Opera Limited

Thank you for joining us. As usual, I have with me today our co-CEO, Song Lin, and our CFO, Frodo Jacobson. Before I hand the call over to Song Lin, I would like to remind everyone that in the conference call today, the company will be making statements about future results and expectations, which constitute forward-looking statements within the meanings 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. You may refer to the safe harbor statement on 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 measured in isolation or as a substitute for financial information prepared in accordance with IFRS. We have also posted unaudited quarterly historical financial results of APRA on our investor relations website. We'll be live posting highlights from the call from our Twitter account, at Investor Opera. So please follow along there during the call and in the future. With that, let me turn the call over to our co-CEO, Song Lin, who will cover our third quarter, operational highlights and strategy. And then Frodo will discuss our financials and expectations going forward. Song has a call this morning, and if his voice gives out, I will step in and finish his prepared remarks if necessary. Song?

Yeah, sure. Thank you, Matt. So, yeah, I'm going to call, so I hope my voice doesn't come in too sexy. But anyway, thanks, everyone, for joining us today. We are very proud to announce our so-called results. We both were built and adjusted data exceeding the high end of our prior items ranges. And our business and product lineup has been stronger and more strategic than ever. So in the south corner we generated 102.6 million revenue compared to the 98 to 100 million we have tied it. That marks our 11th consecutive quarter of 20% plus pipeline growth as well as the milestone of exceeding 100 million of quarterly revenue. What's even more exciting is that The overperformance was fueled by an accelerating business strength within the quarter, adding to the trajectory and potential of results ahead. As you will see, our refreshment guidance ranges for the year MQ4 now even begin above the prior high end of ranges for both revenue and adjusted EBITDA. So the household revenue overperformance is visible in our adjusted EBITDA which, coming in 23.8 million, 23% margin, compared to the 18.5 to 20.5 million we had tied it. Profit over performance was, in other words, even stronger than the revenue over performance, fueled by product-driven strengths leading to lower marketing spend than expected. So overall, we continue to credit our financial success to our ongoing focus of growing the highest-value users, combined with careful cost management. The share of our user base data Western users continue to increase in the quarter, which in turn contributed to an up-growth of 11% compared with the prior quarter, or 24% year-over-year, to a new high of $1.31. Advertising revenue grew 24% compared to last year, representing 79% of total revenue. The growth was fueled by a healthy combination of increased O&O advertising revenue from our browsers, which represents the majority of advertising revenue combined with the online growth in our audience extension business. Source revenue grew 15% in the source folder, all of which relate to our browsers. also benefiting from our continued user growth in Western markets. So there are three business topics that I would like to focus on today. Our AI initiatives, our advertising platforms, and finally the Opera GX browser. So I will start with Aria, our internally developed browser AI. Even if we don't directly monetize it, and even if it is only based in creating the ultimate browser AI for our users. Because ARIA is such a strategic area of focus for us that has the potential to greatly expand the services that we can offer to our users. So after our initial success bringing ARIA to our redesigned flagship browser, Opera 1, and to Opera for Android, we continued to roll it out to Opera for iOS and Opera for GX. in the third quarter. And the first step, this enables a large segment of our users to take advantage of RRF's exciting new features. Being an independent browser offers us also the flexibility to work with a variety of partners in the GMAI space and does not lock us into any one specific large language model or any specific source of information. ARIA is built up across our Composer architecture, which allows it to tap into various language models, like OpenAI's GPT model, and to gather live information from the web. This makes its results both more up-to-date and accurate. Also, one also lets you do more with AI with less time, fewer technical skills, and less effort. ARIA comes with a set of tools that allow you to easily refine your queries and create content with a set of predefined prompts. You can follow personalized ARIA with the My Style feature that lets you train your browser AI to write like you. It's never been easier to write long pieces of text, from insightful reviews to eloquent emails or spelling complaints, or in your unique style of writing. Being able to effectively interact with AI is quickly becoming an essential skill in life. ARIA lets people easily and quickly get to what they are looking for, whether it's in search