
Return on Invested Capital (ROIC)	-0.46%	1.39%	5.86%	-0.06%	-0.22%	-0.5%	3.55%	5.61%	8.34%
Gross Margin	60.32%	67.03%	92.27%	98.56%	94.95%	94.55%	83.51%	76.5%	72.42%
Net Margin	-14.74%	4.7%	20.41%	32.7%	108.55%	-17.52%	4.54%	38.63%	16.8%
Debt / Equity	0.02x	0.01x	0.01x	0.06x	0.01x	0.01x	0.01x	0.01x	0.01x
Interest Coverage	-	42.87x	26.73x	-0.82x	-4.72x	-0.90x	23.12x	97.40x	174.08x
FCF Conversion	-0.08x	1.92x	0.96x	-0.77x	0.52x	-0.60x	3.77x	0.54x	1.30x
Revenue Growth	-	20.14%	33.66%	2.79%	-6.79%	52.06%	31.89%	19.87%	21.12%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Advertising [member]	59.9M	-	-	-	-	230.98M	293.45M
Advertising [member] Growth	-	-	-	-	-	-	27.04%
Search [member]	80.2M	-	-	-	-	162.17M	186.27M
Search [member] Growth	-	-	-	-	-	-	14.86%
Technology licensing and other revenue [member]	22.89M	-	-	-	-	3.68M	927K
Technology licensing and other revenue [member] Growth	-	-	-	-	-	-	-74.80%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
United States 1 [member]	-	-	-	-	172.29M	203.06M	256.01M
United States 1 [member] Growth	-	-	-	-	-	17.86%	26.08%
Other geographical areas [member]	78.13M	102.36M	69.76M	83.56M	138.46M	117.61M	141.29M
Other geographical areas [member] Growth	-	31.02%	-31.85%	19.78%	65.71%	-15.06%	20.13%
Singapore 1 [member]	-	-	-	24.44M	-	41.18M	46.66M
Singapore 1 [member] Growth	-	-	-	-	-	-	13.30%
NIGERIA	-	-	-	-	-	-	19.71M
NIGERIA Growth	-	-	-	-	-	-	-
RUSSIAN FEDERATION	17.36M	17.27M	15.24M	16.16M	20.29M	34.98M	16.98M
RUSSIAN FEDERATION Growth	-	-0.52%	-11.73%	6.02%	25.58%	72.40%	-51.44%
Ireland [member]	76.79M	81.64M	80.06M	126.84M	-	-	-
Ireland [member] Growth	-	6.31%	-1.93%	58.43%	-	-	-

Frequently Asked Questions

Valuation & Price

Opera Limited (OPRA) has a price-to-earnings (P/E) ratio of 15.6x. This is roughly in line with market averages.

Growth & Financials

Opera Limited (OPRA) reported $583.4M in revenue for fiscal year 2024. This represents a 444% increase from $107.3M in 2016.

Opera Limited (OPRA) grew revenue by 21.1% over the past year. This is strong growth.

Yes, Opera Limited (OPRA) is profitable, generating $81.3M in net income for fiscal year 2024 (16.8% net margin).

Dividend & Returns

Yes, Opera Limited (OPRA) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.

Opera Limited (OPRA) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Opera Limited (OPRA) generated $87.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.