使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Good evening, everyone, and welcome to Duolingo's second quarter 2024 Earnings Webcast.
大家晚上好,歡迎收看 Duolingo 2024 年第二季財報網路廣播。
I'm Debbie Belevan, Head of Investor Relations.
我是黛比‧貝萊文 (Debbie Belevan),投資人關係主管。
Today after market closed, we released this quarter's shareholder letter, a copy of which you can find on our IR website at investors.duolingo.com.
今天收盤後,我們發布了本季度的股東信函,您可以在我們的投資者關係網站 Investors.duolingo.com 上找到該信函的副本。
On today's call, we have Luis von Ahn, our Co-Founder and CEO; and Matt Skaruppa, our CFO.
出席今天的電話會議的有我們的共同創辦人兼執行長路易斯‧馮‧安 (Luis von Ahn);和我們的財務長 Matt Skaruppa。
They'll begin with some brief remarks before opening the call to questions.(Operator Instructions)
在開始提問之前,他們將首先進行一些簡短的評論。
And please note, this event is being recorded.
請注意,此事件正在被記錄。
(Operator Instructions)
(操作員說明)
Just a reminder, we'll make forward-looking statements regarding future events and financial performance, which are subject to material risks and uncertainties.
請注意,我們將對未來事件和財務表現做出前瞻性陳述,這些陳述受到重大風險和不確定性的影響。
Some of these risks have been set forth in the risk factors of our filings with the SEC.
其中一些風險已在我們向 SEC 提交的文件的風險因素中列出。
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.
這些前瞻性陳述是基於我們認為截至目前合理的假設,我們沒有義務因新資訊或未來事件而更新這些陳述。
Additionally, we'll present both GAAP and non-GAAP financial measures on today's call.
此外,我們將在今天的電話會議上介紹公認會計原則和非公認會計原則財務指標。
These non-GAAP 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.
這些非 GAAP 衡量標準不應與我們的 GAAP 結果分開考慮、替代或優於我們的 GAAP 結果,我們鼓勵您在分析我們的業績時考慮所有衡量標準。
And with that, I will turn it over to Luis.
這樣,我就把它交給路易斯。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Thank you, Debbie, and welcome, everyone.
謝謝你,黛比,歡迎大家。
I'm excited to report that we delivered another strong quarter with daily active users growing 59% and revenue growing 41% year-over-year.
我很高興地向大家報告,我們的季度表現又強勁,每日活躍用戶年增 59%,營收年增 41%。
We had a record adjusted EBITDA margin of 27%, and this marked our fifth consecutive quarter of being net income positive.
我們的調整後 EBITDA 利潤率為創紀錄的 27%,這標誌著我們連續第五個季度實現淨利潤正值。
We also achieved two milestones: surpassing 100 million monthly active users, and reaching 8 million paying subscribers.
我們也實現了兩個里程碑:每月活躍用戶數突破 1 億,付費訂閱用戶數達到 800 萬。
This is particularly impressive considering that only three years ago, at the time of our IPO, we had 38 million MAUs and just under 2 million subscribers.
考慮到僅三年前,在我們首次公開募股時,我們的每月活躍用戶數為 3800 萬,訂戶數量略低於 200 萬,這一點尤其令人印象深刻。
Our top of funnel growth remains strong, driven both by new users and those returning to the app after having been away for over a month, and that's across both more and less penetrated markets.
我們的漏斗頂部成長仍然強勁,受到新用戶和離開該應用程式一個多月後返回該應用程式的用戶的推動,無論滲透率高還是滲透率低的市場。
Our free, fun and effective app gets better over time through continuous testing and iteration.
隨著時間的推移,透過不斷的測試和迭代,我們免費、有趣且有效的應用程式變得越來越好。
And that's why in Q2, our DAU growth accelerated and we reached a record high 33% DAU-to-MAU ratio.
這就是為什麼在第二季度,我們的 DAU 成長加速,DAU 與 MAU 比率達到創紀錄的 33%。
And not only did our business perform well but we're also making substantial progress on our long-term growth initiatives.
我們的業務不僅表現良好,而且我們的長期成長計劃也取得了實質進展。
This year, our monetization priorities are optimizing both our Family Plan and our tiered subscription plans so that we can offer learners more choices at various price points and increase LTV.
今年,我們的獲利重點是優化家庭計劃和分級訂閱計劃,以便我們能夠為學習者提供更多不同價位的選擇並提高生命週期價值。
We continue to see excellent growth in our Family Plan.
我們的家庭計劃繼續取得出色的成長。
We've rolled out improvements to increase engagement between family members, and we're also helping existing individual subscribers discover and convert to Family Plan more often.
我們推出了一些改進措施,以增加家庭成員之間的互動,我們也幫助現有的個人訂閱者更頻繁地發現並轉換為家庭計畫。
As a result of these efforts, the Family Plan now makes up about 20% of our subscribers.
由於這些努力,家庭計畫現在約占我們訂戶的 20%。
At the end of Q2, we began to see the impact of Duolingo Max, our highest-priced tier with AI-enabled features.
在第二季末,我們開始看到 Duolingo Max 的影響,這是我們價格最高且具有人工智慧功能的產品。
The rollout of Max has progressed so that as of now, it's available in five countries in sorry, in five courses in 27 countries, covering about 15% of our DAUs.
Max 的推出已經取得進展,到目前為止,它已在 5 個國家/地區推出,抱歉,在 27 個國家/地區的 5 門課程中提供,涵蓋了我們約 15% 的 DAU。
During Q3, you will see us expand the number of countries Max is available in.
在第三季度,您將看到我們擴大了 Max 可用的國家/地區數量。
And by year-end, we expect it to be available in most countries on both Android and iOS.
到年底,我們預計它將在大多數國家推出 Android 和 iOS 版本。
This will set us up to see the impact of Max more fully in 2025.
這將使我們能夠在 2025 年更全面地看到 Max 的影響。
We will also be introducing new Max features that we believe will resonate with learners.
我們還將推出新的 Max 功能,我們相信這些功能會引起學習者的共鳴。
This includes AI-powered immersive conversational practice, one of the most requested features over the last 10 years.
這包括人工智慧驅動的沉浸式對話練習,這是過去 10 年來最受歡迎的功能之一。
Join us at Duocon on September 24 for the unveiling of this new magical experience.
9 月 24 日,與我們一起在 Duocon 揭開這一全新神奇體驗的面紗。
I want to conclude by talking about our initiative to better serve advanced English learners, which will allow us to more effectively reach the approximately 1.6 billion English learners who aren't on Duolingo today.
最後,我想談談我們為更好地服務高級英語學習者所採取的舉措,這將使我們能夠更有效地接觸到目前尚未使用 Duolingo 的約 16 億英語學習者。
We now have more advanced content in all 20 of our English courses as well as a stand-alone English course for intermediate to advanced learners.
現在,我們的所有 20 門英語課程以及針對中級到高級學習者的獨立英語課程都提供了更高級的內容。
We have exciting plans for the addition of DuoRadio and Stories to the more advanced levels of these courses.
我們有令人興奮的計劃,將 DuoRadio 和 Stories 添加到這些課程的更高級級別中。
We're also improving how we place learners with prior proficiency so that they feel adequately challenged but without hurting their engagement.
我們也改進瞭如何安排具有先前熟練程度的學習者,以便他們感受到充分的挑戰,但又不影響他們的參與度。
As a reminder, our English learners initiative is a multiyear effort that we expect to monetize over the medium to long term.
提醒一下,我們的英語學習者計畫是一項多年的努力,我們希望在中長期內獲利。
As you can see, we believe in investing in innovation to drive both current and long-term growth.
正如您所看到的,我們相信投資創新可以推動當前和長期成長。
We have very ambitious goals for our business and believe that Duolingo Max and our more advanced English content give us more options than ever before to achieve them.
我們對我們的業務有非常雄心勃勃的目標,並相信 Duolingo Max 和我們更先進的英語內容為我們提供了比以往更多的選擇來實現這些目標。
Of course, this path will not be linear, but we're excited by the huge growth opportunity we see ahead.
當然,這條道路不會是線性的,但我們對未來看到的巨大成長機會感到興奮。
And with that, I'll turn it over to Matt.
有了這個,我會把它交給馬特。
Matthew Skaruppa - Chief Financial Officer
Matthew Skaruppa - Chief Financial Officer
Thanks, Luis.
謝謝,路易斯。
I'll provide some additional color on our Q2 results and then update our guidance for the remainder of the year.
我將就第二季的業績提供一些額外的信息,然後更新我們今年剩餘時間的指導。
To emphasize what Luis said in his remarks, Q2 is a strong quarter for us.
為了強調路易斯在演講中所說的話,第二季對我們來說是一個強勁的季度。
We reaccelerated DAU and MAU growth of 59% and 40%, respectively.
我們再次加速 DAU 和 MAU 的成長,分別達到 59% 和 40%。
We continue to see healthy top of funnel growth, and we saw particular strength in resurrected users who are users who come back to the platform after more than 30 days away, thanks to a seasonal feature we launched that focused on reminding them to do their lessons.
我們繼續看到漏斗頂部的健康成長,並且我們看到了復活用戶的特別力量,這些用戶是在離開平台30 多天后回到平台的用戶,這要歸功於我們推出的季節性功能,該功能專注於提醒他們完成課程。
In Q2, bookings grew 38% year-over-year, revenue grew 41% year-over-year, and we posted our highest quarterly adjusted EBITDA and adjusted EBITDA margin.
第二季度,預訂量年增 38%,營收年增 41%,我們公佈了最高的季度調整後 EBITDA 和調整後 EBITDA 利潤率。
And as Luis mentioned, this is our fifth consecutive quarter being net income positive.
正如路易斯所提到的,這是我們連續第五個季度淨利潤為正。
All around, it was a strong quarter.
