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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and Duolingo, Inc. (DUOL). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $282.9M, roughly 1.2× Duolingo, Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 4.7%, a 10.1% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 1.6%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 2.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
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.
APOG vs DUOL — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $282.9M |
| Net Profit | $16.6M | $42.0M |
| Gross Margin | 22.4% | 72.8% |
| Operating Margin | 7.3% | 15.4% |
| Net Margin | 4.7% | 14.8% |
| Revenue YoY | 1.6% | 35.0% |
| Net Profit YoY | 568.8% | 201.7% |
| EPS (diluted) | $0.78 | $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.
| Q1 26 | $351.4M | — | ||
| Q4 25 | $348.6M | $282.9M | ||
| Q3 25 | $358.2M | $271.7M | ||
| Q2 25 | $346.6M | $252.3M | ||
| Q1 25 | $345.7M | $230.7M | ||
| Q4 24 | $341.3M | $209.6M | ||
| Q3 24 | $342.4M | $192.6M | ||
| Q2 24 | $331.5M | $178.3M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $42.0M | ||
| Q3 25 | $23.6M | $292.2M | ||
| Q2 25 | $-2.7M | $44.8M | ||
| Q1 25 | $2.5M | $35.1M | ||
| Q4 24 | $21.0M | $13.9M | ||
| Q3 24 | $30.6M | $23.4M | ||
| Q2 24 | $31.0M | $24.4M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 72.8% | ||
| Q3 25 | 23.1% | 72.5% | ||
| Q2 25 | 21.7% | 72.4% | ||
| Q1 25 | 21.6% | 71.1% | ||
| Q4 24 | 26.1% | 71.9% | ||
| Q3 24 | 28.4% | 72.9% | ||
| Q2 24 | 29.8% | 73.4% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 15.4% | ||
| Q3 25 | 7.5% | 12.9% | ||
| Q2 25 | 2.0% | 13.2% | ||
| Q1 25 | 1.8% | 10.2% | ||
| Q4 24 | 8.4% | 6.6% | ||
| Q3 24 | 12.3% | 7.0% | ||
| Q2 24 | 12.5% | 10.5% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 14.8% | ||
| Q3 25 | 6.6% | 107.5% | ||
| Q2 25 | -0.8% | 17.8% | ||
| Q1 25 | 0.7% | 15.2% | ||
| Q4 24 | 6.1% | 6.6% | ||
| Q3 24 | 8.9% | 12.1% | ||
| Q2 24 | 9.4% | 13.7% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $0.99 | ||
| Q3 25 | $1.10 | $5.95 | ||
| Q2 25 | $-0.13 | $0.91 | ||
| Q1 25 | $0.12 | $0.72 | ||
| Q4 24 | $0.96 | $0.31 | ||
| Q3 24 | $1.40 | $0.49 | ||
| Q2 24 | $1.41 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $39.5M | $1.0B |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $1.3B |
| Total Assets | $1.1B | $2.0B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $1.0B | ||
| Q3 25 | $39.5M | $1.0B | ||
| Q2 25 | $32.8M | $976.2M | ||
| Q1 25 | $41.4M | $884.0M | ||
| Q4 24 | $43.9M | $785.8M | ||
| Q3 24 | $51.0M | $854.4M | ||
| Q2 24 | $30.4M | $888.2M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $1.3B | ||
| Q3 25 | $500.2M | $1.3B | ||
| Q2 25 | $481.8M | $977.0M | ||
| Q1 25 | $487.9M | $893.8M | ||
| Q4 24 | $522.1M | $824.5M | ||
| Q3 24 | $506.4M | $822.5M | ||
| Q2 24 | $480.0M | $766.9M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $917.1M | $1.2B | ||
| Q2 24 | $889.0M | $1.1B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $122.5M | $107.3M |
| Free Cash FlowOCF − Capex | — | $96.6M |
| FCF MarginFCF / Revenue | — | 34.1% |
| Capex IntensityCapex / Revenue | 7.8% | 3.8% |
| Cash ConversionOCF / Net Profit | 7.37× | 2.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $369.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $107.3M | ||
| Q3 25 | $57.1M | $84.2M | ||
| Q2 25 | $-19.8M | $90.7M | ||
| Q1 25 | $30.0M | $105.6M | ||
| Q4 24 | $31.0M | $83.3M | ||
| Q3 24 | $58.7M | $56.3M | ||
| Q2 24 | $5.5M | $62.4M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $96.6M | ||
| Q3 25 | $52.4M | $79.4M | ||
| Q2 25 | $-26.9M | $89.5M | ||
| Q1 25 | $19.1M | $104.3M | ||
| Q4 24 | $22.0M | $81.4M | ||
| Q3 24 | $50.2M | $53.1M | ||
| Q2 24 | $-1.8M | $56.8M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 34.1% | ||
| Q3 25 | 14.6% | 29.2% | ||
| Q2 25 | -7.8% | 35.5% | ||
| Q1 25 | 5.5% | 45.2% | ||
| Q4 24 | 6.4% | 38.8% | ||
| Q3 24 | 14.7% | 27.6% | ||
| Q2 24 | -0.5% | 31.9% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 3.8% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 2.1% | 0.5% | ||
| Q1 25 | 3.2% | 0.6% | ||
| Q4 24 | 2.6% | 0.9% | ||
| Q3 24 | 2.5% | 1.7% | ||
| Q2 24 | 2.2% | 3.1% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 2.56× | ||
| Q3 25 | 2.41× | 0.29× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | 12.08× | 3.01× | ||
| Q4 24 | 1.48× | 5.99× | ||
| Q3 24 | 1.92× | 2.41× | ||
| Q2 24 | 0.18× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
