去年底刚突破 5000 万美金 ARR 拿下独角兽估值的 Speak《 AI 语言学习的第一个独角兽来来，ARR 已近 5000 万美金 》，今天宣布其 ARR 已经突破 了 1 亿美金。 虽然与行业巨头 Duolingo 年收入 10 亿美金相比还有很大差距，不过这应该是目前知道的 AI 语言学习领域的第一个 1 亿美金 ARR 产品。 CEO Connor Zwick 说， Speak 的下载量超过了 1500 万，日留存率在 40% 左右 。而去年开始进军 B 端企业级市场以来，现在已经有 500 多家企业成 为其客户，比方说毕马威和韩国现代等。 而且与 C 端用户大部分在韩国一样，B 端企业大部分也都是在韩国的企业为其员工购买这项服务。Connor Zwick 声称人们在 Speak 上说话的次数是其 他语言学习应用的 5 到 10 倍，在韩国、日本和台湾取得成功后，他们现在打算大力进军美国市场。 自从 AI 大模型爆发后，几乎所有的语言学习类产品都差不多基于 AI 来做了，特别是用 AI 来练习口语这块，比方说我在 5 月份才介绍过的这个 核心主打 AI 练口语 的产品《 4 个月 ARR 涨了 2 ...

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was €35.5 billion, which was below expectations but represented a 2% increase year-over-year [5][31] - Gross margin improved to 39.8%, exceeding the guided range and reflecting a 200 basis point increase from the previous quarter [8][32] - Adjusted EBITDA loss for the quarter was €6.9 million, which was below the guided range but showed an 8% improvement quarter-over-quarter [11][35] - Cash costs, defined as labor costs and operating expenses excluding R&D, decreased by 34% year-over-year [9][34] Business Line Data and Key Metrics Changes - AC sales totaled €22.4 million, accounting for approximately 63% of global revenue, down 16% compared to the previous quarter and down 5% year-over-year [16] - DC sales reached €5.8 million, representing a 34% increase year-over-year and a 40% increase sequentially [18][31] - Software, services, and other categories generated €7.3 million, reflecting an 11% year-over-year increase [20][21] Market Data and Key Metrics Changes - North America contributed €11 million or 31% of total revenue, with a 1318% increase at constant FX compared to the same period last year [15] - The European market contributed €23.6 million or 66% of total revenue, reflecting a 3% increase year-over-year [13] - The Canadian market saw a 49% decline compared to the same period last year, impacting overall performance [15][28] Company Strategy and Development Direction - The company plans to reinforce its sales organization and integrate different sales teams across product segments for improved efficiency [11][39] - A new CEO has been appointed to drive expansion in strategic markets and develop scalable commercial models [11] - The focus remains on restoring revenue growth and achieving profitability through operational efficiency and strategic investments [12][39] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complex environment characterized by volatile market demand and evolving regulations [12] - The company is well-positioned for growth with a strong brand, complete product portfolio, and efficient organizational structure [12] - Future guidance for 2025 expects revenue in the range of €36 million to €39 million and a gross margin between 38% and 40% [41] Other Important Information - The company reached a standstill agreement with its banking partners to temporarily suspend payments on its €179 million debt [36] - Inventory levels decreased by 34% year-over-year, allowing for more efficient operations [37] Q&A Session Summary Question: Market share trends in Europe - Management indicated that market share varies by product line and country, with stable or increasing shares in countries like Spain, France, and the UK, while some regions like the Netherlands and Italy saw declines [44][46] Question: Announcement regarding €179 million debt - The standstill agreement matures on December 9, and further announcements are expected before that date [48][50]

Financial Performance - Q1 2025 revenue reached €376 million, a 13% year-over-year decrease[8] - North America experienced a 142% year-over-year revenue increase[8] - Q1 gross margin was 381%[8] - Adjusted EBITDA loss for Q1 was €78 million[8] - Q1 cash costs decreased by 32% year-over-year[8] Revenue Breakdown - Europe accounted for 68% of Q1 2025 revenue, totaling €255 million[11] - North America contributed 30% of Q1 2025 revenue, amounting to €114 million[11] - APAC represented 1% of Q1 2025 revenue, with €300k[11] - LATAM also accounted for 1% of Q1 2025 revenue, generating €480k[11] - AC sales made up 68% of Q1 2025 revenue, reaching €256 million[13] - DC sales comprised 11% of Q1 2025 revenue, totaling €4 million[13] - Software, Services & Others contributed 21% of Q1 2025 revenue, amounting to €8 million[13] Financial Position - Cash and cash equivalents and financial investments totaled €406 million[31] - Loans and borrowings amounted to €199 million[31] - Consolidated inventory was €636 million, a 29% year-over-year reduction[31] - Capex for Q1 was €07 million[31]