NASDAQ$DUOL
Duolingo · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported stellar performance with strong bookings and revenue growth, alongside record profitability.
Duolingo reported a 45% increase in revenue and record profitability in Q1 2024. Total revenue reached $167.6 million, with net income at $27.0 million. The company's strong performance has led to an increased full-year guidance.
- Total bookings increased by 41% year-over-year to $197.5 million.
- Subscription bookings grew by 47% year-over-year to $161.5 million.
- Paid subscribers reached 7.4 million, a 54% increase from the prior year.
- Daily active users (DAUs) increased by 54% year-over-year to 31.4 million, and monthly active users (MAUs) increased by 35% to 97.6 million.
Headline financials
Revenue & EPS history
Duolingo · Revenue · Quarterly
$168M
Revenue by segment
Duolingo · $115M total across 2 segments · Q3 2023
- Subscription bookings$106M+46.7%91.8%
- Other bookings$9.45M+85.9%8.2%
Forward guidance
Duolingo is providing guidance for the second quarter ending March 31, 2024, and updating its guidance for the full year ending December 31, 2024.
Tailwinds
- Second Quarter 2024 Total Bookings: $179.0 million - $181.5 million
- Second Quarter 2024 Revenues: $175.0 million - $177.5 million
- Second Quarter 2024 Adjusted EBITDA: $36.8 million - $39.1 million
- Second Quarter 2024 Adjusted EBITDA Margin: 21% - 22%
- Full Year 2024 Adjusted EBITDA Margin: 23% - 24%
Headwinds
- Full Year 2024 Total Bookings: $808.5 million - $817.5 million
- Full Year 2024 Revenues: $726.5 million - $735.5 million
- Full Year 2024 Adjusted EBITDA: $167.1 million - $176.5 million
- A reconciliation to GAAP net income (loss) has not been provided as the quantification of certain items included in the calculation of GAAP net income (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, and 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.
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 2024
+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 | — | — | — |
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