Duolingo
Runs a gamified learning app funded mainly by Super Duolingo and Duolingo Max subscriptions.
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Profile
Runs a global freemium learning app spanning languages, Math, Music, and Chess, with most revenue from Super Duolingo and Duolingo Max subscriptions. Advertising, in-app purchases, and the Duolingo English Test add smaller streams, while distribution and payment collection depend heavily on Apple and Google.
Operates a global, mobile-first learning platform centered on the Duolingo App, where language courses sit alongside Math, Music, and Chess. Free access builds the audience; Super Duolingo and Duolingo Max subscriptions supply most revenue, while advertising, in-app purchases, and the Duolingo English Test provide smaller streams. Duolingo for Schools and Duolingo ABC extend the portfolio.
Engagement is built through bite-sized lessons, gamification, personalized practice, and continuous A/B testing, with AI used for content production and features such as Video Call. The platform serves more users outside the United States than within it and operates as one reporting segment. Distribution and payment collection rely heavily on Apple and Google, while the English Test depends on continued acceptance by education programs.
Company facts
Categories
Key statistics
Year to date −16.7% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Wedbush | Reiterate | Neutral | $150 | ||
| Aug 18, 2026 | Citigroup | Upgrade | Neutral | Buy | ||
| Aug 18, 2026 | Wells Fargo | Initiate | Overweight | |||
| Aug 18, 2026 | Craig-Hallum | Downgrade | Hold | |||
| Aug 18, 2026 | Susquehanna | Initiate | Positive |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.60 | $0.66 | +9.3% | $295.6M | $298.5M | +1.0% | −9.41% |
| May 4, 2026Q1 FY26 | $0.79 | $0.89 | +12.7% | $288.6M | $292.0M | +1.2% | −5.62% |
| Feb 26, 2026Q4 FY25 | $0.79 | $0.94 | +19.0% | $275.9M | $282.9M | +2.5% | −14.01% |
| Nov 5, 2025Q3 FY25 | $0.76 | $0.95 | +25.2% | $260.3M | $271.7M | +4.4% | −25.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $230.7M | $252.3M | $271.7M | $282.9M | $292.0M | $298.5M | |
| Gross profit | $162.7M | $181.1M | $195.5M | $204.4M | $211.7M | $216.7M | |
| Operating income | $23.7M | $34.1M | $39.6M | $43.9M | $44.9M | $33.9M | |
| Net income | $35.1M | $44.8M | $292.2M | $42.0M | $43.5M | $33.2M | |
| Diluted EPS | $0.72 | $0.91 | $5.95 | $0.84 | $0.89 | $0.66 | |
| Gross margin | 70.5% | 71.8% | 71.9% | 72.3% | 72.5% | 72.6% | |
| Operating margin | 10.3% | 13.5% | 14.6% | 15.5% | 15.4% | 11.4% |
Fiscal years (4-quarter sums)FY21 $250.8M · FY22 $369.5M · FY23 $531.1M · FY24 $748.0M · FY25 $1.04B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $1.31B · Total debt $86.1M · Total assets $2.07B · Shareholders' equity $1.41B
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 46.59M · Float 39.76M · 85.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Baillie Gifford & Co | 4.82M | 10.35% | 13F | Aug 6, 2026 |
| BlackRock, Inc. | 3.87M | 8.30% | 13F | Aug 7, 2026 |
| Luis von Ahn · director, 10 percent owner, officer: President & CEO, Co-Founder | 3.37M | 7.23% | Form 4 | May 29, 2026 |
| Severin Hacker · director, 10 percent owner, officer: Chief Tech Officer, Co-Founder | 3.04M | 6.53% | Form 4 | May 29, 2026 |
| AQR Capital Management LLC | 2.33M | 5.01% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Stephen C. Chen | officer: General Counsel | −1,024 | $129.13 |
| Aug 17, 2026 | Robert Meese | officer: Chief Business Officer | −1,354 | $129.13 |
| Aug 18, 2026 | Natalie Glance | officer: Chief Engineering Officer | −1,539 | $137.80 |
| Aug 17, 2026 | Natalie Glance | officer: Chief Engineering Officer | −2,751 | $129.13 |
| May 15, 2026 | Robert Meese | officer: Chief Business Officer | −1,420 | $112.16 |
Peers
- Pearson (ADR)
Direct rival in English testing and assessment prep
- Chegg
Owns Busuu and overlaps in AI study support
- Coursera
Online courses and credentials overlap broader learning
- Alphabet Class A
Free translation utility and Android platform pressure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Duolingo | $146.86 | −0.13% | $6.85B | 17.6 | 54.6 | 6.0 | +18.3% |
| Pearson (ADR) | $16.73 | 0.00% | $10.04B | 23.9 | — | 2.0 | — |
| Chegg | $0.8500 | +0.83% | $94.5M | — | — | 0.4 | −50.7% |
| Coursera | $6.47 | −0.08% | $1.19B | — | 8.3 | 1.3 | +59.6% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Median | 20.6 | 17.1 | 1.7 | +24.2% |