Duolingo, Inc.
For the period ended Nov 3, 2026. Filed Nov 3, 2026.
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Nov 3, 2026 · Filed Nov 3, 2026
Contents
EX-99.2 · Monetization
Monetization
Every new learner expands the audience we can monetize over time. While teaching better and user growth remain our top priorities, we're gradually leaning more into monetization in ways that preserve the quality of our free experience.
Subscriptions remain our largest monetization opportunity, and we believe the most durable way to grow them is to teach better. We're particularly excited about Video Call's potential to help language learners make real progress in speaking, and we're focused on getting more people to use it and better understand its value.
Since unlimited Video Call will be part of Super, we've decided to sunset Duolingo Max, our highest subscription tier. This month, we will stop selling new Max subscriptions and move existing Max individual subscribers to a Super family plan at the same price, giving them the same feature set plus the added benefit of sharing their subscription with family or friends. The bookings effect of this should be minimal and is reflected in our Q4 guidance. We are still considering options for legacy subscribers on the Max family plan, but we will address this in 2027.
Lastly, we’re finding new ways to monetize that also drive engagement. Junior’s Toy Hunt was a good example of this in Q3. It was the first event built around our new Avatar Collections system, where learners collect puzzle pieces to unlock avatar outfits. The event was one of our biggest experiment wins for getting learners to complete more lessons, and it showed that collection events can be a meaningful opportunity to grow in-app purchases over time. We plan to continue building on this format with a regular cadence of collection events.
Junior's Toy Hunt: do lessons, collect puzzle pieces, unlock suits
DUOLINGO Q3 2026 5
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