Summary by Moomoo AI
Duolingo reported robust financial results for Q3 2024, with total revenue increasing 40% year-over-year to $192.6 million. Subscription revenue, which accounted for 82% of total revenue, grew 49% to $157.6 million. The company achieved a net income of $23.4 million, significantly up from $2.8 million in Q3 2023.Monthly Active Users (MAUs) grew 36% year-over-year to 113.1 million, while Daily Active Users (DAUs) increased 54% to 37.2 million, demonstrating strong user engagement with a DAU/MAU ratio of 32.9%. Paid subscribers reached 8.6 million, up 47% from the prior year period, reflecting successful monetization efforts.The company maintained strong operational efficiency with gross margin at 72.9%. Adjusted EBITDA more than doubled to $47.5 million from $22.5 million in Q3 2023, while free cash flow increased to $52.7 million from $33.5 million. The company ended the quarter with a robust cash position of $854.4 million.
