Duolingo 2022 Q3 Earnings Call
发布时间 2023-05-26 12:06:14 来源
中英文字稿 
Good afternoon and welcome to Dual Lingo's third quarter, 2022 earnings webcast. All attendees are in listen only mode. Today after market close, we released our quarterly shareholder letter with our Q3 results in commentary, which you can find on our IR website at investors.duelingo.com.
下午好，欢迎参加双语达人2022年第三季度收益网络研讨会。所有参会人员均处于听取模式。今天市场闭市后，我们发布了季度股东信，其中包括我们第三季度业绩和评论，您可以在我们的IR网站investors.duelingo.com上找到。
On today's call, we have Luis Von On, our co-founder and CEO, and Matt's Garupa, our CEO. They will begin with some prepared remarks before opening the call to questions. Analysts will be able to ask a question by using the raised hand feature. Please note that this event is being recorded.
今天的电话会议上，我们邀请了我们的联合创始人兼首席执行官路易斯·冯·翁和首席执行官马特·加鲁帕。他们将发表一些准备好的讲话，然后开放问题提问环节。分析师可以使用举手功能进行提问。请注意，此事件正在被记录。
Just a reminder that we will make forward-looking statements regarding future events and financial performance, which are subject to material risks and uncertainties. Some of these risks have been set forth in the risk factors in our filings with the SEC. These forward-looking statements are based on assumptions that we believe to be reasonable as of today, and we have no obligation to update these statements as a result of new information or future events.
这只是一个提醒，我们将就未来事件和财务表现做出前瞻性声明，这些声明面临重大的风险和不确定性。我们的SEC文件中列出了其中一些风险因素。这些前瞻性声明基于我们今天认为是合理的假设，并且我们没有义务根据新的信息或未来事件更新这些声明。
Additionally, we will present both GAAP and non-GAP financial measures on today's call. These non-GAP measures are not intended to be considered in isolation from a substitute for or superior to our GAAP results, and we encourage you to consider all measures when analyzing our performance.
此外，我们将在今天的通话中展示GAAP和非GAAP财务指标。这些非GAAP指标不应被单独考虑，也不能替代或优于我们的GAAP结果，我们鼓励您在分析我们的业绩时考虑所有指标。
I will turn it over to Luis. Thank you, Debbie, and welcome everyone. I'm pleased to report that we delivered another strong quarter, continuing the momentum we've seen all year.
我将把它交给Luis。谢谢Debbie，并欢迎大家。我很高兴地报告，我们交出了又一个强劲的季度报告，延续了我们一整年所看到的势头。
We saw accelerating user growth with daily active users increasing 51% year-over-year. We also saw bookings grow 41% year-over-year, which came from growth in conversion, year-over-year, and from steady retention rates. We're not seeing any signs of consumer softness in our subscription metrics, and as a result, we're raising our full year guidance again.
我们看到了用户增长的加速，每日活跃用户同比增长了51％。我们还看到预订同比增长了41％，这来自于转化率和稳定的留存率的增长。我们没有看到订阅指标中任何消费者软弱的迹象，因此我们再次提高了我们全年的预期指导。
I want to spend a little more time talking about our user growth because it's so important for our business. Daily and monthly active users continue to accelerate for the fifth quarter in a row, reaching all-time highs in this third quarter. Of course, we can't expect this acceleration to go on forever, but the trend this year is evidence that our focus on organic growth, coupled with modest and efficient marketing spend, is an effective strategy.
我想花更多时间谈论我们的用户增长，因为它对我们的业务非常重要。日活跃用户和月活跃用户在过去的五个季度都持续增长，这个季度达到了历史高位。当然，我们不能指望这种增长会一直持续下去，但今年的趋势表明，我们专注于有机增长，并加上适度、高效的市场营销支出，是一种有效的策略。
This is why we continue to invest in R&D to make our products even more fun and engaging, which is what drives world of mouth growth. And our strong user growth this year will also help drive bookings growth in the future, because we have a great free product without a paywall, a good portion of the learners that have joined us this year will convert to paying subscribers in the coming quarters, providing a tailwind for subscription bookings.
这就是为什么我们继续投资于研发，使我们的产品更有趣、更有吸引力，这是推动口碑增长的原因。而今年我们强劲的用户增长也将有助于未来的预订增长，因为我们有一个很好的免费产品，没有付费墙，今年加入我们的很多学习者将在接下来的几个季度转化为付费订阅者，为我们的订阅预订提供了迎风而上的助推力。
As to other parts of our business, you all know that the digital advertising market has faced headwinds this quarter. And while this impact that our ad revenue, the overall impact to our business has been small because ad monetization is in a major focus for us. Rather than actively seeking to grow this revenue stream, ads have served more of a strategic purpose for us, which is to help give learners a reason to convert to paying subscribers.
关于我们业务的其他部分，大家都知道数字广告市场在这个季度面临着一些困难。尽管这些影响了我们的广告收入，但对我们整个业务的影响很小，因为广告收益对我们来说并不是主要关注点。我们并不是积极寻求扩大这个收入流，而是将广告作为一个战略目的，帮助学习者转化为付费订阅者。因此，广告在我们业务中的作用更多的是战略上的，而非收入上的。
On the other hand, in a purchase revenue is a priority for us, as we believe it's a bigger opportunity than ad revenue. Today, IAPs or in-app purchases only make up about 5% of revenues, up from 3% last year. But we believe we have plenty of room to increase this as we experiment with new features that encourage learners to make Alacard in-app purchases.
另一方面，在购买方面，收入是我们的重点，因为我们认为这比广告收入更有机会。如今，应用内购买（IAP）仅占收入的约5％，比去年增长了3％。但我们相信，通过尝试新功能，鼓励学习者进行应用内购买，我们有足够的空间来增加这一比例。
Overall, we continue to maintain our financial discipline and manage our costs prudently. While our headcount continues to grow, we have never gone nuts on hiring. And because of that, we don't have to implement cost controls like layoffs or hiring freezes in order to achieve profitability.
总体而言，我们继续保持财务纪律，谨慎地管理成本。虽然我们的人数不断增加，但我们从未在招聘方面失控。正因为如此，我们不必实施像裁员或招聘冻结这样的成本控制措施来实现盈利。
As I reflect on 2022, it's been a stellar three quarters for our business, even as the macro situation has gotten more uncertain. And the fourth quarter is a busy and fun quarter for us. We have just launched our new home screen to most users, launched our new math app, and we launched our new year's promotion in late December. I'm excited about these efforts and look forward to all the energy and innovation that a new year brings.
当我回顾2022年时，尽管宏观情况变得更加不确定，我们的业务在前三个季度表现出色。同时，第四季度对我们来说是一个忙碌而有趣的季节。我们刚刚向大多数用户推出了新的主屏幕，推出了新的数学应用程序，并在12月底推出了新年促销。我对这些努力感到兴奋，并期待着新的一年带来的所有能量和创新。
And with that, I'll turn it over to Matt to talk about our financial outlook. Thanks, Louise. We had another exceptional quarter outperforming our expectations on the top line and on profitability. And given our outperformance, we are raising our four year guidance.
随手结束，我将转向Matt谈谈我们的财务前景。非常感谢，Louise。我们在本季度的业绩和盈利方面再次超出了我们的预期。鉴于我们的超额表现，我们正在提高我们的四年指引。
During the third quarter, we deliver total bookings growth of 41% year-to-year year. And as a reminder, over half of our revenue comes from outside the US. So on a constant currency basis, bookings growth would have been nearly 50%.
在第三季度，我们的预订总增长同比增长了41%。提醒一下，我们超过一半的收入来自美国以外的地区。因此，如果以恒定的货币基础计算，预订增长将近50%。
As to our guidance for Q4 2022, we are guiding to $112 to $115 million in total. So we have a total of $112 million in total bookings, $98 to $101 million in revenue, and the Nejacity Bada of negative three to break even.
