NASDAQ$DUOL
Duolingo · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Duolingo experienced strong user and revenue growth alongside increased profitability.
Duolingo reported a strong first quarter in 2023, with significant growth in DAUs, revenue, and paid subscribers. The company also saw increased profitability and raised its full-year guidance.
- Total bookings increased by 37% year-over-year to $140.1 million.
- Subscription bookings grew by 40% year-over-year to $110.1 million.
- Paid subscribers increased by 63% year-over-year, reaching 4.8 million.
- Total revenues increased by 42% year-over-year to $115.7 million.
Headline financials
Revenue & EPS history
Duolingo · Revenue · Quarterly
$116M
Revenue by segment
Duolingo · $94.1M total across 2 segments · Q1 2023
- Subscription bookings$86.2M+48.6%91.6%
- Other bookings$7.87M+132.7%8.4%
Forward guidance
Duolingo provided guidance for the second quarter and full year 2023. Second quarter total bookings are expected to be between $128.0 million and $131.0 million. Second quarter revenues are expected to be between $122.0 million and $125.0 million. Second quarter Adjusted EBITDA is expected to be between $13.4 million and $15.0 million. Full year total bookings are expected to be between $552.0 million and $561.0 million. Full year revenues are expected to be between $500.0 million and $509.0 million. Full year Adjusted EBITDA is expected to be between $55.0 million and $61.0 million.
Tailwinds
- Second Quarter 2023 Total Bookings are expected to be between $128.0 million and $131.0 million.
- Second Quarter 2023 Revenues are expected to be between $122.0 million and $125.0 million.
- Second Quarter 2023 Adjusted EBITDA is expected to be between $13.4 million and $15.0 million.
- Full Year 2023 Total Bookings are expected to be between $552.0 million and $561.0 million.
- Full Year 2023 Revenues are expected to be between $500.0 million and $509.0 million.
Headwinds
- Quantification of certain items included in the calculation of GAAP net loss cannot be calculated or predicted at this time without unreasonable efforts.
- The non-GAAP adjustment for stock-based compensation expenses related to equity awards requires additional inputs such as number of shares granted and market price that are not currently ascertainable.
- The non-GAAP adjustment for certain legal, tax and regulatory reserves and expenses depends on the timing and magnitude of these expenses and cannot be accurately forecasted.
- Duolingo is unable to address the probable significance of the unavailable information.
- The unavailable information could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+5.3%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+9.4%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+42.5%
Q1 2022
Best reaction
-25.5%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -3.0% | -4.7% | |
| Q4 2025 | +12.0% | -18.1% | -18.8% | |
| Q3 2025 | -25.5% | -25.0% | -23.2% | |
| Q1 2025 | +21.6% | +23.9% | +29.9% | |
| Q4 2024 | -17.0% | -22.1% | -16.2% | |
| Q3 2024 | +4.2% | +5.0% | +21.6% | |
| Q2 2024 | +8.4% | +10.1% | +26.2% | |
| Q1 2024 | -19.4% | -27.3% | -24.1% | |
| Q4 2023 | +22.8% | +15.5% | +13.4% | |
| Q3 2023 | +23.4% | +29.7% | +30.5% | |
| Q2 2023 | +3.4% | -0.9% | +11.5% | |
| Q1 2023 | +12.0% | +7.3% | +19.4% | |
| Q4 2022 | +24.7% | +34.0% | +52.8% | |
| Q3 2022 | -4.6% | -4.1% | -10.8% | |
| Q2 2022 | -1.4% | -5.9% | -11.2% | |
| Q1 2021 | +27.1% | +18.5% | +39.4% | |
| Q1 2022 | +42.5% | +29.0% | +48.2% | |
| Q4 2021 | -3.0% | +3.9% | +24.3% | |
| Q3 2020 | -7.3% | -6.8% | -36.8% | |
| Q3 2021 | +3.3% | -4.3% | -34.8% | |
| Q2 2020 | +0.5% | -1.8% | +27.5% | |
| Q4 2020 | +0.5% | -1.8% | +27.5% | |
| Q2 2021 | -4.4% | -3.6% | +23.8% | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro