Duolingo, the leading mobile language learning platform, posted stellar results for the third quarter of 2024, driven by robust user growth and the successful rollout of its AI-powered Duolingo Max offering.

The company's daily active users (DAUs) surged 54% year-over-year to 37.2 million, while monthly active users (MAUs) climbed 36% to 113.1 million. This impressive user expansion was complemented by a 45% increase in subscription bookings to $176.3 million, fueled by a 47% rise in paid subscribers to 8.6 million.

Duolingo's strong topline performance translated into revenue growth of 40% to $192.6 million, while net income soared to $23.4 million, compared to $2.8 million in the prior-year quarter. Adjusted EBITDA more than doubled to $47.5 million, reflecting a 24.7% margin.