
Duolingo guided to a strong 2025, prioritizing user growth and engagement over near-term monetization. For Q3, Duolingo reported revenue of $271.7 million (41% YoY growth, beating consensus) and EPS of $5.95 (vs. $0.76 consensus), with daily active users (DAUs) exceeding 50 million, up 36% YoY.
Bullish
The Chess course is now Duolingo’s fastest-growing subject, with retention slightly higher than language learning and over 1 million DAUs as of Q2.
Bearish
The shift toward user growth may weigh on near-term bookings, with Q4 bookings guidance disappointing investors.