---
schema_version: "secwatch.filing_event.v1"
accession: "0001562088-23-000101"
form_type: "8-K"
ticker: "DUOL"
cik: "0001562088"
company_name: "Duolingo, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:02:53.242140+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Duolingo Q1 2023: Revenue +42% to $115.7M, DAUs +62%, raises FY guidance

## Summary
- Revenue $115.7M (+42% YoY), net loss narrowed to $2.6M from $12.2M; adjusted EBITDA $15.1M (13% margin) vs $3.9M (5%) prior year.
- DAUs 20.3M (+62%), MAUs 72.6M (+47%), paid subscribers 4.8M (+63%), all record highs.
- Total bookings $140.1M (+37% YoY); subscription bookings $110.1M (+40%).
- Raises FY2023 revenue guidance to $500-509M (30% growth) and adj. EBITDA margin 11-12%, up from prior $485-495M revenue.
- Launched Duolingo Max (GPT-4 powered) and highlights AI as competitive advantage.

## SEC filing metadata
- accession: 0001562088-23-000101
- form_type: 8-K
- ticker: DUOL
- cik: 0001562088
- company_name: Duolingo, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1562088/000156208823000101/0001562088-23-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1562088/000156208823000101/duol-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562088-23-000101
- JSON: https://secwatch.observer/filing/0001562088-23-000101.json
- Plain text: https://secwatch.observer/filing/0001562088-23-000101.txt

## Key facts
- Earnings Releases
  Duolingo, Inc. reported first quarter ended March 31, 2023 results: revenue $115.7 million, net income $2.6 million. Guidance raised.
  - Period: first quarter ended March 31, 2023
  - Revenue: $115.7 million
  - Net income: $2.6 million
  - Guidance: raised
  - Result: reported results
  source text: First Quarter 2023 Highlights • Total bookings were $140.1 million, an increase of 37% from the prior year quarter; • Subscription bookings were $110.1 million, an increase of 40% from the prior year quarter; • Paid Subscribers totaled 4.8 million at quarter end, an increase of 63% from the prior year quarter; • Monthly active users (MAUs) grew 47% to 72.6 million from the prior year quarter and Daily active users (DAUs) grew 62% to 20.3 million from the prior year quarter; • Total revenues were $115.7 million, an increase of 42% from the prior year quarter; • Net loss totaled $2.6 million, compared to a net loss of $12.2 million in the prior year quarter; • Adjusted EBITDA was $15.1 million, compared to $3.9 million in the prior year quarter, or a 13% and 5% Adjusted EBITDA margin, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1562088/000156208823000101/0001562088-23-000101-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.