Duolingo Raises 2026 Outlook as Shares Rise 11% After Hours

Duolingo raised its full-year 2026 revenue and bookings forecasts Tuesday as third-quarter revenue beat its prior outlook and daily user growth accelerated, with shares up 11.17% after hours.

The shares traded at $142.30 at 7:59 p.m. ET Tuesday, compared with a regular-session close of $128. Revenue for the quarter ended Sept. 30 reached $309 million, up 14% from a year earlier and above Duolingo's August forecast of $302 million. Diluted earnings were 54 cents per share.

Average daily active users rose 29% year over year to 64.9 million, accelerating from 23% growth in the second quarter. Third-quarter bookings rose 12% to $316.1 million. Duolingo's fourth-quarter targets are $322 million in revenue and $382 million in bookings, representing year-over-year increases of 14% and 13%.

The company lifted full-year revenue guidance to $1.221 billion from $1.207 billion and bookings guidance to $1.296 billion from $1.285 billion. Bookings include subscriptions, advertising, English Test purchases and in-app purchases; subscription revenue is recognized over the subscription term.