Every material Form 8-K Duolingo has filed with the SEC since March 05, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Duolingo reported third-quarter 2026 revenue of $309.0 million, up 14% from a year earlier, and bookings of $316.1 million, up 12%. The company raised its full-year 2026 guidance across all key financial metrics, including bookings of $1.3 billion and revenue of $1.2 billion. Net income fell to $27.2 million from $292.2 million a year earlier, a period that included a $222.7 million one-time tax benefit.
Q3 2026 daily active users reached 64.9 million, up 29% year over year.
Full-year 2026 guidance: bookings of $1,296 million, revenue of $1,221 million, and Adjusted EBITDA of $323 million, up $3 million from prior guidance.
Q3 2026 net income was $27.2 million versus $292.2 million in Q3 2025, which included a $222.7 million tax benefit.
Q3 2026 Adjusted EBITDA was $78.7 million, down from $80.0 million a year earlier; Q4 2026 bookings are guided to $382 million.
On August 10, 2026, Duolingo increased its board from nine to ten directors and appointed Sallie Krawcheck, former Citigroup CFO and Ellevest founder, as a Class I director and Audit Committee member, effective immediately. The filing discloses her director pay, including cash retainers and restricted stock unit awards, but reports no change to financial results or guidance.
Board expanded from nine to ten directors; Krawcheck's term expires at the 2028 annual meeting
Annual cash retainers of $45,000 for Board service and $10,000 for Audit Committee service
Initial RSU award valued at $450,000, plus a prorated $180,000 RSU award and an annual $215,000 RSU award
Press release describes Krawcheck as having led Ellevest to $2.4 billion in assets under management
Duolingo reported second quarter 2026 results, with revenue up 18% to $298.5 million and total bookings up 8% to $289.1 million, while net income fell 26% to $33.2 million. The company raised its full-year 2026 Adjusted EBITDA outlook to approximately $320.0 million, a 26.5% margin, and reaffirmed its full-year revenue growth target of 15-18%. Shareholders get rising sales and a higher profit outlook, offset by lower net income and Adjusted EBITDA in the quarter.
Q2 2026 revenue was $298.5 million, up 18% year over year; total bookings were $289.1 million, up 8%.
Q2 net income was $33.2 million, down 26% from $44.8 million; Adjusted EBITDA was $77.3 million, down 2%.
Full-year 2026 Adjusted EBITDA outlook raised to approximately $320.0 million, or a 26.5% margin; full-year revenue growth target of 15-18% reaffirmed.
Daily active users reached 58.7 million, up 23%; paid subscribers reached 12.7 million, up 17%.
Duolingo reported first-quarter 2026 results for the three months ended March 31, 2026, with revenue up 27% year over year and net income of $43.5 million, compared with $35.1 million a year earlier. The company reiterated its 2026 targets and gave full-year guidance of $1,205 million in revenue and $1,280 million in bookings, which matters to shareholders because it sets the outlook the company expects to meet.
Q1 2026 revenue was $292.0 million, up 27% year over year; total bookings were $308.5 million, up 14%
Q1 2026 net income was $43.5 million, versus $35.1 million in Q1 2025; adjusted EBITDA was $83.4 million, a 28.6% margin
FY 2026 guidance: revenue of $1,205 million (16.1% growth), bookings of $1,280 million (10.5% growth), and adjusted EBITDA of $310 million
Q2 2026 guidance: revenue of $295.5 million and bookings of $283.5 million, with bookings growth of 5.8% year over year
Duolingo reported fourth-quarter 2025 revenue of $282.9 million, up 35% year over year, and full-year 2025 revenue of $1,037.6 million, up 39%. The company also guided to slower 2026 bookings growth of 10% to 12% and an Adjusted EBITDA margin of about 25%, and authorized a share repurchase program of up to $400 million, which management says reflects a deliberate shift toward user growth.
Q4 2025 revenue $282.9 million, up 35%; Q4 net income $42.0 million, versus $13.9 million in Q4 2024
Full-year 2025 net income $414.1 million, including a one-time income-tax benefit of $256.7 million
FY 2026 guidance: bookings $1,274 million to $1,298 million (10% to 12% growth); revenue $1,197 million to $1,221 million; Adjusted EBITDA margin about 25%, versus 29.5% in 2025
Board authorized share repurchases of up to $400 million with no expiration date
Duolingo said Gillian Munson, a board member since 2019 and chair of its Audit, Risk and Compliance Committee, will become chief financial officer effective February 23, 2026, succeeding Matthew Skaruppa, who will move to an advisory role through November 20, 2026. The company also gave preliminary fourth-quarter 2025 metrics, showing DAU growth of approximately 30% year over year and bookings at or slightly above the high end of its guidance range of $329.5 million to $335.5 million.
