Duolingo Inc (DUOL) shares surged 22.7% in after-hours trading following the release of its fourth-quarter financial results.
In Q4, Duolingo reported revenue of $150.99 million, exceeding estimates of $148.09 million, with earnings per share (EPS) at 26 cents, surpassing estimates of 15 cents. Total bookings reached $191 million, marking a 51% increase year-over-year, while paid subscribers soared by 57% to 6.6 million. Moreover, daily active users (DAU) rose by 65% to 26.9 million, and monthly active users (MAU) grew by 46% to 88.4 million.
CEO Luis von Ahn expressed satisfaction with the company’s performance, highlighting record-high user engagement and subscriber numbers.
Looking ahead, Duolingo projects first-quarter revenue between $164 million and $167 million, and full-year revenue expected to range from $717.5 million to $729.5 million, reflecting continued growth momentum.
Von Ahn reiterated the company’s commitment to user satisfaction, subscriber growth, and global educational impact in 2024.
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