Language-learning app developer Duolingo has reported a net loss of $29 million for the third quarter of 2021, compared to a net loss of $3.2 million reported for Q3 2020. Revenue for the quarter was $63.6 million, up from $45.3 million reported for the third quarter last year.

The Pittsburgh-based company also reported results for the first nine months of 2021, with a net loss of $42.6 million, compared to a net loss of $5.4 million reported for the first nine months of 2021.

Luis von Ahn, co-founder and chief executive of Duolingo, said: “Our performance during the third quarter was exceptional. We achieved record bookings and a record number of paid subscribers, with monthly and daily users also reaching all-time highs. I’m very proud that we continue to grow rapidly, even on top of last year’s extraordinary performance, furthering our mission to develop the best education in the world and make it universally available.”

Date published: 11 November 2021

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