OPERA SOFTWARE ANNOUNCES FIRST QUARTER RESULTS
Oslo, Norway – May 11, 2016 – Opera Software (OSEBX: OPERA) today reported financial results for the first quarter, which ended March 31, 2016. 1Q 2016 financial highlights include: · § Revenue was $163.5 million in 1Q16, up from $126.8 million in 1Q15, an increase of 29%. On a constant currency basis, revenue growth was 32% in 1Q16 vs. 1Q15. · § Adjusted EBITDA* (excluding one-time costs) of $17.9 million, down 2% versus 1Q15 · § Operating Cash Flow of $11.5m versus -$16.6m in 1Q15 · § Free Cash Flow** of $5.9m versus -$23.2m in 1Q15 Revenues Revenue in 1Q16 was $163.