Opera (NASDAQ: OPRA) 2025 20-F flags Google reliance, OPay swings and AI risks

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Opera Limited filed its 2025 annual Form 20-F, detailing key risks such as heavy reliance on Google for search-query revenues, intense competition from large tech platforms, and the potential impact of AI on traditional browsing and ad monetization. The report also highlights financial exposures including a significant investment in OPay, which is subject to fair value swings, and holdings of crypto assets. Opera emphasized that it remediated a prior material weakness in internal control over financial reporting by year-end 2025.

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