總的來說,這是一個強勁的季度。
Going forward into the second half of the year, we feel good about the business even as we lap the incredible strength we saw in the back half of last year.
進入今年下半年,儘管我們在去年下半年看到了令人難以置信的強勁勢頭,但我們對業務感覺良好。
For the full year, we are raising our guidance so that at the midpoint, we are guiding to year-over-year bookings and revenue growth of about 32.5% and 38.5%, respectively.
對於全年,我們正在提高我們的指導,以便在中點,我們的指導是同比預訂量和收入增長分別約為 32.5% 和 38.5%。
Our guidance implies a year-over-year growth rate for the second half of the year of about 27%.
我們的指引意味著下半年的年成長率約為 27%。
Note that if FX rates were constant year-over-year, our Q3 bookings growth rate would be about two points higher and our full year bookings growth rate would be about one point higher.
請注意,如果匯率同比保持不變,我們第三季的預訂成長率將高出約兩個百分點,全年預訂成長率將高出約一個百分點。
To put our top line growth into context, we grew bookings at about 40% year-over-year in the first half of this year, which is roughly the same rate as we grew bookings in the first half of 2023.
從我們的營收成長來看,今年上半年我們的預訂量年增了約 40%,這與 2023 年上半年的預訂量成長速度大致相同。
In the second half of 2023, though, our year-over-year bookings growth accelerated materially up to about 50%.
不過,到 2023 年下半年,我們的預訂量年增率大幅加快,達到 50% 左右。
A meaningful part of that acceleration came from an extraordinary set of tailwinds.
這種加速的一個有意義的部分來自於一系列非凡的順風。
Our signature "ding" was featured in the Barbie movie, providing an incredible brand boost, and in many ways, that was indicative of our commanding presence in the zeitgeist last year.
我們標誌性的「叮」出現在芭比娃娃電影中,提供了令人難以置信的品牌提升,在許多方面,這表明我們去年在時代精神中佔據主導地位。
It also helped our summer marketing campaign deliver homerun user growth.
它還幫助我們的夏季行銷活動實現了本壘打用戶的成長。
That user growth was coupled with some onetime improvements in monetization, especially in Q3 and more favorable exchange rates than today.
用戶的成長伴隨著貨幣化的一些一次性改善,特別是在第三季度,以及比現在更有利的匯率。
This year, we feel good about our user growth and monetization, but we don't expect to see the same one-off accelerating tailwinds.
今年,我們對用戶成長和貨幣化感到滿意,但我們預計不會看到同樣的一次性加速利好。
Lapping last year's extraordinary growth is why we expect DAU growth to decelerate to about 50% in the second half and why we expect bookings and revenue to decelerate as well.
繼去年的非凡成長之後,我們預計下半年 DAU 成長將放緩至 50% 左右,預訂量和收入也將放緩。
Moving down the income statement, we expect gross margin will be down slightly in the back half of the year as our amortization and AI costs increase with the rollout of Max.
從損益表來看,我們預計今年下半年的毛利率將略有下降,因為隨著 Max 的推出,我們的攤提和人工智慧成本將會增加。
We continue to feel confident about our ability to drive increasing profitability and are raising our 2024 adjusted EBITDA margin guidance to 24.5% at the midpoint, which is a full 7 points higher than 2023 and has an incremental margin of 42%.
我們仍對推動獲利能力提高的能力充滿信心,並將 2024 年調整後 EBITDA 利潤率指引提高至中點 24.5%,比 2023 年整整高出 7 個百分點,增量利潤率為 42%。
For Q3, our adjusted EBITDA guide is about $41 million or roughly 80% higher than the same quarter last year.
對於第三季度,我們調整後的 EBITDA 指引約為 4,100 萬美元,比去年同期高出約 80%。
As a reminder, our profitability typically varies a bit from quarter to quarter throughout the year.
提醒一下,我們的獲利能力通常在一年中每季都會有所不同。
For Q3, we expect to see about five points of quarter-over-quarter deleverage in the margin and are guiding to 22.0% at the midpoint.
對於第三季度,我們預期利潤率將季去槓桿化約為 5 個百分點,中位數指引為 22.0%。
This is mainly driven by increased hiring in R&D as we add a significant portion of our new engineering product and design hires in Q3.
這主要是由於我們在第三季增加了很大一部分新工程產品和設計人員,導致研發人員招募增加。
We'll also see seasonally higher sales and marketing spend this quarter.
我們還將看到本季銷售和行銷支出出現季節性成長。
G&A should remain relatively flat as a percentage of revenue.
一般及行政費用佔收入的比例應保持相對穩定。
For Q4, we expect to see slight leverage across all OpEx categories, resulting in about one point of quarter-over-quarter margin expansion compared to Q3.
對於第四季度,我們預計所有營運支出類別都會出現輕微的槓桿作用,導致與第三季相比,季度利潤率擴大約一個百分點。
Note that overall, we shifted about $3 million of expense from Q2 into the second half of the year.
請注意,總體而言,我們將約 300 萬美元的費用從第二季轉移到了下半年。
Finally, we ended the quarter with approximately 49.4 million fully diluted shares outstanding using the quarter end closing price.
最後,以季末收盤價計算,本季結束時,我們已發行約 4,940 萬股完全稀釋後的流通股。
And in 2024, we expect to end the year with about 1% to 1.5% net dilution from equity issued to employees, which is similar to the dilution we had last year.
到 2024 年,我們預計年底時向員工發行的股權將出現約 1% 至 1.5% 的淨稀釋,這與去年的稀釋程度類似。
And with that, I'll turn it back to Luis.
說到這裡,我會把它轉回給路易斯。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Thank you, Matt.
謝謝你,馬特。
As you can tell, I'm excited about the road ahead and confident in our ability to achieve our long-term goals.
正如您所知,我對未來的道路感到興奮,並對我們實現長期目標的能力充滿信心。
And now we would be happy to take your questions.
現在我們很樂意回答您的問題。
I'll turn it back to Debbie to manage the queue.
我會將其交還給黛比來管理隊列。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Okay.
好的。
Thanks, Luis.
謝謝,路易斯。
(Event Instructions) Andrew Boone at JMP Securities.
(活動說明)JMP 證券的安德魯‧布恩 (Andrew Boone)。
Andrew Boone - Analyst
Andrew Boone - Analyst
Luis, you just defined the top of funnel as being healthy for new and returning users.
路易斯,您剛剛將漏斗頂部定義為對新用戶和回訪用戶來說都是健康的。
Some third-party data sources suggest that downloads have slowed.
一些第三方資料來源顯示下載速度已經放緩。
Maybe this is exactly what the comp that Matt is talking about.
也許這正是馬特所說的補償。
But is there anything you guys can help us understand as we think about new user growth and the opportunity to bring more users into the Duolingo ecosystem?
但是,當我們考慮新用戶成長以及將更多用戶帶入 Duolingo 生態系統的機會時,你們有什麼可以幫助我們理解的嗎?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
Thanks for the question, Andrew.
謝謝你的提問,安德魯。
So first of all, we don't comment on third-party data.
所以首先,我們不對第三方資料發表評論。
If you want to watch it or see it, you do you.
如果你想看或看到它,你就可以。
But in general, what we'd like to say, we have users in every single country in the world.
但總的來說,我們想說的是,我們在世界上每個國家都有使用者。
Some countries are more mature than others because we've been in there for much longer.
有些國家比其他國家更成熟,因為我們在那裡待了更長時間。
So the way we think about it internally is more top of funnel, which is brand-new users, which are usually downloads and they're brand-new users.
因此,我們內部思考的方式比較是在漏斗頂部,也就是全新用戶,通常是下載,他們是全新用戶。
But we also look at returning users, people who haven't been around the app for a while, typically longer than 30 days.
但我們也會關注回訪用戶,這些用戶已經有一段時間沒有使用該應用程式了,通常時間超過 30 天。
In countries that are more penetrated, more mature, the number of people that are coming back after a long period of inactivity is much higher than the brand-new users just because we've touched a good fraction of the country.
在滲透率更高、更成熟的國家,長期不活動後回來的用戶數量遠高於新用戶數量,因為我們已經觸及了該國的很大一部分地區。
So generally, this is what we're looking at, and we feel pretty good about top of funnel because of that, that just people it's very rare to see people completely stop using Duolingo.
所以總的來說,這就是我們所關注的,我們對漏斗頂部感覺非常好,因為人們很少看到人們完全停止使用 Duolingo。
What they do is they stop and then they come back 6 months later or they come back a year later.
他們所做的就是停下來,然後六個月後或一年後回來。
And so that top of funnel feels pretty good.
所以漏斗頂部的感覺非常好。
Andrew Boone - Analyst
Andrew Boone - Analyst
So to follow up on that question, is there a way to think about cumulative users for Duolingo, right?
那麼,為了跟進這個問題,有沒有辦法考慮 Duolingo 的累積用戶,對吧?
If we think about the 2 billion people that are actively learning a language, how do we think about the number of learners that you guys have touched within that opportunity?
如果我們考慮一下正在積極學習語言的 20 億人,我們如何看待你們在這個機會中接觸到的學習者數量?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
It's a good question.
這是一個好問題。
That's not something we really track so I don't really know it off the top of my head.
這不是我們真正追蹤的東西,所以我真的不知道。
Yes, it's not something we really track.
是的,這不是我們真正追蹤的東西。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Bryan Smilek of JPMorgan.
摩根大通的布萊恩‧史邁萊克。
Bryan Smilek - Analyst
Bryan Smilek - Analyst
So results were quite strong across DAU growth acceleration, engagement at record highs and social media impression is almost doubling year-on-year.
