Nasdaq-listed browser company Opera is planning to adjust how it earns revenue within the Celo ecosystem, seeking to be compensated in its native token rather than cash, a move that signifies a deeper commitment to the network.
If approved, the proposal would more directly tie Opera's financial upside to the performance of the network it relies on and could position it as one of the largest institutional holders of the CELO token.
Opera stated that the proposed shift reflects its "belief in the long-term value" of the Celo ecosystem. The two have been collaborating since 2021, when Opera integrated Celo's native stablecoin capabilities into its browser wallet.
Opera Reports Revenue Growth and Announces Share Buyback Program
Opera's deeper integration with Celo comes as the company announced better-than-expected financial results, with significant growth in both its core browser business and emerging product lines.
Total revenue for the year reached $614.8 million, with adjusted earnings of $142.5 million.
Additionally, the company announced a $300 million share buyback program, which aims to reduce the number of outstanding shares, potentially boosting earnings per share.
Opera's shares, listed on the Nasdaq, have risen over 21% in the past month, trading at approximately $15 per share, giving the company a market capitalization of around $1.3 billion.