Gillian Munson becomes CFO effective February 23, 2026, replacing Matthew Skaruppa, who served nearly six years in the role
Munson's base salary is $800,000 and her start-date RSU grant is valued at $14 million, per the filing
Preliminary Q4 2025 DAU growth of approximately 30% year over year
Preliminary Q4 2025 bookings at or slightly above the high end of the $329.5 million to $335.5 million guidance range; the figures remain subject to closing and review procedures
Duolingo reported third-quarter 2025 results with revenue of $271.7 million, up 41% from a year earlier, and daily active users of 50.5 million, up 36%. The company raised its full-year 2025 bookings guidance slightly at the midpoint and raised its full-year Adjusted EBITDA margin guidance to 29.0% at the midpoint, while net income of $292.2 million included a one-time $222.7 million income-tax benefit.
Q3 2025 revenue was $271.7 million, up 41% year over year; total bookings were $281.9 million, up 33%.
Net income was $292.2 million, including a one-time income-tax benefit of $222.7 million from releasing a valuation allowance.
Adjusted EBITDA was $80.0 million, a 29.5% margin, compared with $47.5 million and 24.7% a year earlier.
Full-year 2025 revenue guidance is $1,027.5 million to $1,031.5 million, and bookings guidance is $1,151 million to $1,157 million.
Duolingo reported second-quarter 2025 revenue of $252.3 million, up 41% from a year earlier, and net income of $44.8 million, up 84%. The company raised the midpoint of its full-year 2025 bookings growth guidance to 32% and its full-year Adjusted EBITDA margin guidance to 28.75%, which signals stronger expected top-line growth and profitability for shareholders.
Q2 2025 revenue was $252.3 million, up 41% year over year; subscription revenue was $210.7 million, up 46%.
Q2 2025 net income was $44.8 million, up 84% from $24.4 million in Q2 2024.
FY 2025 bookings growth guidance midpoint raised to 32% year over year; FY 2025 revenue growth expected at 36% at the midpoint.
FY 2025 Adjusted EBITDA margin guidance midpoint raised to 28.75%, about 80 basis points above the prior quarter's midpoint.
Duolingo reported first-quarter 2025 revenue of $230.7 million, up 38% from a year earlier, and net income of $35.1 million, up from $27.0 million. The company raised its full-year 2025 bookings growth guidance to about 29% and its Adjusted EBITDA margin guidance midpoint to 28%, which signals stronger expected growth and profitability for shareholders.
Q1 total bookings were $271.6 million, up 38%; paid subscribers reached 10.3 million, up 40%.
Q1 gross margin fell to 71.1% from 73.0%, mainly due to higher generative AI costs tied to Duolingo Max.
Full-year 2025 revenue guidance is $987 million to $996 million, and full-year Adjusted EBITDA margin guidance midpoint is 28%.
Duolingo reported fourth-quarter and full-year 2024 results, with Q4 revenue of $209.6 million, up 39% year over year, and full-year revenue of $748.0 million, up 41%. Net income rose to $88.6 million for 2024 from $16.1 million in 2023, and the company issued initial guidance for 2025 revenue of $962.5 million to $978.5 million.
Q4 2024 revenue was $209.6 million, up 39% year over year; Q4 net income was $13.9 million, compared with $12.1 million a year earlier.
FY 2024 revenue was $748.0 million, up 41%; FY 2024 net income was $88.6 million, compared with $16.1 million in 2023.
Q4 2024 daily active users reached 40.5 million, up 51% year over year, and paid subscribers totaled 9.5 million, up 43%.
2025 guidance: bookings of $1,082 million to $1,098 million, revenue of $962.5 million to $978.5 million, and Adjusted EBITDA of $259.9 million to $274.0 million.
Duolingo increased its board from nine to ten directors on December 5, 2024, and appointed Bonnie Ross as a Class II director, effective immediately. Ms. Ross, a former Microsoft corporate vice president who led the Halo franchise, joins the Compensation Committee and the Merger and Acquisitions Committee. The filing does not report any financial results, but it does set out her director pay, including equity awards, which will be disclosed to shareholders.