因此,DAU 成長加速、參與度創歷史新高以及社群媒體印象幾乎比去年同期翻倍,結果相當強勁。
So can you just talk about the health of the product refresh cycle into the back half and just overall social media strategies as you comp stuff like Barbie from last year?
那麼,您能談談後半段產品更新周期的健康狀況以及去年的芭比娃娃等整體社群媒體策略嗎?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
I mean, product-wise, we're very excited about a lot of the stuff that we're about to either already testing or putting out.
我的意思是,就產品而言,我們對即將測試或推出的許多產品感到非常興奮。
There's a lot of new social features.
有很多新的社交功能。
I mean we talked about in our shareholder letter, we talked about the friends streak, which is basically a streak that you keep with your friends.
我的意思是,我們在股東信中談到了朋友連勝,這基本上是你與朋友保持的連勝。
So a regular streak is just a streak with Duolingo.
所以,常規的連勝只是 Duolingo 的連勝。
Now you and a friend, it's up to five friends, but you and a friend can have a streak and you both have to use the app every day.
現在你和一個朋友,最多有五個朋友,但是你和一個朋友可以有一個連勝,而且你們都必須每天使用該應用程式。
And if one of you doesn't do it, you lose your friends streak.
如果你們中的一個人不這樣做,你就會失去你的朋友關係。
So it gives you a really good incentive to not disappoint your friends.
所以它給了你一個很好的激勵,不要讓你的朋友失望。
So that's an example of a feature.
這就是一個功能的例子。
But there's a lot of great social features that are coming out.
但有很多很棒的社交功能正在出現。
We have a lot of monetization features.
我們有很多獲利功能。
We're also expanding a lot our teaching features.
我們也擴展了很多教學功能。
So I feel pretty good about that.
所以我對此感覺很好。
And because of that, we expect the growth to continue being strong.
正因為如此,我們預計成長將持續強勁。
As Matt said, we are lapping a very strong year.
正如馬特所說,我們正在經歷非常強勁的一年。
So we're expecting that for a while, our user growth is going to be about 50%, and that's kind of what we're looking at.
因此,我們預計在一段時間內,我們的用戶成長將達到 50% 左右,這就是我們所關注的。
And in terms of social media impressions, we measure our social media impressions in billions.
就社群媒體印象而言,我們以數十億為單位來衡量社群媒體印象。
And this, by the way, to remind you, this is organic.
順便提醒一下,這是有機的。
We're not paying for these impressions.
我們不會為這些展示次數付費。
So we're getting billions of social impressions and we expect that to continue.
因此,我們獲得了數十億的社交印象,我們預計這種情況會持續下去。
Bryan Smilek - Analyst
Bryan Smilek - Analyst
Awesome.
驚人的。
And then I guess just a follow-up on Max.
然後我想這只是麥克斯的後續行動。
Available to 15% of DAUs right now.
目前可供 15% 的 DAU 使用。
Could you just share some signals around monetization?
能否分享一些有關獲利的訊號?
When should we expect Max to show up in the P&L, understanding it's a multiyear endeavor?
我們應該期望 Max 何時出現在損益表中,因為我們知道這是一項多年的努力?
And I guess is there anything that could curb the pace of rollout as we enter the back half?
我想當我們進入後半部分時,有什麼可以遏制推出的速度嗎?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
So as you said, we've rolled out Max.
正如您所說,我們推出了 Max。
It's now in 27 countries, five courses and that's available that's about 15% of our DAUs.
目前,它已在 27 個國家/地區推出,提供五門課程,約占我們每日活躍用戶的 15%。
Our expectation is that we're going to continue rolling it out through the rest of the year.
我們的期望是,我們將在今年剩餘時間內繼續推出它。
And by the end of the year, more than the majority of our users will have access to it at least.
到今年年底,至少我們的大多數用戶都將能夠訪問它。
And the reason for that is because we feel good about it.
原因是我們對此感覺良好。
We're giving it to more and more users because we feel good about it.
我們將其提供給越來越多的用戶,因為我們對此感覺良好。
We're also not only rolling it out, we're going to be adding new features to it.
我們不僅要推出它,還要為其添加新功能。
The one that I'm most excited about is actual conversational practice with one of our characters, Lily.
我最興奮的是與我們的角色之一莉莉進行實際的對話練習。
If you don't know which one that is, that's the purple-haired girl that is not impressed at all about anything you do.
如果你不知道那是哪一個,那就是那個對你所做的一切都沒有印象的紫髮女孩。
So you're going to be able to talk to her.
這樣你就可以跟她說話了。
And it's a really awesome experience.
這真是一次很棒的經驗。
So our sense is that our users are going to love it.
所以我們的感覺是我們的用戶會喜歡它。
Of course, hard to know exactly without a feature that we haven't really put out, but we're very excited about it.
當然,如果沒有我們尚未真正推出的功能,很難確切地知道,但我們對此感到非常興奮。
And to reiterate what you said also is we are still iterating on Super Duolingo, which is something that we put out probably 7 years ago.
重申你所說的,我們仍在迭代 Super Duolingo,這可能是我們 7 年前推出的。
So we're going to be iterating on Max for many years.
因此,我們將在 Max 上迭代很多年。
It's just by the end of the year, it will be at least mostly rolled out.
到今年年底,至少大部分都會推出。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Ralph Schackart at William Blair.
威廉布萊爾的拉爾夫沙卡特。
Ralph Schackart - Analyst
Ralph Schackart - Analyst
Luis, just curious on the Max product.
Luis,只是對 Max 產品感到好奇。
As you think about that opportunity there, sort of an innovation platform, is that sort of an opportunity for you to develop and test new products and eventually sort of, I guess, see if those could roll out to some of the lower tiers over time?
當你想到那裡的機會時,一種創新平台,是一種讓你開發和測試新產品的機會,我想,最終看看這些產品是否可以隨著時間的推移推廣到一些較低的層次?
So the first question.
所以第一個問題。
And second question, I know you get this question from time to time so I guess I'll ask it.
第二個問題,我知道你時不時會被問到這個問題,所以我想我會問這個問題。
But often, you're asked what percent of your paying subs do you see as sort of an opportunity.
但經常有人問你,你認為有多少付費訂閱者認為這是一個機會。
I think maybe last time you were asked that, maybe I'm wrong, is pre-Max or maybe before Max with scale.
我想也許上次你被問到,也許我錯了,是在 Max 之前,或者可能是在有規模的 Max 之前。
But now that you have Max sort of in the fold, just kind of curious if you can sort of give us an update on that as well.
但現在 Max 已經加入了,我很好奇你能否給我們最新情況。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Okay.
好的。
So your first question is about if Max is a testing ground for features that maybe we can then put in different tiers.
所以你的第一個問題是 Max 是否是一個功能測試場,然後我們可以將這些功能放入不同的層級。
That's for sure true.
這肯定是真的。
Basically, the way we're seeing is we are committed to the three-tier strategy.
基本上,我們看到的是我們致力於三層戰略。
We have free, we have Super, we have Max.
我們有free,我們有Super,我們有Max。
And we're going to see where the features belong.
我們將看看這些功能屬於哪裡。
Right now, a lot of the AI-based features are in Max because it costs us money to serve those so they're in the highest tier.
目前,許多基於人工智慧的功能都在 Max 中,因為服務這些功能需要花費我們的錢,所以它們處於最高層。
Over time, we expect that the price of some of those AI features will come down, at least for the cost of them for us, will come down because we're expecting that the price sorry, the cost of LLMs is going down.
隨著時間的推移,我們預計其中一些人工智慧功能的價格將會下降,至少對我們來說,它們的成本將會下降,因為我們預計法學碩士的價格會下降。
At that time, we may make a decision that some of those features belong in Super or even the free tier.
那時,我們可能會決定其中一些功能屬於超級甚至免費套餐。
But it's hard to say exactly what will happen.
但很難確切地說會發生什麼事。
My sense is that if you look at it over time, what's going to be happening is that the heaviest features on AI, the ones that use most calls to a large language model will probably remain in Max, and then anything that we can either cache or just doesn't require that many calls, we'll put in lower tiers.
我的感覺是,如果你隨著時間的推移觀察它,將會發生的事情是,人工智慧上最重要的功能,那些對大型語言模型使用最多的呼叫的功能可能會保留在Max 中,然後我們可以緩存的任何內容或只是不需要那麼多調用,我們將放入較低的層。
That's probably what's going to happen.
這可能就是將會發生的事情。
Now in terms of penetration, I think your question is just how high can penetration get either for Max or for paying either for Max or kind of any paying subscriber like either Super or Max.
現在就滲透率而言,我認為您的問題是 Max 或為 Max 或任何付費訂戶(如 Super 或 Max)付費的滲透率能達到多高。
We don't know.
我們不知道。
I mean we in terms of penetration, overall, paying subscribers were the latest number were above 8%.
我的意思是,就滲透率而言,總體而言,付費用戶的最新數字超過了 8%。
We seem to be increasing about 1 percentage point every year.
我們似乎每年增加約 1 個百分點。
That's what's happened historically.
這就是歷史上發生的事情。
We expect that to continue happening but I don't know the exact numbers, and it's not clear to us where it will end.
我們預計這種情況會繼續發生,但我不知道確切的數字,我們也不清楚這種情況會在哪裡結束。
I mean I think it will be higher than what it is now.
我的意思是我認為它會比現在更高。
But I don't know if some people ask, is it 15%?
但不知道有沒有人問,是15%嗎?
Is it 30%?
是30%嗎?
We just don't know.
我們只是不知道。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Curt Nagle from BofA.
美國銀行的科特·內格爾。
Curtis Nagle - Analyst
Curtis Nagle - Analyst
First, maybe on the Family Plan, right, progressing nicely, up a bit since I think last time we spoke.
首先,也許是在家庭計劃方面,對吧,進展順利,比我上次談話以來有所進步。
You have a number of initiatives in the works to increase adoption.
