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Side-by-side financial comparison of Duolingo, Inc. (DUOL) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($295.9M vs $282.9M, roughly 1.0× Duolingo, Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 12.8%, a 2.0% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs -6.4%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs 4.2%).
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.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
DUOL vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $295.9M |
| Net Profit | $42.0M | $38.0M |
| Gross Margin | 72.8% | 64.6% |
| Operating Margin | 15.4% | 18.4% |
| Net Margin | 14.8% | 12.8% |
| Revenue YoY | 35.0% | -6.4% |
| Net Profit YoY | 201.7% | 68.3% |
| EPS (diluted) | $0.99 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $271.7M | — | ||
| Q2 25 | $252.3M | $317.0M | ||
| Q1 25 | $230.7M | $316.2M | ||
| Q4 24 | $209.6M | $297.0M | ||
| Q3 24 | $192.6M | $289.5M | ||
| Q2 24 | $178.3M | $306.1M | ||
| Q1 24 | $167.6M | $303.4M |
| Q4 25 | $42.0M | $38.0M | ||
| Q3 25 | $292.2M | — | ||
| Q2 25 | $44.8M | $-17.7M | ||
| Q1 25 | $35.1M | $22.6M | ||
| Q4 24 | $13.9M | $34.9M | ||
| Q3 24 | $23.4M | $33.6M | ||
| Q2 24 | $24.4M | $40.6M | ||
| Q1 24 | $27.0M | $49.1M |
| Q4 25 | 72.8% | 64.6% | ||
| Q3 25 | 72.5% | — | ||
| Q2 25 | 72.4% | 62.7% | ||
| Q1 25 | 71.1% | 67.9% | ||
| Q4 24 | 71.9% | 65.3% | ||
| Q3 24 | 72.9% | 63.2% | ||
| Q2 24 | 73.4% | 66.4% | ||
| Q1 24 | 73.0% | 67.4% |
| Q4 25 | 15.4% | 18.4% | ||
| Q3 25 | 12.9% | — | ||
| Q2 25 | 13.2% | -7.5% | ||
| Q1 25 | 10.2% | 12.2% | ||
| Q4 24 | 6.6% | 16.0% | ||
| Q3 24 | 7.0% | 13.8% | ||
| Q2 24 | 10.5% | 15.0% | ||
| Q1 24 | 9.8% | 22.1% |
| Q4 25 | 14.8% | 12.8% | ||
| Q3 25 | 107.5% | — | ||
| Q2 25 | 17.8% | -5.6% | ||
| Q1 25 | 15.2% | 7.1% | ||
| Q4 24 | 6.6% | 11.7% | ||
| Q3 24 | 12.1% | 11.6% | ||
| Q2 24 | 13.7% | 13.3% | ||
| Q1 24 | 16.1% | 16.2% |
| Q4 25 | $0.99 | $0.24 | ||
| Q3 25 | $5.95 | — | ||
| Q2 25 | $0.91 | $-0.11 | ||
| Q1 25 | $0.72 | $0.14 | ||
| Q4 24 | $0.31 | $0.22 | ||
| Q3 24 | $0.49 | $0.21 | ||
| Q2 24 | $0.51 | $0.26 | ||
| Q1 24 | $0.57 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | — | $260.0M |
| Stockholders' EquityBook value | $1.3B | $2.0B |
| Total Assets | $2.0B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $172.9M | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $976.2M | $162.2M | ||
| Q1 25 | $884.0M | $140.7M | ||
| Q4 24 | $785.8M | $177.5M | ||
| Q3 24 | $854.4M | $187.5M | ||
| Q2 24 | $888.2M | $152.9M | ||
| Q1 24 | $829.7M | $145.3M |
| Q4 25 | — | $260.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | — | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M | ||
| Q1 24 | — | $389.0M |
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $977.0M | $1.9B | ||
| Q1 25 | $893.8M | $2.0B | ||
| Q4 24 | $824.5M | $2.1B | ||
| Q3 24 | $822.5M | $2.1B | ||
| Q2 24 | $766.9M | $2.1B | ||
| Q1 24 | $711.1M | $2.0B |
| Q4 25 | $2.0B | $2.5B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.3B | $2.7B | ||
| Q3 24 | $1.2B | $2.7B | ||
| Q2 24 | $1.1B | $2.7B | ||
| Q1 24 | $1.1B | $2.7B |
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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% | — |
| Cash ConversionOCF / Net Profit | 2.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | $369.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | — | ||
| Q3 25 | $84.2M | — | ||
| Q2 25 | $90.7M | $98.2M | ||
| Q1 25 | $105.6M | $41.1M | ||
| Q4 24 | $83.3M | $84.3M | ||
| Q3 24 | $56.3M | $63.9M | ||
| Q2 24 | $62.4M | $75.5M | ||
| Q1 24 | $83.5M | $81.0M |
| Q4 25 | $96.6M | — | ||
| Q3 25 | $79.4M | — | ||
| Q2 25 | $89.5M | $93.3M | ||
| Q1 25 | $104.3M | $31.0M | ||
| Q4 24 | $81.4M | $77.5M | ||
| Q3 24 | $53.1M | $54.7M | ||
| Q2 24 | $56.8M | $57.5M | ||
| Q1 24 | $82.1M | $64.5M |
| Q4 25 | 34.1% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 35.5% | 29.4% | ||
| Q1 25 | 45.2% | 9.8% | ||
| Q4 24 | 38.8% | 26.1% | ||
| Q3 24 | 27.6% | 18.9% | ||
| Q2 24 | 31.9% | 18.8% | ||
| Q1 24 | 49.0% | 21.3% |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 0.5% | 1.5% | ||
| Q1 25 | 0.6% | 3.2% | ||
| Q4 24 | 0.9% | 2.3% | ||
| Q3 24 | 1.7% | 3.2% | ||
| Q2 24 | 3.1% | 5.9% | ||
| Q1 24 | 0.8% | 5.4% |
| Q4 25 | 2.56× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 3.01× | 1.82× | ||
| Q4 24 | 5.99× | 2.42× | ||
| Q3 24 | 2.41× | 1.90× | ||
| Q2 24 | 2.56× | 1.86× | ||
| Q1 24 | 3.10× | 1.65× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