关于我们对2022年第四季度的指导，我们预计总值将在1.12亿至1.15亿美元之间。因此，我们总共预计订购额将达到1.12亿美元，收入将在9,800万至1.01亿美元之间，而Nejacity Bada的负面影响预计将达到贴近平衡点。
For the four year 2022, we are increasing our guidance to $414 to $417 million in total bookings, $364 to $367 million in revenue, and the Nejacity Bada of positive $7 to $10 million. Our four year bookings guidance reflects 41 to 42% year-of-year growth up from the 37 to 39% year-of-year growth we guided to on our last earnings call.
针对2022年，我们将指导总预订额为4.14亿至4.17亿美元，收入为3.64亿至3.67亿美元，Nejacity Bada为正7至10百万美元。我们的四年预订指导反映出了41%至42%的同比增长，而上次财报电话中我们指导的同比增长为37%至39%。
Our updated guidance assumes current foreign exchange rates, and note that every 1% increase in the value of the dollar versus our basket of currencies has about a half a million dollar impact on bookings in the final quarter of the year.
我们更新的指导方针以当前外汇汇率为前提，并注意到美元针对我们的货币篮子的每1%增值，将对年度第四季度的预订产生大约50万美元的影响。
As Luis mentioned above, we continue to be disciplined in how we manage our expenses. In the fourth quarter, we expect non-GAP R&D will increase as a percentage of revenue as we continue to invest in making our products more fun, engaging, and effective. Our non-GAP sales and marketing expense as a percentage of revenues expected to increase slightly, and non-GAP GNA should stay roughly flat.
正如Luis在上面提到的，我们在管理开支方面仍然保持自律。在第四季度，我们预计不包括一般会计原则(GAP)的研发费用将占营收的比例会增加，因为我们将继续投资于使产品更有趣、更吸引人和更有效。我们非GAP的销售和市场开支预计会略微增加，非GAP的总部及行政费用应该大致保持不变。
For the full year, we expect to achieve approximately two to three points of operating leverage compared to last year. We ended Q3 with approximately 47.6 million fully diluted shares outstanding using the average Q3 closing price, and we expect to end the year with approximately 3% delusion from equity issue to employees.
在整个财年中，我们预计相较于去年将实现大约2至3个经营杠杆。截至第三季度，我们拥有大约47.6万万股的全面稀释股，按照第三季度收盘价平均值计算，我们预计年末将有大约3％的稀释股由于员工股权问题。
We will provide our full year 2023 guidance on our fourth quarter earnings call, but in the meantime, I'd like to remind everyone that we believe we are still early in our monetization efforts, and believe we have strong top-line growth ahead of us. We will continue to invest in our ND to drive user growth monetization, and we will invest more in early-stage efforts like the Duolingo English Test, Duolingo ABC, and Duolingo Math.
我们将在我们的第四季度收益电话中提供2023年全年指导，但同时，我想提醒大家，我们认为我们在我们的货币化努力方面仍处于早期阶段，并且相信我们将有强劲的收入增长前景。我们将继续投资我们的ND以推动用户增长货币化，我们将在Duolingo英语测试，Duolingo ABC和Duolingo数学等早期阶段的项目上投资更多。
But even as we do that, we will stay focused on making measurable progress each year to our long-term profitability target of 30 to 35% of just deep-it-on margins. And with that, I'll turn it back to Luis.
但即使我们这样做，我们仍然会专注于每年取得可衡量的进展，以实现我们长期盈利目标——仅Deep-IT利润的30%至35%。有了这个目标，我会把话题转回给路易斯。
意思：我们将专注于实现我们的长期盈利目标，并努力每年取得可衡量的进展。我们的目标是实现Deep-IT利润的30%至35%。然后，让我们再次请路易斯发言。
Very funny, Lily. I know, do I put you up to this. Okay. Now, where was I? Oh, yes. Before we get into Q&A, I'd like to thank the entire team who continue to deliver excellence in everything they do, creating engaging apps that are fun and effective, helping our learners reach their goals and converting more subscribers who ultimately support our mission.
非常有趣，莉莉。我知道，我是让你这么做的。好了，现在，我接下来要说什么呢？对了， 在我们进入问答环节之前，我想向整个团队表示感谢。他们在做任何事情时都不断追求卓越，创造出有趣而有效的应用程序，帮助我们的学习者达到目标，转化更多支持我们使命的订阅者。
And now, we would be happy to take your questions. I'll turn it back to Debbie to manage the Q. All right. Thanks, Lily.
现在，我们很乐意回答你们的问题。我将把话题交给黛比来管理。好的，谢谢，莉莉。
And as I mentioned earlier, if you have a question, you can use the raise hand feature.
正如我之前提到的，如果你有问题，可以使用举手的功能。这样做让提问变得更方便。
The first question comes from Andrew Boone at JNP Securities. Go ahead, Andrew.
第一个问题来自JNP证券公司的安德鲁布恩。请问，安德鲁。
意思：安德鲁布恩是JNP证券公司的人，他现在提出了第一个问题。请他提问。
Hi, guys. Thanks so much for taking my question. I'd like to hear a localized pricing. What are your things on our numbers? Was down 16% your bookings per sub? Sorry, was down 16% your year? Can you just break that out versus FX versus the shift to localized pricing and then just update us in terms of what you guys are seeing as you roll that out in terms of conversion benefits?
大家好。非常感谢你们回答我的问题。我想听一下本地化价格的情况。你们对我们的数字有什么看法？你们的预订量是下降了16%吗？对不起，是你们的年度数据下降了16%吗？你们能否将这个数字分开，看看汇率变化和本地化定价的影响，并向我们更新推广转化效果方面的进展情况？
And then secondly, as we think about profitability going forward, you mentioned this in your remarks in terms of driving towards those long-term margins. So the only way you can help us think about that, though, is just there's been a greater shift towards a focused profitability.
然后，第二个问题是针对未来的盈利能力，你在谈话中提到了有关努力达到长期利润率的问题。然而，你能帮助我们思考的唯一方法是仅仅注重盈利能力的转变。
How you guys are thinking about just expanding margins and more of a steady cadence there. Thanks so much.
你们如何考虑只是扩大利润率并使节奏更为稳定。非常感谢。
Sure. Yeah. So on your first question on regional pricing, just to remind everyone, we rolled out localized pricing starting last year, but really more broadly in Q2 of this year.
当然。嗯。关于您第一个问题的地区定价，我想提醒大家，我们从去年开始推出本地化定价，但在今年第二季度更广泛地推出了这一服务。
Because we saw it as a first step towards better international monetization, getting the pricing more akin to what's the purchasing power in the local markets. And when we did that, we were testing that thoroughly for a long period of time to make sure that the net impact of lowering the price was an increase in bookings and ultimately increase in lifetime value of of those subscribers.
因为我们认为这是迈向更好的国际货币化的第一步，让定价更符合当地市场的购买力。当我们这样做时，我们进行了长时间的充分测试，以确保降价的净影响是预订增加，最终增加那些订阅者的终身价值。
And we feel confident we rolled those out that that was true. So while that probably has an impact on our preferred metric of pricing, which is revenue per subscriber, not bookings, the ultimate impact will be a bigger LTV over time.
我们相信我们推出了这些功能，这是真实的。因此，虽然这可能对我们首选的定价指标——每个订阅者的营收产生影响，而不是预订，但最终的影响将是随着时间的推移，生命周期价值更大。
This past quarter, to your point, our bookings per quarter and then flowing through to revenue was impacted by FX. So that was another headwind to revenue per subscriber.
上个季度，正如您所指出的，外汇汇率对我们的预订量和收入造成了影响。因此，这是影响订阅者收入的另一个阻力因素。
So on that, we feel confident that we're making the right choices for the long-term LTV of the business, even if pricing goes down in any particular quarter.
因此，我们非常有信心为企业的长期价值提供正确的决策，即使在任何特定季度价格下降的情况下。
As to your second point around profitability, the good news is it's actually not a shift in how we run the business. The business is for forever been run disciplined so that we weren't burning through cash. And so there really is no change.
关于您提到的盈利能力的第二点，好消息是这并不会改变我们经营业务的方式。我们一直以来都实行有纪律的经营方针，以避免现金流失。因此，实际上并没有什么变化。
The fact of the matter is we're going to continue doing key increase revenue faster than expenses that operating leverage will flow through to the bottom line. It will become more profitable over time. Thank you.
