DUOL
Duolingo, Inc.186.77
+0.80+0.43%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
AI features to Super tier; risks dismissed.
Q&A detailed Duolingo's offensive push to A/B test video call in the cheaper Super tier as AI costs plunge, potentially metering usage to protect bookings while reaching 10x more users. Management brushed off saturation fears—citing 2% U.S. penetration—and competition, holding 85% language app DAUs. Chess rocketed to 7M DAUs, mostly cross-sell from languages. They'll hunt non-friction monetization via avatar shops and direct ads. Free UX tweaks already boost engagement, but DAU pop comes late-year. Analysts probed risks; answers reaffirmed long-term 100M DAU prize. Q&A adds product specifics.
Key Stats
Market Cap
8.63BP/E (TTM)
23.52Basic EPS (TTM)
7.94Dividend Yield
0%Recent Filings
10-K
FY2025 results
Duolingo crushed FY2025 ended December 31, 2025, with revenues jumping 39% to $1.04B on 133M MAUs (up 14% y/y) and 52.7M DAUs (up 30% y/y), fueled by Q4's subscriber surge to 12.2M (up 28% y/y) as paid penetration hit 9.2%. Subscription bookings soared 36% to $996M while total bookings rose 33% to $1.16B, but gross margins slipped to 72% from AI costs and ad mix shift. Q4 accelerated user retention, lifting DAU/MAU to 40%; R&D jumped 30% on headcount and GenAI. Free cash flow hit $360M. Yet app store reliance (Apple 62% of revenue) risks policy shifts.
8-K
Q4 beat, $400M buyback
8-K
CFO transition announced
Duolingo tapped board member Gillian Munson as CFO effective February 23, 2026, succeeding Matt Skaruppa, who resigned January 8 but stays on for transition through November 2026 at $32,292 monthly. Munson gets $800,000 base and $14M RSU grant vesting over four years. No disagreements triggered the change. Q4 DAUs surged 30% YoY; bookings hit guidance high.
10-Q
Q3 FY2025 results
Duolingo crushed Q3 with revenues up 41% y/y to $271.7M, driven by subscriptions soaring 46% to $229.5M, while gross margin slipped to 72.5% from 72.9% on AI costs. Operating income jumped to $35.2M from $13.6M, boosted by 135M MAUs and 51M paid subscribers up 34%. Cash swelled to $1.0B, with $281M nine-month FCF (derived); closed July 2025 acquisition for $33.1M cash, adding $24.8M goodwill and $8.3M IP. Net income hit $292M on tax benefit, yet stock comp swelled op ex. Solid cash pile. Competition heats up in language apps.
8-K
DAUs top 50M, revenue soars
Duolingo hit 50.5M DAUs in Q3 2025, up 36% YoY, while revenue surged 41% to $271.7M and Adjusted EBITDA climbed 68% to $80.0M with 29.5% margin. Net income ballooned to $292.2M from a $222.7M tax benefit. User growth powers ahead. Guidance raised for FY bookings and EBITDA amid AI teaching investments.
IPO
Website
Employees
Sector
Industry