A 5% yielder hiding in your browser bar

At first glance this looks like another niche browser company trying to survive alongside Chrome, Safari and the big ad platforms, but the numbers tell a different story: in 2025 the business grew revenue by roughly 28%, kept double digit profitability, carries almost no net debt and throws off more than 100 million dollars in free cash flow a year, which at today’s share price translates into a dividend yield of around 5% while the stock still changes hands at only about 12 times earnings and roughly half of what a conservative fair value estimate would suggest. The disconnect between growth, balance sheet strength and valuation is exactly what makes it interesting for investors willing to dig below the brand visibility of the global tech giants.

The company is a Norwegian software group built around a family of web browsers for desktop and mobile, complemented by its own advertising stack, content and gaming services plus a growing layer of AI and Web3 features. Its strategy is to…