I finally found a moment to dig into the most recent Duolingo quarterly earnings. Revenue from the Duolingo English test for the three months ending March 31 of this year was 9.97 million, up from 8.08 million for the same three months in 2022.
Assuming that the test costs $49 a pop, we can surmise that it was taken 203,510 times in the quarter. The actual number is likely higher considering occasional discount pricing and freebies.
The test continues to grow and grow and grow. Here are historic revenues:
- Q1 2023 – 9,970,000
- Q4 2022 – 8,410,000
- Q3 2022 – 8,192,000
- Q2 2022 – 8,036,000
- Q1 2022 – 8,080,000
- Q4 2021 – 8,095,000
- Q3 2021 – 6,695,000
- Q2 2021 – 4,833,000
- Q1 2021 – 5,035,000
- Q4 2020 – 4,197,000
- Q3 2020 – 5,607,000
- Q2 2020 – 4,598,000
- Q1 2020 – 753,000
Duolingo’s share price is up as well – 115% Year to Date.
Note that the price of the test increased at the beginning of April of this year.