Duolingo, Inc. ( DUOL ) reported its first-quarter financial results after the bell Wednesday. Here's a look at the details. 

The Details:

Duolingo ( DUOL ) reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 27 cents by 111.11%.

Quarterly sales came in at $167.6 million which beat the analyst consensus estimate of $165.677 million and is a 44.91% increase from the same period last year.

The company reported total bookings were $197.5 million, an increase of 41% from the prior year quarter. Subscription bookings were $161.5 million, an increase of 47% from the prior year quarter.

Paid subscribers totaled 7.4 million, an increase of 54% from the prior year quarter. Daily active users (DAUs) were 31.4 million, an increase of 54% from the prior year quarter and monthly active users (MAUs) were 97.6 million, an increase of 35% from the prior year’s quarter.

“We are pleased to report another quarter of stellar performance, with strong bookings and revenue growth, alongside record profitability,” said Luis von Ahn, CEO of Duolingo ( DUOL ). “Our 54% year-over-year growth in daily active users was driven by a record number of net daily user additions. Our DAU-to-MAU ratio, a measure of user engagement, reached a record high thanks to the thousands of product improvements that have compounded over time.”

Outlook: 

Duolingo ( DUOL ) sees second-quarter revenues of between $175 million and $177.5 million, versus the $176.9 million estimate and full-year 2024 revenues of between $726.5 million and $735.5 million, versus the $728.23 million estimate.

“We believe that we are still in the early stages of our monetization journey, and discovering multiple avenues to enhance bookings. We’re excited about the broader rollout of Duolingo Max, our higher-priced subscription tier, and the strides we’re making to improve our family plan, giving us the confidence to raise our full year guidance,” said von Ahn.

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DUOL Price Action: According to Benzinga Pro, Duolingo ( DUOL ) shares are down 12.1% after-hours at $215.00 at the time of publication Wednesday.

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