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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Objective (OCL) investor relations material
Objective AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2025 summary24 Nov, 2025
Shareholder proposals
Resolution to adopt the remuneration report for the year ending 30 June 2024 was put to an advisory vote, with proxies displayed and undirected proxies voted in favor by the Chairman.
Financial performance review
Revenue reached AUD 124 million, with annualised recurring revenue up 15% to AUD 120 million and adjusted EBITDA of AUD 46 million.
Net profit after tax was AUD 35 million, R&D investment was AUD 31 million (30% of software revenue), and operating cash flow was AUD 46 million.
Cash at balance date was AUD 99 million, and total dividends paid were AUD 0.22 per share unfranked.
84% of revenue was recurring, with a 17% CAGR in ARR and 28% CAGR in SaaS revenue over five years.
Non-recurring revenue declined by 2%, with a 39% adjusted EBITDA margin and 15% ARR growth.
Dividend announcements
Total dividends of AUD 0.22 per share unfranked were distributed.
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