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Jun 30, 2024
Duolingo Q2 2024 Earnings Report
Duolingo's Q2 2024 results were released, showcasing substantial growth in users, subscribers, and revenue.
Key Takeaways
Duolingo reported a strong second quarter in 2024, marked by significant growth in MAUs, DAUs, paid subscribers, and revenue. The company exceeded 100 million MAUs and saw a substantial increase in net income and free cash flow compared to the prior year quarter.
Total bookings increased by 38% year-over-year, reaching $190.1 million.
Paid subscribers grew to 8.0 million, a 52% increase compared to the previous year.
Daily active users (DAUs) surged by 59% year-over-year, reaching 34.1 million, and monthly active users (MAUs) increased by 40% to 103.6 million.
Total revenues increased by 41% year-over-year, amounting to $178.3 million.
Duolingo
Duolingo
Duolingo Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Duolingo provided guidance for the third quarter ending September 30, 2024, and updated its guidance for the full year ending December 31, 2024.
Positive Outlook
- Total bookings are expected to be between $194.5 million and $197.5 million for Q3 2024.
- Revenues are projected to be between $186.7 million and $189.7 million for Q3 2024.
- Adjusted EBITDA is anticipated to be between $40.1 million and $42.7 million for Q3 2024.
- Total bookings are expected to be between $820.5 million and $827.5 million for the full year 2024.
- Revenues are projected to be between $731.3 million and $738.3 million for the full year 2024.
Challenges Ahead
- The company has not provided a reconciliation to GAAP net income for Adjusted EBITDA and Adjusted EBITDA margin outlook.
- The quantification of certain items included in the calculation of GAAP net income 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 the number of shares granted and market price that are not currently ascertainable.
- 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.
- The probable significance of the unavailable information could have a potentially unpredictable and potentially significant impact on future GAAP financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income