Earnings summaries and quarterly performance for Duolingo.
Executive leadership at Duolingo.
Board of directors at Duolingo.
Research analysts who have asked questions during Duolingo earnings calls.
AS
Alexander Sklar
Raymond James Financial, Inc.
5 questions for DUOL
Also covers: AIOT, BL, EVCM +11 more
Andrew Boone
JMP Securities
5 questions for DUOL
Also covers: CARG, CART, CVNA +23 more
BS
Bryan Smilek
JPMorgan Chase & Co.
5 questions for DUOL
Also covers: CHGG, COUR, CRTO +4 more
CN
Curtis Nagle
Bank of America
5 questions for DUOL
Also covers: ACVA, BMBL, CHWY +12 more
Justin Patterson
KeyBanc Capital Markets
5 questions for DUOL
Also covers: ABNB, ANGI, CART +12 more
Ralph Schackart
William Blair
5 questions for DUOL
Also covers: APP, CARG, DIBS +6 more
RS
Ross Sandler
Barclays
5 questions for DUOL
Also covers: AMZN, CART, DASH +13 more
Ryan MacDonald
Needham & Company
5 questions for DUOL
Also covers: ACCD, AMWL, BNED +17 more
WS
Wyatt Swanson
D.A. Davidson & Co.
5 questions for DUOL
Also covers: CARG, EXPI, REAX +2 more
Mark Mahaney
Evercore ISI
3 questions for DUOL
Also covers: ABNB, AMZN, BKNG +22 more
Nathaniel Feather
Morgan Stanley
3 questions for DUOL
Also covers: BMBL, CHWY, EBAY +6 more
Shweta Khajuria
Wolfe Research, LLC
3 questions for DUOL
Also covers: BMBL, CART, CHWY +14 more
Aaron Kessler
Seaport Research Partners
2 questions for DUOL
Also covers: GDDY, HIMS
Arvind Ramnani
Piper Sandler
2 questions for DUOL
Also covers: CWAN, GLOB, INTA +5 more
CK
Chris Kuntarich
UBS Group
2 questions for DUOL
Also covers: APP, BIGC, COMP +6 more
Christopher Kuntarich
UBS
2 questions for DUOL
Also covers: APP, COMP, DSP +6 more
EK
Edison Kai
Citic Securities
2 questions for DUOL
Hanyi Cai
CITIC Securities
2 questions for DUOL
John Colantuoni
Jefferies
2 questions for DUOL
Also covers: ABNB, ACVA, BKNG +9 more
Mark Stephen Mahaney
Evercore ISI
2 questions for DUOL
Also covers: BKNG, ODD, ZG
CC
Christian Charcoal
UBS Group AG
1 question for DUOL
CL
Crystal Li
CMS
1 question for DUOL
Also covers: GOTU
Eric Sheridan
Goldman Sachs
1 question for DUOL
Also covers: ABNB, ACVA, AMZN +42 more
GA
Georgia Anderson
Wolfe Research
1 question for DUOL
Also covers: ODD
Recent press releases and 8-K filings for DUOL.
Duolingo and Digital Language Learning Market Projected for Significant Growth
DUOL
Revenue Acceleration/Inflection
New Projects/Investments
Earnings
- The global digital language learning market was valued at US$ 26.54 billion in 2024 and is projected to reach US$ 116.88 billion by 2033, growing at a CAGR of 17.9% from 2025-2033.
- Duolingo reported strong user engagement in Q3 2024 with 37.2 million daily active users (DAU) and 113.1 million monthly active users (MAU), converting its free user base into 8.6 million paid subscribers as of September 30, 2024.
- Duolingo's financial performance included total revenue of USD 748 million for the year and USD 192.6 million in Q3 2024 revenue, with Adjusted EBITDA of USD 47.5 million and USD 52.7 million in free cash flow for Q3 2024.
- Key market drivers include the adoption of Generative AI features, surging international student enrollment, stricter work visa proficiency requirements, and the shift towards digital proficiency testing.
Dec 8, 2025, 4:30 PM
Duolingo Reports Strong Q3 2025 Results and Prioritizes Long-Term Growth with AI
DUOL
Earnings
Guidance Update
New Projects/Investments
- Duolingo reported a strong Q3 2025 with solid performance across all metrics, guiding to nearly $1.2 billion in bookings for 2025, representing 33% growth, and an adjusted EBITDA margin of 29%.
- The company is prioritizing long-term user growth and teaching efficacy, driven by the significant AI opportunity in education, which is expected to lead to a product that teaches better than ever before.
- This strategic shift is anticipated to cause some deceleration in Q4 bookings and and revenue growth, as the company prioritizes user growth over short-term monetization in certain trade-offs.
- Daily Active Users (DAUs) grew 36% year-over-year in Q3 2025, with September and October showing around 30% year-over-year growth.
- The Chess course is Duolingo's fastest-growing course, with retention slightly higher than language learning, and a player-versus-player (PVP) feature is being rolled out.
Nov 5, 2025, 10:30 PM
Duolingo Reports Strong Q3 2025 and Prioritizes Long-Term User Growth
DUOL
Earnings
New Projects/Investments
Guidance Update
- Duolingo achieved strong Q3 2025 results, reporting 36% year-over-year daily active user (DAU) growth and guiding to nearly $1.2 billion in bookings for the year, a 33% increase, with an adjusted EBITDA margin of 29%.
- The company is implementing a durable strategic shift to prioritize long-term user growth and teaching efficacy over short-term monetization, driven by the significant opportunity in AI-powered education.
- This reprioritization is expected to lead to some deceleration in bookings and revenue growth in Q4 and potentially into 2026, as resources are reallocated towards product innovation and user acquisition.