事实是，我们将继续通过增加关键收入来快速超过支出，这种经营杠杆将流向底线。随着时间的推移，我们的利润将会增加。谢谢。
All right, thanks Andrew. The next question comes from Ralph Shacker at Long Blair. Good evening. Thanks for taking the question.
好的，谢谢Andrew。下一个问题来自Long Blair的Ralph Shacker。晚上好。谢谢答疑。
Our first question on macro, Luis, I know you said you haven't seen it or at least broadly, but just curious if you're seeing it even on the edges or any small signals. And I guess maybe it gives a sense of the durability and the use case for the product that might be able to continue to help it grow. Should there be stiffening macro headwins? And then have a follow. Thanks.
我们在宏观层面上的第一个问题，路易斯，我知道你说过你没有很广泛地看到它，但我想知道你是否看到了一些边缘或者任何小信号。我猜可能这能够给我们一种产品的耐久性和使用情况的感觉，以及可能帮助它继续增长的。如果宏观环境变得越来越严峻，我们该怎么办呢？然后有一个后续的跟进问题，谢谢。
Yeah, so of course we're aware of the micro situation. So we've been looking for our subscriptions product. We just haven't seen anything even if you see geographically. I mean, we just haven't seen any softness in the numbers. Like I said, in terms of ad revenue, we've seen that, but it's small for us. So our main, we're mainly a subscriptions product, and we just have seen no softness.
是的，当然我们意识到微观情况。我们一直在寻找订阅产品，但是即使是从地理角度来看，我们仍然没有看到任何软弱之处。就像我说的，在广告收入方面，我们看到了一些小波动，但这对我们来说很小。因此，我们的主要产品是订阅产品，并且我们并没有看到任何软弱之处。
And we just feel pretty good about it in terms. And like also, like I said, in terms of this year, we just have seen a pretty strong user growth. And that usually will convert over the next several quarters will convert in pretty strong bookings growth. So so far so good.
我们对这一点感觉很好。就像我之前说的，就今年而言，我们看到了相当强劲的用户增长。通常，这将在接下来的几个季度转化为相当强劲的预订增长。所以目前为止一切都很顺利。
I mean, of course, I, you know, like I've been saying also in every single call, I don't know what will happen in terms of, you know, if there's a major recession or anything, because we as a company have never gone through a major recession. But so far, we just haven't seen any softness. Great.
我的意思是，当然，就像我在每个电话里都说的那样，我不知道未来是否会出现全面经济衰退之类的情况，因为我们作为一家公司还没有经历过。但迄今为止，我们还没有看到任何软弱的迹象。太好了。
And then in terms of the, and that purchases seems like you're having some success there with, I think, gems you called out in the shareholder letter. Maybe gives a sense, is this sort of an added focus for the company? Are you merchandising more? Is there just gems? Is just sort of an exceptional product just gives a sense there to be helpful? Thank you.
就公司的采购而言，你似乎在宝石业务方面取得了一些成功，这也被称为在股东信中提到的宝石业务。也许你可以让我们明白一下，这是公司增加了业务的重点吗？是你们增加了更多的产品吗？还是只是宝石业务是一个特殊的产品呢？如果能进行解释会很有帮助。谢谢。
Yeah. That's a great question. We are spending more effort on in-app purchases. That's something that, you know, we really, it wasn't until recently that we had a team really focus on that. And when we're growing at this point, we're about 5% of our revenues are in-app purchases. You know, sometimes people ask us how big can that be as a fraction of our revenue? And you know, the honest answer is I don't know. But if you look at comparable something like Tinder has about 30% of the revenue from an in-app purchases. So we think there's a lot of room to grow from 5%.
是的，这个问题很好。我们正花更多的精力在应用内购买上。这是我们前不久才专门组建的团队研究的。现在我们的收入，约5%来自应用内购买。有人问我们，我们的收入可以有多少比例来自这种购买方式呢？诚实地说，我不知道。但如果你看一下类似 Tinder 这样的应用，其收入的约有30%是来自应用内购买。因此，我们认为，从5%到更高的比例还有很大的提升空间。
The main way in which we're going to be doing in-app purchases is through this gem economy, which is a virtual currency for the wellingo. And mainly we're going to be building more and more features that encourage users. These are usually gamified features that encourage users to spend their gems. And you're going to see us building a lot more of those over the next, well over the next several years.
我们进行应用内购买的主要方式是通过这个宝石经济体系，在这个经济体系中威尔林高拥有虚拟货币。我们主要会建立更多的功能，来鼓励用户使用应用。这些功能通常是游戏化的，鼓励用户花费他们的宝石。你会看到我们在未来几年内会建立更多这样的功能。
Great. Thanks Luis. Appreciate it.
太棒了。谢谢，路易斯。我很感激。
Thank you. Thanks, well. And your next question comes from Ryan McDonald at Needham. Thanks for taking my question and congrats on a nice quarter here. Want to start international?
谢谢。好的，下一个问题来自Needham的Ryan McDonald。感谢您回答我的问题，并祝贺您取得了不错的季度业绩。您想开始谈论国际业务吗？
Obviously, that's been a big focal point for the business, you know, earlier this year, re-entering China. But I thought it was interesting as well that I do O'Conn. You talked about sort of two new launches. One, Cantonese from Mandarin speakers and then English from Bengali speakers, which really unlocks two large learner populations in Indian China. So just curious, you know, what progress you're seeing internationally in the quarter and maybe how those new languages really drove that business and what's happening there.
显然，重新进军中国对于我们的业务来说一直是一个重要的焦点。但我认为同样有趣的是，O'Conn谈到了两个新的推出。一个是由普通话说话者学习粤语，另一个是由孟加拉语说话者学习英语，这两种语言真正开启了印度和中国这两个庞大的学习人群。因此我很好奇，您在本季度在国际市场看到的进展如何，这些新语言如何推动业务发展，以及国际市场的现状。
Yeah, thank you for the question because, you know, it's something that we are spending a lot of effort on just to remind everyone, you know, we're again mainly a subscriptions business. And, you know, about half of our revenue comes from English-speaking countries, you know, US, UK, etc. We think there's a lot of room to grow internationally.
谢谢你的问题，因为这是我们正在花费大量精力提醒大家的事情。我们主要是一个订阅业务，约一半的收入来自英语国家，如美国、英国等。我们认为国际上还有很大的增长空间。
If you look at the language learning market, like the offline language learning market, the vast majority of it, the spend is internationally in particular learning English, which is, you know, we're a little different because we're online, we're an app. We're still getting a lot of the spend, you know, come from places like the US or the UK, but offline, you would see the majority of the spend internationally. So we think there's a major opportunity and that's going to be a focus for us over the next several quarters.
如果你观察语言学习市场、像是传统的线下语言学习市场，大部分的投入就是为了学习英语，而这也是我们的不同之处，因为我们是线上的、一个应用软件。虽然我们仍然从美国或英国等地得到大部分的投入，但在传统的线下市场上，大多数的花费则来自国际市场。因此，我们认为这是一个重大的机会，也会是我们未来几个季度的重点关注领域。
We're doing exactly what you said. We are not only adding courses to learn, typically courses to teach English to different populations, but not only adding them, but more importantly, expanding those courses and really making them teach to more advanced users. So we're spending a lot of effort on that and things like enough purchases are going to be helping us for that also because, you know, there's certain regions where subscriptions are, you know, not preferred. So kind of one-time payments are probably going to be helping us for that. So i mean, the main thing that I would say is this is a major focus for us and we're going to be working on that again for the next several years.
