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Duolingo Inc. just shattered earnings while having a beneficial social effect at the same time
Although the tech-centric Nasdaq-100 index is currently in a bear market state after falling 28% from its all-time high, there are plenty of individual businesses in the technology sector that are providing marvellous operational results.
According to DUOL, 1.8 billion individuals across the globe are learning a second language and the possibility to educate them digitally might be worth as much as $47 billion by 2025. With the highest-grossing mobile app in the education category on both the Apple App Store and Alphabet's Google Play Store, the firm is already leading the charge.
DUOL's monthly active users (MAU) increased by 23% year over year to 49.2 million in the first quarter of 2022 but the number of users who pay a subscription to unlock extra features is growing much faster.
6.8% of DUOL's MAU now pay to improve their educational experience, which is a new high. The reason being is that the pace at which existing users pay is rising faster than the rate at which DUOL adds new users, this could cause the company's revenue growth to accelerate rapidly in the future. Sales increased 47% to $81 million in the quarter, while bookings increased 55% to $102 million, all of which are new highs for the firm. Bookings are an important indicator to track since they might indicate income that DUOL expects to generate in the future.
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