Duolingo, Inc. (NASDAQ:DUOL) Q4 2022 Earnings Conference Call February 28, 2023 5:30 PM ET
Company Participants
Deborah Belevan - VP, IR
Luis von Ahn - Co-Founder, Chairman of the Board, President & CEO
Matthew Skaruppa - CFO
Conference Call Participants
Ryan MacDonald - Needham & Company
Justin Patterson - KeyBanc Capital Markets
Andrew Boone - JMP Securities
Eric Sheridan - Goldman Sachs Group
Mario Lu - Barclays Bank
Nathaniel Schindler - Bank of America Merrill Lynch
Aaron Kessler - Raymond James & Associates
Arvind Ramnani - Piper Sandler & Co.
Ralph Schackart - William Blair & Company
Mark Mahaney - Evercore ISI
Deborah Belevan
We hope you enjoyed that fun TikTok. It's one of the many examples of organic learner-generated content that goes viral every day without any involvement from us. And we love to see the creativity and enthusiasm of creators like this, which continues to drive our brand awareness and word-of-mouth growth. And now let's get on with today's call.
Good afternoon, and welcome to Duolingo's Fourth Quarter and Full Year 2022 Earnings Webcast. [Operator Instructions]. Today, after market close, we released our year-end shareholder letter with our Q4 and 2022 results and commentary, which you can find on our IR website at investors.duolingo.com.
On today's call, we have Luis von Ahn, our Co-Founder and CEO; and Matt Skaruppa, our CFO. They will begin with some brief remarks before opening the call to questions. [Operator Instructions]. And please note, this event is being recorded.
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 our 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 will 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, or substitute for or superior to, our GAAP results. And we encourage you to consider all measures when analyzing our performance.
And now I will turn it over to Luis.
Luis von Ahn
Thank you, Debbie, and welcome, everyone. I'm pleased to report that we finished 2022 with a record quarter, achieving our highest-ever number of DAUs and subscribers. We ended Q4 with 16.3 million DAUs, which is 62% year-over-year growth, and we ended 2022 with 4.2 million paying subscribers, which is 67% year-over-year growth. These metrics led 2022 to be our best year ever in terms of bookings and revenue, which grew 46% and 47%, respectively. It was a fantastic year.