我们正在按照您的要求进行。我们不仅增加了可以学习的课程，通常是针对不同人群教授英语的课程，而且更重要的是，我们正在扩展这些课程，并将它们真正教授给更高级别的用户。因此，我们正在付出很多努力，而像足够的购买这样的事情也会对我们有所帮助，因为在某些地区，订阅并不被看重。因此，一次性支付可能会对我们有所帮助。我想说的主要是，这是我们的主要关注点，并且在接下来的几年中我们将继续致力于此。
That's really helpful. And maybe then on a marketing advertising campaigns, this is an area where you've been really efficient. You know, it was great to see this, the nice progress you made up of the game of Thrones collaboration. But, you know, there's a major sporting event coming up at the end of the month that brings millions of people together, you know, from all different languages. You know, it seems like a potential natural opportunity for Duolingo, you know, to maybe capitalize on that. Just curious, you know, are you doing anything around this event? And perhaps previously when we look at Olympics or other major soccer tournaments, like, has that, has you seen it sort of that as a catalyst to drive more learners to the platform? Thanks.
这非常有帮助。在市场广告推广方面，你们似乎非常高效。看到你们与《权力的游戏》的合作取得了很好的进展，真是不错。但你们知道，这个月底有一场重要的运动会将汇聚来自不同语言的数百万人。这似乎是Duolingo一个很自然的机会来利用这个事件。只是好奇，你们是否在这个事件周围做了什么？我们以前看过奥运会或其他大型足球比赛，你是否看到它们成为驱动更多学习者加入该平台的催化剂？谢谢。
Yeah, it's a great question. So we definitely have a lot of stuff planned, particularly our social media. I mean, if you've been following our social media, we're quite good at social media. I mean, we do, you know, we're really kind of strike a court with it. So there's a lot of stuff planned. Certainly you'll see our mascot Duol, you know, doing silly things with, you know, in soccer fields. So we have a lot of stuff planned for that. You're not going to see us do things like sponsor the entire world cup or something like that. That would, in our view, not be very efficient marketing. But I think we're going to be able to capitalize a lot on this. We're also doing these things where that allows that are going to allow people to send either cheers or insults to, well, I mean, these are clean insults. They're not like terrible insults to, you know, teams in other languages. So we have, we have marketing campaigns like that on social media. So we're going to be, it's pretty cool. So I'm pretty excited about that.
嗯，这是个好问题。我们确实有很多计划，尤其是我们的社交媒体。如果你一直在关注我们的社交媒体，你会发现我们非常擅长社交媒体。我们在这方面真的很厉害。所以我们有很多计划。你肯定会看到我们的吉祥物Duol在足球场上做一些傻事。我们还有很多计划。当然，你不会看到我们赞助整个世界杯之类的事情。在我们看来，这样做并不是很有效的营销。但我认为我们将能够充分利用这个机会。我们还在社交媒体上推出了允许人们向其他语言的团队发送欢呼或侮辱的活动。当然，这些侮辱是干净的，并不是非常恶劣的侮辱。所以我们在社交媒体上有类似这样的营销活动。这非常棒。所以我对此感到非常兴奋。
That was great. We'll come back again. Thanks for the questions. Thanks Ryan. And the next question comes from Mariel Lu at Barclays.
很不错。我们会再来的。谢谢你提出的问题。感谢Ryan。接下来的问题来自巴克莱银行的Mariel Lu。
Great. Thanks for taking questions. The first one's on the in-app purchases. As you continue to build out these new features like match madness, how do you strike a balance between optimizing for learning efficiency and monetization?
太好了，感谢您愿意回答问题。第一个问题是关于应用内购买的。随着你们不断开发像匹配狂欢这样的新功能，你们如何平衡学习效率和货币化的优化？
That's a great question. For every feature that we build, we try to do three things. There's three things that we're really looking at. Whether it's engaging, whether it helps with monetization and whether it helps with teaching. And in all cases, usually each feature helps with one thing. But what we try to do is that it does not hurt the others. So for in-app purchase stuff, most of the features that we're going to be building are probably going to be mainly helping with monetization. But we just want to make sure that they don't hurt engagement and also don't hurt learning. So you know, generally, whenever we put something out there, even if it's like what may seem like a silly game like match madness, there's actually quite a bit of learning value there from the time aspect to it. Like, basically try to get tries to get the words kind of more cemented in your head. So we're going to be trying just to make sure that it does not decrease any learning outcomes.
这是一个很棒的问题。对于我们建立的每一个功能，我们都试图做三件事情。我们真正关注的是三件事情。无论是吸引力，还是帮助赚钱，还是有助于教学。在所有情况下，通常每个功能都有助于一件事。但我们试图做的是，它不会伤害其他方面。因此，对于应用内购买方面的东西，我们将要建立的大多数功能可能主要有助于赚钱。但我们只是想确保它们不会损害参与度以及不会损害学习效果。因此，一般来说，无论我们发布什么，即使像疯狂匹配这样似乎很傻的游戏，其实也有相当多的学习价值，如时间方面。基本上试图把单词记在脑子里。因此，我们将会尝试确保它不会减少任何学习成果。
Great, that makes sense. And then maybe one on the New Year's promo. Seems from the Shareholder letter, you guys are pretty excited about it this time around. Especially after last year's success. Anything to really look out for this time around that may be different, but that we should monitor?
太好了，很有道理。那么也许可以谈谈新年促销活动方面。从股东信中可以看出，你们这次相当兴奋，特别是在经历了去年的成功之后。这一次有没有什么特别的要注意的地方，可能与以往不同，但我们应该密切关注？
We've done the New Year's promotion several years in a row. We've gotten quite good at it. We know we know when to start it. We know which day to start. It's like basically December 28th. That's the best day to start. We've A B tested the hell out of all of these. And so we're pretty excited because every year it works out pretty well. We're, you know, you're going to see us one thing, of course, it looks different than previous years because we changed to look and feel of our subscription. It used to be called the Olingo Plus. Now it's called super duelingo with much better graphics. It's going to look different. And we're going to try a new A B, a number of new A B test, for example, we're also going to be including the family plan. Whereas in previous years, we hadn't included the family plan. So there's stuff like that. But generally, we're just we're just excited because it is it is a really exciting time of growth for duelingo. We see it every year in during new year.
我们已经连续几年进行了新年促销。我们已经做得非常好了。我们知道何时开始。我们知道哪一天开始。基本上是12月28日。那是最好的开始日期。我们已经对所有这些进行了A/B测试。因此，我们非常兴奋，因为每年都会非常成功。当然，您会看到我们的一个变化，因为我们更改了订阅的外观和感觉。以前它叫做Olingo Plus。现在它叫做Super Duolingo，拥有更好的图形。这将会有所不同。我们将尝试一些新的A/B测试，例如，我们还将包括家庭计划。而在以前的几年中，我们并没有包括家庭计划。就是这样。但总的来说，我们很兴奋，因为这确实是duolingo增长的一个非常激动人心的时间。我们在新年期间每年都能看到这种情况。
Not only do we get an influx of users because of New Year's resolutions, but the New Year's promotion allows us to really capitalize in terms of, you know, money for that. So we're pretty excited by it. Okay. Thank you.
我们不仅因为新年的决心而吸引了大量用户，同时新年促销也让我们在赚取资金方面得到更好的利用。所以我们对此非常兴奋。好的，谢谢。
Okay. And your next question comes from Mark Mahaney at Evercore. Go ahead, Mark.
好的，下一个问题来自于Evercore的Mark Mahaney，请问，Mark。
Okay. I think the one of the most interesting things in the print is this number of MAUs, I think seven million. I think that's a record high. So could you tell us what the source of those MAUs were and any early read on into whether they are likely to convert into subscribers as well with the lifetime value of these of these record high MAUs is. Thanks.
好的，我认为印刷品中最有趣的事情之一是这个月活跃用户（MAUs）的数量，我认为是七百万。我认为这是创纪录的高水平。所以你能告诉我们这些MAUs的来源以及他们有没有可能转化为订阅者，这些创纪录的高MAUs的终身价值是多少。 谢谢。
Thanks. So yes. So this this quarter, I mean, basically we've seen accelerated both DAU and MAU growth. And so we're very happy with that. The source is the same thing that's been, you know, throughout basically most of our growth is organic through word of mouth. And we just keep, you know, the the fly will just keep getting better and better. I think mainly because the product keeps better and it keeps getting better and better. We're able to retain users more. And they tell the friends more when we add more social features and stuff like that. So there's that. In terms of, you know, how likely they are to convert our conversions, our conversion rates are, you know, staying pretty steady or increasing over time. So they're about as likely to convert as the, you know, all the ones that have been in the past. So this is why we think, you know, for us, we're very excited with with general user growth because it's kind of the top of the funnel that that gets us more users, which then gets us more subscribers, which, you know, makes us more revenue.
