Duolingo Q3 2024 Earnings Report
Key Takeaways
Duolingo reported a strong third quarter in 2024, with significant increases in daily active users (DAUs), paid subscribers, and total revenue. Total revenues increased by 40% year-over-year, and the company saw a substantial rise in net income.
Total bookings increased by 38% year-over-year, reaching $211.5 million.
Subscription bookings grew by 45% year-over-year, totaling $176.3 million.
Paid subscribers increased by 47% year-over-year, reaching 8.6 million.
Daily active users (DAUs) grew by 54% year-over-year, reaching 37.2 million, and monthly active users (MAUs) grew by 36% year-over-year, reaching 113.1 million.
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Duolingo Revenue by Segment
Forward Guidance
Duolingo provided guidance for the fourth quarter and updated its full year guidance for 2024. The company expects total bookings between $244.5 million and $247.5 million for the fourth quarter and between $843.5 million and $846.5 million for the full year. Revenues are expected to be between $202.5 million and $205.5 million for the fourth quarter and between $741.0 million and $744.0 million for the full year. Adjusted EBITDA is projected to be between $48.6 million and $50.8 million for the fourth quarter and between $188.3 million and $190.4 million for the full year.
Positive Outlook
- Total bookings are projected to be between $244.5 million and $247.5 million for Q4 2024.
- Full year total bookings are expected to range from $843.5 million to $846.5 million.
- Q4 2024 revenues are forecasted to be between $202.5 million and $205.5 million.
- Full year revenues are projected to be between $741.0 million and $744.0 million.
- Adjusted EBITDA for Q4 2024 is expected to be between $48.6 million and $50.8 million.