Duolingo, Inc.DUOLEarnings & Financial Report
Duolingo, Inc. is a leading global edtech firm operating a gamified language learning platform. It offers free and premium self-paced courses for over 40 languages, plus language certification, math learning tools, and literacy programs, serving individual learners, schools and corporate clients worldwide.
Revenue
$178.3M
Gross Profit
$131.0M
Operating Profit
$18.7M
Net Profit
$24.4M
Gross Margin
73.4%
Operating Margin
10.5%
Net Margin
13.7%
YoY Growth
40.6%
EPS
$0.51
Duolingo, Inc. Q2 FY2024 Financial Summary
Duolingo, Inc. reported revenue of $178.3M (up 40.6% YoY) for Q2 FY2024, with a net profit of $24.4M (up 553.7% YoY) (13.7% margin). Cost of goods sold was $47.3M, operating expenses totaled $112.3M.
Key Financial Metrics
| Total Revenue | $178.3M |
|---|---|
| Net Profit | $24.4M |
| Gross Margin | 73.4% |
| Operating Margin | 10.5% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Duolingo, Inc. Q2 FY2024 revenue of $178.3M breaks down across 4 segments, led by License And Service at $143.9M (80.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| License And Service | $143.9M | 80.7% |
| Advertising | $13.3M | 7.4% |
| English Test | $10.7M | 6.0% |
| In App Purchases | $10.2M | 5.7% |
Duolingo, Inc. Revenue by Segment — Quarterly Trend
Duolingo, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as License And Service and Advertising) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| License And Service | — | $242.3M | $229.5M | $210.7M |
| Advertising | — | $20.2M | $21.0M | $20.6M |
| English Test | — | $10.3M | $9.6M | — |
| In App Purchases | — | — | $11.1M | $10.4M |
Duolingo, Inc. Annual Revenue by Year
Duolingo, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.0B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.0B |
| 2024 | $748.0M |
| 2023 | $531.1M |
| 2022 | $369.5M |
Duolingo, Inc. Quarterly Revenue & Net Profit History
Duolingo, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $295.5M | +27.0% | $35.1M | 11.9% |
| Q4 FY2025 | $282.9M | +35.0% | $42.0M | 14.8% |
| Q3 FY2025 | $271.7M | +41.1% | $292.2M | 107.5% |
| Q2 FY2025 | $252.3M | +41.5% | $44.8M | 17.8% |
| Q1 FY2025 | $230.7M | +37.7% | $35.1M | 15.2% |
| Q4 FY2024 | $209.6M | +38.8% | $13.9M | 6.6% |
| Q3 FY2024 | $192.6M | +39.9% | $23.4M | 12.1% |
| Q2 FY2024 | $178.3M | +40.6% | $24.4M | 13.7% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $178.3M | $192.6M | $209.6M | $230.7M | $252.3M | $271.7M | $282.9M | $295.5M |
| YoY Growth | 40.6% | 39.9% | 38.8% | 37.7% | 41.5% | 41.1% | 35.0% | 27.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.14B | $1.22B | $1.30B | $1.40B | $1.54B | $1.89B | $1.99B | $1.99B |
| Liabilities | $372.5M | $397.1M | $477.2M | $509.3M | $565.5M | $578.1M | $645.2M | $645.2M |
| Equity | $766.9M | $822.5M | $824.5M | $893.8M | $977.0M | $1.31B | $1.35B | $1.35B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $62.4M | $56.3M | $83.3M | $105.6M | $90.7M | $84.2M | $107.3M | $105.6M |