Shares of Duolingo (NASDAQ:DUOL) dropped about 6.5% on Monday after the company announced a change in its finance leadership and shared preliminary results for the fourth quarter.
The Pittsburgh-based language learning group said Gillian Munson will assume the role of Chief Financial Officer on February 23, 2026, succeeding Matt Skaruppa, who is stepping down after nearly six years with the company. Munson has been a member of Duolingo’s board since 2019 and currently serves as chair of its Audit, Risk and Compliance Committee.
Alongside the leadership update, Duolingo released early indicators for the fourth quarter of 2025, reporting year-on-year daily active user growth of around 30%. The company also said bookings are expected to come in at or slightly above the top end of its previously communicated guidance range of $329.5 million to $335.5 million.
Despite the solid operating metrics, investor sentiment appeared cautious, reflecting concerns around the management transition and Duolingo’s emphasis on investing in product development rather than maximizing near-term financial results.
“We’re prioritizing teaching better and user growth, and we executed on that strategy in the fourth quarter,” said Luis von Ahn, Duolingo’s Co-Founder and CEO. “We plan to continue to invest meaningfully in the product, even when it involves near-term tradeoffs.”
Skaruppa will remain in the CFO role until Munson officially takes over, after which he will move into an advisory position to support a smooth transition.