Duolingo language app boasts better earnings, $7.7B valuation

Free language learning app Duolingo has around 34 million everyday users and makes over $500 million annually. The company is valued at $7.7 billion and reported better-than-expected earnings for the recent quarter.

Its revenue was $178.33 million, slightly above the forecasted $177.1 million.

Duolingo CEO Luis von Ahn highlighted that the company saw over 100 million monthly active users and 8 million subscribers recently. He added that less than 9% of its users subscribe to paid ad-free versions and that only 8% of the company’s revenue comes from advertising.

The app has been one of the top language apps on the App Store for the past decade.

Looking ahead, Duolingo projects its third-quarter revenue to be between $186.7 million and $189.7 million and has raised its full-year revenue forecast. The company remains a leader in the online language-learning market.