Duolingo, Inc. (DUOL)
NASDAQ: DUOL · Real-Time Price · USD
154.00
-2.67 (-1.70%)
Nov 11, 2026, 11:13 AM 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 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
| 309.01 | 298.45 | 291.97 | 282.87 | 271.71 | 252.27 | 230.74 | 209.55 | 192.59 | 178.33 | 167.55 | 150.99 | 137.62 | 126.84 | 115.66 | 103.82 | 96.07 | 88.39 | 81.22 | 73.01 | |
Revenue Growth (YoY) | 13.73% | 18.31% | 26.53% | 34.99% | 41.08% | 41.46% | 37.71% | 38.79% | 39.94% | 40.59% | 44.87% | 45.42% | 43.26% | 43.51% | 42.41% | 42.20% | 51.06% | 50.31% | 46.71% | 51.27% |
Cost of Revenue | 83.88 | 81.71 | 78.87 | 77 | 74.8 | 69.68 | 66.65 | 58.93 | 52.18 | 47.35 | 45.19 | 40.57 | 36.25 | 33.79 | 31.49 | 27.77 | 26.3 | 23.87 | 21.49 | 19.95 |
Gross Profit | 225.13 | 216.74 | 213.1 | 205.87 | 196.91 | 182.58 | 164.1 | 150.63 | 140.41 | 130.98 | 122.36 | 110.41 | 101.37 | 93.05 | 84.17 | 76.05 | 69.76 | 64.52 | 59.73 | 53.06 |
Selling, General & Admin | 91.69 | 90.25 | 85.25 | 82.45 | 76.55 | 74.86 | 70.01 | 70.21 | 63.46 | 56.79 | 55.05 | 55.36 | 55.62 | 49.86 | 46.73 | 49.62 | 47.77 | 45.33 | 41.8 | 40.46 |
Research & Development | 105.44 | 91.62 | 82.97 | 79.56 | 78.93 | 73.67 | 70.39 | 66.16 | 62.88 | 55.15 | 50.88 | 50.26 | 50.31 | 47.95 | 45.84 | 44.47 | 41.98 | 34.22 | 29.78 | 30.02 |
Other Operating Expenses | 1.63 | - | - | - | 1.8 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses | 198.76 | 181.87 | 168.22 | 162.01 | 157.28 | 148.53 | 140.4 | 136.37 | 126.34 | 111.94 | 105.92 | 105.62 | 105.93 | 97.8 | 92.58 | 94.09 | 89.75 | 79.55 | 71.58 | 70.48 |
Operating Income | 26.37 | 34.87 | 44.87 | 43.86 | 39.63 | 34.05 | 23.69 | 14.26 | 14.07 | 19.04 | 16.44 | 4.8 | -4.56 | -4.75 | -8.41 | -18.03 | -19.99 | -15.03 | -11.85 | -17.42 |
Interest & Investment Income | 12.43 | 11.83 | 11.81 | 11.6 | 11.79 | 11.43 | 10.42 | 10.7 | 11.25 | 10.72 | 10.03 | 9.28 | 8.63 | 7.54 | 5.64 | 4.27 | 2.26 | 0.67 | 0.03 | 0.02 |
Currency Exchange Gain (Loss) | -1.06 | -0.41 | -0.79 | -0.55 | -0.5 | 1.66 | 1 | -2.23 | 0.57 | -0.71 | -0.62 | 1.07 | -0.61 | -0.27 | 0.08 | 0.67 | -0.49 | -0.54 | -0.31 | 0.03 |
Other Non Operating Income (Expenses) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.04 |
EBT Excluding Unusual Items | 37.75 | 46.29 | 55.9 | 54.91 | 50.92 | 47.14 | 35.11 | 22.73 | 25.89 | 29.05 | 25.85 | 15.15 | 3.46 | 2.52 | -2.69 | -13.09 | -18.22 | -14.9 | -12.13 | -17.41 |
