By Davit Kirakosyan
Duolingo (DUOL) shares fell more than 4% after-hours despite the company reporting better-than-expected and raising its full-year outlook.
Q3 EPS came in at ($0.46), better than the consensus estimate of ($0.55). Total revenues grew 51% year-over-year to $96.1 million, compared to the consensus estimate of $94.52M.
Total bookings were up 41% year-over-year to $102.7M. Subscription bookings grew 42% year-over-year to $78.9M. Paid Subscribers totaled 3.7M at quarter end, representing a 68% year-over-year growth. Monthly active users (MAUs) grew 35% year-over-year to 56.5M and Daily active users (DAUs) grew 51% year-over-year to 14.9M.
“Our results this quarter speak volumes – 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,” said Luis von Ahn, Co-Founder and CEO of Duolingo.
The company expects Q4/22 revenue to be in the range of $98-101M, compared to the consensus estimate of $100.44M. For the full 2022 year, the company expects revenue in the range of $364-367M, compared to the consensus of $365.3M.
Story Credit: investing.com