Duolingo's third quarter revenue beat estimates while daily active user growth accelerated to 29% year over year

Duolingo reported third quarter 2026 revenue of $309 million, exceeding analyst estimates and reflecting 14% year-over-year growth. The performance was characterized by a significant acceleration in user engagement and high-end guidance for the full year, validating management's strategic shift toward top-of-funnel expansion.

Key Highlights

• Daily Active Users (DAUs) reached 64.9 million, representing 29% year-over-year growth and significantly outpacing the 23% growth seen in the prior quarter.
• Total bookings rose 12% to $316.1 million, led by subscription bookings which increased 16% as paid subscribers grew to 13.1 million.
• Adjusted EBITDA reached $78.7 million at a 25.5% margin, despite an $11.4 million accrual for a company-wide performance bonus tied to exceeding user growth targets.