Duolingo, Inc. (DUOL)

Duolingo Operating Metrics

Period Ending	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020
Bookings	1.02B	944.76M	870.61M	790.01M	732.15M	679.55M	622.20M	557.60M
Bookings Growth	39.68%	39.03%	39.92%	41.68%	44.49%	45.61%	45.14%	41.85%
Paid Users	10.90M	10.30M	9.50M	8.60M	8.00M	7.40M	6.60M	5.80M
Paid Users Growth	36.25%	39.19%	43.94%	48.28%	53.85%	54.17%	57.14%	56.76%
Paid Users as Percentage of MAU	9.00%	8.90%	8.80%	7.60%	7.70%	7.60%	8.30%	8.00%
Paid Users as Percentage of MAU Growth	16.88%	17.11%	6.02%	-5.00%	-2.53%	15.15%	6.41%	8.11%

Revenue by Segment

Period Ending	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021
Subscription	733.62M	666.83M	607.51M	550.67M	498.95M	450.24M	404.74M	365.39M
Subscription Growth	47.03%	48.10%	50.10%	50.71%	50.44%	49.26%	48.00%	48.24%
Other	151.58M	144.40M	114.75M	88.78M	63.20M	37.59M	35.30M	32.17M
Other Growth	139.82%	284.17%	225.11%	175.98%	126.94%	63.50%	90.77%	113.48%
Advertising	-	-	-	-	-	51.24M	49.92M	47.54M	46.45M	44.57M	44.69M	44.73M	43.14M
Advertising Growth	-	-	-	-	-	14.95%	11.71%	6.28%	7.69%	8.78%	16.06%	-	-
English Test	-	-	-	-	-	43.97M	41.19M	38.77M	36.36M	34.60M	32.71M	32.40M	30.91M
English Test Growth	-	-	-	-	-	27.09%	25.94%	19.66%	17.66%	24.90%	32.65%	-	-

Users

Period Ending	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Monthly Actives	128.30M	130.20M	116.70M	113.10M	103.60M	97.60M	88.40M	83.10M
Monthly Actives Growth	23.84%	33.40%	32.01%	36.10%	39.81%	34.44%	45.63%	47.08%
Daily Actives	47.70M	46.60M	40.50M	37.20M	34.10M	31.40M	26.90M	24.20M
Daily Actives Growth	39.88%	48.41%	50.56%	53.72%	59.35%	54.68%	65.03%	62.42%

Operating Expense Breakdown

Period Ending	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Research and Development	273.33M	254.81M	235.30M	219.16M	206.59M	199.39M	194.35M	188.57M
Research and Development Growth	32.31%	27.80%	21.07%	16.22%	14.62%	19.75%	29.19%	38.66%
General and Administrative	173.36M	164.33M	155.99M	146.70M	141.72M	137.01M	132.14M	126.60M
General and Administrative Growth	22.33%	19.94%	18.05%	15.88%	14.81%	13.01%	12.13%	11.95%
Sales and Marketing	106.61M	97.23M	90.49M	84.80M	81.56M	79.12M	75.79M	75.70M
Sales and Marketing Growth	30.72%	22.89%	19.40%	12.02%	14.73%	15.29%	13.17%	21.22%

Source: Business metrics provided by Main Street Data and sourced from official company press releases and documents.