您正在採取多項措施來提高採用率。
I guess just how fulsome are they now in terms of in the actual product?
我想他們現在在實際產品中有多豐富?
And where do you think we could see rates of total subs go by year-end?
您認為到年底我們會看到總訂閱者的比率會如何?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
We're just to remind people of Family Plan, so the Family Plan was something that we built a few years ago and didn't touch.
我們只是為了提醒人們家庭計劃,所以家庭計劃是我們幾年前製定的,沒有觸及。
We just built it, left it there, and it grew by itself, which was awesome.
我們只是建造了它,把它留在那裡,它自己成長,這太棒了。
Once we realized it was growing so much by itself, we put a team behind it.
當我們意識到它本身就能實現如此大的成長後,我們就派了一個團隊在背後支持它。
The team has been there not that long.
該團隊在那裡待的時間並不長。
It's a few months so they're kind of really getting their stride.
幾個月過去了,他們確實取得了進展。
But already, they've made a number of changes and we're starting we've started seeing more and more penetration of the Family Plan.
但他們已經做出了一些改變,我們開始看到家庭計畫越來越普及。
At this point, about 20% of our paying subscribers are paying for the Family Plan.
目前,大約 20% 的付費用戶正在為家庭計畫付費。
And we expect that number to continue growing.
我們預計這個數字將持續成長。
Some people are going to ask us a similar question on the previous question, which is how high can that get?
有些人會問我們一個與上一個問題類似的問題,就是能達到多高?
Again, same answer.
再次,同樣的答案。
I don't know how high it can get.
我不知道它能達到多高。
But we do expect it to get higher than 20%.
但我們確實預計它會高於 20%。
And it's because we're just adding a lot more features.
這是因為我們只是添加了更多功能。
For example, things where families can engage with each other a lot more.
例如,家庭可以更多互動的事情。
And not only are we adding features, we're also making the Family Plan a lot more well known among our subscribers.
我們不僅增加了功能,還讓家庭計劃在我們的訂戶中更加廣為人知。
Many of them don't even know that there's a Family Plan.
他們中的許多人甚至不知道有家庭計劃。
So we're just putting it in front of the right people more often.
所以我們只是更頻繁地把它呈現在對的人面前。
And so what I can say is that by the end of the year, we expect the number the fraction of subscribers to be on the Family Plan to be higher than what it is now, but I just don't know how much higher.
所以我可以說的是,到今年年底,我們預計家庭計畫的訂戶比例將高於現在,但我只是不知道高出多少。
Curtis Nagle - Analyst
Curtis Nagle - Analyst
Makes sense.
有道理。
And then just going back to some of the points on top of funnel in terms of existing or last, however you want to define it, users coming back, what do conversion rates look like in terms of paying users for those users?
然後回到漏斗頂部的一些點,無論你想如何定義它,用戶回來,就這些用戶的付費用戶而言,轉換率是什麼樣的?
Is it higher than average?
是否高於平均?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
I think Matt knows that one better than me.
我認為馬特比我更了解這一點。
Matthew Skaruppa - Chief Financial Officer
Matthew Skaruppa - Chief Financial Officer
Yes.
是的。
When it comes to the actual kind of free trial conversion rates, they convert relatively similarly, the new users and the returning users.
當談到實際的免費試用轉換率時,新用戶和回訪用戶的轉換率相對相似。
They start free trial slightly different at slightly different rates.
他們開始免費試用的價格略有不同。
And so we actually see a nice opportunity to continue to drive those rates higher for both types of users over time.
因此,我們實際上看到了一個很好的機會,可以隨著時間的推移繼續提高這兩類用戶的費率。
So there's good opportunity there for both.
所以這對雙方來說都是很好的機會。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Just one last color.
只有最後一種顏色。
Historically, we've spent a lot more time optimizing new users than resurrected users, but we're starting to work more in resurrected users because it just makes sense to do that.
從歷史上看,我們花在優化新用戶的時間比優化復活用戶的時間要多得多,但我們開始在復活用戶上投入更多精力,因為這樣做是有意義的。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Alex Sklar of Raymond James.
雷蒙德詹姆斯的亞歷克斯克拉爾。
Alexander Sklar - Analyst
Alexander Sklar - Analyst
Luis or Matt, just following up on Bryan's earlier question on that new Max availability disclosure.
路易斯或馬特,只是跟進布萊恩之前關於新 Max 可用性披露的問題。
Can you talk about how that availability looks as a percentage of your existing paid subscriber base?
您能談談可用性佔您現有付費用戶群的百分比嗎?
And I'm curious if you're seeing any notable difference in terms of Max adoption from free users versus Max adoption from your Super base today.
我很好奇您是否發現免費用戶的最大採用率與今天的超級用戶的最大採用率之間存在任何顯著差異。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Matt, do you know?
馬特,你知道嗎?
I think it's pretty similar to paying subscribers.
我認為這與付費訂閱者非常相似。
I think it's pretty similar to DAUs, it's probably 15% in terms of availability.
我認為它與 DAU 非常相似,就可用性而言可能是 15%。
Matthew Skaruppa - Chief Financial Officer
Matthew Skaruppa - Chief Financial Officer
Yes.
是的。
I think definitely, it will over the next little bit, it will converge so they'll be close over the next couple of quarters, for sure.
我認為肯定會在接下來的一段時間內,它會收斂,因此它們肯定會在接下來的幾個季度內接近。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
And now in terms of we there's appetite for Max from both free users and also from current paying subscribers.
現在,就我們而言,免費用戶和當前付費訂閱者都對 Max 感興趣。
So we're working on both, putting the offers out for the free users but also cross-creating from the paying subscribers.
因此,我們正在這兩方面努力,為免費用戶提供優惠,同時也從付費訂閱者那裡進行交叉創作。
And we're seeing uptake from both.
我們看到兩者都得到了採用。
Alexander Sklar - Analyst
Alexander Sklar - Analyst
Okay.
好的。
I appreciate that color.
我很欣賞那種顏色。
And then, Matt, maybe just one follow-up for you.
然後,馬特,也許只是你一個後續的行動。
The subscription bookings continue to trend really nicely and now making up a bigger piece of total bookings.
訂閱預訂持續保持良好趨勢,目前在總預訂中所佔比例更大。
So I was just curious on the non-subscription bookings, so the other three buckets.
所以我只是對非訂閱預訂感到好奇,所以其他三個桶子也是如此。
Can you just comment on what you saw trends in the bookings there and anything to flag for the outlook?
您能否簡單評論一下您所看到的預訂趨勢以及對前景的展望?
Matthew Skaruppa - Chief Financial Officer
Matthew Skaruppa - Chief Financial Officer
Yes.
是的。
No, you're absolutely right to start with the fact that we are a subscription business, and you're going to continue to see our subscription business grow faster than the other lines.
不,您一開始就絕對正確,我們是一家訂閱業務,並且您將繼續看到我們的訂閱業務比其他業務增長得更快。
And so over time, we just the trends you just identified will continue.
因此,隨著時間的推移,我們剛剛確定的趨勢將繼續下去。
And that's by design.
這是設計使然。
We think that the subscription product is a better user experience and it's a better economic vehicle for us.
我們認為訂閱產品是更好的使用者體驗,對我們來說也是更好的經濟工具。
So I think you'll expect those trends to continue.
所以我認為你會期望這些趨勢會持續下去。
Each of the other lines of business makes up less than 10% of revenue.
其他各業務線所佔收入均不到 10%。
So ads is 8%, IAP is 6%, DET is 6%, something like this.
所以廣告是 8%,IAP 是 6%,DET 是 6%,類似這樣。
So they have trends in them.
所以他們有趨勢。
Ads, for example, has grown a little slower so far this year, so as IAP.
例如,今年到目前為止,廣告和應用程式內購買的成長速度略有放緩。
Both of those have been, we don't have a ton of resources working to grow those.
兩者都是,我們沒有大量的資源來發展它們。
I think in the back half of the year, we'll probably devote a little bit more resources to both ads and IAP so they might grow a little bit faster but still slower than subscriptions.
我認為在今年下半年,我們可能會在廣告和應用程式內購買上投入更多的資源,這樣它們的成長可能會快一點,但仍然比訂閱慢。
DET, as you know, is our testing product.
如您所知,DET 是我們的測試產品。
That business has been growing nicely.
該業務一直發展良好。
I think in the back half of the year, we expect it to grow a little bit slower than it did last year because there's kind of an industry-wide Visa issue going on, which has slowed down some of the test-taking growth.
我認為在今年下半年,我們預計它的成長速度會比去年慢一些,因為整個產業都存在簽證問題,這減緩了一些考試成長。
But again, all of these movements are pretty small and on the margin.
但同樣,所有這些變動都非常小,而且處於邊緣狀態。
Again, we're going to be focused on driving subscription growth higher.
同樣,我們將專注於推動訂閱量的成長。
And like you said, it's been growing really nicely.
正如你所說,它的成長非常好。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Shweta Khajuria at Wolfe Research.
沃爾夫研究中心的Shweta Khajuria。
I just wanted to ask about the resilience in softening macro environment.
我只是想問一下宏觀環境疲軟的韌性。
You have the subscription piece, you have the advertising piece, but just remind us what you've seen in the past as perhaps maybe there's increasing concern on consumer spend and just the macro environment right now.
你有訂閱部分,你有廣告部分,但請提醒我們你過去所看到的,因為也許人們對消費者支出和現在的宏觀環境越來越關注。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes, that's a good question.
是的,這是一個好問題。
I mean we're seeing what you're seeing in terms of the external world.
我的意思是,我們所看到的就是你所看到的外在世界。
There's a lot of uncertainty in the external world.
外部世界存在著許多不確定性。
When we look at our numbers, we're not seeing anything.
