Duolingo Announces Second Quarter 2021 Results

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[{"type":"text","content":"PITTSBURGH, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile language platform, today announced financial results for the quarter ended June 30, 2021. \"Our recent IPO was a significant milestone in our journey to develop the best education in the world and make it universally available,\" said Luis von Ahn, Co-Founder and CEO of Duolingo. \"This mission has not changed since we launched Duolingo nearly ten years ago and we have kept our focus on reaching new users, increasing engagement and growing subscribers. We were pleased to see that our monthly and daily active users in Q2 were comparable to last year, despite comparing against an extraordinary Q2 2020 when a record number of learners used Duolingo during the lockdowns. We are also pleased to see the strong growth in paid subscribers as more learners around the world engaged with our premium offering. We had nearly 40 million monthly users and close to 2 million subscribers at the end of June and we believe we can drive user growth from this higher base as we continue to invest in the business.” Second Quarter 2021 Operational Highlights Total bookings were $64.5 million, an increase of 30% from the prior year quarter;Subscription bookings were $48.9 million, an increase of 34% from the prior year quarter;Monthly active users (MAUs) were 37.9 million, a decrease of 3% from the prior year quarter;Daily active users (DAUs) were 9.1 million, an increase of 2% from the prior year quarter;Paid Subscribers totaled 1.9 million at quarter end, an increase of 46% from the prior year. Second Quarter 2021 Financial Highlights Total revenues were $58.8 million, an increase of 47% from prior year quarter;Gross Profit was $42.7 million, an increase of 51% from the prior year quarter;Net loss totaled $176 thousand, as compared to net income of $40 thousand in the prior year quarter;Adjusted EBITDA was $3.7 million, an increase of $1.4 million from the prior year quarter. Financial Outlook Duolingo is providing the following guidance for the third quarter and year ending December 31, 2021. Third Quarter 2021 Full Year 2021(in millions)Low High Low High Total Bookings$63.0 $66.0 $267 $273 Revenues$58.5 $61.5 $236 $242 Adjusted EBITDA$(12.0) $(8.0) $(14) $(8) With regards to the Non-GAAP Adjusted EBITDA outlook provided above, a reconciliation to ...

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