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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($295.5M vs $158.8M, roughly 1.9× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 11.9%, a 25.9% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (27.0% vs 22.8%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (28.7% CAGR vs 20.6%).
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.
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
DUOL vs EPRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $295.5M | $158.8M |
| Net Profit | $35.1M | $60.0M |
| Gross Margin | 55.5% | — |
| Operating Margin | 8.0% | 56.5% |
| Net Margin | 11.9% | 37.8% |
| Revenue YoY | 27.0% | 22.8% |
| Net Profit YoY | 24.0% | 6.5% |
| EPS (diluted) | $0.72 | $0.28 |
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 | $295.5M | $158.8M | ||
| Q4 25 | $282.9M | $149.9M | ||
| Q3 25 | $271.7M | $144.9M | ||
| Q2 25 | $252.3M | $137.1M | ||
| Q1 25 | $230.7M | $129.4M | ||
| Q4 24 | $209.6M | $119.7M | ||
| Q3 24 | $192.6M | $117.1M | ||
| Q2 24 | $178.3M | $109.3M |
| Q1 26 | $35.1M | $60.0M | ||
| Q4 25 | $42.0M | $68.1M | ||
| Q3 25 | $292.2M | $65.6M | ||
| Q2 25 | $44.8M | $63.2M | ||
| Q1 25 | $35.1M | $56.1M | ||
| Q4 24 | $13.9M | $55.4M | ||
| Q3 24 | $23.4M | $49.1M | ||
| Q2 24 | $24.4M | $51.5M |
| Q1 26 | 55.5% | — | ||
| 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 26 | 8.0% | 56.5% | ||
| Q4 25 | 15.4% | 65.9% | ||
| Q3 25 | 12.9% | 64.7% | ||
| Q2 25 | 13.2% | 64.1% | ||
| Q1 25 | 10.2% | 61.6% | ||
| Q4 24 | 6.6% | 66.1% | ||
| Q3 24 | 7.0% | 59.7% | ||
| Q2 24 | 10.5% | 61.1% |
| Q1 26 | 11.9% | 37.8% | ||
| Q4 25 | 14.8% | 45.4% | ||
| Q3 25 | 107.5% | 45.3% | ||
| Q2 25 | 17.8% | 46.1% | ||
| Q1 25 | 15.2% | 43.4% | ||
| Q4 24 | 6.6% | 46.3% | ||
| Q3 24 | 12.1% | 42.0% | ||
| Q2 24 | 13.7% | 47.1% |
| Q1 26 | $0.72 | $0.28 | ||
| Q4 25 | $0.99 | $0.34 | ||
| Q3 25 | $5.95 | $0.33 | ||
| Q2 25 | $0.91 | $0.32 | ||
| Q1 25 | $0.72 | $0.29 | ||
| Q4 24 | $0.31 | $0.31 | ||
| Q3 24 | $0.49 | $0.27 | ||
| Q2 24 | $0.51 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $15.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $4.4B |
| Total Assets | $2.0B | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | $15.2M | ||
| Q4 25 | $1.0B | $60.2M | ||
| Q3 25 | $1.0B | $23.8M | ||
| Q2 25 | $976.2M | $20.8M | ||
| Q1 25 | $884.0M | $47.0M | ||
| Q4 24 | $785.8M | $40.7M | ||
| Q3 24 | $854.4M | $32.7M | ||
| Q2 24 | $888.2M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | $1.3B | $4.4B | ||
| Q4 25 | $1.3B | $4.2B | ||
| Q3 25 | $1.3B | $3.8B | ||
| Q2 25 | $977.0M | $3.8B | ||
| Q1 25 | $893.8M | $3.8B | ||
| Q4 24 | $824.5M | $3.6B | ||
| Q3 24 | $822.5M | $3.2B | ||
| Q2 24 | $766.9M | $3.2B |
| Q1 26 | $2.0B | $7.2B | ||
| Q4 25 | $2.0B | $6.9B | ||
| Q3 25 | $1.9B | $6.6B | ||
| Q2 25 | $1.5B | $6.3B | ||
| Q1 25 | $1.4B | $6.1B | ||
| Q4 24 | $1.3B | $5.8B | ||
| Q3 24 | $1.2B | $5.5B | ||
| Q2 24 | $1.1B | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.59× |
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 | $105.6M | — |
| Free Cash FlowOCF − Capex | $103.0M | — |
| FCF MarginFCF / Revenue | 34.9% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | $368.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $105.6M | — | ||
| Q4 25 | $107.3M | $381.1M | ||
| Q3 25 | $84.2M | $99.0M | ||
| Q2 25 | $90.7M | $99.8M | ||
| Q1 25 | $105.6M | $77.2M | ||
| Q4 24 | $83.3M | $308.5M | ||
| Q3 24 | $56.3M | $73.5M | ||
| Q2 24 | $62.4M | $81.1M |
| Q1 26 | $103.0M | — | ||
| Q4 25 | $96.6M | — | ||
| Q3 25 | $79.4M | — | ||
| Q2 25 | $89.5M | — | ||
| Q1 25 | $104.3M | — | ||
| Q4 24 | $81.4M | — | ||
| Q3 24 | $53.1M | — | ||
| Q2 24 | $56.8M | — |
| Q1 26 | 34.9% | — | ||
| Q4 25 | 34.1% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 35.5% | — | ||
| Q1 25 | 45.2% | — | ||
| Q4 24 | 38.8% | — | ||
| Q3 24 | 27.6% | — | ||
| Q2 24 | 31.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 3.1% | — |
| Q1 26 | 3.01× | — | ||
| Q4 25 | 2.56× | 5.60× | ||
| Q3 25 | 0.29× | 1.51× | ||
| Q2 25 | 2.02× | 1.58× | ||
| Q1 25 | 3.01× | 1.38× | ||
| Q4 24 | 5.99× | 5.57× | ||
| Q3 24 | 2.41× | 1.50× | ||
| Q2 24 | 2.56× | 1.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DUOL
| Bookings | $283.5M | 96% |
| Other | $12.0M | 4% |
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
