Duolingo, Inc. (NASDAQ:DUOL) Q2 2023 Earnings Conference Call August 8, 2023 5:30 PM ET
Company Participants
Deborah Belevan - Head of Investor Relations
Luis von Ahn - Co-Founder and Chief Executive Officer
Matt Skaruppa - Chief Financial Officer
Conference Call Participants
Ryan MacDonald - Needham
Mario Lu - Barclays
Ralph Schackart - William Blair
Eric Sheridan - Goldman Sachs
Andrew Boone - JMP Securities
Arvind Ramnani - Piper Sandler
Mark Mahaney - Evercore ISI
Justin Patterson - KeyBanc
Zach Morrissey - Wolfe Research.
Operator
Good afternoon, and welcome to Duolingo Second Quarter Earnings Webcast. We hope you enjoyed that celebrity compilation which complements the themes we discussed in this quarter's shareholder letter, which was released today after market close. You can find that letter on our IR website at investor.duolingo.com.
On today's call, we have Luis von Ahn, our Co-Founder and CEO; and Matt Skaruppa, our CFO. We will begin -- they will begin with some brief remarks before opening the call to questions. [Operator Instructions] And please note that this event is being recorded, and all attendees are in listen-only mode.
Just a reminder that we'll make forward-looking statements regarding future events and financial performance, which are subject to material risks and uncertainties. Some of these risks have been set forth in the risk factors of our filings with the SEC. These forward-looking statements are based on assumptions that we believe to be reasonable as of today, and we have no obligation to update these statements as a result of new information or future events.
Additionally, we'll present both GAAP and non-GAAP financial measures on today's call. These non-GAAP measures are not intended to be considered in isolation from, a substitute for or superior to our GAAP results, and we encourage you to consider all measures when analyzing our performance.
And now I'll turn it over to Luis.
Luis von Ahn
Thank you, Debbie, and welcome, everyone. I'm pleased to share that we had another record quarter. In Q2, we achieved our highest ever daily and monthly active users, revenue, profitability and free cash flow, and we surpassed 5 million subscribers. We also just celebrated our 2-year anniversary of becoming a public company, and I'm very proud that we have outperformed the lofty goals we set for ourselves at the time of the IPO. Thanks to our continued strong performance, we are raising our top line and profitability guidance for the year. Matt will walk you through our updated outlook shortly.