Every material Form 8-K Duolingo filed with the SEC in 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 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.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Duolingo filing is on SEC EDGAR ↗. 8-K briefs of other companies →