Duolingo Inc DUOL shares are trading higher by 7.78% to $97.85 during Tuesday's after-hours session. The company reported better-than-expected fourth-quarter financial results.
What Happened: Duolingo reported quarterly losses of 35 cents per share, which beat the analyst consensus estimate of a loss of 53 cents by 33.96 percent. The company also reported quarterly sales of $103.82 million, beating the analyst consensus estimate of $99.89 million. This sales figure is a 42.2% percent increase over sales of $73.01 million in the same period last year.
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The company says total bookings were $126.4 million for the fourth quarter 2022, an increase of 39% from the prior year quarter. Meanwhile, monthly active users (MAUs) grew 43% to 60.7 million in the fourth quarter 2022 from the prior year quarter and daily active users (DAUs) grew 62% to 16.3 million from the prior year quarter.
What Else: "Our 2022 results were extraordinary, even relative to the lofty expectations we had for ourselves, with revenue growing by 47%, and cash from operations increasing by over $44 million from last year," said Luis von Ahn, Co-Founder and CEO of Duolingo.
"We enter 2023 in a great position to continue our momentum. The infrastructure we've built has driven our innovation and operating efficiency, and is poised to help us deliver higher incremental profits this year and beyond."
According to data from Benzinga Pro, DUOL has a 52-week high of $113.36 and a 52-week low of $60.50.
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