NASDAQ$DUOL
Duolingo · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Duolingo's Q4 2022 results demonstrated strong growth, with significant increases in bookings, subscribers, and active users.
Duolingo reported a strong Q4 2022 with a 42% increase in total revenue, driven by growth in subscription bookings and paid subscribers. The company also saw significant growth in daily and monthly active users.
- Total bookings increased by 39% year-over-year to $126.4 million.
- Subscription bookings increased by 44% year-over-year to $100.3 million.
- Paid subscribers increased by 67% year-over-year, reaching 4.2 million.
- Daily active users (DAUs) grew by 62% year-over-year to 16.3 million.
Headline financials
Revenue & EPS history
Duolingo · Revenue · Quarterly
$104M
Revenue by segment
Duolingo · $84.3M total across 2 segments · Q4 2022
- Subscription bookings$78.1M—92.7%
- Other bookings$6.14M—7.3%
Forward guidance
Duolingo provided guidance for Q1 2023 and full year 2023, including total bookings, revenues and adjusted EBITDA.
Tailwinds
- Q1 2023 total bookings are expected to be between $127.5 million and $130.5 million.
- Q1 2023 revenues are expected to be between $111.0 million and $114.0 million.
- Q1 2023 Adjusted EBITDA is expected to be between $10.0 million and $11.4 million.
- Full year 2023 total bookings are expected to be between $530.0 million and $542.0 million.
- Full year 2023 revenues are expected to be between $486.0 million and $498.0 million.
Headwinds
- Full year 2023 Adjusted EBITDA is expected to be between $48.6 million and $59.8 million.
- A reconciliation to GAAP net loss has not been provided as the 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.
- We are unable to address the probable significance of the unavailable information, which 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 Q4 2022
+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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