The following is a summary of the Duolingo, Inc. (DUOL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Duolingo reported a 45% increase in Q1 2024 revenue, with bookings growing by 41%.

• It reached record profitability and its daily active users (DAUs) increased by 54% compared to the previous year.

• The company achieved a record 26% adjusted EBITDA margin in Q1.

• Projected upgrades to its 2024 bookings and revenue guidance are expected to be 31% and 38%, at the midpoint respectively.

• Full year adjusted EBITDA guidance was increased to 23.5% at the midpoint, due to expected operating leverage across all categories of expense.

Business Progress:

• Duolingo is concentrating on enhancing its subscription offerings, including the Family Plan and Duolingo Max.

• The company is making an effort to improve the experience of the Family Plan and is confident in raising its full-year guidance due to progress in these areas.

• An expansion into the English Learners market is planned as part of its growth strategy.

• The company plans to enhance its English courses and market Duolingo as a go-to platform for learning intermediate to advanced English.

• Subscriptions have risen by 47% YoY in Q1, higher than expectations.

• Use of generative AI for English content creation led to reduced costs and production time.

• Duolingo is diversifying its marketing efforts with a heavier focus on Instagram and YouTube.

• Investments in math and music courses show promise, though significant revenue contributions are not expected this year.

• Duolingo has recorded a 60% growth in daily active users and anticipates this growth trend to continue.

• The company is focusing on making its annual subscription product more appealing to increase conversions from free users to paying subscribers.

More details: Duolingo IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.