多邻国（DUOL）今日盘后股价大跌21.89%，引发了市场的高度关注。
消息面上，公司发布了2025年第四季度及全年业绩报告，并给出了2026年的财务展望。多邻国预测第一季度和全年的预订量将低于市场预期，主要原因是公司战略重心转向更快的用户增长，而非货币化，这预计将拖累今年的预订量增长和盈利能力。具体而言，公司预计2026年预订量增长约11%，远低于此前方法可能实现的约20%增长；同时，由于投资扩大人工智能功能并加强市场营销，调整后的核心利润率预计将下降至25%左右。
此外，公司预计同比营收增长率将在今年第二季度和第三季度连续放缓。尽管董事会授权了高达4亿美元的股票回购计划，但投资者对增长放缓的担忧主导了市场情绪，导致了股价的显著下跌。
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