Duolingo (DUOL) shares jumped around 10% in early Thursday trading after the company reported quarterly earnings and guidance above consensus expectations.
The company reported Q3 EPS of $0.06, $0.14 better than the analysts' estimate of ($0.08), while revenue for the quarter came in at $153.6 million, up 43% YoY and well above the consensus estimate of $132.15 million.
Total bookings in the quarter were $153.6 million, rising 49% from the prior-year quarter, while subscription bookings were $121.3 million, an increase of 54%.
Furthermore, paid subscribers totaled 5.8 million at quarter end, a 60% increase YoY, with monthly active users (MAUs) at 83.1 million, representing a 47% jump from last year. Daily active users (DAUs) came in at 24.2 million.
"We exceeded our own high expectations this quarter, accelerating user growth and delivering impressive bookings and revenue growth,” said Luis von Ahn, Co-Founder and CEO of Duolingo.
Looking ahead, DUOL sees Q4 2023 revenue from $145 to $148 million, versus the consensus of $140.87 million, with revenue for FY2023 expected to be between $525 and $528 million, versus the consensus of $515 million.