Duolingo Q3 2023 Earnings Report
Key Takeaways
Duolingo reported a 43% increase in total revenue, reaching $137.6 million, and a significant rise in paid subscribers, totaling 5.8 million. The company's daily active users (DAUs) grew by 63%, and monthly active users (MAUs) increased by 47%. Net income was $2.8 million, a substantial improvement compared to the previous year's net loss.
Total bookings increased by 49% year-over-year to $153.6 million.
Subscription bookings grew by 54% year-over-year to $121.3 million.
Paid subscribers increased by 60% year-over-year, reaching 5.8 million.
DAUs grew by 63% year-over-year, reaching 24.2 million, and MAUs grew by 47% year-over-year, reaching 83.1 million.
Duolingo
Duolingo
Forward Guidance
Duolingo provided updated guidance for the fourth quarter and full year ending December 31, 2023.