Shares in language learning platform Duolingo, Inc. (Nasdaq: DUOL) are plummeting this morning.

As of this writing, the stock is down a staggering 24% in premarket trading. That cliff edge comes after the company reported strong Q3 numbers yesterday. So what’s the reason for today’s fall? Here’s what you need to know.

Duolingo reports a strong Q3 2025

By nearly every metric, Duolingo had a strong third quarter, which ended on September 30, 2025. Here are the key metrics the company reported for its Q3: • Daily Active Users: 50.5 million (up 36% year over year) • Monthly Active Users: 135.3 million (up 20% YOY) • Paid Subscribers: 11.5 million (up 34% YOY) • Revenue: $271.7 million (up 41% YOY) • Adjusted earnings per share (EPS): $5.95 • Total Bookings: $281.9 million (up 33

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