Duolingo, Inc. (DUOL)
NASDAQ: DUOL · Real-Time Price · USD
132.76
-1.30 (-0.97%)
Feb 2, 2026, 2:06 PM EST - Market open
Duolingo Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | 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 | Q4 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | 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 | Dec '20 Dec 31, 2020 |
| 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 | 161.7 | |
Revenue Growth (YoY) | 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 | 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 | 83.38 | 75.65 | 69.19 | 62.09 | 57.12 | 52.79 | 45.99 |
Gross Profit | 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 | 222.84 | 200.99 | 181.59 | 163.94 | 150.62 | 136.15 | 115.71 |
Selling, General & Admin | 292.45 | 278.54 | 260.48 | 245.51 | 230.67 | 222.82 | 215.89 | 207.57 | 201.83 | 193.98 | 189.45 | 184.82 | 175.36 | 171.96 | 148.71 | 137.76 | 121.33 | 96.33 | 90.26 | 78.7 |
Research & Development | 290.13 | 273.1 | 254.57 | 235.06 | 219.16 | 206.59 | 199.39 | 194.35 | 188.57 | 180.24 | 166.51 | 150.44 | 135.99 | 123.36 | 111.09 | 103.83 | 85.96 | 72.5 | 62.68 | 53.02 |
Operating Expenses | 582.58 | 551.64 | 515.05 | 480.57 | 449.82 | 429.41 | 415.27 | 401.93 | 390.39 | 374.21 | 355.96 | 335.26 | 311.35 | 295.33 | 259.8 | 241.59 | 207.28 | 168.83 | 152.93 | 131.72 |
Operating Income | 111.63 | 86.08 | 71.06 | 63.81 | 54.34 | 35.71 | 11.92 | -12.92 | -35.75 | -51.18 | -61.46 | -65.2 | -64.28 | -72.49 | -58.81 | -60.01 | -43.34 | -18.22 | -16.78 | -16.01 |
Interest & Investment Income | 44.33 | 43.79 | 43.08 | 42.7 | 41.28 | 38.66 | 35.49 | 31.09 | 26.08 | 19.72 | 12.84 | 7.24 | 2.98 | 0.72 | 0.05 | 0.02 | - | - | - | 0.23 |
Currency Exchange Gain (Loss) | -0.07 | 1 | -1.36 | -2.99 | 0.31 | -0.86 | -0.43 | 0.28 | -0.13 | -0.01 | -0.28 | -0.68 | -1.31 | -0.82 | -0.28 | 0.03 | - | - | - | - |
Other Non Operating Income (Expenses) | - | - | - | - | - | - | - | - | - | - | - | - | -0.04 | -0.26 | 0.04 | - | 0.23 | 0.36 | 0.03 | 0.07 |
EBT Excluding Unusual Items | 155.9 | 130.87 | 112.78 | 103.52 | 95.94 | 73.51 | 46.98 | 18.45 | -9.79 | -31.47 | -48.9 | -58.64 | -62.65 | -72.85 | -59 | -59.96 | -43.11 | -17.86 | -16.75 | -15.71 |
Merger & Restructuring Charges | -4.83 | -1.03 | -0.77 | -0.77 | -0.74 | -0.34 | - | - | -0.01 | -0.19 | -0.19 | - | -0.18 | - | - | - | - | - | - | - |
Gain (Loss) on Sale of Assets | - | - | - | - | -0.02 | -0.43 | -0.43 | -0.33 | -0.32 | 0.1 | 0.1 | - | - | - | - | - | - | - | - | - |
Asset Writedown | -0.24 | -0.24 | -0.24 | -0.24 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Other Unusual Items | -0.57 | -0.4 | -0.3 | -0.2 | -0.1 | -0.11 | -0.23 | -0.34 | -0.45 | -0.34 | -0.23 | - | - | -0.51 | 0.37 | - | -9.82 | -9.31 | -10.19 | - |
Pretax Income | 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 | -15.71 |
Income Tax Expense | -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 | 0.07 |
Net Income | 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 | -15.78 |
