Summary by Moomoo AI
On February 28, 2024, Duolingo, Inc., the leading mobile learning platform, reported its financial results for the fourth quarter and full year ended December 31, 2023. The company announced significant growth, with a 65% increase in daily active users (DAUs) and a 45% increase in revenue for the quarter. Duolingo achieved a net income of $12.1 million, a substantial improvement from a net loss of $13.9 million in the same quarter of the previous year. The full-year highlights included a 45% increase in total bookings and a 44% increase in total revenues, with net income totaling $16.1 million compared to a net loss of $59.6 million in the prior year. The company also reported strong cash flow from operating activities and free cash flow for both the quarter and the full...Show More