Duolingo, Inc. (DUOL)

DUOL Financials

DUOL Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Gross Profit	792.686M	211.679M	204.420M	195.489M	181.098M	162.717M	149.085M	138.935M	129.679M
Revenue	1.099B	291.967M	282.868M	271.713M	252.265M	230.743M	209.550M	192.594M	178.327M
Cost of Goods Sold	306.127M	80.288M	78.448M	76.224M	71.167M	68.026M	60.465M	53.659M	48.648M
Gross Profit Margin	72.5%	72.5%	72.3%	71.9%	71.8%	70.5%	71.1%	72.1%	72.7%
Total Operating Expenses	630.273M	166.807M	160.560M	155.861M	147.045M	139.023M	135.065M	124.862M	110.642M
Research & Development	315.489M	82.128M	78.679M	81.881M	72.801M	69.634M	65.625M	62.230M	54.647M
Selling, General & Administrative	314.784M	84.679M	81.881M	73.980M	74.244M	69.389M	69.440M	62.632M	55.995M
Operating Income (EBIT)	162.413M	44.872M	43.860M	39.628M	34.053M	23.694M	14.020M	14.073M	19.037M
Operating Margin	15.4%	15.4%	15.5%	14.6%	13.5%	10.3%	6.7%	7.3%	10.7%
Income Before Tax (EBT)	202.952M	55.552M	54.501M	46.449M	46.450M	35.010M	22.352M	25.389M	28.714M
Interest Income	46.627M	11.811M	11.596M	11.793M	11.427M	10.415M	10.697M	11.246M	10.721M
Interest Expense	—	—	—	—	—	—	—	—	—
Other Income/Expense	40.539M	10.680M	10.641M	6.821M	12.397M	11.316M	8.332M	11.316M	9.677M
Net Income	422.390M	43.460M	41.954M	292.195M	44.781M	35.135M	13.907M	23.360M	24.351M
Income Tax Expense	-219.438M	12.092M	12.547M	-245.746M	1.669M	-125K	8.445M	2.029M	4.363M
Net Profit Margin	14.9%	14.9%	14.8%	107.5%	17.8%	15.2%	6.6%	12.1%	13.7%
EBITDA	177.405M	49.063M	47.668M	43.181M	37.493M	27.284M	17.681M	16.949M	21.280M
EBITDA Margin	16.8%	16.8%	16.9%	15.9%	14.9%	11.8%	8.4%	8.8%	11.9%
Depreciation & Amortization	14.992M	4.191M	3.808M	3.553M	3.440M	3.590M	3.661M	2.876M	2.243M
EPS Basic	9.17	0.93	0.90	6.36	0.98	0.78	0.31	0.53	0.56
EPS Diluted	8.59	0.89	0.84	5.95	0.91	0.72	0.28	0.49	0.51
Shares Outstanding	46.793M	46.793M	46.628M	45.950M	45.610M	45.148M	44.903M	43.707M	43.260M
Diluted Shares Outstanding	48.987M	48.987M	49.800M	49.144M	49.000M	48.497M	49.500M	47.969M	47.770M

DUOL Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Gross Profit	743.724M	538.835M	383.929M	266.064M	180.893M	115.163M	49.402M
Revenue	1.038B	748.024M	531.109M	369.495M	250.772M	161.696M	70.760M
Cost of Goods Sold	293.865M	209.189M	147.180M	103.431M	69.879M	46.533M	21.358M
Gross Profit Margin	71.7%	72.0%	72.3%	72.0%	72.1%	71.2%	69.8%
Total Operating Expenses	602.489M	475.266M	396.850M	330.623M	236.991M	130.892M	62.299M
Research & Development	302.995M	232.940M	192.702M	148.944M	103.787M	53.024M	31.560M
Selling, General & Administrative	299.494M	242.326M	204.148M	181.679M	133.204M	77.868M	30.739M
Operating Income (EBIT)	141.235M	63.569M	-12.921M	-64.559M	-56.098M	-15.729M	-12.897M
Operating Margin	13.6%	8.5%	-2.4%	-17.5%	-22.4%	-9.7%	-18.2%
Income Before Tax (EBT)	182.410M	102.306M	17.777M	-58.636M	-59.958M	-15.708M	-13.554M
Interest Income	45.231M	42.697M	31.091M	7.235M	—	—	—
Interest Expense	—	—	—	—	—	—	—
Other Income/Expense	41.175M	38.737M	30.698M	5.923M	-3.860M	21K	-657K
Net Income	414.065M	88.574M	16.067M	-59.574M	-60.135M	-15.776M	-13.554M
Income Tax Expense	-231.655M	13.732M	1.710M	938K	177K	68K	0.00
Net Profit Margin	39.9%	11.8%	3.0%	-16.1%	-24.0%	-9.8%	-19.2%
EBITDA	155.626M	74.423M	-5.826M	-59.689M	-53.372M	-13.473M	-11.646M
EBITDA Margin	15.0%	9.9%	-1.1%	-16.2%	-21.3%	-8.3%	-16.5%
Depreciation & Amortization	14.391M	10.854M	7.095M	4.870M	2.726M	2.256M	1.251M
EPS Basic	9.05	2.04	0.35	-1.51	-1.57	-0.44	-0.38
EPS Diluted	8.57	1.88	0.35	-1.51	-1.57	-0.44	-0.38
Shares Outstanding	45.773M	43.504M	46.522M	39.470M	38.272M	35.892M	35.892M
Diluted Shares Outstanding	48.308M	47.101M	46.522M	39.470M	38.272M	35.892M	35.892M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Duolingo, Inc.

Duolingo, Inc. builds and operates an online platform and a mobile application dedicated to language learning, catering to audiences in both the United States and China. The company's comprehensive curriculum spans 40 diverse languages, featuring prominent options such as Spanish, English, French, Japanese, German, Italian, Chinese, and Portuguese, among others. Furthermore, it offers a digital examination for assessing language proficiency. This enterprise was founded in 2011 and its main offices are located in Pittsburgh, Pennsylvania.

Pittsburgh, PA

830 employees

www.duolingo.com

Technology / Software - Application

Sector: Technology
Industry: Software - Application
CEO: Luis Alfonso von Ahn Arellano

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