Board increased from nine to ten directors; Bonnie Ross appointed Class II director effective immediately on December 5, 2024
Ross joins the Compensation Committee and the Merger and Acquisitions Committee; term expires at the 2026 annual meeting
Initial RSU award valued at $360,000 and annual RSU award valued at $180,000, plus $35,000 Board retainer and committee retainers of $7,500 and $4,000
Filing furnished press release dated December 9, 2024 announcing the appointment
Duolingo reported third-quarter 2024 revenue of $192.6 million, up 40% from a year earlier, and net income of $23.4 million, compared with $2.8 million in the prior-year quarter. The company updated its full-year 2024 outlook to revenue of $741.0 million to $744.0 million, and its shareholder letter says it is raising guidance. For shareholders, the results show strong growth and higher profitability, and the updated outlook signals management's expectations for the rest of the year.
Q3 2024 total bookings were $211.5 million, up 38%; paid subscribers reached 8.6 million, up 47%.
Net income was $23.4 million versus $2.8 million a year earlier; Adjusted EBITDA margin was 24.7% versus 16.3%.
Full-year 2024 revenue guidance is $741.0 million to $744.0 million; Q4 revenue guidance is $202.5 million to $205.5 million.
Duolingo reported second-quarter 2024 results on August 7, 2024, with revenue of $178.3 million, up 41% from the prior year quarter, and net income of $24.4 million, compared with $3.7 million a year earlier. The company also issued third-quarter 2024 guidance of $186.7 million to $189.7 million in revenue and updated its full-year 2024 revenue outlook to $731.3 million to $738.3 million, which shareholders can use to gauge expected growth.
Q2 2024 total revenues were $178.3 million, up 41%, and total bookings were $190.1 million, up 38%.
Net income was $24.4 million versus $3.7 million in Q2 2023; Adjusted EBITDA was $48.1 million, a 27.0% margin.
Paid subscribers reached 8.0 million at quarter end, up 52%, and monthly active users reached 103.6 million, up 40%.
Q3 2024 revenue guidance is $186.7 million to $189.7 million; full-year 2024 revenue guidance is $731.3 million to $738.3 million.
Duolingo's Board appointed Mario Schlosser as a Class I director, effective July 1, 2024, to fill the seat vacated by Laela Sturdy's departure. He receives standard non-employee director compensation, including an initial equity award valued at $360,000 and an annual cash retainer of $35,000, which is a routine board change with limited direct financial effect on shareholders.
Mario Schlosser appointed Class I director on June 14, 2024, effective July 1, 2024, filling the vacancy left by Laela Sturdy
Annual cash retainer of $35,000, paid quarterly in arrears and prorated for 2024
Initial RSU award valued at $360,000, vesting over three years; annual RSU award valued at $180,000
Duolingo reported first-quarter 2024 results on May 8, 2024, with revenue of $167.6 million, up 45% from a year earlier, and net income of $27.0 million, compared with a net loss of $2.6 million in the prior-year quarter. The company raised its full-year 2024 guidance for bookings, revenue and Adjusted EBITDA. A director, Laela Sturdy, also resigned from the board and its Audit and Mergers and Acquisition committees effective May 6, 2024, and the filing says her resignation was not due to any disagreement with the company.
Total bookings were $197.5 million, up 41%, and paid subscribers reached 7.4 million, up 54%.
Net income was $27.0 million versus a net loss of $2.6 million a year earlier; Adjusted EBITDA margin was 26.3% versus 13.1%.
Full-year 2024 revenue guidance is $726.5 million to $735.5 million, and bookings guidance is $808.5 million to $817.5 million.
Director Laela Sturdy resigned from the board and its Audit and Mergers and Acquisition committees, effective May 6, 2024.
On March 4, 2024, Duolingo signed the First Amendment to its Pittsburgh office lease with 5704 Penn Office, LLC. The amendment adds 110,008 square feet starting August 1, 2025, for a total of 148,266 square feet, and extends the expiration date to April 30, 2036. The filing also discloses the added rent obligation, which means a longer fixed rent commitment for shareholders to weigh against the expanded space.
First Amendment signed March 4, 2024 adds 110,008 square feet, bringing the total to 148,266 square feet beginning August 1, 2025.
Initial base rent on the additional space is approximately $394,000 per month, rising about 2.0% per year, with roughly 9% increases in the third and fifth years tied to added parking access.
Lease expiration extends to April 30, 2036.
Landlord will provide an improvement allowance of up to approximately $6.6 million for design, permitting and construction.
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