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) Net margin

Alert me on Net margin

Duolingo, Inc.'s net margin over the twelve months to 30 September 2026 was 12.3%, down 27.6 percentage points from fiscal 2025 (39.9%). Over the past ten years it has ranged from −24.0% (fiscal 2021) to 39.9% (fiscal 2025) — the current reading is the highest in ten years. That is above the Software Application industry median of 0.00% and above the Technology sector median of 0.00%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 39.9% 28.07
FY2024 11.8% 8.81
FY2023 3.03% 19.15
FY2022 −16.1% 7.86
FY2021 −24.0% (14.22)
FY2020 −9.76% 9.39
FY2019 −19.2% —

Quarterly newest first

Period Net margin Change (points)
Sep 2026 8.79% (2.32)
Jun 2026 11.1% (3.78)
Mar 2026 14.9% 0.06
Dec 2025 14.8% (92.71)
23 more quarters

Against its own ten years

Low −24.0% High 39.9%
Ten-year median −9.76%
Current reading's percentile 75

Net margin against peers

Company Net margin
LYFT Lyft, Inc. compare 42.3%
IDCC InterDigital, Inc. compare 38.5%
YMM Full Truck Alliance Co. Ltd. Sponsored ADR compare 33.2%
YOU CLEAR Secure, Inc. compare 16.2%
APPF AppFolio, Inc. compare 15.6%
DUOL Duolingo, Inc. 12.3%
CVLT CommVault Systems, Inc. compare 6.60%
TTAN ServiceTitan Inc. compare −12.1%
NAVN Navan, Inc. compare −42.1%
Software Application industry median 0.00%
Technology sector median 0.00%
Market median 1.06%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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