Duolingo

$Duolingo(DUOL.US) Q3 results were broadly in line, and signs of an operating inflection are emerging. These warrant attention.

Q3 DAU YoY growth accelerated to 29% from 23% in Q2, and Q4 bookings growth guidance is +13%, slightly above prior guidance.

Q2 DAU rose 23% YoY, with growth accelerating vs. Q1. The full-year Adj. EBITDA margin target was raised to 26.5% from 25%.

Below is Dolphin Research Trans for $Duolingo(DUOL.US) FY26Q1 earnings call. For our earnings take, see 'Duolingo: inching forward, Duo's turnaround won't be easy'.

As the first quarter under the new strategy, and against muted expectations, $多邻国 (DUOL.US) delivered broadly in-line Q1 results. Management kept FY guidance cautious, seemingly to retain flexibility.

Below is Dolphin Research's Trans of $Duolingo(DUOL.US) FY25 Q4 earnings call. For the earnings analysis, cf. 'Duolingo: Guidance bomb again—has the green bird turned into Dead Duo?'

$Duolingo(DUOL.US) reported Q4 FY2025 results after market close on Feb. 26 (ET), another guidance bomb.

The following are the 3Q25 earnings call minutes of $Duolingo(DUOL.US) organized by Dolphin Research. For financial report interpretation, please refer to "Duolingo: Weak Guidance + Uncertainty of Short-term Changes, the Green Bird Falls from the High Valuation Altar." I. Key Financial Indicators II. Management Report We achieved excellent results in the third quarter, with all indicators performing steadily. This year, we are expected to create outstanding results once again. Currently, more than 50 million people use Duolingo daily. We expect user registrations to reach nearly 1.2 billion this year, with a year-on-year growth rate of 33%...

$Duolingo(DUOL.US) released its third-quarter 2025 earnings after the market closed on November 5th, Eastern Time. Due to fourth-quarter guidance falling short of expectations (implying a significant slowdown in growth), the company simultaneously stated its intention to make new investments and product changes from a long-term perspective. The core focus shifted from more direct monetization and profit-related metrics (such as paid rate and EBITDA margin improvement pace) to user growth across the ecosystem (MAU, DAU), leading to market uncertainty regarding future monetization performance growth. Following Duolingo's earnings release, the stock price fell by over 20%...

The following is a summary of the Q2 2025 earnings call for $Duolingo(DUOL.US) organized by Dolphin Research. For an interpretation of the earnings report, please refer to the article "Duolingo: User Growth Under Pressure, High Ecosystem Stickiness Alleviates Monetization Concerns."

1. Overview of Financial Metrics

2. Q&A

Q: The daily active user (DAU) growth in the second quarter was strong but showed some deceleration. What were the main driving factors behind this, and how does the company view the user growth trend for the full year and the second half of the year?

A: The DAU in the second quarter increased by 40% year-over-year, which is within the guidance range of 40%-45%, although slightly below expectations...