Duolingo’s language platform saw a record number of orders and earnings

The online language-learning platform Duolingo Inc. (DUOL) put out a good report for the first quarter of 2022, which pushed the price of DUOL shares up by 34% to $89.77 at auction on May 13. Duolingo’s revenue increased by 47 percent year over year to $81.2 million in the quarter ending March 31. Orders, which include subscription revenue, went up by 56%, to $78.5 million. This means that there are now 49 million monthly active users. The net loss fell to $12.2 million.

The 60% increase in paying customers to over 3 million was a significant and encouraging indicator.This suggests that people are becoming more interested in learning other languages, and Duolingo can capitalize on this trend. It’s worth noting that all aspects of the Duolingo company grew, indicating that online instruction is popular among users of various types and ages. Duolingo’s profitability improves as its audience grows. A net loss was $0.31 per share in the first quarter, compared to $1.04 a year ago. The good dynamics at Duolingo are expected to continue this year.

In light of this, the business upped its sales expectations for 2022. The adjusted profit is estimated to be $3 million on a revenue range of $388–397 million. The majority of Duolingo’s income comes from its foreign language learning program. But the company is always making changes to make things better, like adding social services to the platform.

This is part of Duolingo’s larger aim to grow its premium subscriber base, which now accounts for two-thirds of the company’s income. At the same time, advertising revenues are increasing: in the first quarter, they increased by 27% to $11.7 million. Sales of English language testing services grew by 60% year over year to $8 million.