# Duolingo, Inc.: overview

DUOL · Nasdaq · CIK 1562088 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/duol.md) · [Financials](/companies/duol/financials.md) · [Filings](/companies/duol/filings.md) · [Insiders](/companies/duol/insiders.md)

Latest reported revenue: [$298.5m](/filings/0001628280-26-053603.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-053603).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [193](/filings/0001628280-25-049743.md) | [210 d](/filings/0001628280-26-012494.md) | [231](/filings/0001628280-26-029976.md) | [252](/filings/0001628280-26-053603.md) | [272](/filings/0001628280-25-049743.md) | [283 d](/filings/0001628280-26-012494.md) | [292](/filings/0001628280-26-029976.md) | [298](/filings/0001628280-26-053603.md) |
| Gross margin | % | [72.9%](/filings/0001628280-25-049743.md) | [71.9% d](/filings/0001628280-26-012494.md) | [71.1%](/filings/0001628280-26-029976.md) | [72.4%](/filings/0001628280-26-053603.md) | [72.5%](/filings/0001628280-25-049743.md) | [72.8% d](/filings/0001628280-26-012494.md) | [73.0%](/filings/0001628280-26-029976.md) | [72.6%](/filings/0001628280-26-053603.md) |
| Operating margin | % | [7.0%](/filings/0001628280-25-049743.md) | [6.6% d](/filings/0001628280-26-012494.md) | [10.2%](/filings/0001628280-26-029976.md) | [13.2%](/filings/0001628280-26-053603.md) | [12.9%](/filings/0001628280-25-049743.md) | [15.4% d](/filings/0001628280-26-012494.md) | [15.3%](/filings/0001628280-26-029976.md) | [11.4%](/filings/0001628280-26-053603.md) |
| Net margin | % | [12.1%](/filings/0001628280-25-049743.md) | [6.6% d](/filings/0001628280-26-012494.md) | [15.2%](/filings/0001628280-26-029976.md) | [17.8%](/filings/0001628280-26-053603.md) | [107.5%](/filings/0001628280-25-049743.md) | [14.8% d](/filings/0001628280-26-012494.md) | [14.9%](/filings/0001628280-26-029976.md) | [11.1%](/filings/0001628280-26-053603.md) |
| Diluted EPS | $ per share | [0.49](/filings/0001628280-25-049743.md) | not reported | [0.72](/filings/0001628280-26-029976.md) | [0.91](/filings/0001628280-26-053603.md) | [5.95](/filings/0001628280-25-049743.md) | not reported | [0.89](/filings/0001628280-26-029976.md) | [0.66](/filings/0001628280-26-053603.md) |
| Free cash flow | $m | [53.1 d](/filings/0001628280-25-049743.md) | [81.4 d](/filings/0001628280-26-012494.md) | [104](/filings/0001628280-26-029976.md) | [89.5 d](/filings/0001628280-26-053603.md) | [79.4 d](/filings/0001628280-25-049743.md) | [96.6 d](/filings/0001628280-26-012494.md) | [151](/filings/0001628280-26-029976.md) | [81.4 d](/filings/0001628280-26-053603.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [251](/filings/0001562088-24-000050.md) | [369](/filings/0001562088-25-000042.md) | [531](/filings/0001628280-26-012494.md) | [748](/filings/0001628280-26-012494.md) | [1,038](/filings/0001628280-26-012494.md) |
| Gross margin | % | [72.4%](/filings/0001562088-24-000050.md) | [73.1%](/filings/0001562088-25-000042.md) | [73.2%](/filings/0001628280-26-012494.md) | [72.8%](/filings/0001628280-26-012494.md) | [72.2%](/filings/0001628280-26-012494.md) |
| Operating margin | % | [(23.9%)](/filings/0001562088-24-000050.md) | [(17.6%)](/filings/0001562088-25-000042.md) | [(2.5%)](/filings/0001628280-26-012494.md) | [8.4%](/filings/0001628280-26-012494.md) | [13.1%](/filings/0001628280-26-012494.md) |
| Net margin | % | [(24.0%)](/filings/0001562088-24-000050.md) | [(16.1%)](/filings/0001562088-25-000042.md) | [3.0%](/filings/0001628280-26-012494.md) | [11.8%](/filings/0001628280-26-012494.md) | [39.9%](/filings/0001628280-26-012494.md) |
| Diluted EPS | $ per share | [(2.57)](/filings/0001562088-24-000050.md) | [(1.51)](/filings/0001562088-25-000042.md) | [0.35](/filings/0001628280-26-012494.md) | [1.88](/filings/0001628280-26-012494.md) | [8.57](/filings/0001628280-26-012494.md) |
| Free cash flow | $m | [5.6](/filings/0001562088-24-000050.md) | [48.1](/filings/0001562088-25-000042.md) | [150](/filings/0001628280-26-012494.md) | [273](/filings/0001628280-26-012494.md) | [370](/filings/0001628280-26-012494.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/duol/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $554.9m | 4,824,298 |  | Reduced −51,512 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $444.8m | 3,867,080 |  | Reduced −119,386 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $268.3m | 2,332,543 |  | Added +2,222,495 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $200.8m | 1,745,689 |  | Added +22,557 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $187.4m | 1,629,242 |  | Added +233,698 |
| [FIL Ltd](/funds/318989.md) | 2026-06-30 | $184.4m | 1,603,554 |  | Reduced −19,251 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $184.4m | 1,603,280 |  | Reduced −29,370 |
| [FEDERATED HERMES, INC.](/funds/1056288.md) | 2026-06-30 | $157.8m | 1,371,817 |  | Added +118,791 |
| [STATE OF MICHIGAN RETIREMENT SYSTEM](/funds/762152.md) | 2026-06-30 | $150.2m | 1,306,107 |  | Added +112,800 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $141.4m | 1,229,391 |  | Added +45,747 |

