Duolingo revenue and financials
$151.35Change from previous close: +2.17%Absolute change: +$3.22
In the fiscal year ended December 2025, Duolingo reported revenue of $1.04B (+38.71% year over year). Net income was $414.07M, a net margin of 39.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +38.71%
- 2025 vs 2024
- Net income growth
- +367.48%
- 2025 vs 2024
- Net margin
- 39.9%
- 2024: 11.8%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | 1,038 | 748 | 531 | 369 | 251 |
| Cost of revenue | 288 | 204 | 142 | 99.4 | 69.2 |
| Gross profit | 749 | 544 | 389 | 270 | 182 |
| Selling, general and administrative | 305 | 246 | 208 | 185 | 138 |
| Research and development | 304 | 235 | 194 | 150 | 104 |
| Operating income | 141 | 63.8 | -13.3 | -65.2 | -60.0 |
| EBIT | 141 | 63.8 | -13.3 | -65.2 | -60.0 |
| EBITDA | 156 | 74.7 | -6.2 | -60.3 | -57.3 |
| Pre-tax income | 182 | 102 | 17.8 | -58.6 | -60.0 |
| Income tax | -232 | 13.7 | 1.7 | 0.9 | 0.2 |
| Net income | 414 | 88.6 | 16.1 | -59.6 | -60.1 |
| Net income to common shareholders | 414 | 88.6 | 16.1 | -59.6 | -60.1 |
| Basic EPS | 9.05 | 2.04 | 0.39 | -1.51 | -2.57 |
| Diluted EPS | 8.57 | 1.88 | 0.35 | -1.51 | -2.57 |
| Average shares (basic) | 45.8 | 43.5 | 41.5 | 39.5 | 23.4 |
| Average shares (diluted) | 48.3 | 47.1 | 46.5 | 39.5 | 23.4 |