當我們查看數字時,我們什麼也看不到。
I mean there's our consumers don't seem to be reacting to anything.
我的意思是我們的消費者似乎對任何事情都沒有反應。
There's nothing worrying.
沒什麼好擔心的。
In the past, we've had similar situations where there's uncertainty in the world.
過去,我們也曾經遇到類似的情況,世界上存在不確定性。
And when we look at our consumers, we just can't see anything.
當我們觀察消費者時,我們什麼也看不見。
And we don't really know why that is.
我們真的不知道為什麼會這樣。
I'm not going to say that we are recession-proof.
我不會說我們能夠抵禦經濟衰退。
We just don't know because we've never really gone through a recession.
我們只是不知道,因為我們從未真正經歷過經濟衰退。
But what I will say is that because we have such a good free tier, what's happening is that people who for whom $6 a month is a lot of money, they're just not paying us because they're just using the free tier.
但我要說的是,因為我們有如此好的免費套餐,所以對於那些每月 6 美元來說是很多錢的人來說,他們只是不付錢給我們,因為他們只是使用免費套餐。
So whenever there's like recession and the consumer is maybe cutting down, et cetera, we just don't see it very much because the people who are paying us, for them, $6 a month is usually just not a lot.
因此,每當出現經濟衰退、消費者可能會削減開支等情況時,我們都看不到這種情況,因為每月向我們支付 6 美元的人通常並不多。
So we just haven't seen anything like that.
所以我們只是還沒看到這樣的事情。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Ryan MacDonald at Needham.
瑞恩·麥克唐納在尼達姆。
Ryan MacDonald - Analyst
Ryan MacDonald - Analyst
Congrats on a nice quarter.
恭喜您度過了一個美好的季度。
Luis, I wanted to talk about in the shareholder letter, the international efforts.
路易斯,我想在股東信中談論國際努力。
And you mentioned the marketing efforts you've made in Japan as sort of the and the impressive returns you've been generating from those investments and sort of that being a playbook for international expansion.
您提到您在日本所做的行銷努力,以及您從這些投資中獲得的令人印象深刻的回報,以及作為國際擴張的劇本。
Can you just, one, remind us when you started investing in Japan to sort of give us a sense of what the payback period on those returns?
您能否提醒我們何時開始在日本投資,以便讓我們了解這些回報的投資回收期是多少?
And two, how quickly do you expect to start replicating that playbook in Japan into the other, I think it was about 20 targeted countries or languages for that advanced English learner?
第二,您希望多快開始將日本的劇本複製到另一個國家,我認為是針對高級英語學習者的大約 20 個目標國家或語言?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
So what we mentioned in the shareholder letter is that we now have a playbook for international market that we feel pretty good about in terms of penetrating new markets.
所以我們在股東信中提到的是,我們現在有一個針對國際市場的劇本,在滲透新市場方面我們感覺非常好。
And Japan was an example.
日本就是一個例子。
We've actually done that playbook in a number of other markets and it's worked very well.
實際上,我們已經在許多其他市場上完成了該策略,並且效果非常好。
I mean these are markets like Germany and France, where the idea, and it's a pretty similar playbook.
我的意思是像德國和法國這樣的市場,他們的想法和劇本非常相似。
The idea is you start at the beginning with a little bit of performance marketing to kickstart a little more growth than what was there before.
這個想法是,你從一開始就進行一些績效行銷,以啟動比以前更多的成長。
Then you usually hire one or maybe more than one country marketing manager that starts making our usual social content but adapted to that country.
然後,您通常會聘請一名或多名國家行銷經理,開始製作我們常用的社交內容,但要適應該國家/地區。
And then we start a TikTok account and an Instagram account, et cetera, adapted to that country.
然後我們開設一個適合該國家的 TikTok 帳戶和 Instagram 帳戶等等。
And it has worked every single time.
而且每次都有效。
Basically, if you look at our TikTok accounts across all the different countries, they're all very popular.
基本上,如果你查看我們在所有不同國家/地區的 TikTok 帳戶,你會發現它們都非常受歡迎。
The Japan one is popular, the France one is popular, the Germany one is popular, all the different ones, the Brazil one is popular.
日本的流行,法國的流行,德國的流行,所有不同的,巴西的流行。
And this works pretty well.
這效果非常好。
It takes to give you context, it takes about a year to get our act together in a country.
這需要給你提供背景信息,我們需要大約一年的時間才能在一個國家採取一致行動。
Japan, we probably start investing more heavily probably about 2.5 years ago, give or take.
日本,我們可能在大約 2.5 年前開始加大投資,無論給予或接受。
But we've been seeing returns in Japan for a little while now.
但我們在日本看到回報已經有一段時間了。
So my sense is for a given country, it takes us about a year to get our act together.
所以我的感覺是,對於一個特定的國家,我們需要大約一年的時間才能採取行動。
Ryan MacDonald - Analyst
Ryan MacDonald - Analyst
That's helpful.
這很有幫助。
And then as maybe as a follow-up to that, as you think about sort of the targeted sort of 20 countries or languages for the advanced English learner content and trying to get bring those learners onto the platform, maybe how many of those countries today do you feel like you start to get your act together, so to speak, and just to give us a sense of where you are on that progression of that investment.
然後,也許作為後續行動,當你考慮高級英語學習者內容的目標 20 個國家或語言,並試圖將這些學習者帶入平台時,也許今天有多少個國家您是否覺得您開始採取行動,可以這麼說,只是為了讓我們了解您在投資進展方面的進展。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
So just to clarify something so we have 20 English courses.
為了澄清一些事情,我們有 20 門英語課程。
What that means is that we have 20 different base languages from which you can learn English.
這意味著我們有 20 種不同的基礎語言可供您學習英語。
So base language could be Spanish, Spanish speakers learning English.
所以基礎語言可以是西班牙語,說西班牙語的人學習英語。
Another one is Chinese, Chinese speakers are learning English, et cetera.
另一種是中文,講中文的人正在學習英文等等。
So it's not exactly countries because, for example, Spanish covers Spain and all of Latin America, except for Brazil.
因此,這並不完全是國家/地區,因為例如,西班牙語涵蓋了西班牙和除巴西之外的整個拉丁美洲。
So these courses are based on the language that people are speaking, and we have 20 of those.
所以這些課程是基於人們所使用的語言的,我們有 20 門這樣的課程。
And in addition to those 20, we have another course, which is monolingual.
除了這 20 門課程之外,我們還有另一個單語課程。
That means learning English from English.
這意味著從英語中學習英語。
That's to cover all other countries or the ones that don't speak these 20 languages.
這涵蓋了所有其他國家或不講這 20 種語言的國家。
And so basically, with this, I think we'll be able to cover pretty much the whole world and we'll be able to penetrate them.
基本上,有了這個,我認為我們將能夠覆蓋幾乎整個世界,並且我們將能夠滲透它們。
Now in terms of the different geographies, there's a number of them that we're just much less penetrated in that than we're currently.
現在就不同的地區而言,我們對其中許多地區的滲透程度比目前要低得多。
I mean, typically, we're pretty highly penetrated in the US, maybe even Western Europe.
我的意思是,通常我們在美國,甚至西歐的滲透率相當高。
But then outside of that, we're just at the beginning stages.
但除此之外,我們還處於起步階段。
This includes countries in Asia.
這包括亞洲國家。
Even Japan, we're just not all that penetrated in Japan, Korea, et cetera.
即使是日本,我們也沒有完全滲透到日本、韓國等國。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Arvind Ramnani at Piper Sandler.
派珀·桑德勒 (Piper Sandler) 的阿溫德·拉姆納尼 (Arvind Ramnani)。
Arvind Ramnani - Analyst
Arvind Ramnani - Analyst
Yes.
是的。
I guess just a couple of quick questions.
我想只是幾個簡單的問題。
In terms of the stat that you shared, 20% of your users have been using they're at 365-day streak...
根據您分享的統計數據,20% 的用戶已經連續 365 天使用...
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Or longer.
或更長。
Arvind Ramnani - Analyst
Arvind Ramnani - Analyst
So when we look at it, can you provide some historical context?
那麼當我們看它的時候,你能提供一些歷史背景嗎?
How has that moved up or like what should we look at that?
情況如何?
And I mean what do we make out of that number?
我的意思是我們能從這個數字中得到什麼?
I mean it's a nice interesting stat.
我的意思是,這是一個非常有趣的統計數據。
You chose to put it on Page 1.
您選擇將其放在第 1 頁。
Can you just share like what gets you excited from a historical perspective?
能從歷史的角度分享一下讓您興奮的事嗎?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes, it's a very exciting step for us because just to put it in perspective, that means 20%, that's like it's about 7 million daily active users have a streak longer than 365, meaning they have used Duolingo every single day for a year or longer.
是的,這對我們來說是非常令人興奮的一步,因為從長遠來看,這意味著20%,也就是說大約有700 萬每日活躍用戶的連續時間超過365,這意味著他們一年或一年內每天使用Duolingo更長。
That we find that, that's pretty impressive.
我們發現這一點,真是令人印象深刻。
I mean there's 7 million of these people that have kind of not missed a year a day for at least a year or longer.
我的意思是,其中有 700 萬人至少在一年或更長時間內沒有錯過任何一天。
That number keeps growing and it's growing pretty fast.
這個數字一直在成長,而且成長得相當快。
I mean I think we put out a similar number, the same stat maybe 1.5 years ago or so, and it was like 3 million back then.
我的意思是,我認為我們在 1.5 年前左右發布了類似的數字,相同的統計數據,當時大約是 300 萬。
So that number just keeps going up pretty fast and it's because that just gives you an idea of how sticky the product is.
