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Dec 31, 2022
Duolingo Q4 2022 Earnings Report
Duolingo's Q4 2022 results demonstrated strong growth, with significant increases in bookings, subscribers, and active users.
Key Takeaways
Duolingo reported a strong Q4 2022 with a 42% increase in total revenue, driven by growth in subscription bookings and paid subscribers. The company also saw significant growth in daily and monthly active users.
Total bookings increased by 39% year-over-year to $126.4 million.
Subscription bookings increased by 44% year-over-year to $100.3 million.
Paid subscribers increased by 67% year-over-year, reaching 4.2 million.
Daily active users (DAUs) grew by 62% year-over-year to 16.3 million.
Duolingo
Duolingo
Duolingo Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Duolingo provided guidance for Q1 2023 and full year 2023, including total bookings, revenues and adjusted EBITDA.
Positive Outlook
- Q1 2023 total bookings are expected to be between $127.5 million and $130.5 million.
- Q1 2023 revenues are expected to be between $111.0 million and $114.0 million.
- Q1 2023 Adjusted EBITDA is expected to be between $10.0 million and $11.4 million.
- Full year 2023 total bookings are expected to be between $530.0 million and $542.0 million.
- Full year 2023 revenues are expected to be between $486.0 million and $498.0 million.
Challenges Ahead
- Full year 2023 Adjusted EBITDA is expected to be between $48.6 million and $59.8 million.
- A reconciliation to GAAP net loss has not been provided as the quantification of certain items included in the calculation of GAAP net 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.
- 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.
- We are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income