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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($295.5M vs $153.1M, roughly 1.9× CPI Card Group Inc.). Duolingo, Inc. runs the higher net margin — 11.9% vs 4.8%, a 7.1% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (27.0% vs 22.3%). Duolingo, Inc. produced more free cash flow last quarter ($103.0M vs $35.2M). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (28.7% CAGR vs 16.9%).
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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
DUOL vs PMTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $295.5M | $153.1M |
| Net Profit | $35.1M | $7.3M |
| Gross Margin | 55.5% | 31.5% |
| Operating Margin | 8.0% | 12.0% |
| Net Margin | 11.9% | 4.8% |
| Revenue YoY | 27.0% | 22.3% |
| Net Profit YoY | 24.0% | 8.5% |
| EPS (diluted) | $0.72 | $0.62 |
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 | — | ||
| Q4 25 | $282.9M | $153.1M | ||
| Q3 25 | $271.7M | $138.0M | ||
| Q2 25 | $252.3M | $129.8M | ||
| Q1 25 | $230.7M | $122.8M | ||
| Q4 24 | $209.6M | $125.1M | ||
| Q3 24 | $192.6M | $124.8M | ||
| Q2 24 | $178.3M | $118.8M |
| Q1 26 | $35.1M | — | ||
| Q4 25 | $42.0M | $7.3M | ||
| Q3 25 | $292.2M | $2.3M | ||
| Q2 25 | $44.8M | $518.0K | ||
| Q1 25 | $35.1M | $4.8M | ||
| Q4 24 | $13.9M | $6.8M | ||
| Q3 24 | $23.4M | $1.3M | ||
| Q2 24 | $24.4M | $6.0M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 72.8% | 31.5% | ||
| Q3 25 | 72.5% | 29.7% | ||
| Q2 25 | 72.4% | 30.9% | ||
| Q1 25 | 71.1% | 33.2% | ||
| Q4 24 | 71.9% | 34.1% | ||
| Q3 24 | 72.9% | 35.8% | ||
| Q2 24 | 73.4% | 35.7% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 15.4% | 12.0% | ||
| Q3 25 | 12.9% | 9.4% | ||
| Q2 25 | 13.2% | 7.3% | ||
| Q1 25 | 10.2% | 11.5% | ||
| Q4 24 | 6.6% | 12.7% | ||
| Q3 24 | 7.0% | 14.3% | ||
| Q2 24 | 10.5% | 12.5% |
| Q1 26 | 11.9% | — | ||
| Q4 25 | 14.8% | 4.8% | ||
| Q3 25 | 107.5% | 1.7% | ||
| Q2 25 | 17.8% | 0.4% | ||
| Q1 25 | 15.2% | 3.9% | ||
| Q4 24 | 6.6% | 5.4% | ||
| Q3 24 | 12.1% | 1.0% | ||
| Q2 24 | 13.7% | 5.1% |
| Q1 26 | $0.72 | — | ||
| Q4 25 | $0.99 | $0.62 | ||
| Q3 25 | $5.95 | $0.19 | ||
| Q2 25 | $0.91 | $0.04 | ||
| Q1 25 | $0.72 | $0.40 | ||
| Q4 24 | $0.31 | $0.56 | ||
| Q3 24 | $0.49 | $0.11 | ||
| Q2 24 | $0.51 | $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 | $1.1B | $21.7M |
| Total DebtLower is stronger | — | $286.7M |
| Stockholders' EquityBook value | $1.3B | $-17.3M |
| Total Assets | $2.0B | $403.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.0B | $21.7M | ||
| Q3 25 | $1.0B | $16.0M | ||
| Q2 25 | $976.2M | $17.1M | ||
| Q1 25 | $884.0M | $31.5M | ||
| Q4 24 | $785.8M | $33.5M | ||
| Q3 24 | $854.4M | $14.7M | ||
| Q2 24 | $888.2M | $7.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $286.7M | ||
| Q3 25 | — | $308.4M | ||
| Q2 25 | — | $310.9M | ||
| Q1 25 | — | $280.7M | ||
| Q4 24 | — | $280.4M | ||
| Q3 24 | — | $280.2M | ||
| Q2 24 | — | $269.7M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $-17.3M | ||
| Q3 25 | $1.3B | $-25.7M | ||
| Q2 25 | $977.0M | $-29.0M | ||
| Q1 25 | $893.8M | $-29.7M | ||
| Q4 24 | $824.5M | $-35.6M | ||
| Q3 24 | $822.5M | $-42.8M | ||
| Q2 24 | $766.9M | $-44.6M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $403.2M | ||
| Q3 25 | $1.9B | $407.1M | ||
| Q2 25 | $1.5B | $399.8M | ||
| Q1 25 | $1.4B | $351.9M | ||
| Q4 24 | $1.3B | $349.7M | ||
| Q3 24 | $1.2B | $342.3M | ||
| Q2 24 | $1.1B | $321.4M |
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 | $39.6M |
| Free Cash FlowOCF − Capex | $103.0M | $35.2M |
| FCF MarginFCF / Revenue | 34.9% | 23.0% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 3.01× | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $368.4M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $105.6M | — | ||
| Q4 25 | $107.3M | $39.6M | ||
| Q3 25 | $84.2M | $10.0M | ||
| Q2 25 | $90.7M | $4.3M | ||
| Q1 25 | $105.6M | $5.6M | ||
| Q4 24 | $83.3M | $26.7M | ||
| Q3 24 | $56.3M | $12.5M | ||
| Q2 24 | $62.4M | $-4.8M |
| Q1 26 | $103.0M | — | ||
| Q4 25 | $96.6M | $35.2M | ||
| Q3 25 | $79.4M | $5.3M | ||
| Q2 25 | $89.5M | $533.0K | ||
| Q1 25 | $104.3M | $292.0K | ||
| Q4 24 | $81.4M | $21.6M | ||
| Q3 24 | $53.1M | $11.1M | ||
| Q2 24 | $56.8M | $-6.0M |
| Q1 26 | 34.9% | — | ||
| Q4 25 | 34.1% | 23.0% | ||
| Q3 25 | 29.2% | 3.8% | ||
| Q2 25 | 35.5% | 0.4% | ||
| Q1 25 | 45.2% | 0.2% | ||
| Q4 24 | 38.8% | 17.3% | ||
| Q3 24 | 27.6% | 8.9% | ||
| Q2 24 | 31.9% | -5.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | 2.9% | ||
| Q3 25 | 1.8% | 3.4% | ||
| Q2 25 | 0.5% | 2.9% | ||
| Q1 25 | 0.6% | 4.3% | ||
| Q4 24 | 0.9% | 4.0% | ||
| Q3 24 | 1.7% | 1.2% | ||
| Q2 24 | 3.1% | 1.0% |
| Q1 26 | 3.01× | — | ||
| Q4 25 | 2.56× | 5.39× | ||
| Q3 25 | 0.29× | 4.32× | ||
| Q2 25 | 2.02× | 8.39× | ||
| Q1 25 | 3.01× | 1.17× | ||
| Q4 24 | 5.99× | 3.94× | ||
| Q3 24 | 2.41× | 9.70× | ||
| Q2 24 | 2.56× | -0.79× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