## Recent filings

[All 780 filings](/companies/duol/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-19 | 21:11 ET | [8-K](/filings/0001628280-26-057818.md) | 7.01 Regulation FD disclosure | 0001628280-26-057818 |
| 2026-08-10 | 09:02 ET | [8-K](/filings/0001628280-26-055015.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001628280-26-055015 |
| 2026-08-06 | 17:49 ET | [10-Q](/filings/0001628280-26-053603.md) | Quarterly report, period 2026-06-30 | 0001628280-26-053603 |
| 2026-08-05 | 16:04 ET | [8-K](/filings/0001628280-26-053299.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-053299 |
| 2026-06-05 | 16:32 ET | [8-K](/filings/0001628280-26-041280.md) | 5.07 Shareholder vote results | 0001628280-26-041280 |
| 2026-05-05 | 17:59 ET | [10-Q](/filings/0001628280-26-029976.md) | Quarterly report, period 2026-03-31 | 0001628280-26-029976 |
| 2026-05-04 | 16:04 ET | [8-K](/filings/0001628280-26-029790.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-029790 |
| 2026-04-17 | 16:06 ET | [DEF 14A](/filings/0001628280-26-025728.md) | Proxy statement, period 2026-04-17 | 0001628280-26-025728 |
| 2026-02-27 | 19:25 ET | [8-K/A](/filings/0001628280-26-012513.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-012513 |
| 2026-02-27 | 18:35 ET | [10-K](/filings/0001628280-26-012494.md) | Annual report, period 2025-12-31 | 0001628280-26-012494 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001628280-26-012494.md), filed Feb 27, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/ecdaa84f-633e-445d-800d-76bdeea50527)

## About the filer

- CIK: 1562088
- Tickers: DUOL
- Exchange: Nasdaq
- SIC code: 7372 Services-Prepackaged Software
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 11:27 ET. No prices; not investment advice.