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Duolingo Jumps About 27% as User Growth Accelerates

Duolingo's shares jumped about 27% in today's session after the language-learning app reported faster daily user growth and steady bookings guidance, even though earnings per share came in a cent short of the analyst estimate.

Duolingo (NASDAQ: DUOL) shares jumped today after the app maker said daily active users grew 29% in the third quarter. The Pittsburgh-based company, maker of the most popular language-learning app, earns from subscriptions, ads and in-app purchases. It reported results after the US close yesterday.

The shares stood at $162.28 at 8.27pm UK time, a delayed intraday quote, up 26.78% from yesterday’s close of $128.00. The high was $175.56, 37.2% above that close. The US session runs until 9pm UK time, so the move is not final. Yesterday’s close was about 19% below the $158.82 of the 3rd of September.

Daily active users, the count of people using the app each day, grew 29% from a year earlier, up from 23% growth in the second quarter. Revenue was $309.0M, up 13.7% on the $271.7M of a year ago. Co-founder and chief executive Luis von Ahn said in the company’s release:

We had a great Q3, with DAU growth accelerating to 29% year over year, and all of our key financial metrics coming in ahead of expectations.

Luis von Ahn, Co-Founder and CEO, Duolingo

Earnings per share were $0.54, a cent below the $0.55 estimate and well under the $0.95 of a year earlier. The market looked past that. Chief financial officer Gillian Munson guided to fourth-quarter bookings growth of 13%, the value of subscriptions sold before revenue is recognised, and revenue growth of 14%. Full-year bookings are guided up 12% and revenue up 18%.

Line chart of Duolingo share price from August to 4 November 2026 showing a sharp jump on 4 November
Duolingo daily closing price, 3 August to 3 November 2026, with the 4 November intraday quote at 8.27pm UK time, not a final close.

Management said it is gradually leaning more into monetisation while protecting the free experience. The steps include giving Video Call, an AI conversation feature, to all paid subscribers, retiring the premium Max tier, lengthening free trials and improving ads. The results, user growth, and that plan look like the likely drivers of the rally, though the full size of the move is not fully explained.

Fourth-quarter adjusted EBITDA, operating profit before certain costs, is guided at about $84M, roughly flat on a year ago, and gross margin is expected to fall about 1 point. Full 2027 guidance is not due until February, so the test is whether bookings growth in the low teens follows user growth.

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