- Product developments include expanding content for the top nine languages to a professional proficiency level, introducing guided video calls, and enhancing math and music courses. The chess course is the fastest-growing, with player-versus-player (PVP) functionality rolling out.
- Max subscribers now constitute 9% of total subscribers, with bookings doubling year-over-year in Q3, and Max renewals are performing slightly better than Super subscribers.
Nov 5, 2025, 10:30 PM
Duolingo Reports Strong Q3 2025 User and Revenue Growth
DUOL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Duolingo achieved significant growth in Q3 2025, with Daily Active Users (DAUs) increasing 36% year-over-year to 50.5 million and revenue growing 41% year-over-year to $271.7 million.
- Net income for Q3 2025 was $292.2 million, which included a one-time income-tax benefit of $222.7 million resulting from the release of a valuation allowance on deferred tax assets.
- The company reported Adjusted EBITDA of $80.0 million with a 29.5% margin in Q3 2025, and subsequently raised its full-year 2025 Adjusted EBITDA margin guidance to 29.0% at the midpoint.
- For Q4 2025, Duolingo expects revenue to be between $273 million and $277 million, contributing to a full-year 2025 revenue projection of $1,027.5 million to $1,031.5 million.
Nov 5, 2025, 9:02 PM
Duolingo Announces Q3 2025 Results and User Growth
DUOL
Earnings
Revenue Acceleration/Inflection
- Duolingo announced its third quarter results for the period ended September 30, 2025.
- The company achieved a major milestone, with more than 50 million people now using Duolingo every day.
- For the first nine months of 2025, Daily Active Users (DAUs) and revenue both increased by 40% or more compared to the same period last year, alongside expanding profitability.
Nov 5, 2025, 9:01 PM
Duolingo Reports Strong Q3 Earnings Amid AI Expansion and Diversification
DUOL
Earnings
Product Launch
Guidance Update
- Duolingo reported strong financial performance with adjusted EPS of $0.95 and revenue of $271.71 million, surpassing estimates, and achieved an adjusted EBITDA margin of 29% in the third quarter.
- The company is experiencing significant growth, with daily users exceeding 50 million and projected bookings of nearly $1.2 billion this year, representing a 33% growth rate.
- Duolingo is strategically expanding its offerings through AI-enhanced education and new content areas like Music, Math, and Chess, alongside innovative product launches such as a GenAI Max video call feature.
- Despite strong quarterly results, Duolingo's stock has declined approximately 19.2% year-to-date, influenced by investor concerns regarding AI's potential disruptive impact and broader market volatility.
Nov 5, 2025, 7:23 AM
Duolingo Introduces New Proficiency Score, Expands Course Capabilities, and Partners with LinkedIn
DUOL
Product Launch
New Projects/Investments
- Duolingo has introduced a standardized Duolingo Score (0-160) to measure language proficiency, with a score of 130 indicating readiness for a knowledge job in that language.
- The company plans to expand its German, Italian, Japanese, Korean, Chinese, and Portuguese courses to reach a score of 130 within the next few months, aligning with the current capability of its English, Spanish, and French courses.
- A new Video Call with Lily feature is now available to all Max subscribers in the top nine courses, providing personalized and gamified conversational practice.
- Duolingo has partnered with LinkedIn to enable users to showcase their verified Duolingo Scores on their professional profiles, enhancing the visibility and credibility of language skills for employers and recruiters.
- The Duolingo English Test (DET), a certified version of the score costing $70, is accepted by 99 of the top 100 US universities and over 6,000 academic programs worldwide as proof of English proficiency.
Sep 16, 2025, 4:00 PM
Duolingo Unveils New Language Proficiency Score, LinkedIn Integration, and Chess Course
DUOL
Product Launch
New Projects/Investments
- Duolingo introduced the Duolingo Score, a new standardized measure for language proficiency, aiming to become a global standard, with courses designed to help learners reach a score of 130 (equivalent to B2 CEFR) which enables knowledge jobs in that language.
- A significant partnership with LinkedIn was announced, enabling users to immediately showcase their verified Duolingo Scores on their professional profiles.
- The company emphasized its global impact, serving over 130 million active learners with 90% learning for free, and noted that its certified Duolingo English Test is accepted by 99 of the top 100 US universities and over 6,000 academic programs worldwide.
- Duolingo also launched a new Chess course, currently available in English and Spanish on iOS, with future expansion planned for other languages and Android.
Sep 16, 2025, 4:00 PM
Duolingo Faces Investor Investigation
DUOL
Legal Proceedings
Demand Weakening
Profit Warning
- Pomerantz LLP is investigating Duolingo, Inc. for potential securities fraud or other unlawful business practices.
- The investigation follows JMP Securities lowering its price target on Duolingo stock to $450 from $475 on July 28, 2025.
- This price target reduction was attributed to concerns about slowing user engagement, with daily active user growth decelerating to approximately 39% year-over-year in Q2 2025 from about 51% in Q1 2025.
- On July 28, 2025, Duolingo's stock price fell $23.60 per share, or 6.48%, closing at $340.49 per share.
Sep 2, 2025, 2:00 PM
Duolingo Special Call Highlights Growth and Expansion Strategies
DUOL
Guidance Update
Product Launch
New Projects/Investments
- Duolingo provided guidance for 40%-45% DAU growth in Q2, highlighting its robust freemium model, social-first marketing, and user resurrection strategies as key drivers.
- The call emphasized ongoing efforts to boost platform LTV through subscription upgrades (Super to Max), expanding Family Plan penetration, and leveraging AI for efficient content creation and new verticals such as math, music, and chess.
May 13, 2025, 8:31 PM
Quarterly earnings call transcripts for Duolingo.
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