Duolingo Growth Slows as Bookings Lag and Valuation Stays High
Duolingo’s second-quarter revenues rose 18.3% year over year to $298.5 million, but total bookings increased only 8% to $289.1 million after a 14% gain in the prior quarter. Management said new users monetize later, while R&D (+25%) and sales and marketing (+35%) grew faster than revenue. The stock trades at 44.4X forward earnings.