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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and IDEX Corporation (IEX). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $295.5M, roughly 1.3× Duolingo, Inc.). IDEX Corporation runs the higher net margin — 30.1% vs 11.9%, a 18.2% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (27.0% vs 16.7%). Duolingo, Inc. produced more free cash flow last quarter ($103.0M vs $86.0M). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (28.7% CAGR vs -29.4%).
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.
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
DUOL vs IEX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $295.5M | $398.4M |
| Net Profit | $35.1M | $120.0M |
| Gross Margin | 55.5% | 99.9% |
| Operating Margin | 8.0% | 43.3% |
| Net Margin | 11.9% | 30.1% |
| Revenue YoY | 27.0% | 16.7% |
| Net Profit YoY | 24.0% | 25.7% |
| EPS (diluted) | $0.72 | $1.61 |
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.
| Q2 26 | — | $398.4M | ||
| Q1 26 | $295.5M | $407.7M | ||
| Q4 25 | $282.9M | $899.1M | ||
| Q3 25 | $271.7M | $878.7M | ||
| Q2 25 | $252.3M | $865.4M | ||
| Q1 25 | $230.7M | $814.3M | ||
| Q4 24 | $209.6M | $862.9M | ||
| Q3 24 | $192.6M | $798.2M |
| Q2 26 | — | $120.0M | ||
| Q1 26 | $35.1M | $128.3M | ||
| Q4 25 | $42.0M | $128.3M | ||
| Q3 25 | $292.2M | $127.8M | ||
| Q2 25 | $44.8M | $131.6M | ||
| Q1 25 | $35.1M | $95.5M | ||
| Q4 24 | $13.9M | $123.2M | ||
| Q3 24 | $23.4M | $119.1M |
| Q2 26 | — | 99.9% | ||
| Q1 26 | 55.5% | 94.9% | ||
| Q4 25 | 72.8% | 43.1% | ||
| Q3 25 | 72.5% | 44.5% | ||
| Q2 25 | 72.4% | 45.3% | ||
| Q1 25 | 71.1% | 45.3% | ||
| Q4 24 | 71.9% | 42.5% | ||
| Q3 24 | 72.9% | 44.3% |
| Q2 26 | — | 43.3% | ||
| Q1 26 | 8.0% | 45.0% | ||
| Q4 25 | 15.4% | 20.4% | ||
| Q3 25 | 12.9% | 21.1% | ||
| Q2 25 | 13.2% | 21.7% | ||
| Q1 25 | 10.2% | 17.4% | ||
| Q4 24 | 6.6% | 19.2% | ||
| Q3 24 | 7.0% | 21.0% |
| Q2 26 | — | 30.1% | ||
| Q1 26 | 11.9% | 31.5% | ||
| Q4 25 | 14.8% | 14.3% | ||
| Q3 25 | 107.5% | 14.5% | ||
| Q2 25 | 17.8% | 15.2% | ||
| Q1 25 | 15.2% | 11.7% | ||
| Q4 24 | 6.6% | 14.3% | ||
| Q3 24 | 12.1% | 14.9% |
| Q2 26 | — | $1.61 | ||
| Q1 26 | $0.72 | $1.71 | ||
| Q4 25 | $0.99 | $1.71 | ||
| Q3 25 | $5.95 | $1.70 | ||
| Q2 25 | $0.91 | $1.74 | ||
| Q1 25 | $0.72 | $1.26 | ||
| Q4 24 | $0.31 | $1.61 | ||
| Q3 24 | $0.49 | $1.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $586.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $4.0B |
| Total Assets | $2.0B | $6.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $586.2M | ||
| Q1 26 | $1.1B | $580.0M | ||
| Q4 25 | $1.0B | $580.0M | ||
| Q3 25 | $1.0B | $593.8M | ||
| Q2 25 | $976.2M | $568.2M | ||
| Q1 25 | $884.0M | $594.1M | ||
| Q4 24 | $785.8M | $620.8M | ||
| Q3 24 | $854.4M | $633.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.1B |
| Q2 26 | — | $4.0B | ||
| Q1 26 | $1.3B | $4.0B | ||
| Q4 25 | $1.3B | $4.0B | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | $977.0M | $4.0B | ||
| Q1 25 | $893.8M | $3.9B | ||
| Q4 24 | $824.5M | $3.8B | ||
| Q3 24 | $822.5M | $3.8B |
| Q2 26 | — | $6.9B | ||
| Q1 26 | $2.0B | $6.9B | ||
| Q4 25 | $2.0B | $6.9B | ||
| Q3 25 | $1.9B | $7.0B | ||
| Q2 25 | $1.5B | $6.9B | ||
| Q1 25 | $1.4B | $6.8B | ||
| Q4 24 | $1.3B | $6.7B | ||
| Q3 24 | $1.2B | $7.0B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.55× |
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 | $86.0M |
| FCF MarginFCF / Revenue | 34.9% | 21.6% |
| Capex IntensityCapex / Revenue | — | 4.4% |
| Cash ConversionOCF / Net Profit | 3.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | $368.4M | $654.3M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | $105.6M | — | ||
| Q4 25 | $107.3M | $209.5M | ||
| Q3 25 | $84.2M | $203.5M | ||
| Q2 25 | $90.7M | $161.7M | ||
| Q1 25 | $105.6M | $105.7M | ||
| Q4 24 | $83.3M | $172.6M | ||
| Q3 24 | $56.3M | $205.3M |
| Q2 26 | — | $86.0M | ||
| Q1 26 | $103.0M | $189.8M | ||
| Q4 25 | $96.6M | $189.8M | ||
| Q3 25 | $79.4M | $188.7M | ||
| Q2 25 | $89.5M | $146.9M | ||
| Q1 25 | $104.3M | $91.4M | ||
| Q4 24 | $81.4M | $157.1M | ||
| Q3 24 | $53.1M | $191.6M |
| Q2 26 | — | 21.6% | ||
| Q1 26 | 34.9% | 46.6% | ||
| Q4 25 | 34.1% | 21.1% | ||
| Q3 25 | 29.2% | 21.5% | ||
| Q2 25 | 35.5% | 17.0% | ||
| Q1 25 | 45.2% | 11.2% | ||
| Q4 24 | 38.8% | 18.2% | ||
| Q3 24 | 27.6% | 24.0% |
| Q2 26 | — | 4.4% | ||
| Q1 26 | — | 15.6% | ||
| Q4 25 | 3.8% | 2.2% | ||
| Q3 25 | 1.8% | 1.7% | ||
| Q2 25 | 0.5% | 1.7% | ||
| Q1 25 | 0.6% | 1.8% | ||
| Q4 24 | 0.9% | 1.8% | ||
| Q3 24 | 1.7% | 1.7% |
| Q2 26 | — | — | ||
| Q1 26 | 3.01× | — | ||
| Q4 25 | 2.56× | 1.63× | ||
| Q3 25 | 0.29× | 1.59× | ||
| Q2 25 | 2.02× | 1.23× | ||
| Q1 25 | 3.01× | 1.11× | ||
| Q4 24 | 5.99× | 1.40× | ||
| Q3 24 | 2.41× | 1.72× |
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% |
IEX
Segment breakdown not available.
