By Sam Boughedda
Investing.com -- Duolingo Inc (NASDAQ:DUOL) jumped 18% in extended trading after reporting fourth-quarter results, beating earnings and revenue expectations.
The language learning company announced a loss per share of 46 cents on revenue of $73 million. Analysts polled by Investing.com anticipated a loss of 57 cents a share on revenue of $68.95 million.
Revenue increased 51% from the prior year's quarter, while total bookings were $90.8 million, an increase of 59% from the prior-year quarter.
Furthermore, subscription bookings were $69.8 million, an increase of 61% from the previous year, paid subscribers totaled 2.5 million at year-end, an increase of 56%, monthly active users grew 15% to 42.4 million in the fourth quarter and daily active users grew 20% to 10.1 million, both of which are all-time highs.
Full-year revenues were $250.8 million, an increase of 55% from the prior year. Total bookings for the year were $294.2 million.
"In the fourth quarter, our user growth accelerated and we added more net subscribers than ever before, capping off a year in which our revenue grew by 55%," said Luis von Ahn, co-founder and CEO of Duolingo. "I credit this growth and our record-breaking metrics to our focus on making learning fun and effective, and to our new product initiatives that made Duolingo Plus more valuable.”
Duolingo sees first quarter 2022 revenue between $75.5 million and $78.5 million, with total bookings between $92 million and $95 million. Full-year revenue is forecasted to be from $332 million to $342 million, with total bookings in a range of $372 million to $382 million.
“Looking ahead to 2022, we have exciting plans to make our products even more engaging and valuable for our learners. And we also have plans to continue broadening our offerings beyond languages," added von Ahn.