Welcome to our dedicated page for Duolingo news (Ticker: DUOL), a resource for investors and traders seeking the latest updates and insights on Duolingo stock.
Duolingo, Inc. (Symbol: DUOL) is a pioneering American educational technology company dedicated to language learning and certification. Founded with the mission to make high-quality education universally accessible, Duolingo has grown into the top-grossing app in the Education category on both Google Play and the Apple App Store.
Duolingo offers a range of products designed to make learning engaging and effective. Its flagship product, The Duolingo Language Learning App, allows users to practice vocabulary, grammar, pronunciation, and listening skills through spaced repetition. The app also includes gamified elements such as streaks and leaderboards to keep learners motivated. Super Duolingo offers an ad-free experience with additional features, enhancing the learning journey for subscribers.
In addition to its language learning app, Duolingo has developed several other products:
- Duolingo English Test: An AI-driven language assessment tool recognized by institutions worldwide.
- Duolingo For Schools: A platform that enables teachers to track and manage their students' progress.
- Duolingo ABC: Focused on helping young children learn to read and write.
- Duolingo Math: Recently updated to include advanced real-world math skills, it enhances mental math abilities.
Duolingo's newest addition, the Music course, teaches foundational music theory through interactive lessons. This course aims to bridge the gap for the 3.6 million students in the U.S. who lack access to music education.
Financially, Duolingo has been thriving. The company reported record bookings, revenue, and profitability in 2023, driven by strong user engagement and subscriber growth. Duolingo's revenue streams include time-based subscriptions, in-app advertising, and the Duolingo English Test.
CEO Luis von Ahn emphasizes the company's commitment to product excellence and innovation, revealing that Duolingo's strategy in 2024 will focus on user delight, subscriber growth, and expanding its mission globally. The company's robust financial outlook and strategic alliances further solidify its leadership in the educational technology sector.
With an unwavering focus on leveraging technology to enhance learning experiences, Duolingo continues to set the standard for mobile education. For more information or to begin your learning journey, visit www.duolingo.com.
Duolingo (Nasdaq: DUOL) announced that it will release its second quarter 2024 financial results on August 7, 2024, after the U.S. market closes. The company will host a video webcast to discuss the results at 5:30 p.m. ET, accessible via Duolingo's Investor Relations website. A replay will be available two hours post-event and archived for a year.
Duolingo (Nasdaq: DUOL), a leading mobile learning platform, has acquired Hobbes, a Detroit-based animation and motion design studio.
This is Duolingo’s second acquisition after Gunner, another Detroit-based studio acquired in 2022.
The acquisition aims to enhance Duolingo’s design capabilities, particularly in motion design which is critical to making its products engaging.
Hobbes will integrate twelve new designers, animators, and creative directors into Duolingo’s teams, nearly doubling the size of Duolingo’s Detroit office.
Hobbes has been a key partner in developing features for Duolingo Music and other design systems.
Both companies believe this collaboration will lead to more engaging and effective learning experiences for users.
Duolingo (Nasdaq: DUOL) has appointed Mario Schlosser, co-founder and Chief Technology Officer of Oscar Health, to its Board of Directors. Schlosser brings a wealth of experience from his roles at Oscar Health, Bridgewater Associates, and McKinsey & Company. His expertise in AI and consumer technology, along with his leadership in growing Oscar Health to over a million members, makes him a significant asset for Duolingo. Schlosser’s academic credentials include a computer science degree from the University of Hannover and an MBA from Harvard Business School. This strategic board addition aims to leverage Schlosser's technology and AI background to further Duolingo’s mission of providing top-tier, accessible education worldwide.
Duolingo, Inc. (NASDAQ: DUOL) reported a 45% revenue growth and record profitability in the first quarter of 2024, with total bookings of $197.5 million, an increase of 41% from the prior year quarter. Paid subscribers reached 7.4 million, a 54% increase. The company saw a 54% year-over-year growth in daily active users, reaching 31.4 million DAUs. Net income was $27.0 million compared to a net loss of $2.6 million in the prior year quarter. Adjusted EBITDA was $44.0 million, a significant increase from $15.1 million in the prior year quarter. Duolingo raised its full-year guidance, citing confidence in product improvements and the rollout of higher-priced subscription tiers.
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