谢谢。是的。这个季度，我们看到了DAU（日活跃用户）和MAU（月活跃用户）增长加速。我们对此感到非常满意。增长的来源仍然是我们大部分增长的来源，即口碑宣传。我们不断改进我们的产品，因此我们能够更好地保留用户，并在添加更多社交功能等内容时吸引更多用户。就转换率而言，我们的转换率很稳定或逐渐增加。他们转换的可能性与过去的用户一样高。因此，我们非常期待我们的普通用户增长，因为它是让我们获得更多用户、订阅者和收入的最前沿。
And then two more questions. Just anything interesting geographically wise in terms of where those MAUs came from. Is that like six and a half million people from Beijing, you know, just, it's a big number. So I'm just asking where those people came from.
接下来还有两个问题，就是从地理角度来看，这些 MAUs 来自哪里有什么有趣的地方。这是六百多万人口来自北京吗？这是一个很大的数目。所以我只是想知道这些人来自哪里。
And then can I switch over to DuoMathos? So I, you know, I've downloaded the app, but I haven't used it enough yet. I'll do it. Just talk or just talk if you don't mind about the monetization path for it. Not how quickly you want to monetize it. But do you think that the path is there to monetize it as well as you've done language, you know, math is a critical skill. And I saw you have adult stuff and stuff for early training. It's a critical skill, arguably, maybe more critical than language. I don't know. But just talk about how you think about the path of getting it out there monetizing it. Do you think it'll be just as organic in its growth as as DuoLingo has been as a language app to date? Thanks a lot.
那么我能转换到DuoMathos吗？我已经下载了这个应用程序，但是还没有使用它足够长的时间。我会的。如果您不介意，请谈谈它的货币化路径。并不是您想要多快地将其货币化。但是，您认为是否存在像您处理语言一样货币化它的路径呢？您知道，数学是一项至关重要的技能。我看到您有成人内容和早期培训的内容。这是一个至关重要的技能，可以说比语言更为重要。但是，请谈谈您如何思考推出货币化方法。您认为它能像DuoLingo这样有机地增长吗？谢谢。
Sure. Okay. So the first question is in terms of geography and where, where are the kind of the new MAUs coming from and, you know, kind of geographic spread. But generally, we're seeing that we're growing across all geographies. Of course, some are growing faster than others. Asia continues to be our fastest growing place. It's not China. I mean, China has been growing some, but I mean, it's, you know, it's countries like India, Vietnam, etc. But, you know, that's the fastest growing region. We're actually seeing above average growth in countries where we monetize really well. So, US, UK, Western, Europe are all growing above average. For us above the average, I guess 51% DAU growth or whatever, 35% of EU growth, US and UK are growing above that. So it's across all regions, but there's a few regions that are doing a little better.
好的，第一个问题关于地理位置和新的月活跃用户从哪里来，以及地理分布情况。但总的来说，我们在所有地区都看到了增长。当然，一些地区增长速度比其他地区快。亚洲仍然是我们增长最快的地方。不是中国，中国也有一些增长，但是它的国家如印度、越南等增长最快。但是，我们正在看到在我们获得良好货币收益的国家，增长率都超过了平均水平，如美国、英国、西欧。对于我们来说，美国和英国的增长率都超过了平均水平，如 DAU 增长 51%，欧盟增长 35%。因此它是在所有地区进行增长，但是有一些地区做得更好。
In terms of math and monetization. So, first of all, we launched this app two weeks ago where we're very happy with the launch so far. Everything has gone, you know, as expected or better than expected. We're very happy with the product. As you notice, we have stuff for adults and also for children. One of the things that is interesting.
在数学和商业化方面，首先，我们在两周前推出了这个应用程序，迄今为止我们对推出感到非常满意。一切都按照预期或超出预期进行。我们对产品非常满意。正如您所看到的，我们有成人和儿童的内容。其中一个有趣的事情是。
So the content there so far, the content, is basically third and fourth grade math. And if you have forgotten what that means, it's fractions, multiplication, angles, area of certain geometric shapes, perimeter of certain geometric shapes, etc. It turns out that adults really like this. And if you actually look at it, we have more adult uses than we have children users in the math app so far. Again, it's only been two weeks, so it's early, but I think this app is going to be used more by adults than children. That's kind of what I think.
目前，我们数学应用的内容大致涵盖了三到四年级的数学知识。具体来说，包括分数、乘法、角度、某些几何形状的面积和周长等等。事实证明，成年人非常喜欢这些内容。如果您认真观察，您会发现我们的数学应用中成年人的使用量要大于儿童用户的使用量。虽然目前只过去了两周，但我认为这个应用在未来会更受成年人的欢迎，这就是我的想法。
In terms of monetization, I'm pretty confident will be able to monetize this app pretty similarly to Duelingo. And I think what'll happen. And again, I'm talking about something that's going to happen quite in the future. So, you know, take it with a grain of salt. But I think what we'll end up doing is we'll probably end up putting an ad at the end of a lesson. And then we're going to have the Super Duelingo subscription, which is going to be shared across our apps to help monetize this. We think that the family plan is going to help with this, but we also think that the math app by itself is going to stand on its own.
就赚钱方面而言，我非常有信心可以像Duelingo一样获得收益。我认为，接下来会发生什么，我正在谈论的是未来的事情。所以，请取之以轻，但我认为我们最终会在课程结尾放置广告，还会推出超级Duelingo订阅，其将在我们的应用之间共享，以帮助获得收益。我们认为家庭计划会有所帮助，但我们也认为这个数学应用本身也能够独立发挥作用。
Okay, thank you, Luis. Sure. Thanks, Mark. And the next question comes from Eric Sheridan at Goldman Sox. Thanks so much for taking the questions. Maybe I'll follow up on that discussion you just had with with Mark about math, but brought it out a little bit.
好的，谢谢，路易斯。当然。谢谢，马克。下一个问题来自高盛股票的埃里克·谢里丹。非常感谢您回答问题。也许我想追问一下你刚刚与马克关于数学讨论所说的，但是我会深入一点点。
When you think about the long term, and building more and more experiences and more and more apps and building on a platform, how should we be thinking about you utilizing the core Duelingo user today to potentially mine for additional use cases and additional platform strength and growth or leaning into virality, which you did with the original Duelingo app. How do we think about the platform strength building versus elements of that? And maybe spend more marketing because they're individual use cases by apps.
当考虑到长期的发展和建立更多的经验和应用程序以及在平台上进行增长时，我们应该如何思考您如何利用Duelinguo的核心用户来挖掘额外的用例和平台强度和增长，或者像您在原始的Duelinguo应用程序中所做的那样倾向于病毒式传播。我们该如何考虑平台强度的建设与其中的元素？或许还需花费更多的营销，因为它们是应用程序的个别用例。
And then to bring Matt into the question as well, how should we think about that in terms of like what you had to invest in 22 against the product moment, that as we get into 23 and 24 and layer more monetization on top of those investments? How should we think about margin lift over the medium to long term? Thanks guys.
然后，也牵涉到马特，我们如何考虑22年所投资的产品动力与未来23年和24年所加强的获利能力之间的关系呢？在中长期内，我们应该如何思考利润率的提升？谢谢各位。
Thank you Eric. Thank you for the question. So okay, the first thing to say is, and it's something that I think we need to emphasize in every earnings call, for the foreseeable future, the majority of our business is going to continue being language learning. I mean, language learning is we have a lot of room to grow in language learning. We're really only believe we're scratching the surface and we're early in our monetization days. So and as you can see our app is the growth is actually accelerating for the language learning app. So for the foreseeable future, you know, call it the next two, three years at least, it'll be mainly language learning.
