NASDAQ$DUOL
Duolingo · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Achieved record bookings and a record number of paid subscribers, with monthly and daily users also reaching all-time highs.
Duolingo's Q3 2021 saw a 40% increase in total revenues to $63.6 million, driven by subscription revenue growth. Total bookings increased by 57% to $73.1 million and paid subscribers reached 2.2 million, a 49% increase. However, the company experienced a net loss of $29.0 million, compared to a net loss of $3.2 million in the prior year quarter, largely due to IPO-related costs.
- Total revenues increased 40% year-over-year to $63.6 million.
- Total bookings were $73.1 million, up 57% year-over-year.
- Paid subscribers totaled 2.2 million, a 49% increase from the prior year quarter.
- Net loss totaled $29.0 million, primarily due to IPO-related costs.
Headline financials
Revenue & EPS history
Duolingo · Revenue · Quarterly
$63.6M
Revenue by segment
Duolingo · $47.9M total across 2 segments · Q3 2021
- Subscription bookings$46M+42.4%96.2%
- Other bookings$1.84M+178.5%3.8%
Forward guidance
Duolingo provided guidance for the fourth quarter and full year ending December 31, 2021.
Tailwinds
- Fourth Quarter 2021 Total Bookings: Low $79.0 million, High $82.0 million
- Fourth Quarter 2021 Revenues: Low $66.5 million, High $69.5 million
- Fourth Quarter 2021 Adjusted EBITDA: Low $(6.5) million, High $(3.5) million
- Full Year 2021 Total Bookings: Low $282.5 million, High $285.5 million
- Full Year 2021 Revenues: Low $244.0 million, High $247.0 million
Headwinds
- Fourth Quarter 2021 Adjusted EBITDA: Low $(6.5) million, High $(3.5) million
- Full Year 2021 Adjusted EBITDA: Low $(8.0) million, High $(5.0) million
- Reconciliation to GAAP net earnings (loss) has not been provided
- Quantification of certain items included in the calculation of GAAP net earnings (loss) cannot be calculated or predicted at this time without unreasonable efforts
- Non-GAAP adjustment for stock-based compensation expense requires additional inputs such as number of shares granted and market price that are not currently ascertainable
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 Q3 2021
+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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