Business
Duolingo Reports 62% DAU Growth; Record Bookings and Revenue in Fourth Quarter and Full Year 2022
PITTSBURGH, Feb. 28, 2023 (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, Feb. 28, 2023 (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, 2022 in a shareholder letter that is posted at investors.duolingo.com. “Our 2022 results were extraordinary, even relative to the lofty expectations we had for ourselves, with revenue growing by 47%, and cash from operations increasing by over $44 million from last year,” said Luis von Ahn, Co-Founder and CEO of Duolingo. “We enter 2023 in a great position to continue our momentum. The infrastructure we've built has driven our innovation and operating efficiency, and is poised to help us deliver higher incremental profits this year and beyond.” “And we are excited to announce the launch of Duolingo Max, a higher tier subscription that harnesses the power of generative AI. Duolingo Max will give our subscribers an even more engaging way to learn by chatting with Duolingo characters and receiving personalized explanations of their mistakes.” Fourth Quarter 2022 Highlights Total bookings were $126.4 million, an increase of 39% from the prior year quarter;Subscription bookings were $100.3 million, an increase of 44% from the prior year quarter;Paid Subscribers totaled 4.2 million at quarter end, an increase of 67% from the prior year quarter;Monthly active users (MAUs) grew 43% to 60.7 million from the prior year quarter and Daily active users (DAUs) grew 62% to 16.3 million from the prior year quarter;Total revenues were $103.8 million, an increase of 42% from the prior year quarter;Net loss totaled $13.9 million, compared to a net loss of $17.5 million in the prior year quarter;Adjusted EBITDA was $5.2 million, compared to an Adjusted EBITDA of $0.3 million in the prior year quarter. Full Year 2022 Highlights Total bookings were $428.6 million, an increase of 46% from the prior year;Subscription bookings were $331.8 million, an increase of 48% from the prior year;Total revenues were $369.5 million, an increase of 47% from the prior year;Net loss totaled $59.6 million, compared to a net loss of $60.1 million in the prior year;Adjusted EBITDA was $15.5 million, compared to an Adjusted EBITDA loss of $1.1 million in the prior year. Financial and Key Operating Metrics The following table summarizes our financial and operating highlights for ...