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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.1× ANI PHARMACEUTICALS INC). Duolingo, Inc. runs the higher net margin — 14.8% vs 11.1%, a 3.7% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 29.6%). Duolingo, Inc. produced more free cash flow last quarter ($96.6M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 29.9%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
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.
ANIP vs DUOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $282.9M |
| Net Profit | $27.5M | $42.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 14.1% | 15.4% |
| Net Margin | 11.1% | 14.8% |
| Revenue YoY | 29.6% | 35.0% |
| Net Profit YoY | 367.5% | 201.7% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $282.9M | ||
| Q3 25 | $227.8M | $271.7M | ||
| Q2 25 | $211.4M | $252.3M | ||
| Q1 25 | $197.1M | $230.7M | ||
| Q4 24 | $190.6M | $209.6M | ||
| Q3 24 | $148.3M | $192.6M | ||
| Q2 24 | $138.0M | $178.3M | ||
| Q1 24 | $137.4M | $167.6M |
| Q4 25 | $27.5M | $42.0M | ||
| Q3 25 | $26.6M | $292.2M | ||
| Q2 25 | $8.5M | $44.8M | ||
| Q1 25 | $15.7M | $35.1M | ||
| Q4 24 | $-10.3M | $13.9M | ||
| Q3 24 | $-24.2M | $23.4M | ||
| Q2 24 | $-2.3M | $24.4M | ||
| Q1 24 | $18.2M | $27.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.5% | ||
| Q2 25 | — | 72.4% | ||
| Q1 25 | — | 71.1% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.9% | ||
| Q2 24 | — | 73.4% | ||
| Q1 24 | — | 73.0% |
| Q4 25 | 14.1% | 15.4% | ||
| Q3 25 | 15.9% | 12.9% | ||
| Q2 25 | 6.6% | 13.2% | ||
| Q1 25 | 13.3% | 10.2% | ||
| Q4 24 | -2.3% | 6.6% | ||
| Q3 24 | -13.8% | 7.0% | ||
| Q2 24 | 3.7% | 10.5% | ||
| Q1 24 | 14.8% | 9.8% |
| Q4 25 | 11.1% | 14.8% | ||
| Q3 25 | 11.7% | 107.5% | ||
| Q2 25 | 4.0% | 17.8% | ||
| Q1 25 | 8.0% | 15.2% | ||
| Q4 24 | -5.4% | 6.6% | ||
| Q3 24 | -16.3% | 12.1% | ||
| Q2 24 | -1.7% | 13.7% | ||
| Q1 24 | 13.2% | 16.1% |
| Q4 25 | $1.14 | $0.99 | ||
| Q3 25 | $1.13 | $5.95 | ||
| Q2 25 | $0.36 | $0.91 | ||
| Q1 25 | $0.69 | $0.72 | ||
| Q4 24 | $-0.45 | $0.31 | ||
| Q3 24 | $-1.27 | $0.49 | ||
| Q2 24 | $-0.14 | $0.51 | ||
| Q1 24 | $0.82 | $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 | $285.6M | $1.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $1.3B |
| Total Assets | $1.4B | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $1.0B | ||
| Q3 25 | $262.6M | $1.0B | ||
| Q2 25 | $217.8M | $976.2M | ||
| Q1 25 | $149.8M | $884.0M | ||
| Q4 24 | $144.9M | $785.8M | ||
| Q3 24 | $145.0M | $854.4M | ||
| Q2 24 | $240.1M | $888.2M | ||
| Q1 24 | $228.6M | $829.7M |
| Q4 25 | $540.7M | $1.3B | ||
| Q3 25 | $505.8M | $1.3B | ||
| Q2 25 | $436.8M | $977.0M | ||
| Q1 25 | $418.6M | $893.8M | ||
| Q4 24 | $403.7M | $824.5M | ||
| Q3 24 | $405.9M | $822.5M | ||
| Q2 24 | $455.8M | $766.9M | ||
| Q1 24 | $452.0M | $711.1M |
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $920.8M | $1.1B | ||
| Q1 24 | $914.5M | $1.1B |
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 | $30.4M | $107.3M |
| Free Cash FlowOCF − Capex | $29.1M | $96.6M |
| FCF MarginFCF / Revenue | 11.8% | 34.1% |
| Capex IntensityCapex / Revenue | 0.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.10× | 2.56× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $369.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $107.3M | ||
| Q3 25 | $44.1M | $84.2M | ||
| Q2 25 | $75.8M | $90.7M | ||
| Q1 25 | $35.0M | $105.6M | ||
| Q4 24 | $15.9M | $83.3M | ||
| Q3 24 | $12.5M | $56.3M | ||
| Q2 24 | $17.4M | $62.4M | ||
| Q1 24 | $18.3M | $83.5M |
| Q4 25 | $29.1M | $96.6M | ||
| Q3 25 | $38.0M | $79.4M | ||
| Q2 25 | $71.8M | $89.5M | ||
| Q1 25 | $32.5M | $104.3M | ||
| Q4 24 | $13.5M | $81.4M | ||
| Q3 24 | $7.7M | $53.1M | ||
| Q2 24 | $13.0M | $56.8M | ||
| Q1 24 | $13.7M | $82.1M |
| Q4 25 | 11.8% | 34.1% | ||
| Q3 25 | 16.7% | 29.2% | ||
| Q2 25 | 34.0% | 35.5% | ||
| Q1 25 | 16.5% | 45.2% | ||
| Q4 24 | 7.1% | 38.8% | ||
| Q3 24 | 5.2% | 27.6% | ||
| Q2 24 | 9.4% | 31.9% | ||
| Q1 24 | 10.0% | 49.0% |
| Q4 25 | 0.5% | 3.8% | ||
| Q3 25 | 2.7% | 1.8% | ||
| Q2 25 | 1.9% | 0.5% | ||
| Q1 25 | 1.3% | 0.6% | ||
| Q4 24 | 1.3% | 0.9% | ||
| Q3 24 | 3.2% | 1.7% | ||
| Q2 24 | 3.2% | 3.1% | ||
| Q1 24 | 3.3% | 0.8% |
| Q4 25 | 1.10× | 2.56× | ||
| Q3 25 | 1.66× | 0.29× | ||
| Q2 25 | 8.87× | 2.02× | ||
| Q1 25 | 2.23× | 3.01× | ||
| Q4 24 | — | 5.99× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | — | 2.56× | ||
| Q1 24 | 1.00× | 3.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
