Duolingo, Inc. (DUOL)
NASDAQ: DUOL · Real-Time Price · USD
96.19
-2.38 (-2.41%)
At close: Apr 1, 2026, 4:00 PM EDT
94.97
-1.22 (-1.27%)
Pre-market: Apr 2, 2026, 7:07 AM EDT
Duolingo Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
| 1,038 | 964.27 | 885.15 | 811.21 | 748.02 | 689.46 | 634.49 | 583 | 531.11 | 483.95 | 442.39 | 403.94 | 369.5 | 338.69 | 306.22 | 276.63 | 250.77 | 226.03 | 207.74 | 188.94 | |
Revenue Growth (YoY) | 38.71% | 39.86% | 39.51% | 39.15% | 40.84% | 42.47% | 43.42% | 44.33% | 43.74% | 42.89% | 44.47% | 46.02% | 47.34% | 49.84% | 47.41% | 46.41% | 55.09% | 219.43% | - | - |
Cost of Revenue | 288.13 | 270.06 | 247.44 | 225.1 | 203.65 | 185.29 | 169.37 | 155.8 | 142.11 | 129.3 | 119.35 | 109.43 | 99.43 | 91.61 | 83.39 | 75.66 | 69.19 | 62.1 | 57.12 | 52.79 |
Gross Profit | 749.46 | 694.21 | 637.72 | 586.11 | 544.38 | 504.17 | 465.12 | 427.2 | 389 | 354.64 | 323.04 | 294.5 | 270.06 | 247.07 | 222.83 | 200.98 | 181.59 | 163.93 | 150.62 | 136.15 |
Selling, General & Admin | 307.56 | 295.05 | 279.97 | 261.55 | 246.49 | 231.5 | 223.27 | 216.11 | 207.91 | 202.28 | 194.5 | 189.86 | 184.82 | 175.54 | 172.46 | 148.33 | 137.76 | 127.84 | 102.34 | 97.15 |
Research & Development | 306.32 | 293.16 | 273.33 | 254.81 | 235.3 | 219.16 | 206.59 | 199.39 | 194.35 | 188.57 | 180.24 | 166.51 | 150.44 | 135.99 | 123.36 | 111.09 | 103.83 | 89.26 | 75.81 | 65.98 |
Total Operating Expenses | 613.89 | 588.22 | 553.3 | 516.36 | 481.78 | 450.66 | 429.86 | 415.5 | 402.26 | 390.85 | 374.74 | 356.37 | 335.26 | 311.53 | 295.82 | 259.42 | 241.59 | 217.09 | 178.15 | 163.12 |
Operating Income | 135.57 | 106 | 84.41 | 69.75 | 62.6 | 53.51 | 35.26 | 11.7 | -13.26 | -36.21 | -51.7 | -61.87 | -65.2 | -64.46 | -73 | -58.44 | -60.01 | -53.16 | -27.53 | -26.97 |
Interest Income | 45.23 | 44.33 | 43.79 | 43.08 | 42.7 | 41.28 | 38.66 | 35.49 | 31.09 | 26.08 | 19.72 | 12.84 | 7.24 | 2.97 | 0.71 | 0.05 | 0.02 | - | - | - |
Other Non-Operating Income (Expense) | 1.61 | -0.07 | 1 | -1.36 | -2.99 | 0.3 | -1.3 | -0.86 | -0.06 | -3.41 | -2.87 | -3.14 | -3.64 | -1.35 | -1.08 | -0.24 | 0.03 | -0 | 0.13 | -0.2 |
Total Non-Operating Income (Expense) | 46.84 | 44.26 | 44.79 | 41.72 | 39.71 | 41.58 | 37.37 | 34.63 | 31.04 | 22.67 | 16.84 | 9.7 | 3.6 | 1.62 | -0.37 | -0.2 | 0.04 | -0 | 0.13 | -0.2 |
Pretax Income | 182.41 | 150.26 | 129.2 | 111.47 | 102.31 | 95.09 | 72.63 | 46.33 | 17.78 | -10.57 | -31.89 | -49.21 | -58.64 | -62.83 | -73.36 | -58.63 | -59.96 | -52.93 | -27.17 | -26.94 |
Provision for Income Taxes | -231.66 | -235.76 | 12.02 | 14.71 | 13.73 | 8.3 | 6.4 | 0.72 | 1.71 | -0.59 | -0.66 | 0.79 | 0.94 | 0.33 | 0.33 | 0.19 | 0.18 | 0.09 | 0.06 | 0.07 |
Net Income | 414.07 | 386.02 | 117.18 | 96.75 | 88.57 | 86.78 | 66.23 | 45.61 | 16.07 | -9.98 | -31.23 | -50 | -59.57 | -63.16 | -73.69 | -58.82 | -60.14 | -53.03 | -27.23 | -27.02 |
Net Income to Common | 414.07 | 386.02 | 117.18 | 96.75 | 88.57 | 86.78 | 66.23 | 45.61 | 16.07 | -9.98 | -31.23 | -50 | -59.57 | -63.16 | -73.69 | -58.82 | -60.14 | -53.03 | -27.23 | -27.02 |
Net Income Growth | 367.48% | 344.80% | 76.93% | 112.15% | 451.28% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Shares Outstanding (Basic) | 46 | 45 | 45 | 44 | 44 | 43 | 42 | 42 | 41 | 41 | 40 | 40 | 39 | 39 | 36 | 30 | 23 | 17 | 13 | 13 |
