Duolingo raised its annual revenue guidance after reporting a surprise second-quarter profit underpinned by a jump in users flocking to its mobile language learning platform.
Duolingo Inc (NASDAQ:DUOL) rose 7% in afterhours following the report.
The mobile learning platform reported EPS of $0.08, compared with a loss of $0.38 in the prior-year period. Revenue of $126.8 million beat analyst expectations for a loss of $0.19 on revenue of $123.7M.
Paid subscribers rose 59% to 5.2M as daily active users jumped 62% to 21.4M and monthly active users surged 50% to 74.1M.
Total bookings was $137.5M for Q2, an increase of 41% from the prior year quarter
The company guided Q3 revenues in a range of $129.5M to $132.5M, compared with Wall Street estimates for $129.9M.
For the full-year, revenue was expected in a range of $510MM to $516M, up from prior guidace of $500M to $509M.
