Opera (NASDAQ:OPRA+10.7%)Q1 revenue jumps 39% to $71.58M; core search and advertising revenue grew 41% Y/Y in Q1, driven by the strong ARPU trend of our browser and news user base.
Bifurcating, search revenue increased by 20% to $32M; Advertising revenue increased by 64% to $38.5M; Technology licensing and other revenue was $1.1M.
Average monthly active user base was 339M with strongest user growth in America; North America up 15% and South America up 10%.
The Opera GX gaming browser had over 16M MAUs.
Operating profit was $1.3M compared to an operating loss of $1.5M last year.
Guidance FY: Revenue $300M-310M; representing a 22% increase at the midpoint, and adjusted EBITDA to be between $50M-60M, or an 18% margin at the midpoint, versus 12% for 2021.
Guidance Q2: Revenue of $71M-74M, representing 21% Y/Y growth at the midpoint, and adjusted EBITDA is expected to be between $8M-12M, representing a 14% margin at the midpoint.
"Due to the core revenue generation of our business scaling ahead of expectation, we exceeded the top of our guidance ranges for both revenue and adjusted EBITDA in the first quarter and we are in a position to maintain our prior full-year guidance" said CFO Frode Jacobsen. "Revenues generated from our users located in Russia, Belarus and Ukraine accounted for approximately 10% of our revenue in the past, and it is the strength of our underlying business that offsets the expected decline in this region for the year as a whole.