非常感谢Eric的提问。首先要说的是，这是我们每次财报电话中都需要强调的一点：在可预见的未来，我们的主营业务将继续是语言学习。我指的是，语言学习领域还有很大的增长空间。我们认为我们只是刚刚开始实现盈利。而且，正如您所见，我们的语言学习应用的增长速度正在加速。因此，在未来的两到三年里，我们的主要业务仍然是语言学习。
Now, of course, we're working on other apps. The math app is the first one. We have, you know, we're probably going to be releasing other ones. And we are going to be working quite a bit on cross promotion to be able to send some of our users to the new apps. Now, we want to do it in such a way, by the way, games are very good at this. We want to do it in such a way that we send some of our users from Duelingo to, for example, the math app, such that we also don't lose the Duelingo user. So they stay, it's kind of like a like a double win there. They stay on Duelingo, but we send them to also start using the math app. We think that'll be able to see that quite well. We're starting a team that is exactly doing that. And we think we have, we think we have quite a bit of potential for cross promotion here. So, you know, but this is early and we'll see what happens over the next, you know, we'll see over the next year, two year and a half, how that goes in terms of growth.
当然，我们现在正在开发其他应用。数学应用程序是第一个。我们可能会发布其他应用程序，因此我们将努力进行跨应用程序宣传，以将我们的某些用户发送到新的应用程序中。我们希望以一种类似于游戏的方式进行，以便我们将一些Duelingo用户发送到数学应用程序中，同时我们也不会失去Duelingo用户。他们仍然会继续使用Duelingo，但我们也将把他们引导到开始使用数学应用程序。我们认为这将能够很好地实现目标。我们正在成立一个专门的团队来处理这个问题，并认为我们在跨应用推广方面具有相当大的潜力。但这还很早，我们将在未来的一两年中观察增长情况。
Yeah. And then Eric, on the second part of your question around the investment. So I think one of the really special things about the Duelingo platform is that we were able to not only launch math faster than we otherwise would have been if it were kind of a denovo app, but all of the learnings that we've had from what makes an app engaging and effective port really nicely from language learning into math. And so when you ask about our 2022 investment and the investment that we're making over time, it's primarily, you know, engineers, progn managers and designers. But we're able to launch these with very small teams because they're leveraging all of the mechanics that we built. And it's just incredibly scalable. So for me, when I think about the the margin impact, it's not been very much and I don't think it'll be that much more in 2023. And then when you think about marketing, again, we fully expect these to be organically grown apps. In fact, that's what, you know, that's our goal with them. And so the marketing impact will be, you know, small as well. So that's the power of the platform that we built. Thanks for the color.
嗯，Eric，关于您的投资问题的第二部分，我认为Duelingo平台的一项非常特别的事情是，我们能够不仅比起全新的应用程序更快地推出数学学习，而且我们从语言学习中得到了很多关于应用程序如何吸引人、有效的启示，这些启示很容易传递到数学学习中。因此，当您询问我们在2022年和未来时间内的投资时，主要是投入工程师、产品经理和设计师。但由于我们已经建立起的所有机制，这些小团队就可以推出这些应用程序，且非常易于扩展。对我来说，当我考虑利润影响时，这并不算太多，我认为在2023年也不会有很大影响。而当您考虑到市场营销时，我们完全希望这些应用程序能有机地增长，事实上，这也是我们的目标。因此，市场营销影响也将很小。这就是我们建立的平台的力量。感谢您的关注和理解。
Okay, the next question comes from Aaron Kessler at Raymond James. Great. Thank you. Two questions. I mean, first, just maybe if you can update us on the family plan adoption and kind of what's that what's that's doing for retention rates. Second, you talk a little bit about shifting some of the ad supply for more internal promotion. Just curious if you're seeing the results thus far in terms of that driving more subscriptions as well as a set, I guess, third question. Beige, any macro softness you're seeing on advertising overall. Thank you.
好的，下一个问题来自雷蒙德·詹姆斯的亚伦·凯斯勒。非常好，谢谢。我有两个问题。首先，请问能否给我们更新一下家庭计划的采用情况，以及这对于会员保留率带来了什么影响。其次，您谈到减少一些广告供应以促进内部推广，我想问一下是否看到了更多订阅用户的增长。还有就是，贝奇，您是否在总体广告领域看到了任何宏观弱势。谢谢。
Okay, so sorry, the first question. What was the first question? Family plan. Family plan. Yes, yes, yes, family plan. Oh, yeah. So family plan is growing quite nicely. You know, we've we've we now I think are you know, last time we we spoke family plan was in the single digits with cross double digits. So and it's growing it keeps growing growing quite nicely. And of course, the really nice thing about family plan is that retention of people in the family plan is much higher again, because if you're paying and as long as any of them, any of the people in your family are still using it, you're going to continue paying. So we feel very good about that. You know, in terms of the exact what exactly has done to our overall retention, I don't actually know of the top of my head. I'm sure Matt does, but I'm not sure who released that. But we're going to let Matt answer that that one.
好的，非常抱歉，刚才的问题是什么来着？家庭计划。家庭计划。是的，是的，是关于家庭计划的问题。噢，是的。家庭计划增长得很不错。我们现在已经有了一个双位数的用户群体，上次我们谈论时，仅有单数位数的用户。而且它还在不断增长。当然，家庭计划的一个真正好处是，家庭计划用户的留存率要高得多，因为只要家庭计划中的任何一个人仍在使用，你就会继续支付费用。所以我们对此感到非常满意。关于家庭计划对我们整体留存率的具体影响，我现在并不清楚。我相信马特知道，但我不确定是否可公开。所以这个问题我让马特来回答。
Matt, I don't know why. Yeah, for sure. So I mean, I think the way to think about retention, there's there's two types of the retention that we we measure. So on user retention user retention is continuing to grow nicely for us. Your focus your question was primarily around subscriber retention. So when you look at the platform level, so take all of the subscribers we have and how are they retaining that retention rate has gone up dramatically over the past year or two, because we've seen a real big mix shift from monthly to annual plan and the annual plan retains better. Family plan is a subset of that that retains even better. And so the, you know, well, it's probably not like the biggest material platform level shift. We expect the cohort level retention to be improved for some time and even more as we increase the family plan percentage. So we're really happy with how that's retaining and how that's going to impact the LTV of the platform.
马特，我不知道为什么。是的，当然。所以我想，思考留存率的方式，有两种留存率我们要衡量。用户留存率对我们来说仍在不断增长。你的问题主要集中在订阅者留存上。当你看平台层面时，获取所有订阅者并观察他们的留存率，可以发现过去一两年里，留存率大幅提高，因为我们看到从每月计划转变为年度计划的大量转换，而年度计划留存效果更好。家庭计划是其中一个留存效果更好的细分领域。因此，虽然这可能不是最重要的平台级转变，但我们预计将在一段时间内改善同样的历期留存率，并在增加家庭计划比例时更多地改善。因此，我们对留存率的保持以及对平台LTV的影响非常满意。
Your next question was on ads. And so, you know, the ad revenue, as you can see from our financials, was impacted, we think, by what looks to be a kind of industry-wide advertising slowdown. So I don't think there's anything super surprising in that. I think there was some foreign currency impact as well, because a lot of our ad business comes on Android outside the US. But again, ads to us again, as Luis mentioned, they're not a material part of our business. They're not strategic outside of the fact that they help us convert to free users to subscribers. So we saw it, but we think it's just not that big of a deal for our business going forward.
下一个问题是关于广告。正如您从我们的财务状况中看到的那样，广告收入受到了业界广告放缓的影响。因此，我认为这没有什么特别令人惊讶的。我们认为外汇影响也有一些，因为我们很多广告业务都来自于美国以外的安卓平台。但是，正如路易斯所提到的，对我们而言，广告并不是业务的重要组成部分。它们的战略意义在于帮助我们将免费用户转化为订阅用户。因此，我们看到了广告受到了影响，但我们认为对于我们未来的业务来说并不是那么重要。
Thank you. Part of your question, I think, was also that we, whether we've tried switching some of our ads to ads to subscribe. And yes, we keep running experiments to do that. There's some optimal mix. And you know, we keep trying to find it. So yes, we are always running experiments to see what is the right mix. It turns out the mix depends on the user. There are some users that are a lot more likely to subscribe for them. It's probably a lot better to give them ads to subscribe, where there are some users that are just essentially never going to subscribe. And for them, the best thing we can do is just probably give them a program at accounts. Great. Thank you. Thanks, Erin.
