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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($282.9M vs $219.1M, roughly 1.3× Iridium Communications Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 9.9%, a 5.0% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 1.9%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 4.4%).
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.
Iridium Communications Inc. is a publicly traded American company headquartered in McLean, Virginia, United States. Iridium operates the Iridium satellite constellation, a system of 80 satellites: 66 are active satellites and the remaining fourteen function as in-orbit spares. Iridium Satellites are used for worldwide voice and data communication from handheld satellite phones, satellite messenger communication devices and integrated transceivers, as well as for two-way satellite messaging se...
DUOL vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $219.1M |
| Net Profit | $42.0M | $21.6M |
| Gross Margin | 72.8% | — |
| Operating Margin | 15.4% | 23.2% |
| Net Margin | 14.8% | 9.9% |
| Revenue YoY | 35.0% | 1.9% |
| Net Profit YoY | 201.7% | — |
| EPS (diluted) | $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 | — | $219.1M | ||
| Q4 25 | $282.9M | $212.9M | ||
| Q3 25 | $271.7M | $226.9M | ||
| Q2 25 | $252.3M | $216.9M | ||
| Q1 25 | $230.7M | $214.9M | ||
| Q4 24 | $209.6M | $213.0M | ||
| Q3 24 | $192.6M | $212.8M | ||
| Q2 24 | $178.3M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $42.0M | $24.9M | ||
| Q3 25 | $292.2M | $37.1M | ||
| Q2 25 | $44.8M | $22.0M | ||
| Q1 25 | $35.1M | $30.4M | ||
| Q4 24 | $13.9M | $36.3M | ||
| Q3 24 | $23.4M | $24.4M | ||
| Q2 24 | $24.4M | $32.3M |
| Q1 26 | — | — | ||
| 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 | — | 23.2% | ||
| Q4 25 | 15.4% | 25.9% | ||
| Q3 25 | 12.9% | 30.9% | ||
| Q2 25 | 13.2% | 23.2% | ||
| Q1 25 | 10.2% | 28.1% | ||
| Q4 24 | 6.6% | 24.5% | ||
| Q3 24 | 7.0% | 25.8% | ||
| Q2 24 | 10.5% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 14.8% | 11.7% | ||
| Q3 25 | 107.5% | 16.4% | ||
| Q2 25 | 17.8% | 10.1% | ||
| Q1 25 | 15.2% | 14.2% | ||
| Q4 24 | 6.6% | 17.1% | ||
| Q3 24 | 12.1% | 11.5% | ||
| Q2 24 | 13.7% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.99 | $0.24 | ||
| Q3 25 | $5.95 | $0.35 | ||
| Q2 25 | $0.91 | $0.20 | ||
| Q1 25 | $0.72 | $0.27 | ||
| Q4 24 | $0.31 | $0.30 | ||
| Q3 24 | $0.49 | $0.21 | ||
| Q2 24 | $0.51 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | — |
| Total Assets | $2.0B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $96.5M | ||
| Q3 25 | $1.0B | $88.5M | ||
| Q2 25 | $976.2M | $79.3M | ||
| Q1 25 | $884.0M | $50.9M | ||
| Q4 24 | $785.8M | $93.5M | ||
| Q3 24 | $854.4M | $159.6M | ||
| Q2 24 | $888.2M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $462.6M | ||
| Q3 25 | $1.3B | $450.5M | ||
| Q2 25 | $977.0M | $473.6M | ||
| Q1 25 | $893.8M | $518.4M | ||
| Q4 24 | $824.5M | $576.6M | ||
| Q3 24 | $822.5M | $663.8M | ||
| Q2 24 | $766.9M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $2.5B | ||
| Q3 25 | $1.9B | $2.6B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.3B | $2.7B | ||
| Q3 24 | $1.2B | $2.8B | ||
| Q2 24 | $1.1B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.05× | ||
| 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 | $107.3M | — |
| Free Cash FlowOCF − Capex | $96.6M | — |
| FCF MarginFCF / Revenue | 34.1% | — |
| Capex IntensityCapex / Revenue | 3.8% | 13.7% |
| Cash ConversionOCF / Net Profit | 2.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | $369.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $107.3M | $108.6M | ||
| Q3 25 | $84.2M | $100.8M | ||
| Q2 25 | $90.7M | $129.6M | ||
| Q1 25 | $105.6M | $61.1M | ||
| Q4 24 | $83.3M | $104.8M | ||
| Q3 24 | $56.3M | $118.6M | ||
| Q2 24 | $62.4M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $96.6M | $75.1M | ||
| Q3 25 | $79.4M | $79.2M | ||
| Q2 25 | $89.5M | $108.9M | ||
| Q1 25 | $104.3M | $36.5M | ||
| Q4 24 | $81.4M | $80.5M | ||
| Q3 24 | $53.1M | $100.0M | ||
| Q2 24 | $56.8M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 34.1% | 35.3% | ||
| Q3 25 | 29.2% | 34.9% | ||
| Q2 25 | 35.5% | 50.2% | ||
| Q1 25 | 45.2% | 17.0% | ||
| Q4 24 | 38.8% | 37.8% | ||
| Q3 24 | 27.6% | 47.0% | ||
| Q2 24 | 31.9% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 3.8% | 15.7% | ||
| Q3 25 | 1.8% | 9.5% | ||
| Q2 25 | 0.5% | 9.5% | ||
| Q1 25 | 0.6% | 11.4% | ||
| Q4 24 | 0.9% | 11.4% | ||
| Q3 24 | 1.7% | 8.7% | ||
| Q2 24 | 3.1% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.56× | 4.37× | ||
| Q3 25 | 0.29× | 2.71× | ||
| Q2 25 | 2.02× | 5.90× | ||
| Q1 25 | 3.01× | 2.01× | ||
| Q4 24 | 5.99× | 2.88× | ||
| Q3 24 | 2.41× | 4.85× | ||
| Q2 24 | 2.56× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
