多邻国(DUOL)今日盘前股价大跌22.86%，引发了市场的广泛关注。
消息面上，多邻国公布了2025年第四季度及全年业绩报告，虽然第四季度业绩超出市场预期，但公司对2026年的业绩展望令人失望。公司宣布将战略重心从货币化转向优先推动用户增长，这导致其第一季度及全年的预订额和营收预测均低于市场预期。公司预计2026年预订量增长仅约11%，远低于此前方法可能实现的约20%增速，同时由于加大对人工智能功能及市场营销的投入，调整后的核心利润率预计将从2025年的29.5%下滑至25%左右。此外，日活跃用户增速预计将放缓至约20%，低于此前超过40%的增长率。
尽管公司第四季度业绩表现强劲，且董事会批准了高达4亿美元的股票回购计划，但市场对增长显著放缓的担忧主导了情绪，从而引发了盘前时段的抛售。
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