Net Income to Common | 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 | -15.78 |
Net Income Growth | 344.80% | 76.93% | 112.15% | 451.28% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Shares Outstanding (Basic) | 45 | 45 | 44 | 44 | 43 | 43 | 42 | 41 | 41 | 40 | 40 | 39 | 39 | 36 | 30 | 23 | 17 | 13 | 13 | 13 |
Shares Outstanding (Diluted) | 48 | 48 | 47 | 47 | 47 | 47 | 48 | 47 | 41 | 40 | 40 | 39 | 39 | 36 | 30 | 23 | 17 | 13 | 13 | 13 |
Shares Change (YoY) | 1.47% | 1.53% | -1.70% | 1.24% | 15.60% | 16.16% | 20.58% | 17.87% | 5.31% | 11.23% | 33.92% | 68.44% | 124.39% | 174.11% | 132.07% | 84.00% | - | - | - | - |
EPS (Basic) | 8.53 | 2.62 | 2.19 | 2.04 | 2.02 | 1.56 | 1.09 | 0.39 | -0.24 | -0.77 | -1.25 | -1.51 | -1.62 | -2.03 | -1.97 | -2.57 | -3.06 | -2.05 | -2.10 | -1.24 |
EPS (Diluted) | 8.04 | 2.46 | 2.04 | 1.88 | 1.83 | 1.42 | 0.95 | 0.35 | -0.24 | -0.78 | -1.25 | -1.51 | -1.62 | -2.03 | -1.97 | -2.57 | -3.06 | -2.06 | -2.10 | -1.24 |
EPS Growth | 338.81% | 73.11% | 114.70% | 437.14% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | 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 | 14.33 |
Free Cash Flow Per Share | 7.38 | 6.88 | 6.24 | 5.80 | 5.08 | 4.77 | 4.22 | 3.23 | 2.77 | 2.06 | 1.44 | 1.22 | 0.94 | 0.92 | 0.69 | 0.24 | 0.49 | 0.42 | 1.21 | 1.13 |
Gross Margin | 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% | 71.56% |
Operating Margin | 11.58% | 9.72% | 8.76% | 8.53% | 7.88% | 5.63% | 2.04% | -2.43% | -7.39% | -11.57% | -15.21% | -17.64% | -18.98% | -23.67% | -21.26% | -23.93% | -19.18% | -8.77% | -8.88% | -9.90% |
Profit Margin | 40.03% | 13.24% | 11.93% | 11.84% | 12.59% | 10.44% | 7.82% | 3.02% | -2.06% | -7.06% | -12.38% | -16.12% | -18.65% | -24.06% | -21.26% | -23.98% | -23.46% | -13.11% | -14.30% | -9.76% |
Free Cash Flow Margin | 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% | 8.86% |
EBITDA | 125.88 | 99.65 | 83.43 | 74.66 | 63.58 | 43.73 | 19.33 | -5.83 | -29.25 | -44.85 | -55.6 | -60.33 | -60.31 | -69.45 | -56.46 | -57.28 | -41.41 | -16.37 | -15.04 | -14.39 |
EBITDA Margin | 13.05% | 11.26% | 10.29% | 9.98% | 9.22% | 6.89% | 3.32% | -1.10% | -6.04% | -10.14% | -13.76% | -16.33% | -17.81% | -22.68% | -20.41% | -22.84% | -18.32% | -7.88% | -7.96% | -8.90% |
D&A For EBITDA | 14.24 | 13.57 | 12.37 | 10.85 | 9.24 | 8.02 | 7.41 | 7.1 | 6.5 | 6.32 | 5.86 | 4.87 | 3.97 | 3.04 | 2.36 | 2.73 | 1.94 | 1.84 | 1.74 | 1.62 |
EBIT | 111.63 | 86.08 | 71.06 | 63.81 | 54.34 | 35.71 | 11.92 | -12.92 | -35.75 | -51.18 | -61.46 | -65.2 | -64.28 | -72.49 | -58.81 | -60.01 | -43.34 | -18.22 | -16.78 | -16.01 |
EBIT Margin | 11.58% | 9.72% | 8.76% | 8.53% | 7.88% | 5.63% | 2.04% | -2.43% | -7.39% | -11.57% | -15.21% | -17.64% | -18.98% | -23.67% | -21.26% | -23.93% | -19.18% | -8.77% | -8.88% | -9.90% |
Effective Tax Rate | - | 9.30% | 13.20% | 13.42% | 8.73% | 8.81% | 1.56% | 9.62% | - | - | - | - | - | - | - | - | - | - | - | - |
Advertising Expenses | - | - | - | 62.37 | - | - | - | 52.97 | - | - | - | 48.11 | - | - | - | 42.96 | - | - | - | 27.35 |
Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.