所以這個數字一直在快速成長,因為這讓你知道產品的黏性有多大。
Arvind Ramnani - Analyst
Arvind Ramnani - Analyst
Yes.
是的。
And I guess, can you share not necessarily a specific number here but like these people are sticky.
我想,你能否在這裡分享不一定是具體數字,但就像這些人很黏一樣。
Do they end up having a disproportionate number of paid users or unpaid users when compared to the other 80%?
與其他 80% 的用戶相比,他們最終擁有的付費用戶或非付費用戶數量是否不成比例?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
I mean, in general, the more you use Duolingo, the more likely you are to subscribe.
我的意思是,一般來說,您使用 Duolingo 的次數越多,您訂閱的可能性就越大。
And that's, of course, not true for everybody.
當然,這並不適合所有人。
But in general, if you have a long streak, it is more likely that you're a subscriber.
但一般來說,如果您連續訂閱的時間較長,那麼您更有可能成為訂閱者。
And that makes sense.
這是有道理的。
It's just you get more use out of it and at some point, you want to either support us or turn off the ads or something like that.
只是您會更多地利用它,並且在某些時候,您想要支持我們或關閉廣告或類似的東西。
Arvind Ramnani - Analyst
Arvind Ramnani - Analyst
Okay, perfect.
好的,完美。
And then just one last question.
最後一個問題。
I mean certainly very impressive metrics through the print.
我的意思是透過印刷品得出的指標肯定非常令人印象深刻。
And you raised guidance for the year, I get it.
你提出了今年的指導,我明白了。
But it feels like a lot of the guide was raised in line with the 2Q performance.
但感覺很多指南都是根據第二季的表現而提升的。
So I mean, just given the momentum, like should we look at this kind of raised guidance as like a little bit conservative or how should we look at it?
所以我的意思是,鑑於勢頭,我們是否應該將這種提高的指導視為有點保守,或者我們應該如何看待它?
Because it feels like there's really good momentum in the business.
因為感覺業務發展動能非常好。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes, there is good momentum in the business and we feel good about it.
是的,業務發展勢頭良好,我們對此感覺良好。
But I just have to remind you in terms of what good momentum looks like, we're guiding this year to more than 30% growth in bookings, but we're lapping a year that had 45% growth in bookings, which in turn was lapping another year that had 45% growth in bookings.
但我必須提醒您,良好的勢頭是什麼樣子的,我們預計今年的預訂量增長超過 30%,但我們正在經歷預訂量增長 45% 的一年,這反過來又是又一年預訂量增長了45%。
So we're just it's just growing really fast.
所以我們只是成長得非常快。
And so that's, that.
就是這樣。
We feel pretty strong about that.
我們對此感覺非常強烈。
Now because we're lapping such a strong year, in particular, H2 of last year was quite strong so we put out the guidance that we saw and we slightly raised it but we feel good about it.
現在,因為我們經歷瞭如此強勁的一年,特別是去年下半年相當強勁,所以我們提出了我們看到的指導,並稍微提高了它,但我們對此感覺良好。
Arvind Ramnani - Analyst
Arvind Ramnani - Analyst
Yes.
是的。
Then just last question.
然後就是最後一個問題。
I mean it feels like your DAU growth is again back to sort of defying gravity, right?
我的意思是,感覺您的 DAU 增長又回到了某種反重力的狀態,對嗎?
Like it's just back to this like kind of acceleration.
就好像它又回到了這個加速狀態。
And like in the past couple of quarters, you've late last year, you were talking a little bit conservatively but you're back to this like acceleration in DAU growth.
就像過去幾季一樣,去年年底,您的言論有點保守,但現在又回到了 DAU 成長加速的問題。
And like how sustainable is this, right?
這有多可持續,對吧?
Is this like 55%, 60% is like a number we should get kind of comfortable with over the next couple of years?
55%、60% 是不是一個我們在未來幾年應該感到滿意的數字?
I mean it just feels like it's constantly defying gravity.
我的意思是,它感覺就像在不斷地反抗重力。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes, we feel good about our DAU growth.
是的,我們對 DAU 的成長感到滿意。
I will say, in Matt's prepared remarks, our belief is that this is going to, for a while, stay at around 50%, not quite 60%, but it's for a while.
我想說的是,在馬特準備好的演講中,我們相信這一比例將在一段時間內保持在 50% 左右,而不是完全 60%,但這只是一段時間。
So that's our belief and which is exponential growth, 50% year-over-year, and that's kind of how we think it's going to be.
這就是我們的信念,並且呈指數級增長,同比增長 50%,這就是我們的想法。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Aaron Kessler at Seaport.
亞倫·凱斯勒在海港。
Aaron Kessler - Analyst
Aaron Kessler - Analyst
Maybe just on other verticals adoption.
也許只是在其他垂直領域的採用。
I don't think you talked much about that.
我認為你對此談得不多。
Anything to highlight on some of the other verticals, math, et cetera?
在其他一些垂直領域、數學等方面有什麼值得強調的嗎?
And then I think there's still a little bit of concern in the market just around potentially AI replacing maybe the necessity to learn a foreign language.
然後我認為市場上仍然存在一些關於人工智慧可能取代學習外語的必要性的擔憂。
Just it would be good to get your thoughts on that, Luis, just maybe your thoughts on potential AI, I guess, replacement, the need for foreign language learning longer term.
路易斯,如果能聽聽你對此的想法就好了,也許你對潛在的人工智慧的想法,我想,替代品,以及長期外語學習的需要。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Sure.
當然。
Okay.
好的。
So first question was about other verticals, in particular, you can now learn Math and music on Duolingo.
第一個問題是關於其他垂直領域,特別是,你現在可以在 Duolingo 上學習數學和音樂。
We feel very good about the growth.
我們對成長感到非常滿意。
They're still small compared to languages and they're going to be small for a little while.
與語言相比,它們仍然很小,而且還會持續一段時間。
They're only on iOS.
它們僅適用於 iOS。
We're about to put them on Android in the next couple of months.
我們將在接下來的幾個月內將它們推出 Android 版本。
You're going to see them on Android and that will make them grow more.
您將在 Android 上看到它們,這將使它們成長更多。
But we feel pretty good about the growth.
但我們對成長感到非常滿意。
In terms of what we're working on each one of them, in both cases, really, we're working on adding a lot more content.
就我們正在做的每一項工作而言,在這兩種情況下,實際上,我們正在努力添加更多內容。
With Math, we probably have an order of magnitude less content than we would have for like French or Spanish.
對於數學,我們的內容可能比法語或西班牙語等內容少一個數量級。
So we just need to add more content.
所以我們只需要添加更多內容。
And same with Music.
音樂也是如此。
And so we're working on adding more content and also on making them more engaging.
因此,我們正在努力添加更多內容並使其更具吸引力。
And I feel pretty good about the results of that.
我對此結果感覺非常好。
In terms of AI, this is not people say this but this is not something we're particularly worried about for a number of reasons.
就人工智慧而言,這不是人們所說的,但由於多種原因,這並不是我們特別擔心的事情。
For one, language translation and also automatic immediate voice-to-voice language translation has been really good for like 10 years.
其一,語言翻譯和自動即時語音到語音語言翻譯已經發展了近 10 年。
I mean, Google Translate.
我的意思是,Google翻譯。
The app is on my phone, has been there for a while, and it's been really good.
該應用程式在我的手機上,已經存在了一段時間,而且非常好。
The main use for that, and it works really well, is if you kind of don't really care about learning any French and you go to France and you find somebody who doesn't speak English, you can use the app and you can communicate really well, but that has been true for like 10 years.
其主要用途(而且效果非常好)是,如果您不太關心學習任何法語,並且您去了法國,發現有人不會說英語,您可以使用該應用程序,並且可以溝通確實很好,但這種情況已經持續了近10 年。
It turns out most of our users are not that user.
事實證明,我們的大多數用戶都不是那個用戶。
Most of our users are either people who are hobbyists because they're like just they find that they're interested in Swedish or whatever.
我們的大多數用戶要么是業餘愛好者,因為他們發現自己對瑞典語或其他什麼感興趣。
And we just don't think that AI is going to replace that.
我們只是不認為人工智慧會取代它。
Similarly to people are learning just, and AI has been good at just for 20 years.
就像人只是在學習一樣,人工智慧已經擅長了20年。
So hobbyists is one big group.
所以愛好者是一大群。
And then the other big group is people who actually want to learn the language for either work purpose or these aren't particularly English learners.
另一大群體是那些實際上出於工作目的而想要學習語言的人,或者這些人並不是專門學習英語的人。
That's also not a you're not going to go work at a company in English and have to carry your phone or have to use some sort of headphone device.
這也不是說你不會去一家英語公司工作,並且必須攜帶手機或必須使用某種耳機設備。
So it's just not something we're particularly worried about, and we just haven't seen that be any kind of problem for our users.
所以這不是我們特別擔心的事情,我們只是沒有看到這對我們的用戶有任何問題。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Eric Sheridan at Goldman Sachs.
高盛的艾瑞克·謝裡丹。
Eric Sheridan - Analyst
Eric Sheridan - Analyst
Maybe I can follow up on that point.
也許我可以跟進這一點。
Would love to go a little bit deeper on how you're thinking about an incremental dollar invested in content and how the return on that content investment can continue to drive longer and longer engagement sessions with folks and continue to extend some of The Street dynamics that you've called out and sort of maybe just tease out a little bit of how you think about return on that spend or duration of potential for that spend in the broader portfolio.
我很想更深入地了解您如何考慮在內容上投入增量資金,以及內容投資的回報如何繼續推動與人們的互動時間越來越長,並繼續擴展一些華爾街動態您已經提出並可能只是梳理了一些您如何看待該支出的回報或該支出在更廣泛的投資組合中的潛力持續時間。
That would be number one.
