Duolingo

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.

0504 | Dolphin Research Focus: 🐬 Stock 1, $XIAOMI-W(01810.HK) jumped over 10% intraday after Xiaomi Auto delivered 30k units in Apr. (+50% MoM). Locked-in orders for the new SU7 topped 70k.

Recovering deliveries and strong order intake validate market acceptance, supporting the full-year target of 550k vehicles. The strong share move also reflects a re-rating of the 'smartphone + AIoT + auto' strategy, lifting sentiment across the supply chain.

Focus now shifts to the capacity ramp and execution on order fulfillment. Follow-through will depend on these milestones...

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.

0226 | Dolphin Research focus: 🐬 Stock 1, $Alibaba(BABA.US). Alibaba Cloud Bailian launched the 'Coding Plan', integrating APIs for four mainstream models — Qwen3.5, GLM-5, MiniMax M2.5 and Kimi K2.5 — making it the only cloud provider globally to offer this combo.

Lite plan is priced at RMB 7.9 for the first month and RMB 40 for the second; Pro plan at RMB 39.9 for the first month and RMB 200 for the second, with free model switching. The aim is to lower AI coding barriers through aggressive pricing and full-stack model coverage...

0212 | Dolphin Research Focus: 🐬 Macro/Industry 1) Doubao announced that its video-generation model Seedance 2.0 is now integrated into the Doubao app, desktop client, and web version. Users can create 5s/10s short videos from text prompts and produce clone-style videos, with upgrades to image quality, generation speed, and content fidelity. Leveraging ByteDance's ecosystem should accelerate user adoption and engagement, pushing AIGC toward mainstream, practical use...

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%...

1105 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. China has made adjustments to its tariff policy on the United States, announcing the suspension of the previously imposed 24% tariff rate on certain imported goods originating from the United States, while retaining the 10% additional tariff rate. The policy adjustment focuses on balancing trade costs and domestic demand, specifically covering a range of goods including machinery and electronic components. In the short term, the policy will alleviate market concerns about the 'escalation of the tariff war,' while in the long term, further adjustments to tariffs will need to be assessed based on the progress of Sino-US economic and trade negotiations...

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...

$Duolingo(DUOL.US) released its Q2 2025 earnings after the market closed on August 6th, Eastern Time. Before the earnings report, the market was concerned about the decline in active users. Although the actual MAU did show some weakness, the user retention was very high, and the paid conversion rate increased, resulting in revenue exceeding expectations. Key points of the performance: 1. AI-related public opinion issues affected customer acquisition: In the second quarter, Duolingo was impacted by negative AI-related public opinion (in April, executives claimed AI-first, coupled with the controversy over voice actors' pay cuts, and the official account's sharp response, which caused public dissatisfaction). The company took measures to protect its brand image...