Ann Berry is joined by Gillian Munson, CFO of Duolingo to discuss the company's transformation as it pursues user growth over short-term revenue. They dive into Duolingo’s expansion beyond language learning, growth opportunities across Asia, and how AI is accelerating content production. Gillian also reflects on transitioning from Duolingo’s board to stepping into the CFO role.
00:00 Gillian Munson, CFO of Duolingo, Joins
01:47 Go big or go home: the strategy shift explained
03:32 The cost of not swinging for a billion users
04:05 Analyst skepticism addressed
05:36 Shots on goal: product, Asia, and performance marketing
07:28 Speaking features, AI ingredients, and learning outcomes
08:00 Chess, math, and music as new growth vectors
10:03 Asian language learners and China's English boom
11:34 AI-powered content creation
13:51 Where AI costs show up on the P&L
14:42 Gross margin compression and investment guidance
15:05 2026 guidance: bookings, revenue, and EBITDA targets
16:18 The balance sheet: $1B+ cash and buyback strategy
18:01 M&A appetite: tuck-ins vs. transformational deals
19:34 Why Duolingo is staying software-focused
20:43 Gillian's transition from board member to CFO
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