Duolingo reached new highs in revenue, users, and bookings last quarter, beating analyst estimates.
Revenue was US$209.6 million last quarter, rising 39% year-over-year and passing analyst projections of US$205.2 million. Duolingo’s full-year revenue was $748 million, up 41%.
“We closed out 2024 with a truly exceptional fourth quarter, achieving our highest ever quarterly bookings, revenue, DAUs, and net new subscribers,” said Duolingo CEO Luis von Ahn. “Our results highlight the continued strength of our product-led strategy and focus on engagement.”
Net income last quarter was US$13.9 million, up from $12.1 million year-over-year. Across 2024, its net income was $88.6 million.
The company’s total bookings were US$271.6 million, a new high and an increase of 42% year-over-year.
Its daily active users grew by 51% year-over-year to reach 40.5 million in Q4. Monthly active users were 116.7 million, up 32%.
Paid subscribers rose by 43% to 9.5 million last quarter, with the proportion of its active users with a paid prescription increasing from 8.3% to 8.8%.
Its guidance for Q1 2025 includes revenue between US$220-223.5 million. Full-year revenue guidance is $962.5-978.5 million.
The company added an artificial intelligence-powered video call feature targeted at users improving their language-speaking skills in September, and ran its first Super Bowl advertising spot earlier this month,
Duolingo’s (NASDAQ: DUOL) share price closed at US$375.78, down from its previous close at $386.56. Its market capitalisation is $16.53 billion.
