Opera Limited (NASDAQ:OPRA) Q1 2024 Earnings Conference Call April 25, 2024 8:00 AM ET
Company Participants
Matt Wolfson - Head of IR
Song Lin - Co-CEO
Frode Jacobsen - CFO
Conference Call Participants
Lance Vitanza - TD Cowen
Mark Argento - Lake Street
Naved Khan - B. Riley
Vicky Wei - Citi
Operator
Welcome to the Opera Limited First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's call is being recorded. [Operator Instructions]
I would now like to turn the call over to your speaker today, Matt Wolfson, Head of Investor Relations. Please go ahead.
Matt Wolfson
Thank you for joining us. As usual, I have with me today are Co-CEO, Song Lin, and our CFO, Frode Jacobsen. Before I hand the call over to Song, I would like to remind everyone that in the conference call today, the company will be making statements about its future results and expectations, which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act.
Such statements are based on current expectations and how we perceive the current economic environment, and are inherently subject to economic, competitive and other uncertainties and contingencies beyond the control of management. You should be cautioned that these statements are not guarantees of future performance. And you may refer to the safe harbor statement in the company's earnings release for details.
Our commentary today will also include non-IFRS financial measures, including adjusted EBITDA, which are different from our consolidated financial statements that are prepared and presented based on IFRS. We believe that the use of our non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These measures should not be considered in isolation or as a substitute for financial information prepared in accordance with IFRS. We have also posted an unaudited quarterly historic financial results of Opera on our Investor Relations website.
With that, let me turn the conference call over to our Co-CEO, Song Lin, who will cover our first quarter operational highlights and strategy, and then, Frode Jacobsen will discuss our financials and expectations going forward. Song?
Song Lin
Thank you, Matt, and thanks to everyone joining us this morning to review our first quarter results. 2024 is already off to a strong start, with revenue of $102 million, driven once again by organic growth payout with cost discipline, resulting in $25 million of adjusted EBITDA, representing a margin of 24%. Both revenue and EBITDA exceeded the first quarter guidance that we outlined on our last quarterly call.