谢谢。我认为你的问题之一是我们是否尝试将一些广告转换为订阅广告。是的，我们一直在进行实验以此来试图找到最优的混合比例。实际上，这个比例取决于用户。有些用户更有可能订阅，为了这些用户，最好的做法可能是给他们订阅广告；而有些用户基本上永远不会订阅，对于他们来说，我们能做的最好的事情可能是提供账户程序。所以，我们一直在进行实验，以找到正确的比例。谢谢，艾琳。
And the next question comes from Nash in Laura, Bank of America. Yeah. Yeah. Hi, guys. A couple of questions.
下一个问题来自美国银行的 Laura 的 Nash。嗨，大家好，我有几个问题。
First on the user numbers, just digging in a little bit there. Q3, at least in the Northern Hemisphere is when school starts. So was there any new promotions and pushes to get school children using the product that would have helped that number? Or is this just viral?
首先，关于用户数量，让我们深入探讨一下。Q3，在北半球是学校开学的时间。因此，在这个季度内，是否有任何新的促销和推广活动，以鼓励学生使用该产品？这是否只是病毒式的增长？
Well, it's a good question. So yes, in the Northern Hemisphere, school starts in Q3 usually. And every year we see a growth that has to do with back to school. We run some, yeah, we don't do a promotion, but we run some kind of very efficient marketing that is, you know, either on our social media or a little bit of paid acquisition that is related to schools. We also have a school's product, which is the link for schools. What it is, is a dashboard for teachers. So the students use the normal dual angle, but the teachers have a dashboard that tracks, you know, what the students are doing as opposed to having to go and look at every phone kind of in person.
“这是个好问题。在北半球，学校通常在第三季度开学。每年，我们都会看到与返校有关的增长。我们会进行一些非推销的营销，例如在社交媒体上或进行一些跟学校相关的付费收购活动。我们还推出了“学校产品”，即面向教师的仪表板。学生使用普通的“Dual Angle”，但是教师可以使用仪表板来跟踪学生的学习情况，而不必亲自去查看每个手机。”
So we have that product, but we've had that product, you know, for a couple of years. And so we see this growth every year. But this year, you know, we see accelerated growth. So it's, I guess we're doing even better than the previous years. Not just with back to school. My guess is that that had something to do with it, but more of it was just organic growth that keeps getting better and better.
我们有这个产品，但我们已经有了这个产品，你知道，已经有几年了。所以我们每年都看到这种增长。但是今年，你知道，我们看到了加速增长。所以，我想我们做得比之前的年份更好了。不仅仅是在返校季。我猜这可能与此有关，但更多的是有机增长一直在不断变得更好。
Great. And second question. Is there been any change or can you give us any clarity on what the, where you are on the duration of your average booking, what you're selling?
太好了。第二个问题是，您是否做出了任何更改或者您是否能够澄清一下您在平均预订时长方面的状况以及您在销售方面的情况？请用尽量简单易懂的语言表达。
I think the last time you were around 90% annuals, has that changed? And can you tell us what it was like over the last few quarters so that we can be aware when this is how it's been affecting numbers?
我记得你们最后一次的周转率大约是90%，现在是否有所变化？你能告诉我们过去几个季度的情况，以便我们了解这种情况是如何影响数据的吗？
Yeah, it's a great question. And so that the answer is we're roughly still around 90% annual plan. And I think when you look back a year ago, the number was in the 70s. So as we've gone through the course of the past called four to six quarters, the percentage that was been annual plan has gone up quite substantially. It can't go up the same amount anymore, right? We went up for, if it went from 70% to 90%, you know, it can't go from 90 to 110%. So the way we're extending the retention of it, the least is questioning my mouth. Maybe it can go up 100%. I don't know. But the way we're extending the kind of synthetic duration, I guess, to use a bad phrase is through things like the family plan, right?
是的，这是一个很好的问题。我们大约仍然有90%的年度计划。回顾一年前，这个数字在70%左右。所以，在过去的四到六个季度里，年度计划的比例显著提高了。它不能再提高同样的数量了，对吧？如果从70%上升到90%，你知道它不能从90%上升到110%。我们延长保留它的方式，至少是通过我们的家庭计划。也许它可以增加到100%。但我们通过家庭计划等方式来扩展人工保留期限，也是一种综合的方法。
That's how you actually extend the lifetime of the, the subscribers longer as you increase the retention through things like that. Now, it's not just a problem for the extending the lifetime. That's great too, but I assume when you, if everybody's looking at bookings growth, if you're increasing the amount of annuals, you're selling 12 months instead of one month, one and a half month, I guess, in a quarter on average, that can have a pretty big effect. Is there a quarter where we should really watch for that?
这就是你如何真正延长订户的生命周期，通过像这样增加保留率，你可以让订阅者的订阅持续更长时间。现在，这不仅仅是为延长生命周期而存在的问题。这也很好，但是我假设如果每个人都注意到预订增长，如果你增加了年度订购量，你就可以卖出12个月而不是一个月或一个半月，并且平均每个季度都可以有一个相当大的影响。那么有没有某个季度我们应该特别关注这一点呢？
Yeah, over the course of 2023, we will see some impact from that, but there's not going to be one particular quarter. And in general, we still feel that we'll be able to to lap those quarters well in terms of growth.
是的，在2023年期间，我们将看到一些影响，但不会只有一个季度。总的来说，我们仍然认为我们将能够在增长方面很好地应对这些季度。
Great. Thank you.
太好了。谢谢您。
And the next question comes from Arvin Romnaani at Piper Sandler. Hey, thanks for thinking my question. I want to ask a couple of questions on on Matt.
下一个问题来自Piper Sandler的Arvin Romnaani。嗨，谢谢您考虑我的问题。我想在Matt上问几个问题。
So it's, you know, still the early days for Matt and, you know, it's too early to kind of say, you know, where this is going to go by, but I know you'll kind of track data by the hour by the day, certainly. So these early days, like, how is the adoption in numbers if you have? And if you don't have the, you don't want to share numbers, like, maybe at least can you give us cohorts, right? Like our existing language users, folks who are paying users of dual-angle or these fresh green fill users, like just give us the nature of the, the poor of customers that find up for the Matt product. Thank you.
目前来看，对于马特（Matt）来说，还处于早期阶段，现在很难说这个产品将会朝什么方向发展。但是我们会每小时、每天跟踪数据。在这个早期阶段，如果您有数据，我们想了解Matt产品的采用情况如何。如果您不想分享具体数字，那么您能告诉我们用户类型吗？比如我们现有的语言用户、付费用户或新用户。我们希望了解Matt产品的客户类型和属性。谢谢。
Thank you, Arvin, for the question. So there's a number of things to say. So yes, first of all, early days, you know, it's not like we even know that much. I mean, obviously we have all the data you're right. We track it by the hour. We really look at it a lot, but it's very early days. And our experience is that when you launch an app, it just takes a while to, for things to settle to you, for you to really figure out what are, and we just have had this for two weeks.
谢谢您，阿文，提出这个问题。首先，我们能够说的事情还有很多。确实，现在仍然处于早期阶段，我们其实也还不了解太多。当然，我们有大量数据，这些数据每小时都被跟踪，我们非常重视这些数据。但是现在仍然处于早期阶段，我们的经验是，当你推出一个应用程序时，需要一定的时间，才能稳定下来。我们仅仅推出了两周，需要时间来弄清楚哪些部分需要改进。
I can tell you a few things. One, if you look at the retention of the users of the math app so far, it looks actually quite good. It's not as good as dual-angle, but dual-angle is an app that's been optimized for 10 years. So it's hard to compete with, but it is certainly a lot better than the initial retention of dual-angle when we launched dual-angle 10 years ago. So it's a lot better. So we feel pretty good about a completely new app having such good retention. It's good about that.
