Opera Ltd (OPRA) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Medium Risk

Moderate dilution risk

Last updated: March 27, 2026

Risk Assessment Details

Potential Dilution: 257.18% of current shares

Recent Dilution: 1.32% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

90M

Potential Supply

230M

Additional shares possible

Splits

None

Past 2 years

Summary

OPRA currently has 89.6M outstanding shares. with significant dilution risk as 231M authorized shares could dilute existing holders by 257.2%. The company has minimally diluted shareholders by 1.32% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Mar 27, 2026	20-F filing \| 89.6M shares outstanding	90M	230M
Apr 10, 2025	20-F filing \| 88.5M shares outstanding	88M	230M
Apr 24, 2024	20-F filing \| 175.0M shares outstanding	180M	150M
Jul 14, 2023	F-3 filing: Opera Limited files an F-3 registration statement for the potential offering of ordinary shares, preferred shares, debt securities, and warrants, with an aggregate offering price of up to US$300,000,000; also includes offering of up to 141,773,298 ordinary shares or equivalent ADSs by selling securityholders.	180M	140M
Apr 20, 2023	20-F filing \| 178.4M shares outstanding	180M	0
Apr 26, 2022	20-F filing \| 230.3M shares outstanding	230M	0
Jun 11, 2021	20-F filing \| 228.3M shares outstanding	230M	0
Apr 30, 2020	20-F filing \| 237.8M shares outstanding	240M	0

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