Duolingo, Inc. (DUOL) income statement
NASDAQ · Technology · Software - Application · 900 employees · CEO Luis Alfonso von Ahn Arellano
- Price
- $131.59 -3.52%
- Market cap
- $6.13B
- Enterprise value
- $5.04B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-03 EPS est. $0.57
Duolingo, Inc. (DUOL) reported revenue of $298M for Q2 '26 (+18.3% year on year), operating income of $33.9M (11.4% of revenue) and net income of $33.2M. Over the last four quarters revenue was $1.15B.
Income statement
| Income statement | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138M | $151M | $168M | $178M | $193M | $210M | $231M | $252M | $272M | $283M | $292M | $298M | |
| Cost of revenue | $37.5M | $41.8M | $46.4M | $48.6M | $53.7M | $60.5M | $68M | $71.2M | $76.2M | $78.4M | $80.3M | $81.7M | |
| Gross profit | $100M | $109M | $121M | $130M | $139M | $149M | $163M | $181M | $195M | $204M | $212M | $217M | |
| Research & development | $49.9M | $49.8M | $50.4M | $54.6M | $62.2M | $65.6M | $69.6M | $72.8M | $81.9M | $78.7M | $82.1M | $92.2M | |
| Sales & marketing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $40M | |
| General & administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50.6M | |
| Operating expenses | $105M | $104M | $105M | $111M | $125M | $135M | $139M | $147M | $156M | $161M | $167M | $183M | |
| Operating income | -$4.56M | $4.8M | $16.4M | $19M | $14.1M | $14M | $23.7M | $34.1M | $39.6M | $43.9M | $44.9M | $33.9M | |
| Interest income | $8.63M | $9.28M | $10M | $10.7M | $11.2M | $10.7M | $10.4M | $11.4M | $11.8M | $11.6M | $11.8M | $11.8M | |
| Other non-operating income (gains on investments, FX ...) | -$7.49M | -$10.3M | -$9.41M | -$9.68M | -$11.3M | -$8.33M | -$11.3M | -$12.4M | -$6.82M | -$10.6M | -$10.7M | -$410K | |
| Total non-operating income | $7.49M | $10.3M | $9.41M | $9.68M | $11.3M | $8.33M | $11.3M | $12.4M | $6.82M | $10.6M | $10.7M | $11.4M | |
| Income before tax | $2.93M | $15.1M | $25.9M | $28.7M | $25.4M | $22.4M | $35M | $46.5M | $46.4M | $54.5M | $55.6M | $45.4M | |
| Income tax | $125K | $3.02M | -$1.11M | $4.36M | $2.03M | $8.45M | -$125K | $1.67M | -$246M | $12.5M | $12.1M | $12.2M | |
| Net income | $2.81M | $12.1M | $27M | $24.4M | $23.4M | $13.9M | $35.1M | $44.8M | $292M | $42M | $43.5M | $33.2M | |
| EPS (basic) | $0.07 | $0.28 | $0.63 | $0.56 | $0.53 | $0.31 | $0.78 | $0.98 | $6.36 | $0.90 | $0.93 | $0.71 | |
| EPS (diluted) | $0.06 | $0.25 | $0.57 | $0.51 | $0.49 | $0.28 | $0.72 | $0.91 | $5.95 | $0.84 | $0.89 | $0.66 | |
| Shares (basic, weighted) | 41.7M | 42.5M | 42.8M | 43.3M | 43.7M | 44.9M | 45.1M | 45.6M | 46M | 46.6M | 46.8M | 46.7M | |
| Shares (diluted, weighted) | 46.9M | 49M | 47.4M | 47.8M | 48M | 49.5M | 48.5M | 49M | 49.1M | 49.8M | 49M | 50M | |
| Depreciation & amortization | $1.66M | $2.04M | $2.07M | $2.24M | $2.88M | $3.66M | $3.59M | $3.44M | $3.55M | $3.81M | $4.19M | $4.25M | |
| EBITDA | $4.59M | $17.2M | $27.9M | $31M | $28.3M | $26M | $38.6M | $49.9M | $50M | $58.3M | $59.7M | $38.6M |
| Income statement | Trend | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $70.8M | $162M | $251M | $369M | $531M | $748M | $1.04B | |
| Cost of revenue | $21.4M | $46.5M | $69.9M | $103M | $147M | $209M | $294M | |
| Gross profit | $49.4M | $115M | $181M | $266M | $384M | $539M | $744M | |
| Research & development | $31.6M | $53M | $104M | $149M | $193M | $233M | $303M | |
| Operating expenses | $62.3M | $131M | $237M | $331M | $397M | $475M | $602M | |
| Operating income | -$12.9M | -$15.7M | -$56.1M | -$64.6M | -$12.9M | $63.6M | $141M | |
| Interest income | $0 | $0 | $0 | $7.24M | $31.1M | $42.7M | $45.2M | |
| Other non-operating income (gains on investments, FX ...) | $0 | $0 | $3.86M | -$5.92M | -$30.7M | -$38.7M | -$41.2M | |
| Total non-operating income | -$657K | $21K | -$3.86M | $5.92M | $30.7M | $38.7M | $41.2M | |
| Income before tax | -$13.6M | -$15.7M | -$60M | -$58.6M | $17.8M | $102M | $182M | |
| Income tax | $0 | $68K | $177K | $938K | $1.71M | $13.7M | -$232M | |
| Net income | -$13.6M | -$15.8M | -$60.1M | -$59.6M | $16.1M | $88.6M | $414M | |
| EPS (basic) | -$0.38 | -$0.44 | -$1.57 | -$1.51 | $0.35 | $2.04 | $9.05 | |
| EPS (diluted) | -$0.38 | -$0.44 | -$1.57 | -$1.51 | $0.35 | $1.88 | $8.57 | |
| Shares (basic, weighted) | 35.9M | 35.9M | 38.3M | 39.5M | 46.5M | 43.5M | 45.8M | |
| Shares (diluted, weighted) | 35.9M | 35.9M | 38.3M | 39.5M | 46.5M | 47.1M | 48.3M | |
| Depreciation & amortization | $1.25M | $2.26M | $2.73M | $4.87M | $7.1M | $10.9M | $14.4M | |
| EBITDA | -$11.6M | -$13.5M | -$57.2M | -$53.8M | $24.9M | $113M | $197M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02