Financial results time again. The third quarter results for 2009 are in. The overall revenue growth is only 8% for the quarter, but 38% for the first 3 quarters of 2009 compared to 2008. Currency/exchange rates are not in Opera's favour compared to last year, but this will probably normalize over time. …
- Overall revenue up 8% since Q3 2008 (+38% since the first 3 months of 2008)
- We have invested a lot of money in things like the new Opera Mini and Mobile, so we reported our first small loss for a long time
- Number of desktop users is nearly 45 million, up 45% since Q3 2Q08 (or up 130% since Q3 2007)
- Desktop revenue is up 53% compared to the same quarter last year
- The Opera Mini user count is up 150% since Q3 2009, and a massive 900% since Q3 2007
- Opera now has about 760 employees in 10+ countries
Non-recurring engineering (NRE) revenue is dropping a lot, but that is because we are trying to spend less time adapting Opera for each customer by standardizing our products and making them easier to cuztomize. This means that we can focus on license income and revenue sharing, which is much more scalable as a business model (minimizing NRE means that we can generate even more revenue per employee).
Even though we are only noticing the world financial crisis now, we do have a lot of cash, and Opera is not in any sort of danger as far as I can tell. According to the presentation, we have more contracts coming up in the near future, and the desktop version is seeing some nice growth.
The outlook for the last quarter of 2009 and the first quarter of 2010 is still cautious, but profits are expected to increase going into the second half of 2010.