Duolingo, Inc. (NASDAQ:DUOL) Q3 2023 Earnings Conference Call November 8, 2023 5:30 PM ET
Company Participants
Deborah Belevan - Vice President, Investor Relations
Luis von Ahn - Co-founder, Chief Executive Officer & Chairman
Matthew Skaruppa - Chief Financial Officer
Conference Call Participants
Ralph Schackart - William Blair
Justin Patterson - KeyBanc
Ryan MacDonald - Needham
Zach Morrissey - Wolfe Research
Alex Sklar - Raymond James
Andrew Boone - JMP
Arvind Ramnani - Piper Sandler
Mark Mahaney - Evercore
Curtis Nagle - Bank of America
Chris Kuntarich - UBS
Deborah Belevan
Good evening, everyone. If you haven't accidentally tuned into a replay of Duocon. This is actually Duolingo's Third Quarter Earnings Webcast. Today after market closed we released this quarter's shareholder letter, a copy of which you can find 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. They'll begin with some brief remarks before opening the call to questions. [Operator Instructions] Please note that this event is being recorded and all attendees are in a listen-only mode.
And just a reminder we will 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 in 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, a 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 over to Luis.
Luis von Ahn
Thank you, Debbie, and welcome, everyone. We had another fantastic quarter. We surpassed our expectations and had impressive user bookings and revenue growth. And it was a fun quarter two with the Barbie campaign and also preparing for our Best Duocon. We also feel very good about the coming quarter which is why we're raising our full year guidance to now reflect 40% year-over-year bookings growth. And we're also materially raising our full year adjusted EBITDA margin. Matt will share more details on our results and outlook shortly.