Duolingo, Inc.

DUOL Technology Software Application

Duolingo, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 38.7% from fiscal 2024.

Revenue
+13.7%
EPS
−90.9%
Free cash flow
+15.6%
Total debt
−9.69%

Quarter to September 2026, against a year earlier

157.17 4.10 −2.54%
Market cap
$7.4B
P/E
50.7×
Fwd P/E
48.1×
Dividend yield
—
F-score
3/9
Altman Z
8.95
Beneish M
−1.63
Dividend safety
n/a

Duolingo, Inc. (DUOL) Gross margin

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Duolingo, Inc.'s gross margin over the twelve months to 30 September 2026 was 72.8%, up 0.6 percentage points from fiscal 2025 (72.2%). Over the past ten years it has ranged from 70.7% (fiscal 2019) to 73.2% (fiscal 2023); the current reading is higher than 43% of that period. That is above the Software Application industry median of 66.9% and above the Technology sector median of 46.9%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 72.2% (0.55)
FY2024 72.8% (0.46)
FY2023 73.2% 0.15
FY2022 73.1% 0.68
FY2021 72.4% 0.85
FY2020 71.6% 0.87
FY2019 70.7% —

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 72.9% 0.24
Jun 2026 72.6% (0.37)
Mar 2026 73.0% 0.21
Dec 2025 72.8% 0.31
23 more quarters

Against its own ten years

Low 70.7% High 73.2%
Ten-year median 72.4%
Current reading's percentile 63

Gross margin against peers

Company Gross margin
IDCC InterDigital, Inc. compare 100.0%
CVLT CommVault Systems, Inc. compare 81.3%
DUOL Duolingo, Inc. 72.8%
NAVN Navan, Inc. compare 72.6%
TTAN ServiceTitan Inc. compare 71.1%
YOU CLEAR Secure, Inc. compare 67.5%
YMM Full Truck Alliance Co. Ltd. Sponsored ADR compare 65.8%
APPF AppFolio, Inc. compare 63.8%
LYFT Lyft, Inc. compare 45.5%
Software Application industry median 66.9%
Technology sector median 46.9%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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