![]() ![]() ![]() “As we continue to grow users, we are finding them more engaged and see more of them subscribing to Super Duolingo, resulting in record bookings and revenue,” Ahn said. There are currently 36 different languages available to learn in the app, with basic lessons for beginners and more advanced instruction for those who already have some knowledge of the target language.ĭuolingo co-founder and Chief Executive Luis von Ahn (pictured) said the company’s quarterly results speak volumes about the value it offers. The company’s application is free to use and works on most kinds of devices and focuses on four types of language skills - reading, writing, speaking and listening. Because everything is gamified, Duolingo becomes fun and encourages students to keep learning, even outside of the classroom. Students create a cartoon avatar character and then navigate through a series of learning games, earning rewards for doing so and learning as they progress. The company’s stock fell by more than 2% in extended trading, having jumped by more than 10% during the regular trading session earlier in the day.ĭuolingo is the creator of a gamified language learning tool that can be used by students and teachers to provide a more engaging learning experience. Bookings, a representation of the money committed to flow into a business, are a key indicator of a product’s demand and the market’s response. The results surpassed Wall Street’s expectations, with analysts targeting a bigger loss of 55 cents per share on slightly lower revenue of $95.3 million.ĭuolingo also reported $102.7 million in bookings, up 41% from a year ago. Revenue for the period jumped 41%, to $96.1 million. The company reported a loss before certain costs such as stock compensation of 46 cents per share, improving from the 98-cent loss it posted a year earlier. managed to beat Wall Street’s expectations for its third-quarter financial results, but its stock fell slightly in after-hours trading. ![]()
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