我可以告诉你一些事情。首先，如果你观察到数学应用程序用户的留存率，你会发现它实际上相当不错。它还不及Dual-Angle，但Dual-Angle是一个经过十年优化的应用程序，所以很难与它竞争。但它的留存率肯定比我们10年前推出Dual-Angle时的初期留存率好很多。所以这是一个比较好的结果。我们对这个全新的应用具有如此出色的留存率感到非常满意。
In terms of the users, we haven't done much. I mean, it's not like we've done any paid advertising. We've not done any marketing campaign or anything. So where the users would come from now is our social media pushes that we've done and some of the press that was written around it and some of the word of mouth that has happened. But there's just not a lot of time that has for word of mouth to happen. There's only been two weeks. So so far, we know that more than half of the users of the math app have a dual-angle account. We know that. But other than that, there's just not we don't know much more than that.
就用户群而言，我们并没有做出太多努力，也就是说，我们并没有进行任何付费广告，也没有进行任何营销活动等等。因此，现在用户可能主要来自我们所做的社交媒体推广、一些报道以及口口相传。但是，这段时间很短，还没有足够的时间让口口相传发生。到目前为止，我们知道有超过一半的数学应用的用户拥有双角度账户，这一点是我们所知道的内容。除此之外，我们并没有太多其他信息。
And then from a product perspective, just looking at initial feedback, have there been any big product enhancements that we need to see or you feel like, hey, because the product is never done, right? Like Medulingo, you've been 10 years old. Changing. So I understand there'll be enhancements in math. But have there been any sort of big sort of like flaws in terms of design, product, anything else that you've identified? Or you feel pretty good about kind of keeping things going at its own graduate base.
从产品角度来看，仅就初始反馈而言，我们是否需要看到任何重大的产品增强或者您是否觉得，由于产品永远不会完成，就像Medulingo一样，您已经十岁了，会有数学上的增强。但是，在设计、产品或其他方面，是否存在任何大的缺陷，或者您是否感到保持自己的毕业基础运转得非常好？
I mean, the truth is we feel pretty good. Before launching, we knew what the roadmap is for the next several years. And the roadmap remains the same given all the user feedback. And you know, this is just going to be like, it's going to be like dwelling like you said over the last 10 years. Dueling was still getting better every single quarter, even though we've been working on it for the last 10 years. I think it's going to be the same for the math app. We have 10 more years of work to do.
我的意思是，事实是我们感觉非常好。在推出之前，我们知道未来几年的路线图。而且，鉴于所有用户的反馈，路线图仍然保持不变。你知道的，这将会像你说的过去十年一样。尽管我们已经在dueling上工作了十年，但每季度dueling仍然在变得更好。我认为数学应用程序也会是如此。我们还有10年的工作要做。
Similarly, I know there's been a lot of questions about math, but I just really want to remind people, language learning is our main thing right now. And it's going to take a while for math to catch up. I mean, it took 10 years for Dueling to make whatever revenue we're making these days, roughly a hundred million bucks a quarter. It's going to hopefully won't take 10 years for the math app to get there, but it'll take several years to get there. And we just have, and in terms of the roadmap, we know we need to add more content. I mean, we have third and fourth grade type content, we're probably going to go to 5.6, type of content. So we're going to add more content.
同样地，我知道数学方面有很多问题，但我想提醒大家，现在我们主要关注的还是语言学习。数学方面还需要一段时间才能赶上。我是说，Dueling这款应用程序花了10年时间才赚到我们现在这样的收入，大约每个季度一亿美元左右。数学应用程序可能不需要10年就能做到这一点，但也需要几年的时间。根据我们的路线图，我们知道需要增加更多的内容。我们目前有三年级和四年级的内容，可能会扩展至五年级和六年级的内容。因此，我们会增加更多的内容。
And we have a number of other things that we just know we need to add that are that come from Dueling. So for example, the streak in the math app is not as sophisticated as the streak on Dueling.
我们还有一些其他东西，我们知道我们需要添加的来自Dueling的功能。例如，数学应用程序中的连胜纪录不像Dueling上的那么复杂。
I mean, the other day we were looking at our streak mechanic for Dueling. That thing is so sophisticated. Like, you would be surprised how sophisticated it is to make sure that users don't lose their streak because losing your streak is like a terrible thing. Whereas the math app has a pretty simplistic version of the streak. So we're, you know, stuff like that. There's all these things that we know from Dueling.
我是说，前几天我们在看我们对决机制的连胜机制。那个东西真是太复杂了。你会惊讶于它的复杂程度，因为保持连胜对于用户来说是非常重要的。而数学应用程序的连胜机制相对简单。所以我们正在整理像这样的事情。我们从对决机制中了解到了很多东西。
Go that we just need to start putting it by putting into the math app, but we haven't yet. Right.
我们只需要把Go放进数学应用程序中开始使用，但我们还没有这样做。没错。
Yeah, I just one last question on math. You know, when I look at Dueling. Go language, you know, there was no other product, there was no user base, you kind of had to kind of build it brick by brick. Math, you have this massive user base, user base, actively engaging. Is there a plan to kind of use this, I would say kind of the core application to promote math?
是的，我在数学方面还有一个最后的问题。你知道，在看到Dueling.Go编程语言时，没有其他产品，没有用户群，你不得不逐步建立它。而数学领域拥有庞大的用户群，他们积极参与。有没有计划利用这个核心应用来推广数学呢？
I mean, have you started to do that? Like, you know, what about a 100% we plan to do that. We have not started that at all. We will.
我的意思是，你已经开始做那个了吗？就是说，如果我们计划做到100%，你会怎么做呢？我们还没有开始做。但我们会开始的。
And the type of integration, you can actually get really good at this type of integration. This is the type of stuff we've talked about. So the simplest thing, which we haven't even done the simplest thing, the simplest thing is just at the end of a Dueling lesson, put an ad that says, hey, by the way, we have a math app. That's the simplest thing, but you can get more sophisticated.
你真的可以在这种集成类型上变得非常好。这是我们谈论过的类型。所以最简单的事情，我们甚至还没有做过最简单的事情，最简单的事情就是在一节Dueling课结束时，放置一个广告，告诉大家，我们有一个数学应用程序。这就是最简单的事情，但你可以变得更加复杂。
Slightly more sophisticated is your ad could be playable. So you can write there, be like, who would try it for a second? And then, and then you can go to the app. But then you can start getting much more, much more integrated.
更为精致的方式是你的广告可以变得可玩。你可以在广告上写上一些鼓励人们尝试一下的话，然后他们可以去下载应用。而后你可以开始更深度地推广你的产品。
For example, on Dueling, we have these things called daily quests where you have to do certain things like complete three lessons or do a story on Dueling etc. We can make one of the quests be go do a math lesson or you can make it so that now your streak on Dueling on the Dueling language learning app could be extended by doing math. So you can do just much better integrations. And so you'll see us do that. We're going to try all these things over the next, however long this takes. We're going to be trying all these things.
例如，在Dueling上，我们有一些叫做每日任务的东西，你需要完成一些特定的任务，例如完成三节课或在Dueling上讲述一个故事等等。我们可以将其中之一的任务设置为去完成一节数学课，或者让你通过完成数学学习来延长你在Dueling应用中的连胜记录。这样我们可以做到更好的整合。你会看到我们将在未来尝试所有这些事情，无论需要多长时间。
Perfect. Thank you very much.
太好了。非常感谢你。
Great. Thanks, Arvind. And showing you no further questions. So I'll turn it back to you, Luis, for any closing remarks.
太好了，感谢你，Arvind。我没有更多的问题了。所以我会把话题转回给你，Luis，进行任何结束语。
I know. Just thank you for all the questions. And you know, keep keep learning languages or math if you want. But yes, remember Spanish or vanish. Thanks, everyone.
我知道。感谢你们所有的问题。如果你想要的话，继续学习语言或数学吧。但是要记得，学西班牙语，不要错失机会。谢谢大家。