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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($295.5M vs $207.0M, roughly 1.4× ONE Group Hospitality, Inc.). Duolingo, Inc. runs the higher net margin — 11.9% vs -3.1%, a 15.0% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (27.0% vs -6.7%). Duolingo, Inc. produced more free cash flow last quarter ($103.0M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 28.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
DUOL vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $295.5M | $207.0M |
| Net Profit | $35.1M | $-6.4M |
| Gross Margin | 55.5% | — |
| Operating Margin | 8.0% | 2.2% |
| Net Margin | 11.9% | -3.1% |
| Revenue YoY | 27.0% | -6.7% |
| Net Profit YoY | 24.0% | -531.8% |
| EPS (diluted) | $0.72 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $271.7M | $180.2M | ||
| Q2 25 | $252.3M | $207.4M | ||
| Q1 25 | $230.7M | $211.1M | ||
| Q4 24 | $209.6M | $221.9M | ||
| Q3 24 | $192.6M | $194.0M | ||
| Q2 24 | $178.3M | $172.5M |
| Q1 26 | $35.1M | — | ||
| Q4 25 | $42.0M | $-6.4M | ||
| Q3 25 | $292.2M | $-76.7M | ||
| Q2 25 | $44.8M | $-10.1M | ||
| Q1 25 | $35.1M | $975.0K | ||
| Q4 24 | $13.9M | $1.5M | ||
| Q3 24 | $23.4M | $-9.3M | ||
| Q2 24 | $24.4M | $-7.3M |
| Q1 26 | 55.5% | — | ||
| 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 | 8.0% | — | ||
| Q4 25 | 15.4% | 2.2% | ||
| Q3 25 | 12.9% | -4.4% | ||
| Q2 25 | 13.2% | 0.3% | ||
| Q1 25 | 10.2% | 5.1% | ||
| Q4 24 | 6.6% | 5.5% | ||
| Q3 24 | 7.0% | -1.9% | ||
| Q2 24 | 10.5% | 0.6% |
| Q1 26 | 11.9% | — | ||
| Q4 25 | 14.8% | -3.1% | ||
| Q3 25 | 107.5% | -42.6% | ||
| Q2 25 | 17.8% | -4.9% | ||
| Q1 25 | 15.2% | 0.5% | ||
| Q4 24 | 6.6% | 0.7% | ||
| Q3 24 | 12.1% | -4.8% | ||
| Q2 24 | 13.7% | -4.3% |
| Q1 26 | $0.72 | — | ||
| Q4 25 | $0.99 | $-0.50 | ||
| Q3 25 | $5.95 | $-2.75 | ||
| Q2 25 | $0.91 | $-0.59 | ||
| Q1 25 | $0.72 | $-0.21 | ||
| Q4 24 | $0.31 | $-0.18 | ||
| Q3 24 | $0.49 | $-0.53 | ||
| Q2 24 | $0.51 | $-0.38 |
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 | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $1.3B | $-75.8M |
| Total Assets | $2.0B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.0B | $4.2M | ||
| Q3 25 | $1.0B | $5.5M | ||
| Q2 25 | $976.2M | $4.7M | ||
| Q1 25 | $884.0M | $21.4M | ||
| Q4 24 | $785.8M | $27.6M | ||
| Q3 24 | $854.4M | $28.2M | ||
| Q2 24 | $888.2M | $32.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $-75.8M | ||
| Q3 25 | $1.3B | $-61.5M | ||
| Q2 25 | $977.0M | $23.0M | ||
| Q1 25 | $893.8M | $40.5M | ||
| Q4 24 | $824.5M | $45.9M | ||
| Q3 24 | $822.5M | $51.4M | ||
| Q2 24 | $766.9M | $68.1M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $884.2M | ||
| Q3 25 | $1.9B | $879.5M | ||
| Q2 25 | $1.5B | $935.7M | ||
| Q1 25 | $1.4B | $956.0M | ||
| Q4 24 | $1.3B | $960.1M | ||
| Q3 24 | $1.2B | $953.5M | ||
| Q2 24 | $1.1B | $945.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $103.0M | $-329.0K |
| FCF MarginFCF / Revenue | 34.9% | -0.2% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | 3.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | $368.4M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $105.6M | — | ||
| Q4 25 | $107.3M | $13.1M | ||
| Q3 25 | $84.2M | $5.9M | ||
| Q2 25 | $90.7M | $2.8M | ||
| Q1 25 | $105.6M | $8.5M | ||
| Q4 24 | $83.3M | $18.5M | ||
| Q3 24 | $56.3M | $19.1M | ||
| Q2 24 | $62.4M | $-3.8M |
| Q1 26 | $103.0M | — | ||
| Q4 25 | $96.6M | $-329.0K | ||
| Q3 25 | $79.4M | $-6.1M | ||
| Q2 25 | $89.5M | $-15.0M | ||
| Q1 25 | $104.3M | $-5.8M | ||
| Q4 24 | $81.4M | $733.0K | ||
| Q3 24 | $53.1M | $287.0K | ||
| Q2 24 | $56.8M | $-23.0M |
| Q1 26 | 34.9% | — | ||
| Q4 25 | 34.1% | -0.2% | ||
| Q3 25 | 29.2% | -3.4% | ||
| Q2 25 | 35.5% | -7.2% | ||
| Q1 25 | 45.2% | -2.7% | ||
| Q4 24 | 38.8% | 0.3% | ||
| Q3 24 | 27.6% | 0.1% | ||
| Q2 24 | 31.9% | -13.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | 6.5% | ||
| Q3 25 | 1.8% | 6.7% | ||
| Q2 25 | 0.5% | 8.6% | ||
| Q1 25 | 0.6% | 6.8% | ||
| Q4 24 | 0.9% | 8.0% | ||
| Q3 24 | 1.7% | 9.7% | ||
| Q2 24 | 3.1% | 11.1% |
| Q1 26 | 3.01× | — | ||
| Q4 25 | 2.56× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 3.01× | 8.76× | ||
| Q4 24 | 5.99× | 12.54× | ||
| Q3 24 | 2.41× | — | ||
| Q2 24 | 2.56× | — |
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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