那將是第一。
And then number two, I know I always ask Matt this, but just incremental margins, updated view, continues to be an area where you're surprising more of the upside as the business continues to grow and mature.
第二,我知道我總是問馬特這個問題,但隨著業務的不斷增長和成熟,增量利潤、更新的視圖仍然是一個令人驚訝的更多好處的領域。
But just updated views on incremental margins and investing back in the business versus letting some of that incremental margin fall to the bottom line.
但只是更新了對增量利潤和投資回業務的看法,而不是讓部分增量利潤落入底線。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
I can take the first part, Matt, with the content.
馬特,我可以接受第一部分的內容。
I mean, generally, we've been adding content to the app ever since we launched the app 12 years ago or whatever.
我的意思是,一般來說,自從 12 年前推出應用程式以來,我們就一直在為應用程式添加內容。
Over the last 1.5 years, we've seen an amazing acceleration in terms of the speed of content that we can add.
在過去 1.5 年裡,我們添加內容的速度有了驚人的提升。
A lot of it has to do with AI, not entirely.
其中很大一部分與人工智慧有關,但並非完全如此。
Some of it is just better processes from ourselves.
其中一些只是我們自己更好的流程。
But a lot of it has to do with AI and we're really excited about that.
但其中許多都與人工智慧有關,我們對此感到非常興奮。
And it's not just that it's cheaper to add the content.
這不僅僅是因為添加內容更便宜。
That's interesting and that's good.
這很有趣,也很好。
It helps our margins and I'm sure Matt loves that.
它有助於提高我們的利潤,我確信馬特喜歡這一點。
But what I'm more excited about is that nowadays, we can create certain pieces of content so fast that these are things that just we couldn't do before.
但更讓我興奮的是,現在我們可以如此快速地創建某些內容,這是我們以前無法做到的。
A good example is a few years ago, a feature was proposed to me that it was a feature where you could like listen to these kind of podcast-type episodes inside the app.
一個很好的例子是幾年前,有人向我提出了一個功能,您可以在應用程式內收聽此類播客類型的劇集。
And I was told that it was going to take 5 years to create the content for this.
我被告知為此創建內容需要 5 年。
And I immediately shut down that feature.
我立即關閉了該功能。
I said no, no, no, we're not going to make that.
我說不,不,不,我們不會這麼做。
I don't want to spend 5 years creating content for anything.
我不想花 5 年來創作任何內容。
Today, we ended up building a pretty similar feature, and it turns out we can create all of that content in a matter of months.
今天,我們最終建立了一個非常相似的功能,事實證明我們可以在幾個月內創建所有這些內容。
And because we can create all that content in a matter of months, I greenlit that feature because I'm like, yes, sure, why not?
因為我們可以在幾個月內創建所有這些內容,所以我批准了該功能,因為我想,是的,當然,為什麼不呢?
I spend a couple of months doing the content and do that.
我花了幾個月的時間來製作內容並做到這一點。
So I'm very excited about the fact that this just allows us to create a lot more engaging content.
因此,我感到非常興奮,因為這使我們能夠創建更多引人入勝的內容。
And things that before, it's not that they were impossible to create but they were prohibitive to the point where I was just not allowing it.
以前的事情,並不是說它們不可能創造,而是它們令人望而卻步,以至於我不允許它發生。
So that's one of the main things that we're excited about with content.
這是我們對內容感到興奮的主要事情之一。
Matthew Skaruppa - Chief Financial Officer
Matthew Skaruppa - Chief Financial Officer
Yes.
是的。
And then on the incremental margin point, Eric, again, we are definitely proud of the fact that when we in 2022, our adjusted EBITDA margin was 4 points and now we're guiding at the full year to 24.5% so 20 extra points in 2 years of margin is great and it requires higher incremental margins.
然後,關於增量利潤點,埃里克,我們再次感到自豪的是,當我們在2022 年時,我們調整後的EBITDA 利潤率為4 個點,現在我們的全年目標為24.5%,因此在2022 年額外增加了20 個點。
A minor point on Q2.
第二季的一個小問題。
We had about a 52% incremental margin.
我們的利潤增量約為 52%。
If you were to adjust for the time shift that I mentioned in my prepared remarks, it's probably 45% incremental margin, so lower.
如果您要根據我在準備好的發言中提到的時間轉移進行調整,則增量裕度可能為 45%,因此更低。
Still higher than our long-term target.
仍高於我們的長期目標。
If you look at the full year guide, obviously, we're projecting the incremental margins to trend down a little bit in the back half of the year.
如果您查看全年指南,顯然,我們預計增量利潤率將在今年下半年略有下降。
But your point notwithstanding, we think that we can do both.
但不管你的觀點如何,我們認為我們可以做到這兩點。
The business has scaled really nicely.
該業務的規模非常大。
It's got high gross margins.
它的毛利率很高。
So we can achieve our capital allocation strategy, which is, first and foremost, investing in R&D in the business to drive organic growth in that flywheel and drop a good portion down to the bottom line.
因此,我們可以實現我們的資本配置策略,即首先投資於業務研發,以推動飛輪的有機成長,並將很大一部分降至淨利潤。
So I don't see it changing in the near term or any updating of that long-term target, but we're happy with it.
因此,我認為短期內不會發生變化,也不會更新長期目標,但我們對此感到滿意。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Thanks, Eric.
謝謝,埃里克。
Our next questioner is Chris Kuntarich from UBS.
我們的下一個提問者是瑞銀集團的克里斯·昆塔里奇。
He cannot get on Zoom right now so he asked me to read his question.
他現在無法登入 Zoom,所以他要我讀他的問題。
Two-part question.
兩部分的問題。
First, housekeeping on the 50% DAU growth comment.
首先,管家對 DAU 成長 50% 的評論。
Was that previously low to mid-50s?
之前是50多歲左右嗎?
And his second question is, can you talk a bit about what you've accomplished over the last 12 months from a product monetization perspective as it relates to English learning opportunity and how we should think about your focus areas on the English learning opportunity over the next 12 months?
他的第二個問題是,您能否從產品貨幣化的角度談談您在過去12 個月中所取得的成就,因為這與英語學習機會有關,以及我們應該如何考慮您在過去12 個月中英語學習機會的重點領域。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Okay.
好的。
The first is a clarification.
首先是澄清。
I mean I think it's just what we are saying is this quarter, Q2, we saw 59% DAU growth year-over-year.
我的意思是,我認為這正是我們所說的,第二季度,我們的 DAU 年比增長了 59%。
What we're saying is that we expect that to be around 50% for a good period of time.
我們的意思是,我們預計在相當長的一段時間內該比例將保持在 50% 左右。
That's what we're saying that's a clarification.
這就是我們所說的澄清。
In terms of what we've done for English learners, some number of things.
就我們為英語學習者所做的事情而言,有很多事情。
I mean the first thing is we've added more advanced content.
我的意思是,第一件事是我們添加了更多高級內容。
That content, it took us a while to add it.
這個內容,我們花了一段時間才加入的。
But at this point, the content is there.
但此時,內容已經有了。
And so that's great.
這太好了。
We have intermediate to advanced content for English learners.
我們為英語學習者提供中級到高級的內容。
That was something that was needed in order to attack English learners.
這是攻擊英語學習者所需要的。
We've also worked on placing the English learners into the appropriate place in the course.
我們也致力於將英語學習者安排在課程中的適當位置。
So these are people who have prior proficiency.
所以這些人都是有先驗能力的人。
The thing about English learners is that most of them have some amount of prior proficiency.
對於英語學習者來說,他們中的大多數人都有一定程度的先前熟練程度。
And so we've worked on placing them to the right place.
因此,我們致力於將它們放置在正確的位置。
And then the next step is, once we're really happy with this, we're going to start marketing to let the world know that Duolingo is good for advanced English because most people just don't know that.
下一步是,一旦我們對此感到真正滿意,我們將開始行銷,讓世界知道 Duolingo 對於高級英語有好處,因為大多數人不知道這一點。
And once that's there, my sense is that we're going to be able to do a lot of things to monetize these users.
一旦實現,我的感覺是我們將能夠做很多事情來透過這些用戶獲利。
But the first thing is to get these users to come in, which they're not there yet.
但第一件事是讓這些用戶進來,但他們還沒有做到這一點。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Ross Sandler at Barclays.
巴克萊銀行的羅斯桑德勒。
Ross Sandler - Analyst
Ross Sandler - Analyst
Great.
偉大的。
I had a question to follow up on the like topic of AI, how you guys are using it in the app.
我有一個問題要跟進人工智慧的類似主題,你們如何在應用程式中使用它。
So Luis, the foundation models are getting much more performant, faster, and more multimodal.
Luis 表示,基礎模型的效能越來越高、速度越來越快、而且更加多模式化。
So how is that informing your product road map?
那麼,這如何影響您的產品路線圖呢?
And how do you see the interaction layer of your consumers engaging with either Lily or whatever you guys come up with down the road in a more multimodal context using these AI models?
您如何看待消費者與 Lily 或您使用這些人工智慧模型在更加多模式的環境中提出的任何東西進行互動的互動層?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes, we're very excited about AI in general.
是的,總的來說,我們對人工智慧感到非常興奮。
I mean the two big uses are creating content that is kind of premade and then it's served to the users.
我的意思是,兩個主要用途是創建預先製作的內容,然後將其提供給使用者。
That's kind of what I was talking about in the previous question, where we're able to create experiences like listening to a two-minute mini podcast in the language that you're learning.
這就是我在上一個問題中談論的內容,我們能夠創造體驗,例如用您正在學習的語言收聽兩分鐘的迷你播客。
All of that is a lot of it is created with AI and we're very excited with that.
所有這些大部分都是由人工智慧創建的,我們對此感到非常興奮。
And then the other big part is kind of live interaction, where you're going to be talking to a character, et cetera.