Merger & Restructuring Charges | -0.26 | - | - | -0.05 | -4.2 | -0.59 | - | -0.04 | -0.4 | -0.34 | - | - | - | - | - | -0.01 | -0.18 | - | - | - |
Gain (Loss) on Sale of Assets | - | - | - | - | - | - | - | - | - | - | - | -0.02 | -0.42 | - | 0.1 | - | - | - | - | - |
Asset Writedown | -1.56 | -0.58 | - | - | - | - | - | -0.24 | - | - | - | - | - | - | - | - | - | - | - | - |
Other Unusual Items | -0.37 | -0.35 | -0.35 | -0.35 | -0.27 | -0.1 | -0.1 | -0.1 | -0.1 | - | - | - | -0.11 | -0.11 | -0.11 | -0.11 | - | - | - | - |
Pretax Income | 35.57 | 45.37 | 55.55 | 54.5 | 46.45 | 46.45 | 35.01 | 22.35 | 25.39 | 28.71 | 25.85 | 15.13 | 2.93 | 2.41 | -2.7 | -13.21 | -18.39 | -14.9 | -12.13 | -17.41 |
Income Tax Expense | 8.4 | 12.21 | 12.09 | 12.55 | -245.75 | 1.67 | -0.13 | 8.45 | 2.03 | 4.36 | -1.11 | 3.02 | 0.13 | -1.32 | -0.12 | 0.72 | 0.05 | 0.14 | 0.03 | 0.11 |
Net Income | 27.17 | 33.16 | 43.46 | 41.95 | 292.2 | 44.78 | 35.14 | 13.91 | 23.36 | 24.35 | 26.96 | 12.12 | 2.81 | 3.73 | -2.58 | -13.93 | -18.45 | -15.05 | -12.15 | -17.52 |
Net Income to Common | 27.17 | 33.16 | 43.46 | 41.95 | 292.2 | 44.78 | 35.14 | 13.91 | 23.36 | 24.35 | 26.96 | 12.12 | 2.81 | 3.73 | -2.58 | -13.93 | -18.45 | -15.05 | -12.15 | -17.52 |
Net Income Growth (YoY) | -90.70% | -25.96% | 23.69% | 201.68% | 1150.84% | 83.90% | 30.34% | 14.77% | 732.21% | 553.72% | - | - | - | - | - | - | - | - | - | - |
Shares Outstanding (Basic) | 47 | 47 | 47 | 46 | 46 | 46 | 45 | 44 | 44 | 43 | 43 | 42 | 42 | 41 | 41 | 40 | 40 | 39 | 39 | 38 |
Shares Outstanding (Diluted) | 50 | 50 | 49 | 47 | 49 | 49 | 48 | 46 | 48 | 48 | 47 | 47 | 47 | 47 | 41 | 40 | 40 | 39 | 39 | 38 |
Shares Change (YoY) | 1.60% | 2.10% | 1.01% | 2.34% | 2.45% | 2.57% | 2.42% | -1.60% | 2.18% | 1.92% | 16.58% | 17.09% | 18.09% | 19.35% | 5.25% | 4.52% | 34.61% | 198.16% | 198.78% | 181.51% |
EPS (Basic) | 0.58 | 0.71 | 0.93 | 0.90 | 6.36 | 0.98 | 0.78 | 0.31 | 0.53 | 0.56 | 0.63 | 0.29 | 0.07 | 0.09 | -0.06 | -0.35 | -0.46 | -0.38 | -0.31 | -0.46 |
EPS (Diluted) | 0.54 | 0.66 | 0.89 | 0.89 | 5.95 | 0.91 | 0.72 | 0.30 | 0.49 | 0.51 | 0.57 | 0.26 | 0.06 | 0.08 | -0.06 | -0.35 | -0.46 | -0.38 | -0.31 | -0.46 |
