Duolingo financials
$142.62+6.20%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $298.5M | $292.0M | $282.9M | $271.7M | $252.3M | $230.7M | $209.6M | $192.6M | $178.3M | $167.6M | $151.0M | $137.6M |
| Gross profit | $216.7M | $213.1M | $205.9M | $196.9M | $182.6M | $164.1M | $150.6M | $140.4M | $131.0M | $122.4M | $110.4M | $101.4M |
| Gross margin | 72.6% | 73.0% | 72.8% | 72.5% | 72.4% | 71.1% | 71.9% | 72.9% | 73.4% | 73.0% | 73.1% | 73.7% |
| Operating income | $33.9M | $44.5M | $43.5M | $35.2M | $33.4M | $23.6M | $13.9M | $13.6M | $18.7M | $16.4M | $4.2M | -$4.7M |
| Net income | $33.2M | $43.5M | $42.0M | $292.2M | $44.8M | $35.1M | $13.9M | $23.4M | $24.4M | $27.0M | $12.1M | $2.8M |
| Net margin | 11.1% | 14.9% | 14.8% | 107.5% | 17.8% | 15.2% | 6.6% | 12.1% | 13.7% | 16.1% | 8.0% | 2.0% |
| Diluted EPS | $0.66 | $0.89 | $0.90 | $5.95 | $0.91 | $0.72 | $0.31 | $0.49 | $0.51 | $0.57 | $0.23 | $0.06 |
| EBITDA | $38.2M | $48.7M | $47.3M | $38.7M | $36.8M | $27.2M | $17.5M | $16.4M | $20.9M | $18.5M | $4.2M | -$3.0M |
| Operating cash flow | $88.3M | $150.8M | $107.3M | $84.2M | $90.7M | $105.6M | $83.3M | $56.3M | $62.4M | $83.5M | $49.2M | $37.6M |
| Free cash flow | $81.4M | $150.6M | $96.6M | $79.4M | $89.5M | $104.3M | $81.4M | $53.1M | $56.8M | $82.1M | $48.3M | $36.9M |
| Diluted shares | 50.0M | 49.0M | 46.6M | 49.1M | 49.0M | 48.5M | 45.3M | 48.0M | 47.8M | 47.4M | 51.7M | 46.9M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.18B | $1.14B | $1.04B | $1.01B | $976.2M | $884.0M |
| Short-term investments | $133.0M | $113.0M | $104.1M | $109.9M | $121.7M | $115.3M |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets | $2.07B | $2.06B | $1.99B | $1.89B | $1.54B | $1.40B |
| Total liabilities | $664.2M | $666.2M | $645.2M | $578.1M | $565.5M | $509.3M |
| Shareholders' equity | $1.41B | $1.39B | $1.35B | $1.31B | $977.0M | $893.8M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology