Business
Duolingo Hits 100M MAUs, Reports 59% DAU growth and 41% Revenue Growth in Second Quarter 2024
PITTSBURGH, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile learning platform, announced results for the second
About this update from Duolingo, Inc.
[{"type":"text","content":"PITTSBURGH, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile learning platform, announced results for the second quarter ended June 30, 2024 in a shareholder letter that is posted at investors.duolingo.com. \"We achieved significant milestones in the second quarter, surpassing 100 million MAUs and reporting 8 million subscribers,” said Luis von Ahn, Co-Founder and CEO of Duolingo. “Our user growth accelerated, and we saw record levels of engagement. Over 20% of our DAUs now have streaks longer than a year. We have also made steady progress on our strategic priorities — driving increased family plan penetration and the broader roll out of Duolingo Max. We expect these initiatives to show more impact in the coming quarters and support our long-term monetization strategy.” Second Quarter 2024 Highlights Total bookings were $190.1 million, an increase of 38% from the prior year quarter;Subscription bookings were $156.5 million, an increase of 47% from the prior year quarter;Paid subscribers totaled 8.0 million at quarter end, an increase of 52% from the prior year quarter;Daily active users (DAUs) were 34.1 million, an increase of 59% from the prior year quarter and monthly active users (MAUs) were 103.6 million, an increase of 40% from the prior year quarter;Total revenues were $178.3 million, an increase of 41% from the prior year quarter;Net income was $24.4 million, compared to $3.7 million in the prior year quarter;Adjusted EBITDA was $48.1 million, compared to $20.9 million in the prior year quarter, a 27.0% versus 16.5% Adjusted EBITDA margin, respectively;Cash flow from operating activities was $62.4 million compared to $37.2 million in the prior year quarter, and free cash flow was $54.9 million compared to $34.3 million in the prior year quarter. Financial and Key Operating Metrics The following table summarizes our financial and operating highlights for the quarters ended June 30, 2024 and 2023: Three Months Ended June 30, (In millions)2024 2023 % ChangeOperating Metrics Monthly active users (MAUs)103.6 74.1 40%Daily active users (DAUs)34.1 21.4 59%Paid subscribers (at period end)8.0 5.2 52% Three Months Ended June 30, (In thousands) 2024 2023 % ChangeOperating Metrics Subscription bookings$156,484 $106,254 47%Total bookings$190,092 $137,539 38% Financial Measures Total revenues ...