EPS Growth (YoY) | -90.92% | -27.47% | 23.61% | 193.56% | 1114.29% | 78.43% | 26.32% | 17.12% | 716.67% | 537.50% | - | - | - | - | - | - | - | - | - | - |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Free Cash Flow | 78.47 | 81.36 | 150.64 | 96.55 | 79.38 | 89.48 | 104.32 | 81.38 | 53.09 | 56.83 | 82.1 | 48.27 | 36.89 | 36.34 | 28.92 | 11.32 | 6.68 | 10.8 | 19.3 | -0.09 |
Free Cash Flow Per Share | 1.57 | 1.63 | 3.08 | 2.06 | 1.61 | 1.83 | 2.15 | 1.77 | 1.11 | 1.19 | 1.73 | 1.04 | 0.79 | 0.78 | 0.71 | 0.28 | 0.17 | 0.28 | 0.50 | -0.00 |
Gross Margin | 72.86% | 72.62% | 72.99% | 72.78% | 72.47% | 72.38% | 71.12% | 71.88% | 72.91% | 73.45% | 73.03% | 73.13% | 73.66% | 73.36% | 72.77% | 73.25% | 72.62% | 73.00% | 73.54% | 72.67% |
Operating Margin | 8.54% | 11.68% | 15.37% | 15.50% | 14.59% | 13.50% | 10.27% | 6.80% | 7.31% | 10.67% | 9.81% | 3.18% | -3.31% | -3.75% | -7.27% | -17.37% | -20.80% | -17.01% | -14.59% | -23.85% |
Profit Margin | 8.79% | 11.11% | 14.89% | 14.83% | 107.54% | 17.75% | 15.23% | 6.64% | 12.13% | 13.66% | 16.09% | 8.03% | 2.04% | 2.94% | -2.23% | -13.42% | -19.20% | -17.02% | -14.96% | -23.99% |
Free Cash Flow Margin | 25.39% | 27.26% | 51.59% | 34.13% | 29.21% | 35.47% | 45.21% | 38.84% | 27.57% | 31.87% | 49.00% | 31.97% | 26.81% | 28.65% | 25.01% | 10.90% | 6.95% | 12.22% | 23.76% | -0.13% |
EBITDA | 30.65 | 39.12 | 49.06 | 47.67 | 43.18 | 37.49 | 27.28 | 17.92 | 16.95 | 21.28 | 18.51 | 6.84 | -2.9 | -3.12 | -6.64 | -16.59 | -18.5 | -13.86 | -11.07 | -16.87 |
EBITDA Margin | 9.92% | 13.11% | 16.80% | 16.85% | 15.89% | 14.86% | 11.82% | 8.55% | 8.80% | 11.93% | 11.05% | 4.53% | -2.11% | -2.46% | -5.74% | -15.98% | -19.26% | -15.69% | -13.63% | -23.10% |
D&A For EBITDA | 4.28 | 4.25 | 4.19 | 3.81 | 3.55 | 3.44 | 3.59 | 3.66 | 2.88 | 2.24 | 2.07 | 2.04 | 1.66 | 1.63 | 1.76 | 1.44 | 1.48 | 1.17 | 0.77 | 0.55 |
EBIT | 26.37 | 34.87 | 44.87 | 43.86 | 39.63 | 34.05 | 23.69 | 14.26 | 14.07 | 19.04 | 16.44 | 4.8 | -4.56 | -4.75 | -8.41 | -18.03 | -19.99 | -15.03 | -11.85 | -17.42 |
EBIT Margin | 8.54% | 11.68% | 15.37% | 15.50% | 14.59% | 13.50% | 10.27% | 6.80% | 7.31% | 10.67% | 9.81% | 3.18% | -3.31% | -3.75% | -7.27% | -17.37% | -20.80% | -17.01% | -14.59% | -23.85% |
Effective Tax Rate | 23.62% | 26.91% | 21.77% | 23.02% | - | 3.59% | - | 37.78% | 7.99% | 15.20% | - | 19.93% | 4.26% | - | - | - | - | - | - | - |
Advertising Expenses | 28 | 28.2 | 28.14 | - | 25.5 | 19.65 | 17.54 | - | 18.15 | 13.45 | 14.02 | - | 16.23 | 12.21 | 11.09 | - | 12.81 | 10.59 | 10.95 | - |