Shares Outstanding (Diluted) | 48 | 48 | 48 | 48 | 47 | 47 | 47 | 47 | 45 | 44 | 42 | 40 | 39 | 39 | 36 | 30 | 23 | 17 | 13 | 14 |
Shares Change (YoY) | 2.45% | 1.35% | 1.28% | 1.11% | 4.24% | 8.73% | 12.78% | 17.58% | 14.83% | 12.30% | 15.25% | 34.11% | 68.75% | 124.96% | 178.70% | 116.08% | 71.14% | 39.71% | - | - |
EPS (Basic) | 9.00 | 8.43 | 2.60 | 2.18 | 2.03 | 2.01 | 1.55 | 1.08 | 0.39 | -0.25 | -0.78 | -1.25 | -1.50 | -1.61 | -2.13 | -1.76 | -2.49 | -2.85 | -2.12 | -2.11 |
EPS (Diluted) | 8.52 | 7.89 | 2.43 | 2.03 | 1.88 | 1.83 | 1.40 | 0.97 | 0.34 | -0.27 | -0.79 | -1.25 | -1.50 | -1.61 | -2.13 | -1.76 | -2.49 | -2.85 | -2.12 | -2.11 |
EPS Growth | 353.19% | 331.15% | 73.57% | 109.28% | 452.94% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Shares Outstanding | 46.63 | 46.11 | 45.79 | 45.42 | 44.94 | 43.94 | 43.5 | 43.06 | 42.53 | 41.97 | 41.53 | 41.02 | 40.36 | 40.09 | 39.59 | 39.08 | 38.27 | 37.45 | 13.27 | 13.12 |
Free Cash Flow | 369.73 | 354.56 | 328.27 | 295.62 | 273.4 | 240.28 | 224.09 | 203.6 | 150.42 | 113.47 | 83.26 | 57.72 | 48.09 | 36.69 | 33.43 | 20.6 | 5.58 | 8.54 | 5.59 | 15.5 |
Free Cash Flow Growth | 35.23% | 47.56% | 46.49% | 45.20% | 81.75% | 111.76% | 169.14% | 252.76% | 212.77% | 209.29% | 149.03% | 180.18% | 761.28% | 329.74% | 497.66% | 32.93% | -61.04% | - | - | - |
Free Cash Flow Per Share | 7.64 | 7.37 | 6.86 | 6.22 | 5.79 | 5.06 | 4.74 | 4.33 | 3.32 | 2.60 | 1.99 | 1.44 | 1.22 | 0.94 | 0.92 | 0.69 | 0.24 | 0.49 | 0.43 | 1.12 |
Gross Margin | 72.23% | 71.99% | 72.05% | 72.25% | 72.78% | 73.13% | 73.31% | 73.28% | 73.24% | 73.28% | 73.02% | 72.91% | 73.09% | 72.95% | 72.77% | 72.65% | 72.41% | 72.53% | 72.50% | 72.06% |
Operating Margin | 13.07% | 10.99% | 9.54% | 8.60% | 8.37% | 7.76% | 5.56% | 2.01% | -2.50% | -7.48% | -11.69% | -15.32% | -17.64% | -19.03% | -23.84% | -21.13% | -23.93% | -23.52% | -13.25% | -14.27% |
Profit Margin | 39.91% | 40.03% | 13.24% | 11.93% | 11.84% | 12.59% | 10.44% | 7.82% | 3.03% | -2.06% | -7.06% | -12.38% | -16.12% | -18.65% | -24.06% | -21.26% | -23.98% | -23.46% | -13.11% | -14.30% |
FCF Margin | 35.63% | 36.77% | 37.09% | 36.44% | 36.55% | 34.85% | 35.32% | 34.92% | 28.32% | 23.45% | 18.82% | 14.29% | 13.02% | 10.83% | 10.92% | 7.45% | 2.23% | 3.78% | 2.69% | 8.20% |
EBITDA | 149.96 | 120.24 | 97.98 | 82.12 | 73.45 | 62.74 | 43.28 | 19.11 | -6.16 | -29.71 | -45.38 | -56.01 | -60.33 | -60.28 | -69.56 | -55.54 | -57.28 | -50.59 | -25.06 | -24.51 |
EBITDA Margin | 14.45% | 12.47% | 11.07% | 10.12% | 9.82% | 9.10% | 6.82% | 3.28% | -1.16% | -6.14% | -10.26% | -13.87% | -16.33% | -17.80% | -22.72% | -20.08% | -22.84% | -22.38% | -12.06% | -12.97% |
EBIT | 135.57 | 106 | 84.41 | 69.75 | 62.6 | 53.51 | 35.26 | 11.7 | -13.26 | -36.21 | -51.7 | -61.87 | -65.2 | -64.46 | -73 | -58.44 | -60.01 | -53.16 | -27.53 | -26.97 |
EBIT Margin | 13.07% | 10.99% | 9.54% | 8.60% | 8.37% | 7.76% | 5.56% | 2.01% | -2.50% | -7.48% | -11.69% | -15.32% | -17.64% | -19.03% | -23.84% | -21.13% | -23.93% | -23.52% | -13.25% | -14.27% |
Effective Tax Rate | -127.00% | -156.90% | 9.30% | 13.20% | 13.42% | 8.73% | 8.81% | 1.56% | 9.62% | 5.58% | 2.08% | -1.61% | -1.60% | -0.53% | -0.45% | -0.32% | -0.30% | -0.17% | -0.24% | -0.27% |
Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.