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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($282.9M vs $186.9M, roughly 1.5× Limbach Holdings, Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 6.6%, a 8.2% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 30.1%). Duolingo, Inc. produced more free cash flow last quarter ($96.6M vs $27.9M). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 25.3%).
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.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
DUOL vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $186.9M |
| Net Profit | $42.0M | $12.3M |
| Gross Margin | 72.8% | 25.7% |
| Operating Margin | 15.4% | 9.4% |
| Net Margin | 14.8% | 6.6% |
| Revenue YoY | 35.0% | 30.1% |
| Net Profit YoY | 201.7% | 25.0% |
| EPS (diluted) | $0.99 | $1.01 |
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 | $282.9M | $186.9M | ||
| Q3 25 | $271.7M | $184.6M | ||
| Q2 25 | $252.3M | $142.2M | ||
| Q1 25 | $230.7M | $133.1M | ||
| Q4 24 | $209.6M | $143.7M | ||
| Q3 24 | $192.6M | $133.9M | ||
| Q2 24 | $178.3M | $122.2M | ||
| Q1 24 | $167.6M | $119.0M |
| Q4 25 | $42.0M | $12.3M | ||
| Q3 25 | $292.2M | $8.8M | ||
| Q2 25 | $44.8M | $7.8M | ||
| Q1 25 | $35.1M | $10.2M | ||
| Q4 24 | $13.9M | $9.8M | ||
| Q3 24 | $23.4M | $7.5M | ||
| Q2 24 | $24.4M | $6.0M | ||
| Q1 24 | $27.0M | $7.6M |
| Q4 25 | 72.8% | 25.7% | ||
| Q3 25 | 72.5% | 24.2% | ||
| Q2 25 | 72.4% | 28.0% | ||
| Q1 25 | 71.1% | 27.6% | ||
| Q4 24 | 71.9% | 30.3% | ||
| Q3 24 | 72.9% | 27.0% | ||
| Q2 24 | 73.4% | 27.4% | ||
| Q1 24 | 73.0% | 26.1% |
| Q4 25 | 15.4% | 9.4% | ||
| Q3 25 | 12.9% | 7.2% | ||
| Q2 25 | 13.2% | 7.5% | ||
| Q1 25 | 10.2% | 5.9% | ||
| Q4 24 | 6.6% | 9.1% | ||
| Q3 24 | 7.0% | 8.1% | ||
| Q2 24 | 10.5% | 6.7% | ||
| Q1 24 | 9.8% | 5.5% |
| Q4 25 | 14.8% | 6.6% | ||
| Q3 25 | 107.5% | 4.8% | ||
| Q2 25 | 17.8% | 5.5% | ||
| Q1 25 | 15.2% | 7.7% | ||
| Q4 24 | 6.6% | 6.9% | ||
| Q3 24 | 12.1% | 5.6% | ||
| Q2 24 | 13.7% | 4.9% | ||
| Q1 24 | 16.1% | 6.4% |
| Q4 25 | $0.99 | $1.01 | ||
| Q3 25 | $5.95 | $0.73 | ||
| Q2 25 | $0.91 | $0.64 | ||
| Q1 25 | $0.72 | $0.85 | ||
| Q4 24 | $0.31 | $0.81 | ||
| Q3 24 | $0.49 | $0.62 | ||
| Q2 24 | $0.51 | $0.50 | ||
| Q1 24 | $0.57 | $0.64 |
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 | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $1.3B | $195.7M |
| Total Assets | $2.0B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $11.3M | ||
| Q3 25 | $1.0B | $9.8M | ||
| Q2 25 | $976.2M | $38.9M | ||
| Q1 25 | $884.0M | $38.1M | ||
| Q4 24 | $785.8M | $44.9M | ||
| Q3 24 | $854.4M | $51.2M | ||
| Q2 24 | $888.2M | $59.5M | ||
| Q1 24 | $829.7M | $48.2M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $1.3B | $195.7M | ||
| Q3 25 | $1.3B | $181.6M | ||
| Q2 25 | $977.0M | $170.5M | ||
| Q1 25 | $893.8M | $161.1M | ||
| Q4 24 | $824.5M | $153.5M | ||
| Q3 24 | $822.5M | $142.2M | ||
| Q2 24 | $766.9M | $133.0M | ||
| Q1 24 | $711.1M | $125.5M |
| Q4 25 | $2.0B | $381.1M | ||
| Q3 25 | $1.9B | $409.1M | ||
| Q2 25 | $1.5B | $343.0M | ||
| Q1 25 | $1.4B | $336.4M | ||
| Q4 24 | $1.3B | $352.1M | ||
| Q3 24 | $1.2B | $324.4M | ||
| Q2 24 | $1.1B | $303.9M | ||
| Q1 24 | $1.1B | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | $96.6M | $27.9M |
| FCF MarginFCF / Revenue | 34.1% | 14.9% |
| Capex IntensityCapex / Revenue | 3.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.56× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $369.7M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | $28.1M | ||
| Q3 25 | $84.2M | $13.3M | ||
| Q2 25 | $90.7M | $2.0M | ||
| Q1 25 | $105.6M | $2.2M | ||
| Q4 24 | $83.3M | $19.3M | ||
| Q3 24 | $56.3M | $4.9M | ||
| Q2 24 | $62.4M | $16.5M | ||
| Q1 24 | $83.5M | $-3.9M |
| Q4 25 | $96.6M | $27.9M | ||
| Q3 25 | $79.4M | $12.8M | ||
| Q2 25 | $89.5M | $1.2M | ||
| Q1 25 | $104.3M | $11.0K | ||
| Q4 24 | $81.4M | $18.0M | ||
| Q3 24 | $53.1M | $4.6M | ||
| Q2 24 | $56.8M | $13.2M | ||
| Q1 24 | $82.1M | $-6.5M |
| Q4 25 | 34.1% | 14.9% | ||
| Q3 25 | 29.2% | 7.0% | ||
| Q2 25 | 35.5% | 0.8% | ||
| Q1 25 | 45.2% | 0.0% | ||
| Q4 24 | 38.8% | 12.5% | ||
| Q3 24 | 27.6% | 3.4% | ||
| Q2 24 | 31.9% | 10.8% | ||
| Q1 24 | 49.0% | -5.5% |
| Q4 25 | 3.8% | 0.1% | ||
| Q3 25 | 1.8% | 0.3% | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 0.9% | 0.9% | ||
| Q3 24 | 1.7% | 0.3% | ||
| Q2 24 | 3.1% | 2.7% | ||
| Q1 24 | 0.8% | 2.1% |
| Q4 25 | 2.56× | 2.29× | ||
| Q3 25 | 0.29× | 1.52× | ||
| Q2 25 | 2.02× | 0.26× | ||
| Q1 25 | 3.01× | 0.22× | ||
| Q4 24 | 5.99× | 1.96× | ||
| Q3 24 | 2.41× | 0.66× | ||
| Q2 24 | 2.56× | 2.77× | ||
| Q1 24 | 3.10× | -0.52× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