of information or creating a piece of content. So ARIA has proven to be a hit with users, and they are clearly enjoying the experience as evidenced by a need in increasing search queries and page views sufficient. Still, we are only getting started, and the world is only getting to get used to taking advantage of the new technology. We look forward to keeping you posted on our ARIA milestones as we solve this growth in richness, awareness, and capabilities. Today, we monitor ARIA indirectly. both in terms of attracting new users and increasing our user engagement, which in turn benefits our existing search and advertising partnerships. There is no need to restructure those deals to benefit. Looking ahead, we are excited about how IRS useful features can directly translate to monetizable informed recommendations fueled by a broadening context awareness. And then since we talked about monetization, I will turn to our advertising technology, which I highlight, since it is a key enabler of our revenue trajectory. So Opera products are used every day by hundreds of millions of engaged users. And in 2019, we have launched Opera Ads. Opera Ads is an online advertising platform that helps advertisers maximize the performance of their campaigns and increase engagement with their target audiences. So through real-time bidding, the platform also connects with partner inventories, allowing our advertising partners to reach internet users worldwide, including our hundreds of millions of Opera users. Opera Ads empowers partners to achieve key performance indicators, such as extended reach, prolonged audience retention, widespread brand recognition, and a terrible return on ad spend. So as a result, Opera Ads caters to the world's largest advertisers, BSPs, agencies, and e-commerce partners across the globe. To give you a sense of its reach, we now handle a volume of 3.8 million ad requests per second and peak times, making us among one of the biggest players in terms of audience reach. That being said, as an internet company, we have a very large user base to start with. We feel that we are still at a rather early stage of monetization. And we look for a nice growth trajectory ahead. And then finally, I will just come to and we offer a GX browser. So our GX user base continues to impress, up another 10% sequentially. to 26 million MAU during the short quarter. The APU was up 60% sequentially or 33% year-over-year. Now, and then annualized, $3.29 per MAU, continuing to be our best monetizing product. Thanks to our passionate team of gamers, engineers, designers, and more, we have built a browser that delivers an amazing and unique experience on all fronts. Not only does Opera GX provide flagship features such as CPU and RAM usage controllers, But we have introduced several new features that bring customization and integration abilities to a parallel level. These features give gamers and their favorite influencer and streamers something to talk about as we build the brand. And the brand strength of Oracle GX is something we are very proud of. Our goal is to create a multi-gaming brand and the center of a thriving gaming ecosystem and community. So that's why OpenGX maintains one of the largest Discord servers around, collaborates with thousands of gaming influencers, including some of the biggest names in the space, and provides GameMaker a multi-million downloaded app for indie game development. All in addition to giving gamers a platform at which they can play games. So Opera GX now has a very fast-growing community of fans of Discord, Twitter, and TikTok. Well, it is by itself becoming a category-leading brand platform and an important channel for building awareness and stimulating our growth funnel. That is a huge achievement for a browser company. Finally, it is important to note that the vast majority of local GX users are Gen Z and so have only just begun to develop brand loyalties in which GX is taking a strong position. They are also the most tech-savvy generation yet with deep experience and activity for building resilient online communities. around their interests across great distances. So while demos are and tend to remain our key focus of sentiment-based offerings, we also see a broad opportunity from this strategy as well. So within content, we have a table of AI-based content recommendation platform to dedicated apps for social fans, creative fans, or hyperlocal news. On the browser side, just now in September, we partnered with chess.com to put chess what into the browser. So with custom builds for both desktop and mobile products, chess enthusiasts can now enjoy their favorite game wherever they are. We offer a desktop browser, a chess.com icon now resides in the sidebar of our customized version of our browser. so you can solve puzzles and battle your rivals while you browse the web. Opera for Android also got a chess-themed makeover, complete with chess-related articles, videos, and informational content. So overall, we believe we have the best product and technology in Opera history, putting us in a very strong position to continue to deliver great new products and strong financial results as we look to print before and beyond.

So with that, let me turn it over to Tula.