Duolingo, Inc. (DUOL)

Duolingo Operating Metrics

Period Ending	Dec 31, 2025	Sep 30, 2025	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	1.16B	1.09B	1.02B	944.76M	870.61M	790.01M	732.15M	679.55M
Bookings Growth	33.04%	38.37%	39.68%	39.03%	39.92%	41.68%	44.49%	45.61%
Daily Active Users	52.70M	50.50M	47.70M	46.60M	40.50M	37.20M	34.10M	31.40M													-
Daily Active Users Growth	30.12%	35.75%	39.88%	48.41%	50.56%	53.72%	59.35%	54.68%													-
Monthly Active Users	133.10M	135.30M	128.30M	130.20M	116.70M	113.10M	103.60M	97.60M													-
Monthly Active Users Growth	14.05%	19.63%	23.84%	33.40%	32.01%	36.10%	39.81%	34.44%													-
Paid Users	12.20M	11.50M	10.90M	10.30M	9.50M	8.60M	8.00M	7.40M
Paid Users Growth	28.42%	33.72%	36.25%	39.19%	43.94%	48.28%	53.85%	54.17%
Paid Users as Percentage of MAU	-	9.00%	9.00%	8.90%	8.80%	7.60%	7.70%	7.60%	8.30%

Revenue by Segment

Period Ending	Sep 30, 2025	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
Subscription	805.50M	733.62M	666.83M	607.51M	550.67M	498.95M	450.24M	404.74M									-	-	-	-
Subscription Growth	46.28%	47.03%	48.10%	50.10%	50.71%	50.44%	49.26%	48.00%									-	-	-	-
Other	158.80M	151.58M	144.40M	114.75M	88.78M	63.20M	37.59M	35.30M									-	-	-	-
Other Growth	78.87%	139.82%	284.17%	225.11%	175.98%	126.94%	63.50%	90.77%									-	-	-	-
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%	-	-			-	-	-	-

Operating Expense Breakdown

Period Ending	Dec 31, 2025	Sep 30, 2025	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	306.32M	293.16M	273.33M	254.81M	235.30M	219.16M	206.59M	199.39M
Research and Development Growth	30.19%	33.77%	32.31%	27.80%	21.07%	16.22%	14.62%	19.75%
General and Administrative	181.89M	178.93M	173.36M	164.33M	155.99M	146.70M	141.72M	137.01M
General and Administrative Growth	16.60%	21.97%	22.33%	19.94%	18.05%	15.88%	14.81%	13.01%
Sales and Marketing	125.68M	116.12M	106.61M	97.23M	90.49M	84.80M	81.56M	79.12M
Sales and Marketing Growth	38.88%	36.94%	30.72%	22.89%	19.40%	12.02%	14.73%	15.29%

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