Duolingo Q4 Earnings: Revenue Beat, EPS Beat, Engagement Growth, Strong Guidance

benzinga_article
2024.02.28 22:02
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Duolingo reported strong Q4 earnings, surpassing revenue and EPS estimates. The company saw significant growth in total bookings, paid subscribers, daily active users, and monthly active users. The CEO expressed satisfaction with the exceptional performance and highlighted plans to focus on user satisfaction, subscriber growth, and global expansion. Duolingo's stock price rose by 21.2% in after-hours trading.

Duolingo Inc (NASDAQ:DUOL) shares are trading higher in Wednesday’s after-hours session on the heels of the company’s fourth-quarter financial results.

  • Q4 Revenue: $150.99 million, beat estimates of $148.09 million
  • Q4 EPS: 26 cents, beat estimates of 15 cents

Duolingo ended the quarter with $191 million in total bookings, up 51% on a year-over-year basis. Paid subscribers jumped 57% year-over-year to 6.6 million. The company had 26.9 million daily active users during the quarter, up 65% year-over-year, and 88.4 million monthly active users, up 46% year-over-year.

“2023 was an exceptional year that exceeded our own high expectations. It was capped off with a very strong Q4 that saw us achieve record bookings, revenue and profitability,” said Luis von Ahn, co-founder and CEO of Duolingo.

“We accelerated DAU growth in each quarter of 2023, and in Q4 achieved record-high user engagement and a record number of subscribers.”

Outlook: Duolingo sees first-quarter revenue in the range of $164 million to $167 million versus estimates of $159.238 million, according to Benzinga Pro. Full-year revenue is expected to be between $717.5 million and $729.5 million versus estimates of $699.096 million.

“In 2024, we’ll remain relentlessly focused on the same strategy: delighting our users, growing subscribers, teaching better and scaling our mission to more learners around the world,” the company said.

Duolingo will hold a conference call to discuss these results at 5:30 p.m. ET.

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DUOL Price Action: Duolingo shares were up 21.2% after hours at $237 at the time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.

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