Loading...
•
Mar 31, 2024
Duolingo Q1 2024 Earnings Report
Reported stellar performance with strong bookings and revenue growth, alongside record profitability.
Key Takeaways
Duolingo reported a 45% increase in revenue and record profitability in Q1 2024. Total revenue reached $167.6 million, with net income at $27.0 million. The company's strong performance has led to an increased full-year guidance.
Total bookings increased by 41% year-over-year to $197.5 million.
Subscription bookings grew by 47% year-over-year to $161.5 million.
Paid subscribers reached 7.4 million, a 54% increase from the prior year.
Daily active users (DAUs) increased by 54% year-over-year to 31.4 million, and monthly active users (MAUs) increased by 35% to 97.6 million.
Duolingo
Duolingo
Duolingo Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Duolingo is providing guidance for the second quarter ending March 31, 2024, and updating its guidance for the full year ending December 31, 2024.
Positive Outlook
- Second Quarter 2024 Total Bookings: $179.0 million - $181.5 million
- Second Quarter 2024 Revenues: $175.0 million - $177.5 million
- Second Quarter 2024 Adjusted EBITDA: $36.8 million - $39.1 million
- Second Quarter 2024 Adjusted EBITDA Margin: 21% - 22%
- Full Year 2024 Adjusted EBITDA Margin: 23% - 24%
Challenges Ahead
- Full Year 2024 Total Bookings: $808.5 million - $817.5 million
- Full Year 2024 Revenues: $726.5 million - $735.5 million
- Full Year 2024 Adjusted EBITDA: $167.1 million - $176.5 million
- A reconciliation to GAAP net income (loss) has not been provided as the quantification of certain items included in the calculation of GAAP net income (loss) cannot be calculated or predicted at this time without unreasonable efforts.
- The non-GAAP adjustment for stock-based compensation expenses related to equity awards requires additional inputs such as number of shares granted and market price that are not currently ascertainable, and the non-GAAP adjustment for certain legal, tax and regulatory reserves and expenses depends on the timing and magnitude of these expenses and cannot be accurately forecasted.
Revenue & Expenses
Visualization of income flow from segment revenue to net income