In July 2021, language-learning mobile-app company Duolingo (NASDAQ: DUOL) made its debut on the public market. Investors were immediately attracted to the company given its high growth, free-cash-flow positivity, and large addressable market. However, I decided not to buy shares, worried about this potentially being a high-churn business.

Now, over one year later, Duolingo is proving the bears (including me) wrong. In the second quarter of 2022, the company reported numbers for paying subscribers that are forcing me to reconsider my bearish thesis. Could Duolingo stock be a good buy after all?

Duolingo offers an app to help people learn to speak other languages. The app is monetized with advertising and in-app purchases. But people can also pay for a subscription to keep it ad-free and unlock other features.

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Source Fool.com