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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and Duolingo, Inc. (DUOL). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($282.9M vs $183.1M, roughly 1.5× Amphastar Pharmaceuticals, Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 13.3%, a 1.5% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs -1.8%). Duolingo, Inc. produced more free cash flow last quarter ($96.6M vs $24.6M). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 3.2%).
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
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.
AMPH vs DUOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $282.9M |
| Net Profit | $24.4M | $42.0M |
| Gross Margin | 46.8% | 72.8% |
| Operating Margin | 19.4% | 15.4% |
| Net Margin | 13.3% | 14.8% |
| Revenue YoY | -1.8% | 35.0% |
| Net Profit YoY | -35.7% | 201.7% |
| EPS (diluted) | $0.51 | $0.99 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.1M | $282.9M | ||
| Q3 25 | $191.8M | $271.7M | ||
| Q2 25 | $174.4M | $252.3M | ||
| Q1 25 | $170.5M | $230.7M | ||
| Q4 24 | $186.5M | $209.6M | ||
| Q3 24 | $191.2M | $192.6M | ||
| Q2 24 | $182.4M | $178.3M | ||
| Q1 24 | $171.8M | $167.6M |
| Q4 25 | $24.4M | $42.0M | ||
| Q3 25 | $17.4M | $292.2M | ||
| Q2 25 | $31.0M | $44.8M | ||
| Q1 25 | $25.3M | $35.1M | ||
| Q4 24 | $38.0M | $13.9M | ||
| Q3 24 | $40.4M | $23.4M | ||
| Q2 24 | $37.9M | $24.4M | ||
| Q1 24 | $43.2M | $27.0M |
| Q4 25 | 46.8% | 72.8% | ||
| Q3 25 | 51.4% | 72.5% | ||
| Q2 25 | 49.6% | 72.4% | ||
| Q1 25 | 50.0% | 71.1% | ||
| Q4 24 | 46.5% | 71.9% | ||
| Q3 24 | 53.3% | 72.9% | ||
| Q2 24 | 52.2% | 73.4% | ||
| Q1 24 | 52.4% | 73.0% |
| Q4 25 | 19.4% | 15.4% | ||
| Q3 25 | 13.2% | 12.9% | ||
| Q2 25 | 24.2% | 13.2% | ||
| Q1 25 | 21.9% | 10.2% | ||
| Q4 24 | 24.2% | 6.6% | ||
| Q3 24 | 29.8% | 7.0% | ||
| Q2 24 | 30.3% | 10.5% | ||
| Q1 24 | 27.9% | 9.8% |
| Q4 25 | 13.3% | 14.8% | ||
| Q3 25 | 9.0% | 107.5% | ||
| Q2 25 | 17.8% | 17.8% | ||
| Q1 25 | 14.8% | 15.2% | ||
| Q4 24 | 20.4% | 6.6% | ||
| Q3 24 | 21.1% | 12.1% | ||
| Q2 24 | 20.8% | 13.7% | ||
| Q1 24 | 25.1% | 16.1% |
| Q4 25 | $0.51 | $0.99 | ||
| Q3 25 | $0.37 | $5.95 | ||
| Q2 25 | $0.64 | $0.91 | ||
| Q1 25 | $0.51 | $0.72 | ||
| Q4 24 | $0.74 | $0.31 | ||
| Q3 24 | $0.78 | $0.49 | ||
| Q2 24 | $0.73 | $0.51 | ||
| Q1 24 | $0.81 | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $282.8M | $1.0B |
| Total DebtLower is stronger | $608.7M | — |
| Stockholders' EquityBook value | $788.8M | $1.3B |
| Total Assets | $1.6B | $2.0B |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.8M | $1.0B | ||
| Q3 25 | $276.2M | $1.0B | ||
| Q2 25 | $231.8M | $976.2M | ||
| Q1 25 | $236.9M | $884.0M | ||
| Q4 24 | $221.6M | $785.8M | ||
| Q3 24 | $250.5M | $854.4M | ||
| Q2 24 | $217.8M | $888.2M | ||
| Q1 24 | $289.6M | $829.7M |
| Q4 25 | $608.7M | — | ||
| Q3 25 | $608.6M | — | ||
| Q2 25 | $607.7M | — | ||
| Q1 25 | $603.9M | — | ||
| Q4 24 | $601.6M | — | ||
| Q3 24 | $596.4M | — | ||
| Q2 24 | $586.9M | — | ||
| Q1 24 | $594.0M | — |
| Q4 25 | $788.8M | $1.3B | ||
| Q3 25 | $776.7M | $1.3B | ||
| Q2 25 | $757.5M | $977.0M | ||
| Q1 25 | $751.3M | $893.8M | ||
| Q4 24 | $732.3M | $824.5M | ||
| Q3 24 | $727.7M | $822.5M | ||
| Q2 24 | $713.3M | $766.9M | ||
| Q1 24 | $672.4M | $711.1M |
| Q4 25 | $1.6B | $2.0B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $1.6B | $1.4B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.6B | $1.1B |
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.82× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.88× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $32.9M | $107.3M |
| Free Cash FlowOCF − Capex | $24.6M | $96.6M |
| FCF MarginFCF / Revenue | 13.4% | 34.1% |
| Capex IntensityCapex / Revenue | 4.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.35× | 2.56× |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | $369.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.9M | $107.3M | ||
| Q3 25 | $52.6M | $84.2M | ||
| Q2 25 | $35.6M | $90.7M | ||
| Q1 25 | $35.1M | $105.6M | ||
| Q4 24 | $29.0M | $83.3M | ||
| Q3 24 | $60.0M | $56.3M | ||
| Q2 24 | $69.1M | $62.4M | ||
| Q1 24 | $55.3M | $83.5M |
| Q4 25 | $24.6M | $96.6M | ||
| Q3 25 | $47.2M | $79.4M | ||
| Q2 25 | $25.0M | $89.5M | ||
| Q1 25 | $24.4M | $104.3M | ||
| Q4 24 | $16.6M | $81.4M | ||
| Q3 24 | $46.2M | $53.1M | ||
| Q2 24 | $63.1M | $56.8M | ||
| Q1 24 | $46.5M | $82.1M |
| Q4 25 | 13.4% | 34.1% | ||
| Q3 25 | 24.6% | 29.2% | ||
| Q2 25 | 14.3% | 35.5% | ||
| Q1 25 | 14.3% | 45.2% | ||
| Q4 24 | 8.9% | 38.8% | ||
| Q3 24 | 24.1% | 27.6% | ||
| Q2 24 | 34.6% | 31.9% | ||
| Q1 24 | 27.1% | 49.0% |
| Q4 25 | 4.5% | 3.8% | ||
| Q3 25 | 2.8% | 1.8% | ||
| Q2 25 | 6.1% | 0.5% | ||
| Q1 25 | 6.3% | 0.6% | ||
| Q4 24 | 6.7% | 0.9% | ||
| Q3 24 | 7.2% | 1.7% | ||
| Q2 24 | 3.3% | 3.1% | ||
| Q1 24 | 5.1% | 0.8% |
| Q4 25 | 1.35× | 2.56× | ||
| Q3 25 | 3.03× | 0.29× | ||
| Q2 25 | 1.15× | 2.02× | ||
| Q1 25 | 1.39× | 3.01× | ||
| Q4 24 | 0.76× | 5.99× | ||
| Q3 24 | 1.48× | 2.41× | ||
| Q2 24 | 1.82× | 2.56× | ||
| Q1 24 | 1.28× | 3.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
