Business
Duolingo Announces Record Results for Fourth Quarter and Full Year 2021
PITTSBURGH, March 03, 2022 (GLOBE NEWSWIRE) -- Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile learning platform, announced results for the fourth
About this update from Duolingo, Inc.
[{"type":"text","content":"PITTSBURGH, March 03, 2022 (GLOBE NEWSWIRE) -- Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile learning platform, announced results for the fourth quarter and full year ended December 31, 2021 in a shareholder letter that is posted at https://investors.duolingo.com. \"In the fourth quarter, our user growth accelerated and we added more net subscribers than ever before, capping off a year in which our revenue grew by 55%,\" said Luis von Ahn, Co-Founder and CEO of Duolingo. \"I credit this growth and our record-breaking metrics to our focus on making learning fun and effective, and to our new product initiatives that made Duolingo Plus more valuable.” “Looking ahead to 2022, we have exciting plans to make our products even more engaging and valuable for our learners. And we also have plans to continue broadening our offerings beyond languages. I look forward to building upon the progress we’ve made as we strive toward our mission to make the world’s best education universally available.” Fourth Quarter 2021 Highlights Total bookings were $90.8 million, an increase of 59% from the prior year quarter;Subscription bookings were $69.8 million, an increase of 61% from the prior year quarter;Paid Subscribers totaled 2.5 million at year end, an increase of 56% from the prior year;Monthly active users (MAUs) grew 15% to 42.4 million in the fourth quarter and Daily active users (DAUs) grew 20% to 10.1 million, both of which are all-time highs;Total revenues were $73.0 million, an increase of 51% from the prior year quarter;Net loss totaled $17.5 million, compared to a net loss of $10.4 million in the prior year quarter, with the majority of this change driven by stock-based compensation;Adjusted EBITDA was $0.3 million, compared to $2.9 million in the prior year quarter. Full Year 2021 Highlights Total bookings were $294.2 million, an increase of 55% from the prior year;Subscription bookings were $224.5 million, an increase of 56% from the prior year;Total revenues were $250.8 million, an increase of 55% from the prior year;Net loss totaled $60.1 million, compared to a net loss of $15.8 million in the prior year, with the majority of this change driven by IPO-related stock-based compensation and other IPO costs;Adjusted EBITDA was a loss of $1.1 million, compared to income of $3.6 million in the prior year. Financial and Operati...