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US: Language app Duolingo reports quarterly loss

Language-learning app developer Duolingo has reported a second-quarter net loss of $15 million, compared to a net loss of $176,000 reported for Q2 2021. Revenue for the quarter was $88.4 million, up 50% from $58.8 million reported for the second quarter last year.

The Pittsburgh-based company also reported results for the first six months of 2022, with a net loss of $27.2 million, compared to a net loss of $13.6 million reported for the first six months of 2021.

Luis von Ahn, co-founder and chief executive of Duolingo, said: “Our second-quarter results exceeded expectations, driven by accelerating user growth and strength across our entire business. I’m very proud that we delivered over 50% growth in bookings and revenue from the prior year quarter, despite a challenging macroeconomic environment. We see this growth as a result of our relentless focus on constant product improvement. Through continuous experimentation, we are driving organic growth, deeper user engagement, and stronger free-to-paid user conversion.”

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