Duolingo, Inc.

Good evening, everyone, and welcome to Duolingo's second quarter 2025 earnings webcast. Today, after market close, we released this quarter shareholder letter, a copy of which you can find on our IR website and investors at Duolingo.com. On today's call, we have Luis Fanon, our co-founder and CEO, and Matt Scarupa, our CFO. They'll begin with some brief remarks before opening the call to questions. Analysts will be able to ask the question by using the raise hand feature. And please note this event is being recorded and all attendees are in listen-only mode. Just a reminder, we'll 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 those statements as a result of new information or future events. Additionally, we'll present both GAAP and non-GAAP financial measures on today's call. 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 results. And now I will turn it over to Luis.

Hi, everyone, and thanks for joining us today. We had another great quarter record profitability, strong top line growth and solid performance across all subscription tiers. As a result, we're raising our full year guidance again, while still investing in both our core business and exciting new areas like chess, math and music that we believe will drive long term growth. All of this brings us one step closer to our mission, which is to develop the best education in the world and make it universally available. And now we'll take your questions.

We will now move to our question and answer session. At this time, if you would like to ask a question, please click on the raise hand button which can be found on the black bar at the bottom of your screen. You may remove yourself from the queue at any time by lowering your hand. When it is your turn, you will receive a message on your screen asking you to be promoted to a panelist. Please accept, wait a moment, and once you have been promoted, you will hear your name called and you may unmute your video and audio and ask your question. Your Zoom application may disappear momentarily. This is expected and your window will reappear. We are allowing analysts one relevant follow-up to their main question. We will now pause a moment to allow the team to gather and assemble the queue. Our first question comes from Nathan Feathers with Morgan Stanley. Nathan, please unmute your audio and video and ask your question.