另一個重要部分是即時互動,你將與一個角色交談,等等。
We're going to be putting a lot into that.
我們將在這方面投入很多。
Certainly, the multimodal models are helping like GPT-4o because we're going to be doing voice-to-voice.
當然,像 GPT-4o 這樣的多模式模型會有所幫助,因為我們將進行語音到語音的處理。
And so that helps a lot.
這很有幫助。
And so we're really happy.
所以我們真的很高興。
I mean if you play around with this feature of practicing conversation with Lily, it's pretty magical, actually.
我的意思是,如果你嘗試練習與莉莉對話的這個功能,實際上它非常神奇。
The other amazing thing about it is she has a memory, she remembers.
另一個令人驚訝的事情是她有記憶力,她記得。
So whenever she calls you or you call her, she tells you, "Oh, it's you again."
所以每當她打電話給你或你打電話給她時,她都會告訴你:“哦,又是你。”
And then she may ask you about whatever it is that you were talking about last time.
然後她可能會問你上次談論的事情。
She'll make fun of you for having forgotten something.
她會因為你忘了什麼而取笑你。
So it's pretty magical, actually.
所以實際上它非常神奇。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Mark Mahaney at Evercore.
Evercore 的 Mark Mahaney。
Mark Mahaney - Analyst
Mark Mahaney - Analyst
Two questions.
兩個問題。
One, I love the Japan data point and I want to try to figure out is I think in the US, you have kind of high single-digit percent penetration of people who are learning languages and interested in learning languages.
一,我喜歡日本的數據點,我想弄清楚的是,我認為在美國,學習語言和對學習語言感興趣的人的滲透率很高,為個位數。
That's your own work.
那是你自己的工作。
Are there any international markets and maybe it's Japan that come anywhere close to that where you think that you've got penetration that's kind of high single digits or even double digits of the language potential language learners in that market?
是否有任何國際市場(也許是日本)與您認為的潛在語言學習者的滲透率接近,達到高個位數甚至兩位數?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
The US is a relatively highly penetrated country for us.
美國對我們來說是一個滲透率相對較高的國家。
There are others that are probably similar to the US My sense is Western Europe is close to the US Actually, the UK is about the same as the US But Western Europe is close to the US Japan is not there yet.
還有其他國家可能與美國相似 我的感覺是西歐接近美國 實際上英國與美國差不多 但是西歐接近美國 日本還沒有。
Japan is much less penetrated than the US And if you look at other Asian countries, I mean, for example, China is about one by ten/10 of the penetration as the US So generally US and Western Europe are the more penetrated markets.
日本的滲透率比美國低得多。高的市場。
Mark Mahaney - Analyst
Mark Mahaney - Analyst
Okay.
好的。
And then I want to follow up one more time.
然後我想再跟進一次。
I know both Eric and Ross asked you this question.
我知道艾瑞克和羅斯都問過你這個問題。
I'm really intrigued by the deployment of AI by content companies, by app companies, and investors in The Street are so focused on the derivatives in the chip sector and in the app sector I mean, sorry, the chip sector and the infrastructure sector but not in the app sector.
我對內容公司、應用程式公司對人工智慧的部署非常感興趣,華爾街的投資者如此關注晶片領域和應用程式領域的衍生品,我的意思是,對不起,晶片領域和基礎設施領域但在應用程式領域則不然。
And there are companies I mean, people so focused on how AI could disrupt Duolingo and there's not enough focus on how you're using AI and how you could use it in the future to create just dramatically more engaging content, like it's not like you haven't been involved with AI for a long period of time.
我的意思是,有些公司,人們如此關注人工智慧如何顛覆 Duolingo,而沒有足夠關注如何使用人工智慧以及未來如何使用它來創建更具吸引力的內容,就像它不像你一樣很久沒有接觸AI了。
So just talk about like when you think about how GenAI tools can really change Duolingo and make it just dramatically more engaging, like you peer through that looking glass, like how much visibility do you think you have and how much more, how much better the product could be over the next couple of years?
因此,只要談論一下,當您思考 GenAI 工具如何真正改變 Duolingo 並使其變得更具吸引力時,就像您透過鏡子觀察一樣,例如您認為自己擁有多少可見性以及更多、更好多少產品可能會在未來幾年推出?
Do you think like you've got a quarter visibility and then there's a whole bunch of new hallways that could open up?
你是否認為你已經有了四分之一的能見度,然後就會有一大堆新的走廊可以打開?
So just riff on that a little bit, Luis.
路易斯,請簡單重複一下。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
I'm generally extremely excited about what AI could do for us.
我對人工智慧能為我們做的事情感到非常興奮。
Of course, the easiest to see is conversational practice just because these are large language models.
當然,最容易看到的是會話練習,因為這些都是大型語言模型。
They're supposed to have the L is language there.
他們應該有 L 語言。
This is going to be really good for conversational practice.
這對於會話練習非常有好處。
And I really think that's actually going to be a lot more impactful than people think because you really are going to be able to practice with somebody that gets down to your level of the language, and you can and she has a memory.
我真的認為這實際上比人們想像的更有影響力,因為你真的能夠與一個達到你的語言水平的人一起練習,而且你可以,而且她有記憶力。
And the other really nice thing about that is it's much better than practicing with a human in that if you're practicing with a human, you're usually shy in the language that you're learning.
另一個真正好的事情是,它比與人一起練習要好得多,因為如果你與人一起練習,你通常會對你正在學習的語言感到害羞。
I mean if you've already learned the language, it's pretty hard unless you're an extreme extrovert.
我的意思是,如果你已經學會了這門語言,那就很難了,除非你是個極度外向的人。
It's pretty hard to get your few words out in front of another person.
在別人面前說幾句話是非常困難的。
But in front of an AI, you have no problem because you kind of don't care.
但在人工智慧面前,你沒有任何問題,因為你不在乎。
So we're very excited about that.
所以我們對此感到非常興奮。
But I think there's going to be many other things.
但我認為還會有很多其他事情。
Another thing that I'm pretty excited about is being able to explain Math concepts to you with diagrams.
另一件令我非常興奮的事情是能夠用圖表向您解釋數學概念。
Language models are not quite there yet but I think it's going to either with fine-tuning or some sort of specific training, I think, will be able to explain almost any Math concept to you with a clever diagram.
語言模型還沒有完全實現,但我認為它可以透過微調或某種特定的訓練,我認為,將能夠用巧妙的圖表向您解釋幾乎任何數學概念。
That's much better than reading two paragraphs of explanation.
這比閱讀兩段解釋好得多。
So I'm very excited about that.
所以我對此感到非常興奮。
I think we'll be able to teach Math significantly more effectively because of that.
我認為因此我們將能夠更有效地教授數學。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Wyatt Swanson at D.A. Davidson.
懷亞特·斯旺森 (Wyatt Swanson) 在 D.A.戴維森。
Wyatt Swanson - Analyst
Wyatt Swanson - Analyst
I had a question on resurrected users that you called out.
我有一個關於您提出的復活用戶的問題。
Could you talk a bit about how your initiatives have changed on driving users back to the platform?
您能否談談您在推動用戶回歸平台方面的舉措有何變化?
And could you maybe give some color as to how much engagement these resurrected users are driving?
您能否說明一下這些復活的用戶帶來了多少參與度?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Yes.
是的。
I mean, over time, we are shifting more and more work to people that we've seen before because there's just so many of them that lapse from Duolingo for 6 months and then come back.
我的意思是,隨著時間的推移,我們正在將越來越多的工作轉移給我們以前見過的人,因為他們中的許多人離開 Duolingo 6 個月然後又回來了。
So we're spending effort on that.
所以我們正在這方面花功夫。
And I think there's a lot of room because we have just not worked on them as much.
我認為還有很大的空間,因為我們在這些方面的工作還不夠多。
So I think there's room on monetizing them better.
所以我認為還有更好的貨幣化空間。
There is room on getting them to have better experiences coming back.
讓他們回來時獲得更好的體驗還有空間。
I think that's what I can say.
我想這就是我能說的。
We're working on it and it's getting better over time.
我們正在努力解決這個問題,隨著時間的推移,情況會變得越來越好。
Wyatt Swanson - Analyst
Wyatt Swanson - Analyst
Okay.
好的。
Fair enough.
很公平。
And then I had one on the intermediate English course.
然後我上了一門中級英語課程。
I know it's really early, but just in terms of users enrolling, is it primarily new users that are coming on to the platform that find out that there's advanced English?
我知道現在確實很早,但就用戶註冊而言,主要是新用戶進入平台後發現有高級英語嗎?
Or is it users that are already enrolled in basic English, they see the intermediate now and they're moving up?
或者是已經註冊了基礎英語的用戶,他們現在看到了中級英語並且正在升級?
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
It's both.
兩者都是。
At the moment, I think it's more of the current users, but that's partly because we have done very little to tell people that there's more advanced content.
目前,我認為更多的是當前用戶,但這部分是因為我們幾乎沒有做任何事情來告訴人們有更高級的內容。
We're going to be doing more over the next, call it, 1.5 years.
我們將在接下來的 1.5 年裡做更多的事情。
So we're getting both but it's more the current ones.
所以我們兩者都得到了,但更多的是當前的。
Deborah Belevan - Investor Relations
Deborah Belevan - Investor Relations
Okay.
好的。
We have no more questions so I'll just turn it back to Luis.
我們沒有更多問題了,所以我將其轉回給路易斯。
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Luis Von Ahn - Chairman of the Board, President, Chief Executive Officer, Co-Founder
Well, thank you, Debbie.
好吧,謝謝你,黛比。
I'd just like to thank everyone for joining us, and we look forward to seeing you at Duocon next month.
我只想感謝大家加入我們,我們期待下個月在 Duocon 見到您。