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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($282.9M vs $188.3M, roughly 1.5× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 14.8%, a 33.1% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs -21.9%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs -15.4%).
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.
DUOL vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $188.3M |
| Net Profit | $42.0M | $90.3M |
| Gross Margin | 72.8% | 79.5% |
| Operating Margin | 15.4% | 32.3% |
| Net Margin | 14.8% | 47.9% |
| Revenue YoY | 35.0% | -21.9% |
| Net Profit YoY | 201.7% | 1710.8% |
| EPS (diluted) | $0.99 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $271.7M | $215.3M | ||
| Q2 25 | $252.3M | $188.2M | ||
| Q1 25 | $230.7M | $197.2M | ||
| Q4 24 | $209.6M | $241.0M | ||
| Q3 24 | $192.6M | $225.5M | ||
| Q2 24 | $178.3M | $256.0M | ||
| Q1 24 | $167.6M | $263.4M |
| Q4 25 | $42.0M | $90.3M | ||
| Q3 25 | $292.2M | $91.1M | ||
| Q2 25 | $44.8M | $139.5M | ||
| Q1 25 | $35.1M | $-10.0M | ||
| Q4 24 | $13.9M | $-5.6M | ||
| Q3 24 | $23.4M | $-284.4M | ||
| Q2 24 | $24.4M | $-433.6M | ||
| Q1 24 | $27.0M | $-49.2M |
| Q4 25 | 72.8% | 79.5% | ||
| Q3 25 | 72.5% | 83.7% | ||
| Q2 25 | 72.4% | 81.3% | ||
| Q1 25 | 71.1% | 81.4% | ||
| Q4 24 | 71.9% | 79.8% | ||
| Q3 24 | 72.9% | 82.1% | ||
| Q2 24 | 73.4% | 84.5% | ||
| Q1 24 | 73.0% | 85.3% |
| Q4 25 | 15.4% | 32.3% | ||
| Q3 25 | 12.9% | 30.4% | ||
| Q2 25 | 13.2% | 5.7% | ||
| Q1 25 | 10.2% | -31.2% | ||
| Q4 24 | 6.6% | -69.2% | ||
| Q3 24 | 7.0% | -36.4% | ||
| Q2 24 | 10.5% | -90.8% | ||
| Q1 24 | 9.8% | -6.1% |
| Q4 25 | 14.8% | 47.9% | ||
| Q3 25 | 107.5% | 42.3% | ||
| Q2 25 | 17.8% | 74.1% | ||
| Q1 25 | 15.2% | -5.1% | ||
| Q4 24 | 6.6% | -2.3% | ||
| Q3 24 | 12.1% | -126.1% | ||
| Q2 24 | 13.7% | -169.4% | ||
| Q1 24 | 16.1% | -18.7% |
| Q4 25 | $0.99 | $2.78 | ||
| Q3 25 | $5.95 | $2.91 | ||
| Q2 25 | $0.91 | $4.50 | ||
| Q1 25 | $0.72 | $-0.39 | ||
| Q4 24 | $0.31 | $-0.01 | ||
| Q3 24 | $0.49 | $-9.39 | ||
| Q2 24 | $0.51 | $-14.35 | ||
| Q1 24 | $0.57 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $1.3B | $-171.5M |
| Total Assets | $2.0B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $226.6M | ||
| Q3 25 | $1.0B | $184.2M | ||
| Q2 25 | $976.2M | $267.4M | ||
| Q1 25 | $884.0M | $138.3M | ||
| Q4 24 | $785.8M | $146.9M | ||
| Q3 24 | $854.4M | $159.2M | ||
| Q2 24 | $888.2M | $236.9M | ||
| Q1 24 | $829.7M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $-171.5M | ||
| Q3 25 | $1.3B | $-260.5M | ||
| Q2 25 | $977.0M | $-351.7M | ||
| Q1 25 | $893.8M | $-496.8M | ||
| Q4 24 | $824.5M | $-488.2M | ||
| Q3 24 | $822.5M | $-497.6M | ||
| Q2 24 | $766.9M | $-218.3M | ||
| Q1 24 | $711.1M | $228.4M |
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.1B | $3.2B | ||
| Q1 24 | $1.1B | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $96.6M | — |
| FCF MarginFCF / Revenue | 34.1% | — |
| Capex IntensityCapex / Revenue | 3.8% | — |
| Cash ConversionOCF / Net Profit | 2.56× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $369.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | $26.2M | ||
| Q3 25 | $84.2M | $-60.6M | ||
| Q2 25 | $90.7M | $-25.6M | ||
| Q1 25 | $105.6M | $184.0K | ||
| Q4 24 | $83.3M | $-2.7M | ||
| Q3 24 | $56.3M | $19.5M | ||
| Q2 24 | $62.4M | $111.5M | ||
| Q1 24 | $83.5M | $135.4M |
| 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 24 | $82.1M | — |
| 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 24 | 49.0% | — |
| 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 24 | 0.8% | — |
| Q4 25 | 2.56× | 0.29× | ||
| Q3 25 | 0.29× | -0.66× | ||
| Q2 25 | 2.02× | -0.18× | ||
| Q1 25 | 3.01× | — | ||
| Q4 24 | 5.99× | — | ||
| Q3 24 | 2.41× | — | ||
| Q2 24 | 2.56× | — | ||
| Q1 24 | 3.10× | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
